Anglesey Mining Advances Hydro-Power Storage Project, Restructures Debt with Energold Minerals
Anglesey Mining has commenced a pre-feasibility study for a hydro-power energy storage project at Parys Mountain, aimed at supporting future mining operations while managing risks. The company plans to restructure its debt with Energold Minerals, eliminating approximately £4 million in exchange for its interest in Grängesberg Iron AB, thereby reducing its total debt to around £100,000. Despite reporting a loss of £334,699 for the six months ending September 30, 2025, Anglesey remains focused on its strategic initiatives.
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Anglesey Mining has initiated a pre-feasibility study (PFS) for a high-density fluid hydro-power energy storage project at Parys Mountain, which could facilitate the mining of VMS mineral deposits. The project shows a positive business case, with identified risks manageable.
The energy project aims to support the establishment of an underground mine without limiting future options. As of September 30, 2025, Anglesey Mining announced the termination of its management rights over Grängesberg Iron AB (GIAB) due to a notice from Eurmag AB.
GIAB had approximately US$9 million in outstanding loans. A binding letter of intent with Energold Minerals Inc. on December 5, 2025, will allow Anglesey to eliminate about £4 million of debt in exchange for its interest in GIAB and Labrador Iron Mines Holdings Limited, reducing total debt to roughly £100,000. The company reported a loss of £334,699 for the six months ending September 30, 2025, with no revenue generated during this period.
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