London Mining

London Mining has total iron ore resources of 2.2 billion tonnes with targeted production of over 30Mtpa of high grade concentrates planned from its projects in Sierra Leone, Greenland and Saudi Arabia. Our strategy is to provide a viable alternative to the diversified miners and upstream integration by selecting assets with unique competitive advantages and high margin potential in countries with a national interest in mining.

Disruption caused from a serious flooding could result in losses for the UK as a whole, notably the tourism industry, as London is not only a popular destination but a stopover for people traveling the country.

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 ("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.  

Disruption caused from a serious flooding could result in losses for the UK as a whole, notably the tourism industry, as London is not only a popular destination but a stopover for people traveling the country.Disruption caused from a serious flooding could result in losses for the UK as a whole, notably the tourism industry, as London is not only a popular destination but a stopover for people traveling the country.