Anglesey holds 26% of Toronto-listed Labrador Iron Mines Holdings Limited (TSX:LIM) which is producing from and developing twenty direct shipping iron ore deposits in western Labrador and north-eastern Quebec. LIM’s properties are part of the historic Schefferville area iron ore district where mining of adjacent deposits was previously carried out by the Iron Ore Company of Canada from 1954 to 1982.

Commercial production began in 2011 and the first train loaded with iron left Schefferville in June and the first ship left Sept Iles for China in October. Shipments of one million tonnes of direct shipping lump and sinter fine hematite iron ore are forecast for 2011, rising to 5 million tonnes annually after several years. See the Labrador Iron Mines website for further details.

Anglesey also has 100% of the Parys Mountain zinc-copper-lead deposit in North Wales, UK with a total historical resource in excess of 7 million tonnes at over 9% combined copper, lead and zinc.

Principal activities and business review - July 2011

The group’s principal activities are the development and operation of the Labrador iron project in eastern Canada in which the group now has a 33% (26% from March 2012) interest, and the Parys Mountain project in North Wales which is wholly owned.

Development of the Labrador properties is proceeding rapidly and the James deposit, the first to go into production, dispatched the first train carrying iron ore on 29 June 2011. Output is expected to build up during the remainder of the operating season.

The group continues its search for other mineral exploration and development opportunities.

The aim of the group is to continue to develop and operate the Labrador projects, to create value in the Parys Mountain property, including by co-operative arrangements, and to actively engage in other mineral ventures using the group’s own resources together with such external investment and finance as may be required.

Labrador Iron Mines - Schefferville Project

- Direct shipping (DSO) lump and sinter fines high-grade hematite iron ore in Labrador

- Mining has commenced on LIM’s James Deposit and the commissioning of the Silver Yards processing plant is complete.

- Low capital expenditure requirements - fully funded

- Existing rail transportation, deep water ports, shipping facilities and hydro power

- Potential mine life of more than 20 years

- Former operations of the Iron Ore Company of Canada

- Compliant (43-101) resources of 37 million tonnes of hematite

- Historical estimate of 137 million tons of hematite

To read more please Click Here.

Parys Mountain Property

- On the island of Anglesey in north Wales - worked for copper since prehistoric times - presently on care and maintenance

- Resource of 7.76 million tonnes - Cu 2%, Pb 2.9% and Zn 4.9%

- Anticipated life of mine contributions to revenue - zinc 27%, copper 51% and lead 13%. Copper more important in later years - October 2010 prices

- Project has planning permission - two years to production from completion of financing

- Successful drill programmes in 2005-08 in two areas - Garth Daniel in the east and near-surface White Rock in the west near to the existing shaft

- Excellent exploration potential over an area of several kilometres

- Work in 1991 resulted in a positive independent feasibility study for a 1,000 tonne per day mine and strong local community and government support. 

To read more please Click Here.

John Kearney, chairman

Irish, born 1951, has been in the mining industry since leaving University. He is a director of several public resource companies. Those listed in the UK include Anglesey and Minco plc.

Throughout his career he has worked with the Northgate Group, the developer of the Irish mineral industry, firstly in Ireland at Tynagh, Gortdrum and the Tara mine (now owned by Outoukumpu and the largest zinc mine in Europe). In 1981 he was appointed executive vice president at Northgate's head office in Toronto and succeeded Pat Hughes as president of Northgate in 1987 and as chairman in 1992; he has since resigned. Under Mr. Kearney's direction, Northgate operated the Copper Rand, Portage and Lemoine mines at Chibougamou, Quebec, the Campbell Resources and Joe Mann mines, also in Quebec, the Sonora gold mine in California, the Colomac mine in Canada's North West Territories and the Choquelimpie mine in Chile as well as investments in other companies and operations in north and south America and Australia.

He was appointed chairman of Anglesey in late 1994 and lead the corporate re-organisation and re-capitalisation of the company during 1995 and 1996 leading to the re-establishment of Anglesey as an active minerals company in 1997. He is also chairman of Canadian Zinc Corporation, Minco plc and Conquest Resources Limited and a director of the Mining Association of Canada

He holds degrees in Law and Economics from University College, Dublin and an MBA from Trinity College, Dublin. He is qualified as a solicitor with the Law Society of Ireland and as a chartered secretary with the Institute of Chartered Secretaries and Administrators of London.

He has presented papers, a number of which have been published, at conventions and meetings on topics including mining, mergers and acquisitions, and mine financing. He is a member of the Canadian Institute of Mining and Metallurgy, the Prospectors and Developers Society of Canada and the Law Society of Ireland.

Bill Hooley, chief executive

Bill Hooley, born 1947, has extensive experience in Australia, the UK and North America in mineral project development and assessment. A graduate in Mining Engineering from Imperial College, Royal School of Mines, he is a Fellow of the Australasian Institute of Mining and Metallurgy. He has worked for a number of major mining companies as well as running a number of junior mining companies. Prior to joining Anglesey, he was managing director of Micon International Co Limited, the internationally respected minerals consulting group.

Ian Cuthbertson, finance director

British, born 1947, finance director, is a chartered accountant. He has extensive experience in the international oilfield and construction industries and has been secretary of the company since its flotation in 1988. He qualified as a chartered accountant with Coopers & Lybrand in 1969 and joined Santa Fe, the largest land based oil well drilling company, in 1972 spending the next 11 years overseas in a wide variety of posts. His particular specialities include contract and project management and accounting, corporate finance and company management.

Non-executive directors

David Lean

Australian, born 1946, non-executive director, is a chartered accountant. He has many years experience in the mining industry most of which was with major base and precious metal mining houses in Australia, Europe and Canada. These included: Australian Mining & Smelting (now Pasminco, which was the Australian lead/zinc division of CRA/RTZ); Boliden, a major base and precious metals mining and smelting company in Sweden; and Curragh Inc., formerly a major lead, zinc and silver mining company in Canada. He was primarily involved in the commercial aspects of the industry. More recently his involvement in the mining industry has been in trading mineral products. He is also a director and financial controller of a public company in the USA not involved in mining

Howard Miller

British, born 1944, non-executive director, is a lawyer experienced in the legal and financial sector in Southern Africa, Canada and the UK. He has been particularly involved in the financing of resource related companies. He is a director and former chairman of Nelson Resources Limited (formerly Nelson Gold Corporation Ltd.), a Toronto listed company, which operates a gold mine in Tajikistan and is developing oilfields in Kazakhstan. Until recently, he was a director and chief executive of Tahera Corporation, a Toronto listed company engaged in the exploration and development of diamond deposits in the Northwest Territories and Nunavut.

Roger Turner

Roger Turner, British, born 1942, has extensive worldwide experience in mine engineering, management and project development in both open pit and underground mining. A graduate in Mining Engineering from the Camborne School of Mines, with an MSc in Economic Geology from Leicester University, he is a member of the Institution of Mining and Metallurgy UK, the Canadian Institute of Mining and Metallurgy and the American Institute of Mining Engineers.

Early in his career he worked as a mine manager for Noranda and Hudson Bay in Canada and for Falconbridge in Africa. In the UK he was manager of the Westfield open pit coal mine in Scotland and the Wheal Jane tin mine in Cornwall for Rio Tinto Zinc Corporation. As a mining consultant he worked for, amongst others, Warrior International (now Standard Bank) and Samuel Montagu & Company. In 1994 he was appointed President of Nelson Gold Corporation and was responsible for the financing, construction and start up of the Jilau gold mine in Tajikistan. From 1996 to 2002 he was co-founder, President and CEO of Oxus Gold plc, and was responsible for the acquisition and development of the Amantaytau gold mine in Uzbekistan. Mr. Turner was chairman and CEO of Minco plc and of Ovoca Gold plc.

Danesh Varma

Canadian, born 1950, non-executive director, is a chartered accountant and a fellow of the Institute of Taxation. He is president of American Resource Corporation and Dundee Bancorp (India) Private Limited. He is also a director of a number of many resource companies including Westfield Minerals Limited and Northgate Exploration Limited.

The company has been advised of the following interests in the issued ordinary share capital:

*Juno Limited is a private investment fund based in Bermuda. It has been a major shareholder since 1996; previously Imperial Metals Corporation, the Canadian company which formed Anglesey Mining plc in 1984 was the majority holder. Danesh Varma is a director of both Juno and Anglesey. Juno has provided funding to the company under a working capital agreement - see latest annual report for further details.

** 4,965,900 shares held by Morgan Stanley Securities are also included in the number of shares held by the Passport companies.

Updated from Anglesey Mining website 27.03.2012