Iron Ore

Iron Division Overview

London Mining has total iron ore resources of 1.8 billion tonnes, with production capacity of around 0.4Mtpa from its operating mine and concentrator in the Anhui and Jiangsu Provinces of the Peoples Republic of China. The Company has additional investments in projects and mines in Saudi Arabia, Greenland, Sierra Leone and Chile. Our strategy is to provide a viable alternative to the diversified miners and upstream integration by selecting assets with unique competitive advantages and high margin potential in countries with a national interest in mining. For example:

• Marampa (Sierra Leone) has a short lead time to production and is located in a region of significant geological potential
• Wadi Sawawin (Saudi Arabia) benefits from a low energy costs. In independent report by CRU has indentified a supply gap for pellet feed of 10mpta in the Middle East and North Africa region by 2010.
• Isua (Greenland) will produce a high quality magnetite concentrate that can be blended with hematite ores from Wadi Sawawin
• Xiaonanshan/Sudan complex in China is situated in close proximity to steel mills enabling a transport related pricing premium