Anglesey Mining said in the near term its opertaions would focus on its State-1 deposits, including the James Mine, five smaller satellite deposits and some historical stockpiles.

It believed that sufficient confidence levels exist to resume normal operations in April 2013.

The company had previously said the resumption of mining operations in April 2013 would depend on a number of inter-related factors including being reasonably confident that the forecast world iron ore prices would remain around $110, or higher, on a CFR China basis at least for the 2013 operating season.

The company was targeting about 1.7-2.0 million wet tonnes of saleable iron ore production in 2013.

Cash operating costs in 2013, consisting of mining, processing, rail and transportation and site general and administrative costs, are expected to be approximately $65-$70 a tonne of product sold, unloaded at the Port.

During the third quarter to end-December, the company sold three shipments totalling 425,500 dry tonnes of iron ore and recognised revenue of $24.7 million from the sale of these shipments.

"Revenue for the third quarter was negatively impacted by low realized iron ore prices," it said.

For the quarter ended Dec. 31, 2012, Anglesey booked a loss of $16.1 million, or $0.19 a share, which included a depletion and depreciation charge of $5.1 million or $0.06 a share.


At 12:33pm: (LON:AYM) Anglesey Mining share price was +0.26p at 9.51p