Company expects iron ore mine to be profitable under pessimistic price scenarios and “extremely profitable” under current industry expectations.
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London Mining Plc is a UK-based company that is developing mines for the steel industry. It has 100% of the Marampa hematite iron ore mine in Sierra Leone, 100% of the Isua magnetite iron ore project in Greenland, a 25% stake in on the Wadi Sawawin joint venture in Saudi Arabia and a 100% stake of an coking coal development project in Colombia. The Company listed on the Oslo Stock Exchange on 9th October 2007 and on London AIM on 6 November 2009.