Anglesey Mining's LIM books first iron ore sales for 2012

Anglesey Mining said Labrador Iron Mines has recorded the first sale of ore malaysia standard for sand miningfor 2012.

Anglesey has a 26 per cent stake in LIM, which operates the James mine and a number of associated operations in the Schefferville area of western Labrador and north-eastern Quebec.

The James mine commenced its first full season of production on April 2 and is on track to mine approximately 3 million tonnes of iron ore, with a saleable production target of 2 million tonnes for 2012.

The company relayed an operations update from LIM covering the first six weeks of the 2012 production season.

The first shipment containing approximately 170,000 wet tonnes of direct rail ore at a grade of 63.65 per cent iron departed the Port of Sept-Iles on May 19.

Going forward, at least two shipments are anticipated each month during the operating year, with the next shipment scheduled in early June.

The Silver Yards processing facility re-started for the season on May 18 and the Phase 3 plant expansion, designed to increase production capacity to approximately 2 million tonnes per year, is slated for completion in the summer.

LIM chairman and chief executive John Kearney said: "This has been an extremely positive start to 2012, as we have executed on key milestones that will ensure a successful operating season.

"With LIM's first shipment and sale of iron ore, we are off to a good start to meet our production target of two million tonnes