London Mining plans Marampa first iron ore shipment in...

London Mining plans Marampa first iron ore shipment in Q4.

Monday, 30 May 2011

London Mining told investors that it remains on target for the third quarter commissioning of the Marampa iron ore mine in Sierra Leone, and the first shipment is expected to leave the mine in the fourth quarter of 2011.

In this morning's operational update the group said it has made significant progress at Marampa in the year to date. Notable achievements include the completion of environmental permitting in January, securing an off-take deal with Glencore and a JORC resource update to 1 billion tonnes.

It said that phase one construct is more than 60% complete and it has now completed the pre-feasibility study for the 16 million tonne (per annum) phase two expansion.

The group acknowledged that it fell behind schedule because of delays at the Freetown Port which also coincided with public holidays but it said it has cleared the bottleneck and it will use double shifts to make up the lost time.

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