Anglesey buys stake in iron mine

Anglesey Mining yesterday said it has agreed to buy a controlling stake in the Grangesberg iron ore mine in Sweden. The Aim-listed miner, which is carrying out exploration work at its Parys Mountain deposit in North Wales, said the mine has strong future potential. It is expected that the mine will be able to produce 2m to 2.5m tonnes per year of saleable iron ore concentrate for the European, Middle East and Asian steel markets.