London Mining is a UK-based company that
is focused on identifying, developing and operating scaleable mines to become a
mid-tier supplier to the global steel industry. The Company was founded in 2005
and is headquartered in London. The Group’s principal assets have actual or
anticipated production and the ability for further expansion through either
upgrading resources or acquisition.
The Group currently has four principal
projects in iron ore, which it is either developing or operating on its own or
through joint ventures. The London Mining is currently undertaking resource
definition programmes to ensure that all of these principal projects will have
JORC standard resources in accordance with the timeframes set out below. The
Directors believe that the total iron ore concentrate production capacity of the
Group’s four principal projects (on a 100% basis) has the potential to rise
from 0.4Mtpa in 2009 to 14Mtpa in 2014 and to in excess of 20Mtpa in 2018. The
Company also has a number of investments in other iron ore and coal development
opportunities.
Flooding can come from various sources, from coastal waters, from rivers (also known as fluvial flooding) and surface water flooding. Of all these sources London is most vulnerable to surface water flooding. Heavy rainfall can swiftly overwhelm the drainage network, leading to flooding of low-lying areas.
During the 2007 floods, more than 1,000 homes, over 80 schools and parts of several hospitals were flooded in London despite London receiving only a third of the rainfall that affected other areas of the country. Climate change is projected to increase the frequency and intensity of heavy rainfall events, whilst London’s growth will mean that more people and assets will be at risk.
Flooding can come from various sources, from coastal waters, from rivers (also known as fluvial flooding) and surface water flooding. Of all these sources London is most vulnerable to surface water flooding. Heavy rainfall can swiftly overwhelm the drainage network, leading to flooding of low-lying areas.
During the 2007 floods, more than 1,000 homes, over 80 schools and parts of several hospitals were flooded in London despite London receiving only a third of the rainfall that affected other areas of the country. Climate change is projected to increase the frequency and intensity of heavy rainfall events, whilst London’s growth will mean that more people and assets will be at risk.
The strategy of London Mining is to
focus its activities on deliverable iron ore projects, where the key features
are scaleable production, financing opportunities and a clear route to market.
The ability to accelerate projects through to efficient producing mines,
utilising its experienced technical and operating team, is an important part of
the Company’s strategy.
In August 2008, the Company sold its
Brazilian operations for a total consideration of USD810 million. USD68 million
of the proceeds of the sale were used to redeem bonds issued by the Company to
finance the acquisition of the Brazilian operations and a further GBP219
million was returned to shareholders. The balance after costs was retained by
the Company for re-investment. As at 30 September 2009, the Company had
consolidated Group cash of USD230 million (unaudited), which it has principally
allocated for the development of its existing projects.
London Mining PLC (LOND.L)
London Mining Plc is developing mines to supply the global steel
industry. The Company has iron ore exploration and development projects
located in Sierra Leone, Saudi Arabia, Greenland, China and Chile, and a
coking coal project in Colombia read more...
Wits Basin Precious Minerals Inc. (OTC BB: WITM) is a minerals exploration and development company that holds an impressive property portfolio.Wits Basin owns the Bates-Hunter Gold Mine in Central City, Colorado. Discovery of gold at the Bates-Hunter Mine in 1859 kicked off the Colorado gold rush and established Denver as a major American cityWits Basin currently owns 35% of the issued and outstanding shares of capital stock of Kwagga Gold, a wholly-owned subsidiary of AfriOre International.Wits Basin's exceptionally strong management team includes professionals with over 150 combined years of business, mining and technical experience
Wits Basin Precious Minerals Inc. (OTC BB: WITM) is a minerals exploration and development company that holds an impressive property portfolio.Wits Basin owns the Bates-Hunter Gold Mine in Central City, Colorado. Discovery of gold at the Bates-Hunter Mine in 1859 kicked off the Colorado gold rush and established Denver as a major American cityWits Basin currently owns 35% of the issued and outstanding shares of capital stock of Kwagga Gold, a wholly-owned subsidiary of AfriOre International.Wits Basin's exceptionally strong management team includes professionals with over 150 combined years of business, mining and technical experience
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.
