London Mining Agreement

London Mining is an expanding producer of high specification iron ore for the global steel industry and  is  focused  on  identifying,  developing   and operating sustainable mines. London Mining commenced sales from the Marampa mine in Sierra Leone in 2012 and expects   to  reach   production capacity of 5Mtpa in 2013. A prefeasibility study was completed in 2011 which shows that Marampa has resources to support a  staged   expansion   to  over 16Mtpa. London Mining has also completed bankable feasibility studies outlining plans for a further 20Mtpa of iron ore production by developing two other mines in Greenland and Saudi Arabia. In   addition   London   Mining is producing from a coke  operation  with  coking  coal  resource  potential in Colombia. The Company listed on London AIM on 6 November 2009.

Wits Basin owns the Bates-Hunter Gold Mine in Central City, Colorado. Discovery of gold at the Bates-Hunter Mine in 1859 kicked off the Colorado gold rush and established Denver as a major American city. All mines in the area went dormant in 1936. This mining district has historically produced more than 4 million ounces of gold. Twenty-five percent (25%) of all the gold mined came from the area immediately surrounding the Bates-Hunter mine. Wits Basin’s property controls the 15 principal veins underlying the mine

London Mining is pleased to announce that it has signed a letter of intent with Wits Basin Precious Minerals, Inc. (“Wits Basin”) which may result in London Mining becoming a 50/50 joint venture partner for Wits Basin‘s iron ore project in Ma Anshan in the People’s Republic of China. The potential transaction remains subject to due diligence and finalisation of definitive legal documents.

Flooding can come from various sources, from coastal waters, from rivers (also known as fluvial flooding) and surface water flooding. O f all these sources London is most vulnerable to surface water flooding. Heavy rainfall can swiftly overwhelm the drainage network, leading to flooding of low-lying areas.

London Mining Keep Words

London Mining (“London Mining” or the “Company”) announces that China Global Mining Resources Limited (“CGMR“), a  subsidiary  of the China Global  Mining Resources   (BVI)   Limited   joint  venture (“JV”) which  is  held  50:50  with  Wits  Basin Precious Minerals Inc  (“Wits Basin”), has received a claim regarding the payment of the  deferred consideration for the purchase  of  the  Sudan  processing plant.   The  claim is to be determined through arbitration.  CGMR is in discussions with the sellers of the plant regarding this claim and a resolution (either by agreement of through arbitration) is expected in the next 6 months.  The Sellers have no legal or commercial recourse to London Mining or any subsidiary other than the CGMR JV with respect to this claim.

Flooding are the most common form of natural disaster in the UK and are now part and parcel of the British winter months; widespread flooding happens at least once a year in the UK. Earlier this year, torrents of rain hit the UK, with Cumbria the worst-affected area; heavy, prolonged rainfall caused bridges and road networks to collapse and four people lost their lives. In 2007, Yorkshire was hit hard by floods and some people are still recovering from the destruction caused by the floods three years later; the floods killed six people and left hundreds of people homeless and thousands without electricity.

Flooding can come from various sources, from coastal waters, from rivers (also known as fluvial flooding) and surface water flooding. Of all these sources London is most vulnerable to surface water flooding. Heavy rainfall can swiftly overwhelm the drainage network, leading to flooding of low-lying areas.

London Mining

London Mining is an  expanding producer of high specification iron ore  for  the  global  steel  industry and  is  focused on  identifying, developing  and  operating  sustainable  mines. London  Mining commenced sales from the Marampa mine in Sierra Leone in 2012 and expects to reach  production capacity of 5 Mtpa  in  2013.  A prefeasibility  study  was  completed  in  2011  which  shows  that Marampa  has  resources  to  support  a  staged expansion to over 16Mtpa. London Mining is pleased to announce that it has signed a letter of intent with Wits Basin Precious Minerals, Inc. (“Wits Basin”) which may result in London Mining becoming a 50/50 joint venture partner for Wits Basin’s iron ore project in Ma Anshan in the People’s Republic of China. The potential transaction remains subject to due diligence  and  finalisation  of  definitive  legal  documents.

 London Mining  has  also  completed  bankable feasibility studies outlining plans for  a  further 20 Mtpa  of  iron  ore  production  by developing  two  other  mines  in  Greenland and Saudi  Arabia.  In addition  London Mining is producing from a coke operation with coking coal resource potential  in  Colombia . The Company  listed on London  AIM  on 6 November 2009.

Flooding are the most common form of natural disaster in the UK and are now part and parcel of the British winter months; widespread flooding happens at least once a year in the UK. Earlier this year, torrents of rain hit the UK, with Cumbria the worst-affected area; heavy, prolonged rainfall caused bridges and road networks to collapse and four people lost their lives. In 2007, Yorkshire was hit hard by floods and some people  are  still  recovering  from  the destruction caused by the floods three years later; the floods killed six people and left hundreds of people homeless and thousands without electricity.

London Mining :CGMR JV RECEIVES CLAIM

London Mining (“London Mining” or the “Company”) announces that China Global Mining Resources Limited (“CGMR”), a subsidiary of the China Global Mining Resources (BVI) Limited joint venture (“JV”) which is held 50:50 with Wits Basin Precious Minerals Inc (“Wits Basin”), has received a claim regarding the payment of the deferred consideration for the purchase of the Sudan processing plant.

The claim is to  be  determined  through  arbitration.   CGMR  is  in discussions with the sellers of  the  plant regarding this claim  and a resolution (either by agreement of through arbitration) is expected in the next 6 months.  The Sellers have no legal or commercial  recourse to London Mining or  any  subsidiary other  than the CGMR JV with respect to this claim.

London Mining  is  focused on identifying, developing and operating scaleable mines to become a  mid-tier  supplier  to  the  global  steel industry. London Mining is developing four iron ore mines in Sierra Leone, Saudi Arabia, Greenland and China as well as  a  coking  coal operation in Colombia. All London Mining’s assets  have  deliverable production with potential for expansion. The Company listed on the Oslo Axess on 9 October 2007 and on AIM in London on 6 November 2009. It trades under the symbols LOND.L and LOND.NO (Reuters) and LOND LN and LOND NO (Bloomberg).

London Mining:Regulatory Information

AIM Rule 26 – Company Information Disclosure

The following information is disclosed in accordance with Rule 26 of the AIM Rules for Companies (June 2009).
Company Information
• Business Description
London Mining is an expanding producer of high specification iron  ore for  the  global  steel  industry  and is  focused on identifying, developing and operating sustainable mines.
• Incorporation and Operation
London  Mining  plc  was  incorporated  in England  and  Wales (registration number 5424040) and its main country of operation is Sierra Leone. London Mining plc also operates in Saudi Arabia and Greenland and has investments in Colombia.

London Mining Plc pledges to support the Extractive Industries Transparency Initiative (EITI) and to promote and initiate transparency in the revenues paid to governments and state-owned companies.

Executive Leadership Team

Graeme Hossie (Chief Executive Officer)

Graeme  co-founded  London  Mining  in  early 2005  and  has  been  instrumental  in  building  the  Group  from  its  first inception  to its current status as one of the leading emerging new producers for the global steel industry.

Rachel Rhodes (Chief Financial Officer)

Rachel was appointed to the Board on 4 September 2008 as Chief Financial  Officer  and  during  her  time  at  London  Mining  has successfully listed the Company on AIM and been integral in raising Group and project finance of around USD 400 million

London Mining

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.