London Mining today announces that China Global Mining Resources (BVI) Limited (“CGMR”) , its 50/50 joint venture company with Wits Basin Precious Minerals Inc (“Wits Basin”), has completed the acquisition of two companies, Maanshan Xiaonanshan Mining Co., Ltd (“XNS”) and Nanjing Sudan Mining Co., Ltd (“Sudan”), which own an iron ore mine and concentrator plant located in the Anhui and Jiangsu Provinces of the Peoples Republic of China. CGMR has now taken operational control of the assets and plans immediately to commence an extensive programme to delineate further resources improve productivity and reduce costs.
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.
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.
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.
London Mining 