London Mining Developing Mines

London Mining  PLC (LOND.L)

London Mining Plc is developing mines to supply the global steel industry. The Company has iron ore exploration and development projects located in Sierra Leone, Saudi Arabia, Greenland, China and Chile, and a coking coal project in Colombia. The Company’s products include pellet feed, P1 sinter feed / P2 sinter/pellet and DR pellets. The Marampa mine is a 13.82 square kilometers brownfields site. The Company focuses to develop Marampa in two phases. The Wadi Sawawin Project is located in the north-west corner of Saudi Arabia, 125 kilometers from Tabuk and 60 kilometers from the Red Sea port of Duba. Greenland includes the Isua Project. Isua is located 150 kilometers Northeast of Nuuk. Isua will produce a 70% Fe pellet feed concentrate. London Mining had completed three seasons of exploration drilling on the Isua Project.

London Mining raises shares of Vits

London Mining Announcement.

London Mining Plc is pleased to announce its intention to issue between 14.5 and up to 17.8 million new shares in a private placement. The private placement is expected to generate gross proceeds of NOK 320 million, and is managed by Pareto Securities ASA.

Chris Brown, Managing Director of London Mining Plc, is pleased to announce that the Board has decided to increase the Company's equity base through a private placement of up to 17.8 million new shares in a book building process directed towards professional and institutional investors raising gross proceeds of up to NOK 320 million. Price range in the transaction has been set to NOK 18 to NOK 22. The purpose of the private placement is to finance the capital expenditure at the Company's wholly owned Marampa iron ore mine in Sierra Leone, and to fund general working capital requirements.

London Mining coal deal

The Company has agreed in principle a supply agreement with a local coking coal producer at a small discount to local market prices for up to 300ktpa of low volatility coking coal from mines being developed on neighbouring properties to London Mining’s coke ovens. Following a high-level drilling programme on these properties, London Mining decided to enter into a supply agreement in preference to the original proposed joint venture structure. The Company is in the process of investigating the potential of further concessions both in proximity to the coke ovens and also in other areas with high coking coal potential. An agreement has been signed for a concession in the vicinity of the coke ovens and which the Company is currently drilling with the expectation of developing a low and mid volatility coking coal mine to supply the coke ovens.

London is the capital city of England and the United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures 

Mining

What is your main objective?
 
London Mining’s objective is on identifying, developing and operating mines to become a significant producer of high quality iron ore to the global steel industry.

When was the company incorporated?
April 2005.

How many people do you employ?
In Q1 2012 the average monthly number of employees for continuing operations (including Directors) was:

Marampa (Sierra Leone)	1288
Wadi Sawawin (Saudi Arabia)	4
Isua (Greenland)	5
Colombia	54
Corporate	30
Technical Service team	5
Total	1386

London Mining Coal Division

Coal Division Overview

London Mining made its first coal acquisitions in August 2008 as part of an overall strategy to develop a complimentary metallurgical coal supply for its iron ore production and in doing so take advantage of the robust long-term outlook for thermal coal. The Company owns 100% of London Mining Colombia, a coking coal developer in Colombia.

Mining in London

London Mining:

Image of London Mining site.