Anglesey Mining Aims to Revive Parys Mountain Copper Production

An established mining company listed on the London Stock Exchange is planning to restart operations at a historic Welsh mine, dating back to the Bronze Age, rich in copper, zinc, and gold reserves.

Anglesey Mining has filed an environmental impact assessment to revive mining activities at Parys Mountain, aiming to develop shafts over 2,000 feet deep.

Situated in the northern region of Anglesey, near Amlwch, the mine has the potential to become the UK’s unique domestic source of copper necessary for manufacturing electric vehicles and other innovations driving the renewable energy transition.

In a related development, gold prices have surged to a new high. Traders are speculating that the US Federal Reserve will cut interest rates at its forthcoming meeting due to a slowdown in the residential construction sector, pushing bullion prices past $2,500 an ounce for the first time.

The announcement saw Anglesey Mining’s shares, quoted on the AIM market, climb by 6% to nearly 1p. Rob Marsden, the company’s CEO, who is 51 years old, hailed the submission of the impact assessment as a “very significant milestone.” The assessment will be reviewed by the North Wales Minerals and Waste Planning Service to decide if infrastructure developments at the site can proceed.

“Evaluating the environmental and social impacts of mining activities for copper, zinc, lead, silver, and gold at Parys Mountain, alongside the economic feasibility, is crucial for the permitting process,” Marsden remarked. “Investors should note that Parys Mountain is undeniably the UK’s largest and most advanced copper/zinc/lead/silver/gold project, with considerable resource potential.”

Parys Mountain’s mining history stretches back to the Bronze Age, originally exploited for metals to produce tools and artifacts from surface deposits. A massive discovery of copper ore in the late 1760s led to extensive mining, propelling Amlwch to global prominence in the copper market, earning it the moniker “Copper Kingdom.” Today, the site attracts walkers and is home to wildlife such as skylarks and meadow pipits, with flora adapted to high copper and zinc levels.

Anglesey Mining emphasized its “commitment to close collaboration” with the local community to safeguard heritage sites, historical landmarks, and areas of scientific interest.