History
- Production commenced at Marampa
- Funding agreement for front end engineering design signed for Wadi Sawawin Project with Korean engineering consultancy STX Industries
- USD 30 million royalty agreement signed with Anglo Pacific Group to fund bankable feasibility study at Isua
- Corporate debt facility increased with Standard Chartered from USD 60 million to 90 million
- Results of prefeasibility study for Marampa defines development plan to 16Mtpa
- Marampa primary resource increased to 971Mt at 31.2% Fe. Total resources including tailings now 1008Mt with 60% in Indicated category
- Scoping study results for 15Mtpa operation at Isua
- USD 110 million raised through issue of convertible bond
- 9.5Mt offtake agreement signed with Glencore for Marampa including a prepayment facility of USD 27 million
- London Mining formed in April by Chris Brown and Graeme Hossie with a mission to develop mines for the global steel industry
- Acquired Greenland Isua licence and raised £1m in initial capital at a $6m post money valuation
- Identified Marampa, Sierra Leone and Brazil opportunities and commenced negotiations
- 9.5Mt offtake agreement signed with Glencore for Marampa including a prepayment facility of USD 27 million
LONDON MINING IS FOCUSED ON IDENTIFYING, DEVELOPING AND OPERATING MINES TO BECOME A SIGNIFICANT PRODUCER OF IRON ORE.
London Mining