New CEO to lead North Wales copper/zinc mine to production
London-listed Anglesey Mining, which is developing a copper/zinc deposit in North Wales, has appointed a new CEO, who will be tasked with moving the Parys Mountain project towards production and raising the funds needed to do so.
The company on Thursday announced the appointment of Jo Battershill as CEO and director with effect from August 1, taking over from Bill Hooley who would relinquish his position as CEO to become deputy chairperson.
Battershill, a mining geology graduate from Camborne School of Mines, has extensive experience in operations and in finance in Australia and the UK.
“I am very pleased to welcome Jo into Anglesey Mining and we are delighted that we have been able to attract someone with his strong operations background and financing experience. He has great enthusiasm and brings vigour and deep relevant technical and finance knowledge to the company,” said chairperson John Kearney.
The Parys Mountain mine, on the Anglesey island, would require about $99-million in initial capital, according to the 2021 preliminary economic assessment (PEA). This, together with all other pre-decision project costs, as well as ongoing corporate costs needs to be financed.
The company indicated that it was examining possible financing routes, including the traditional equity-debt scenario, as well as joint venture and other arrangements. Detailed results of the PEA had been made available to several entities who had shown interest in the project.
Anglesey stated that it had become clear that financing opportunities would be enhanced with some additional work to further derisk the project and that a feasibility study would be required.
According to the PEA, completed by Micon International, the project has a mineral resource of 5.2-million tonnes of indicated resources at a combined base metal grade of 4.3%, together with 11.7-million tonnes of inferred resources at a combined base metal grade of 2.8%.
The resource estimate in the PEA indicates that Parys Mountain, reputedly the largest copper mine in the world in the eighteenth century, contains 160 000 t of copper in situ, with a gross contained metal value in the ground of more than $1.4-billion.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation