19th Jul 2022 11:43
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 USD688 million, Anglesey says. "The study assumed an iron ore price of USD120 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 world’s largest buyer of iron ore." Anglesey adds: "The iron ore price at the date of the report was USD130 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
By Tom Budszus; [email protected]
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