London, Norway, May 8, 2008 - (ABN Newswire) - Please find enclosed a presentation held today by the CEO of London Mining, Mr. Christopher Brown, of the company's Isua Project in Greenland. For further information, please contact: London Mining Plc Christopher Brown, Managing Director, +44 (0) 20 7495 6210 Notes to the Editors: London Mining is incorporated and registered in the UK, and is developing mines to supply the global steel industry. The Company has operational mining, exploration and development projects located in Brazil, Sierra Leone, Saudi Arabia, Greenland and Mexico, and has total iron ore resources of 1.9 billion tonnes containing an estimated 714Mt of iron. In 2007, London Mining raised over US$185m to advance iron ore production from its projects: Brazil 100% owned mine with 598mt Fe resource at 41.5% Fe. London Mining is ramping up production to a target of 10mtpa beginning with increasing current granulado sales of approximately 500ktpa and commencing 3.2mtpa of sinter feed production. The sinter feed plant is planned to begin production in June 2008 and has been implemented on schedule and under budget. Saudi Arabia 50:50 joint venture with National Mining Company to develop the Wadi Sawawin iron ore project in Saudi Arabia. Scoping and previous studies have indicated the feasibility of a 5mtpa direct reduction pellet production operation on the current mining licence. A drilling campaign is currently underway to define and expand the 411mt reserves (USB code). The Wadi Sawawin project will benefit from a new port, will be in close proximity to one of the new government-funded "Economic Cities"(in the Tabuk region), and expects to benefit from economical transport infrastructure, power and water. The Company is initiating a bankable feasibility study and further engineering and metallurgical studies. Studies are also being conducted to examine the possibility of using the proposed Wadi Sawawin pelletising plant in the future to process the pellet feed from both the Isua project in Greenland and the Wadi Sawawin Project with a targeted production of 20mtpa of DR pellets. Greenland 100% owned project with 961mt Fe resource @ 34% Fe (JORC). Scoping, metallurgical, hydropower, pipeline and harbour studies have all been completed and have confirmed that the Isua project will support a sizeable open pit mining operation starting at approximately 5mtpa of +71% Fe magnetite direct reduction pellet feed, with good logistics via a slurry pipeline and deepwater port with year round shipping. Synergies with the Wadi Sawawin project are being studied. Sierra Leone 100% owned previously producing mine with 132Mt estimated resources @ 34% Fe (IMC based on historical records). Final governmental approvals are being sought to commence refurbishment of existing rail and port infrastructure prior to installing a new 1.5mtpa concentration plant to produce +64% Fe iron ore concentrates. Medium term initiatives include an additional 1.5mtpa concentration plant after the first year of production and, subject to logistics feasibility investigations, restart open pit mining to increase total production to 5Mtpa. Mexico Exploration project 48% owned by London Mining. The drilling programme has been completed on the Mexican El Artillero iron ore deposit, and the company is currently evaluating a mining plan to develop a 1mtpa operation which is expected to commence production in Q1 2009. On 9 October 2007, London Mining listed on the Axess market of the Oslo Stock Exchange and is now trading under the Reuters symbol LOND.OL and Bloomberg symbol LOND:NO. Please also visit our website www.londonmining.co.uk for more information about London Mining and its operations.
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