London Mining Venture

London Mining is an expanding producer of high specification iron ore for the global steel industry and is focused on identifying, developing and operating sustainable mines. London Mining commenced sales from the Marampa mine in Sierra Leone in 2012 and expects to reach production capacity of 5Mtpa in 2013. A prefeasibility study was completed in 2011 which shows that Marampa has resources to support a staged expansion to over 16Mtpa. London Mining has also completed bankable feasibility studies outlining plans for a further 20Mtpa of iron ore production by developing two other mines in Greenland and Saudi Arabia. In addition London Mining is producing from a coke operation with coking coal resource potential in Colombia. The Company listed on London AIM on 6 November 2009.

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 city. All mines in the area went dormant in 1936. This mining district has historically produced more than 4 million ounces of gold. Twenty-five percent (25%) of all the gold mined came from the area immediately surrounding the Bates-Hunter mine. Wits Basin’s property controls the 15 principal veins underlying the mine

London Mining is pleased to announce that it has signed a letter of intent with Wits Basin Precious Minerals, Inc. (“Wits Basin“) which may result in London Mining becoming a 50/50 joint venture partner for Wits Basin’s iron ore project in Ma Anshan in the People’s Republic of China. The potential transaction remains subject to due diligence and finalisation of definitive legal documents.

Flooding can come from various sources, from coastal waters, from rivers (also known as fluvial flooding) and surface water flooding. O f 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.

 

London Mining Operations

Under the terms of a revised  joint  venture agreement signed on 20 July 2010, in  return  for   no  further    material  funding   requirements  and  no   further  dilution  in subsequent equity   funding’s, London   Mining  is  to  recieve a direct interest of 25% in the Wadi Sawawin project  through its  joint venture partner in  the  project  National  Mining  Company (NMC).  NMC  holds  the historical  exploitation   licence  for   the  Wadi  Sawawin  project  and  three  adjacent  exploration   licences . This  agreement  supersedes  the  previous agreement whereby London Mining held a 50% interest in a joint venture company, Saudi London Iron Limited, into which the  licences  were  going  to  be  transferred. Upon  closing  London Mining  will receive shares equal to 25% of the issued share capital of NMC.

Wits  Basin  Precious  Minerals  Inc. (OTC  BB:  WITM)  holds  an  impressive property portfolio.China Global Mining Resources (CGMR), Wits Basinís 50/50 joint venture with London Mining Plc, controls over  69 million tonnes of magnetite iron ore resources in a single deposit that can  be  processed with existing facilities at the  Companyís Maanshan Xiaonanshan Mining Co., Ltd. and the Nanjing Sudan Mining Co., Ltd., an iron  ore  mine and concentrator plant located in the Anhui and Jiangsu Provinces of the People ís Republic of China.

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.

Special “rest centres” were set up in the worst-hit villages, allowing families to take shelter overnight as the floodwater surged through the rural West Country.

London Mining

London Mining is an expanding producer of high specification iron ore for the global  steel  industry and  is  focused  on  identifying,  developing  and  operating  sustainable  mines. London Mining commenced sales  from the Marampa mine in Sierra Leone in 2012 and expects to reach production capacity of 5Mtpa in 2013. A  prefeasibility study was completed  in  2011  which  shows that  Marampa  has resources to support a staged expansion to over 16Mtpa. London Mining has also completed bankable feasibility studies outlining plans for a further 20Mtpa of iron ore production  by developing two other mines in Greenland and Saudi Arabia. In addition  London  Mining  is producing  from a  coke  operation  with  coking  coal resource  potential  in  Colombia. The  Company  listed  on London  AIM  on  6 November 2009.

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.

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.