Anglesey Mining PLC LIM First iron ore shipments of 2013


 
TIDMAYM 
 
Anglesey Mining plc 
 
7 June 2013 LSE:AYM 
 
LIM - First iron ore shipment for 2013 
 
Commissioning of Silver Yards Phase 3 
 
Anglesey's 15% owned associate Labrador Iron Mines Holdings Limited (LIM) has 
made its first shipment of iron ore for 2013. The JK Pioneer, a Cape-size 
vessel carrying 174,360 wet metric tonnes of LIM iron ore, has sailed from the 
port of Sept-Îles, bound for China. 
 
LIM's first shipment consisted of sinter fines largely comprised of stockpiled 
material at the mine site and some port inventory, at a planned average grade 
of about 58% iron ("Fe"). Subsequent shipments during 2013 will be sinter fines 
and lump ore at a planned average grade of approximately 62% Fe. These 
shipments will consist of iron ore from the James Mine, made up of a mixture of 
higher grade dry screened ore and lower grade material that will be upgraded at 
the Silver Yards wet processing plant. Total saleable iron ore production in 
2013 is expected to be between 1.75 to 2.0 million tonnes. 
 
In May 2013, LIM signed a new two-year iron ore sales agreement with the Iron 
Ore Company of Canada ("IOC") for the sale of all of LIM's iron ore production 
for the next two calendar years 2013 and 2014. IOC has entered into an iron ore 
off-take agreement with RB Metalloyd Limited ("RBM") under which RBM has agreed 
to buy LIM's iron ore from IOC on a FOB Sept-Îles basis. Under LIM's new sales 
agreement, IOC will pay for the iron ore progressively, as the ore is resold, 
with the price calculation based on the monthly average of the market index, 
adjusted for product quality specification, premiums or penalties and after 
ocean freight and IOC's price participation. 
 
The Silver Yards wet processing plant has restarted for the 2013 year and 
includes the Phase 3 upgrade and expansion which is now being commissioned. The 
wet plant will ramp up to its design capacity by the end of June and will 
operate in conjunction with the dry plant, which has been processing iron ore 
since April. 
 
John Kearney, Chairman and Chief Executive of Labrador Iron Mines, stated "We 
are happy to report that LIM's first shipment of 2013 has sailed and that 
production is ramping up largely on schedule, despite difficult weather 
conditions that prevailed in the Schefferville area during April and May. Now 
that the Silver Yards wet plant is operating, we expect to accelerate our 
production, railing and shipping and look forward to a solid year of 
operations." 
 
LIM will be releasing its March 2013 fourth quarter and year-end results on 
Thursday, June 27, 2013. Members of the senior management team will host a 
conference call and webcast on Thursday, June 27, 2013 at 11:00 am (Toronto 
Time) to discuss the results. See LIM's website for further details. 
 
About Labrador Iron Mines Holdings Limited (LIM) 
 
Labrador Iron Mines (LIM) is Canada's newest iron ore producer with a portfolio 
of direct shipping (DSO) iron ore operations and projects located in the 
prolific Labrador Trough. LIM has commenced its third year of operations and is 
targeting 1.75 to 2.0 million tonnes of saleable iron ore production in 2013. 
 
For further information, please visit LIM's website at www.labradorironmines.ca 
 
About Anglesey Mining plc 
 
Anglesey currently holds 19,289,100 shares in LIM which comprise 15.3% of LIM's 
outstanding share capital. Toronto-listed Labrador Iron Mines Holdings Limited 
is producing high grade hematite from its James pit, one of LIM's direct 
shipping iron ore deposits in western Labrador and north-eastern Quebec. 
 
Anglesey is also carrying out exploration and development work at its 100% 
owned Parys Mountain zinc-copper-lead deposit in North Wales, UK where a JORC 
Code-compliant resource of 2.1mt at 6.9% combined base metals in the indicated 
category and 4.1mt at 5.0% combined in the inferred category was published in 
November 2012. 
 
For further information, please contact: 
 
Bill Hooley, Chief Executive +44 (0)1492 541981; 
 
Ian Cuthbertson, Finance Director +44 (0)1248 361333; 
 
Samantha Harrison: RFC Ambrian +44 (0)20 3440 6800; 
 
Emily Fenton / Jos Simson: Tavistock Communications +44 (0)20 7920 3155 
 
 
 
END
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