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Anglesey Mining has submitted a 220-page report that it hopes will lead to the reopening of the Mynydd Parys copper mine at Parys Mountain, north Wales.
Initial tests around the mountain have located densely populated deposits of copper, zinc, lead, silver and gold worth around $1bn (£755m), according to Anglesey Mining, a UK company founded in 1984.
Submitting the Environmental Impact Assessment Scoping report is the first step of an environmental impact assessment that could begin new underground mining operations at the location.
The company has pledged that any future mining at the site will be carried out underground, potentially using an existing mining shaft that was built in the 1990s.
According to a press statement, the company is hoping to create around 120 direct jobs in Anglesey, an island in Wales described by its local council as a place of economic concern.
Rob Marsden, CEO of Anglesey Mining, said in an interview with a local UK media outlet that moving forward with plans to recommission the mine was a "very significant milestone" but restarting the mine requires capital investment of $100m.
Redevelopment would include the construction of an on-site processing plant.
Marsden added that the mining company was "very aware of its (Parys Mountain) heritage with the great open pit, pearl engine house and windmill up on the mountain. Those areas won’t be affected at all."
According to the miner, around 40% of revenues would be generated from copper and 33% from zinc.
The environmental scoping report has been submitted to the North Wales Minerals and Waste Planning service, which will have final say on if the mine can restart.
However, additional planning permission will be required before any mining operations can take place.
The local community will have their say during the planning process but Aled Morris Jones, Councillor for the Twrcelyn ward, has welcomed the plans for the mine’s development.
"Anglesey Mining hits “significant milestone” in reopening of copper mine" was originally created and published by Mining Technology, a GlobalData owned brand.
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