REG-Anglesey Mining Plc: Anglesey Mining plc and RheEnergise Partner to Explore Underground Energy Storage at Parys Mountain Mine, through the Rehabilitation of the Existing 300m Deep Morris Shaft.

Anglesey MiningAnnouncement

18/02/2025 07:15

 

 

Trading Symbol

AIM: AYM

 

18 February 2025

 

 

Anglesey Mining plc

 

Anglesey Mining plc and RheEnergise Partner to Explore Underground Energy
Storage at Parys Mountain Mine, through the Rehabilitation of the Existing
300m Deep Morris Shaft

 

Anglesey Mining and RheEnergise are pleased to announce the signing of a
memorandum of understanding (MOU) to explore the potential deployment of
RheEnergise's innovative High-Density Hydro® (HD Hydro) energy storage
technology at the Parys Mountain mine site. The collaboration aims to provide
an energy storage solution to support existing and planned renewable energy
projects on the Isle of Anglesey and also a reliable source of clean energy
for future mining and mineral processing operations. High-Density Hydro® (HD
Hydro) energy storage is based on traditional pumped energy storage technology
but rather than using water, a high-density fluid which is 2.5 x more dense
than water is used in a closed loop.  This technology requires 2.5 x less
elevation than water-based systems for a given output and installations would
also be correspondingly smaller and cheaper.

The MOU outlines the two companies' intention to jointly investigate the
feasibility of utilising the modern 300-meter-deep Parys Mountain Morris Shaft
to host a hydro-energy storage project. This initiative would not only
demonstrate the capabilities of RheEnergise's HD Hydro technology in an
operational environment but also facilitate the redevelopment of the
underground mine at Parys Mountain.

The initial focus of the collaboration will be on conducting a comprehensive
scoping study to assess the technical and economic viability of the proposed
project. This will involve evaluating the potential environmental impacts and
identifying any necessary permits or regulatory approvals.

The parties have agreed to work together to secure non-dilutive funding to
support the project through the various stages of development, from
feasibility study to construction and commissioning, including de-watering of
the Morris shaft.

" RheEnergise has shown that it is able to deliver demonstration projects here
in the UK,” said Rob Marsden, Chief Executive of Anglesey Mining. “The
infrastructure and mothballed assets at Parys Mountain provide an ideal site
at which to place a commercial scale plant. Anglesey Mining is focused on
delivering a polymetallic underground mine at Parys Mountain. Securing a
source of consistent green power on site while benefiting from the synergies
between deployment of the technology and establishing a presence back
underground at Parys Mountain is key to the strategy of de-risking the
incremental development of the mine.”

"We are delighted to have the opportunity to work with Anglesey Mining on this
groundbreaking project," said Stephen Crosher, Chief Executive of RheEnergise.
"The Parys Mountain site presents a unique opportunity to demonstrate the
versatility and scalability of our HD Hydro technology. We believe that this
project will serve as a model for future deployments of energy storage
solutions at mine sites around the world."

 

About Anglesey Mining

Anglesey Mining is a leading mineral exploration company focused on the
development of the Parys Mountain polymetallic deposit in Wales. The company
is committed to sustainable mining practices and seeks to minimize its
environmental impact while maximizing the economic benefits of its operations.

Anglesey Mining is traded on the AIM market of the London Stock Exchange and
currently has 461,593,017 ordinary shares in issue.

Anglesey Mining is developing the 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au VMS
deposit in North Wales, UK with a reported resource of 5.3 million tonnes at
over 4.0% combined base metals in the Measured and Indicated categories and
10.8 million tonnes at over 2.5% combined base metals in the Inferred
category.

Anglesey Mining also holds a 49.8% interest in the Grängesberg iron ore
project in Sweden and 11.9% of Labrador Iron Mines Holdings Limited, which
through its 52% owned subsidiaries, is engaged in the exploration and
development of direct shipping iron ore deposits in Labrador and Quebec.

 

About RheEnergise

RheEnergise is an innovative energy storage company pioneering the development
of High-Density Hydro® technology. The company's mission is to provide
cost-effective and sustainable energy storage solutions that can help
accelerate the transition to a low-carbon economy.

How the HD Hydro system works: at times of low energy demand, with associated
low costs, the High-Density Fluid R-19™ is pumped uphill between storage
tanks (buried underground). The storage tanks are connected by underground
pipes. As energy prices rise, the benign fluid is released downhill and passes
through turbines, generating electricity to supply power to the grid. 
Projects will range from 5MW to 100MW of power and can work with vertical
elevations as low as 100m or less. It means that, unlike conventional pumped
hydro energy storage, a RheEnergise HD Hydro system can operate beneath small
hills rather than mountains; the system requires 2½ times less vertical
elevation. It also means that there are many more sites suitable for
RheEnergise projects – in the UK and across the world.

RheEnergise’s analysis of potential project opportunities has indicated that
there are c6500 site opportunities in the UK, c115,000 in Europe, c345,000 in
North America and c500,000 in Africa and the Middle East.

In November 2022, RheEnergise was awarded a UK £8.25m small business research
initiative (SBRI) contract from the UK Government’s Net Zero Innovation
Portfolio (NZIP) to deploy a first-of-a-kind demonstrator at a site near
Plymouth, Devon.

 

For further information

RheEnergise  -  www.rheenergise.com / LinkedIn @rheenergise

Stephen Crosher, Chief Executive: sc@rheenergise.com

Philippa Rogers, Communications Manager: 07971 269559 / pr@rheenergise.com

 

Anglesey Mining plc - www.angleseymining.co.uk

Rob Marsden, CEO: 07531 475111 / rob.marsden@angleseymining.co.uk

Anglesey Mining plc

Rob Marsden, Chief Executive Officer – Tel: +44 (0)7531 475111

Andrew King, Chairman – Tel: +44 (0)7825 963700

Davy - Nominated Adviser & Joint Corporate Broker

Brian Garrahy / Daragh O’Reilly – Tel: +353 1 679 6363

Zeus Capital Limited - Joint Corporate Broker

Katy Mitchell / Harry Ansell – Tel: +44 (0)161 831 1512

 

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