FAQS

FAQS

What is your company strategy?
We are focused on delivering high margin (through low cost/high quality) production quickly, within a disciplined framework, to meet the immediate  needs of the global steel industry and become a long term supplier of choice for our customers through quality and consistency of product and reliability of supply.

At London Mining we have a clear strategy to grow value for all stakeholders – from delivering good financial returns to improving the lives of our communities, from keeping our employees safe and healthy to responsibly contributing to the countries in which we operate. Our disciplined approach to developing our assets has enabled us to plan for the expansion and further development of our assets. We are excited about our future and look forward to continuing to execute our strategy and grow the business for the long term within a disciplined framework.

What is your main objective?
London Mining’s objective is on identifying, developing and operating mines to become a significant producer of high quality iron ore to the global steel industry.

When was the company incorporated?
April 2005.

How many people do you employ?
In 2010 the average monthly number of employees for continuing operations (including Directors) was:

What are your reserves and resources for each project?
Please refer to the reserves and resources section of our most recent presentation.

What is your acquisition strategy?
London Mining may from time to time look at acquisitions where we can bring our proven technical capability to bear on assets which are scaleable, have deliverable logistics and potential for rapid development.

We have a track record of identifying and acquiring assets that have the potential to be rapidly developed using our experience and technical capability and which provide significant value creation potential by bringing on near term production. We are adept at optimising our assets to reach their economic potential.

What are your development plans for 2012?

We expect to deliver 1.5Mt of iron ore production from Marampa in 2012 and through construction of our second plant grow to 4.2Mt in 2013 and to 5Mt in 2014.

We expect that the BFS for the Marampa expansion to 9Mtpa will be completed in Q3 2012. This will provide us with the opportunity to invest further in the project using cash flow from operations to expand production and generate exceptional financial returns.

We have commenced production from our coke ovens in Colombia from local coking coal supply and will ramp up to200ktpa by the end of 2012. We are looking to secure coking coal feedstock though our exploration activities to develop integrated production and opportunities for export.

How is the environment for mining in all of the jurisdicitions in which you operate?
London Mining focuses on jurisdictions where there is a strong national interest in mining and where there is a workable mining code.

Who are your shareholders?
We have a free float of around 90%. Our shareholders are a mix of management & employees, institutions (comprising a mix of long only and hedge funds) and an active retail investor base.

Where are the company's shares traded?
Our shares are traded on the AIM in London and the Oslo Axess.

What is your dividend policy?
London Mining is in the important growth stage of its business and does not expect to pay a dividend until it has established production and is generating excess cash. However the company has a track record of making exceptional returns and paid a special dividend after the disposal of its Brazilian business to Mittel in 2008.

How can I receive shareholder documents?
Electronic copies of all our documents are available on our website www.londonmining.co.uk, for paper copies please contact our investor relations team.