8th Apr 2025 18:36
(Alliance News) - Anglesey Mining PLC on Tuesday said it has launched a pre-feasibility study for a hydro-power energy storage project at its Parys Mountain site in Wales, following the publication of a conceptual study indicating a positive business case.
Anglesey, which has base metals operations in North Wales, Sweden and Canada, said the study supports a plan to deploy RheEnergise Ltd's high-density hydro storage technology in repurposed underground workings and infrastructure at the mothballed copper-lead-zinc-silver mine.
The proposed system would offer energy storage and grid stability services, initially marketing output to third parties. In the future, Anglesey may explore an energy offtake agreement to power its own mining and processing operations, the company said.
Anglesey and RheEnergisen will immediately begin a pre-feasibility study to assess sizing and deployment options. A key focus will be identifying third-party funders and assessing government incentives for renewable energy storage and UK critical mineral supply.
"This hydro project would support a reliable, firm power supply needed for mining and processing operations," Anglesey said, adding that the venture aligns with its strategy of incremental development and would not compromise future mining activities.
Anglesey said Parys Mountain is the UK's most advanced site for primary copper, zinc, lead and silver mining and is listed among the government’s critical mineral projects.
Anglesey said the project could become the first commercial deployment of RheEnergise's technology, helping it achieve Technology Readiness level 8. The company said using on-site voids for storage and waste processing to produce the dense fluid offers key operational synergies.
Shares in Anglesey Mining closed up 4.0% at 0.91 pence in London on Tuesday.
By Eva Castanedo, Alliance News reporter
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