UK-based London Mining, a global diversified miner targeting the steel sector, has announced its operational results for the first quarter of 2013, reporting a total sales volume of 589,000 wet mt of iron ore concentrate, compared to 244,000 wet mt in the first quarter of 2012. The company's iron ore concentrate output in the given quarter amounted to 706,000 wet mt, rising from 315,000 mt in the first quarter of the previous year.
According to London Mining, commissioning of the second plant at its Marampa mine in Sierra Leone has been completed and an annual capacity of 3.6 million dry mt per year achieved for the combined processing operation. The company is advancing the next stage of the expansion program to achieve a run rate of 5 million mt per year by the end of the second half of the current year. London Mining also stated that it is reviewing high return opportunities for the further development of Marampa.
London Mining maintains its production guidance of 3.3 to 3.6 million dry mt and sales guidance of 3.6 to 3.8 million dry mt for 2013.
