Anglesey shares slide after Parys Mountain scoping report approval
By Josh White
Date: Tuesday 07 Jan 2025
(Sharecast News) - Shares in Anglesey Mining were sliding on Tuesday, after it announced that its environmental impact assessment (EIA) scoping report for the Parys Mountain Mine had been approved by Cyngor Sir Ynys Môn/Anglesey County Council, although some more work was needed.
The AIM-traded firm said the North Wales Minerals and Waste Planning Service had provided detailed feedback, broadly agreeing with the environmental scope and methodologies proposed by the company.
It said the approved scope included areas such as ecology and biodiversity, visual impact, air quality, noise and vibration, labour conditions, and human health.
However, additional work was recommended in three areas - ground and surface water, cultural heritage, and traffic and transportation.
Anglesey said it would address those recommendations with guidance from specialists and existing studies.
For ground and surface water, Anglesey anticipated that the restart of mining and processing operations would have a net positive environmental impact, aligning with feedback from consultants.
Regarding cultural heritage, the company said it recognised the significance of the Parys Mountain site, located within the Amlwch and Parys Mountain Registered Landscape of Outstanding Historic Interest.
It said it planned to demonstrate that its activities would enhance the historic character of the area.
On traffic and transportation, a full transport assessment would be conducted in line with the council's recommendations.
Anglesey said it remained committed to minimising environmental impacts while maximising economic opportunities for local communities.
"I'm absolutely delighted that the proposed mitigations to potential environmental impacts, put forward by the company, have been approved by Cyngor Sir Ynys Môn/Anglesey County Council," said chief executive officer Rob Marsden.
"I'm grateful to the North Wales Minerals and Waste Planning Service for their diligence in forming their opinion of the scope, and for the feedback that will make this project better for all stakeholders."
Marsden said there were three areas where reasonable requests for enhancements to the scope had been requested, adding that Anglesey was "happy to comply" with the requests so that a more informed planning decision could be made.
"The permitting objective of Anglesey Mining remains unchanged, that is to make a planning application, that when enacted, will be seen to provide economic returns to investors, job opportunities, mitigation of the impacts to the environment and enhanced respect for, and appreciation of, the mining heritage of Parys Mountain, thus earning us a social licence to operate."
At 1208 GMT, shares in Anglesey Mining were down 17.33% at 0.62p.
Reporting by Josh White for Sharecast.com.
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