Anglesey Mining, a London-listed company, has submitted an environmental impact assessment for a proposed mine on Parys Mountain in Wales, aiming to reopen this historic site that dates back to the Bronze Age. The mine, located near Amlwch in the north of Anglesey, is believed to still hold significant amounts of copper, zinc, and gold. If successful, Parys Mountain could become Britain’s only domestic source of copper, an essential metal for electric vehicle production and other renewable energy technologies.
This development comes at a time when gold prices have reached a new record, exceeding $2,500 an ounce, amid expectations of interest rate cuts by the US Federal Reserve due to a slowdown in residential construction. Following the announcement, Anglesey Mining’s shares rose by 6 percent to nearly 1p.
Rob Marsden, the company’s chief executive, referred to the submission of the impact assessment as a “very significant milestone.” The North Wales Minerals and Waste Planning Service will now evaluate the proposal to decide if the company can proceed with infrastructure development at the site. Marsden stressed the importance of the environmental and social impact assessment, along with the economic feasibility study, in securing the necessary permits to advance the project through investment and financing stages, ultimately leading to mineral production.
Parys Mountain is noted as the largest and most advanced copper, zinc, lead, silver, and gold project in the UK, with considerable potential for resource expansion. The area’s mining history dates back to the Bronze Age, when local tribes extracted metals from surface deposits. Large-scale mining commenced in the late 1760s following the discovery of a significant copper ore deposit, which led to Amlwch’s temporary dominance in the global copper market, earning it the nickname “Copper Kingdom.”
Today, Parys Mountain is a popular spot for walkers and supports various wildlife species, including skylarks and meadow pipits, with local plants having adapted to high concentrations of copper and zinc. Anglesey Mining has committed to collaborating with the local community to preserve surrounding heritage sites, historic monuments, and areas of scientific interest as it advances its plans to revive the mine.
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