London Mining
London Mining is incorporated and registered in the UK and is developing mines to supply the global steel industry. The Company has iron ore mining, exploration and development projects located in Saudi Arabia, Greenland, Sierra Leone, Mexico and coal projects in South Africa and Colombia. London Mining has off-take agreements in place with Chinese steel producers. The company is listed on the Oslo Stock Exchange.
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London Mining and African Minerals settle Marampa dispute
London Mining plc (OSX: LOND) and African Minerals Ltd (AIM: AMI) said the almost year long dispute over the Marampa area is over as the two companies have agreed to the boundaries of their respective areas.
The Government of Sierra Leone welcomed the agreement and said it would acknowledge the new boundaries in revised exploration and mining licenses for the two companies.
"We are delighted that this misunderstanding has now been resolved and both our companies are fully committed to the development of the iron ore industry in Sierra Leone," the companies said in a joint statement.
The dispute erupted when London Mining allegedly trespassed into the area licensed to African Minerals and removed iron ore tailings to its own territory. London Mining claimed it had a valid 25 year license covering the old Marampa mines area previously mined by DELCO. The company sought an injunction from the government to keep African Minerals out of the area, while African Minerals said last September it would sue London Mining for the trespass.
The contested area covered 30% of London Mining's lease.
London Mining simultaneously announced it settled its own disputes with the government of Sierra Leone, also related to the Marampa area.
Other London Mining news
- London Mining enters iron ore JV in Chile
2010-07-30 - Colombian Potential for Coking Coal Producers
2010-05-04 - London Mining's Chinese joint venture posts $6 million net earnings
2010-03-22 - London Mining AIM listing scheduled for November 2009
2009-10-16 - London Mining appoints adviser and joint stock broker to proceed with AIM listing, targets 20Mtpa production by 2018
2009-10-12
