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Anglesey Mining PLC - London-based mining company with operations in north Wales, Sweden & Canada - Completes pre-feasibility study on Grangesberg iron ore project in Sweden. Anticipates to produce 2.3 to 2.5 million tonnes of iron ore concentrate per year at a concentrate of 70% iron.
The iron ore project has a post-tax net present value of $688 million, Anglesey says. ‘The study assumed an iron ore price of $120 per tonne of iron,’ it explains.
‘Commodity prices are currently experiencing significant volatility due to uncertainty regarding recession fears, ongoing conflict between Russia/Ukraine and Covid related shutdowns in China, the worlds largest buyer of iron ore.’ Anglesey adds: ‘The iron ore price at the date of the report was $130 per tonne,’ citing data from China's council on foreign relations.
Current stock price: 3.07 pence, up 9.7%
12-month change: up from 0.031p
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