LONDON MINING RESOLVES DISPUTE WITH AFRICAN MINERALS AND THE
GOVERNMENT OF SIERRA LEONE OVER MARAMPA
(Thomson Reuters ONE) - In a joint release today, London Mining Plc ("London Mining") andAfrican Minerals Limited ("AML") are pleased to announce that theyhave settled each others claims over the Marampa area and have agreedon the boundaries of their respective areas. The Government of SierraLeone has stated that it will incorporate the agreed boundaries in arevised Exploration Licence for AML and a revised Mining Lease forLondon Mining.In addition, London Mining and the Sierra Leone Government haveamicably resolved their long running dispute in respect of theMarampa area.The Government of Sierra Leone has fully endorsed the arrangementsbetween AML and London Mining and is delighted that both companiesare now in a position to move forward in the development of Marampawhich will have significant benefits both to the local area and toSierra Leone as a whole.Mr Frank Timis, Executive Chairman of AML and Mr Graeme Hossie,Managing Director of London Mining stated"We are delighted that this misunderstanding has now been resolvedand both our companies are fully committed to the development of theiron ore industry in Sierra Leone."For more information, please contact:InvestorsLondon Mining PlcGraeme Hossie, Managing Director +44 (0) 20 7201 5000Rachel Rhodes, Financial DirectorThomas Credland, Head of Investor RelationsMediaCrux Kommunikasjon (Norway)Charlotte Knudsen +47 97 56 19 59Threadneedle Communication (UK)Laurence Read +44 (0) 20 76539850About London MiningFounded in April 2005, London Mining is incorporated and registeredin the UK. In 2007, London Mining raised over USD 185 million toadvance iron ore production from its projects, and listed on the OsloAxess, a marketplace regulated by the Oslo Stock Exchange. In 2008,it sold its Brazilian mine to Arcelor Mittal for USD810m and returnedGBP220m to shareholders. The Company currently has iron ore projectsand mines in China, Sierra Leone, Saudi Arabia and Greenland, andcoal assets in South Africa and Colombia. London Mining trades underthe Reuters symbol LOND.OL and Bloomberg symbol LOND:NO.Recently reported operational milestonesIron oreChina * Group to report production from Q2 2009 * Assessment of safety, operations and expansion plans underwaySierra Leone * Final phase engineering and production decision expected in H2 2009 * Truck and barge route established to deep water port for exportSaudi Arabia * Positive feasibility study complete for first 5mtpa project phase. * Independent market study identified significant supply deficit of c.20mtpa of direct reduction (DR) pellets in the Middle East and North Africa (MENA). * Bankable feasibility study underway Greenland * Resource definition and engineering work towards prefeasibility study ongoing * Updated resource statement and prefeasibility study planned in late H2 2009CoalSouth Africa * Updated resource statement received from DMC Energy on Rietkuil project .Colombia * London Mining is reviewing strategic opportunities relating to its 20% investment in International Coal Company.http://hugin.info/137683/R/1336292/317961.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 21.08.2009 - 08:00 Uhr
Sprache: Deutsch
News-ID 4939
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 341 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"LONDON MINING RESOLVES DISPUTE WITH AFRICAN MINERALS AND THE
GOVERNMENT OF SIERRA LEONE OVER MARAMPA"
steht unter der journalistisch-redaktionellen Verantwortung von
London Mining Plc (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
