Anglesey Mining submits environmental impact scoping report

16th Aug 2024 09:55

(Sharecast News) - Anglesey Mining announced a significant milestone for its Parys Mountain project on Friday, with the submission of an environmental impact assessment (EIA) scoping report to the North Wales Minerals and Waste Planning Service on 31 July.

The AIM-traded firm said the submission marked the first stage in the formal EIA process, and followed nearly two years of extensive studies and on-site work, with a spend of around £0.3m.

It said the scoping report outlined the potential environmental and social impacts of the proposed mining operations, focusing on significant areas that would be assessed in the final EIA report.

The current project description, still in an indicative stage, would be refined as further mining engineering studies, economic analyses, and stakeholder consultations took place.

Notably, the project planned to employ underground mining methods, with no open-pit or opencast mining proposed.

Once validated, the company said the scoping opinion request would be placed on the Anglesey Council planning public register, allowing public access and commentary.

The company planned to issue a further update at that time.

Anglesey said it was committed to collaborating closely with stakeholders, including local communities, to minimise environmental impacts and maximise economic benefits.

Preservation of heritage sites, areas of special scientific interest (SSSIs), and historic monuments was described as a key consideration in determining the location of new surface infrastructure, such as tailings management facilities and ventilation shafts.

The board said the Parys Mountain mine was designed to produce essential metals including copper, zinc, silver, and lead, crucial for the UK's transition to electric energy.

It said the decision to submit a new planning application, rather than amend the existing one, stemmed from the discovery of additional mineral resources and advancements in mining and environmental technologies since the original planning permission.

"The submission of the environmental impact assessment scoping report for the Parys Mountain Project is a very significant milestone for Anglesey," said chief executive officer Rob Marsden.

"The assessment of the environmental and social impacts of mining of copper, zinc, lead, silver and gold from Parys Mountain, in addition to the economic feasibility, will play a major part in the permitting processes required to progress the project through investment and financing to mineral production.

"It is worth reminding investors that Parys Mountain is demonstrably the largest and most advanced copper-zinc-lead-silver-gold project in the UK with a substantial resource upside.

"In addition, the project is favourably located on a previously permitted, development site with significant existing infrastructure already in place."

Reporting by Josh White for Sharecast.com.