London Mining Bribery Act

Bribery Act 2010

London Mining is fully compliant with the UK Parliament’s Bribery Act 2010. All London Mining staff and contractors are contractually bound to comply with London Mining’s ‘Anti-fraud, Bribery and Corruption Policy’, in which the Act is referenced. All workers are required to contribute towards maintaining the a culture of honesty and ethical behaviour within the company, and all staff members are required to undergo training on the Bribery Act and how to detect, manage and report potential breaches of it.

Offences relating to being bribed

(1)A person (“R”) is guilty of an offence if any of the following cases applies.
(2)Case 3 is where R requests, agrees to receive or accepts a financial or other advantage intending that, in consequence, a relevant function or activity should be performed improperly (whether by R or another person).
(3)Case 4 is where—
(a)R requests, agrees to receive or accepts a financial or other advantage, and
(b)the request, agreement or acceptance itself constitutes the improper performance by R of a relevant function or activity.
(4)Case 5 is where R requests, agrees to receive or accepts a financial or other advantage as a reward for the improper performance (whether by R or another person) of a relevant function or activity.


Bribery of foreign public officials


(1)A person (“P”) who bribes a foreign public official (“F”) is guilty of an offence if P's intention is to influence F in F's capacity as a foreign public official.
(2)P must also intend to obtain or retain—
(a)business, or
(b)an advantage in the conduct of business.
(3)P bribes F if, and only if—
(a)directly or through a third party, P offers, promises or gives any financial or other advantage—
(i)to F, or
(ii)to another person at F's request or with F's assent or acquiescence, and
(b)F is neither permitted nor required by the written law applicable to F to be influenced in F's capacity as a foreign public official by the offer, promise or gift.
(4)References in this section to influencing F in F's capacity as a foreign public official mean influencing F in the performance of F's functions as such an official, which includes—
(a)any omission to exercise those functions, and
(b)any use of F's position as such an official, even if not within F's authority.

London Mining:Sierra Leone

Sierra Leone

The Marampa mine is located 125km by road north-east of Freetown and 40km by dedicated haul road from tidewater at the Thofeyim river terminal.

The Marampa deposit was first discovered in 1926 and open pit production was commenced by the Sierra Leone Development Company (“Delco”) and William Baird between 1933 and 1975. By the 1960’s iron ore production had reached 2 Mtpa before low iron ore prices forced the mines closure. Continuing weak market economics and the civil war prevented redevelopment of the mine until the mining licence was acquired by London Mining in 2006.

London Mining secured an option to acquire the mining rights at the Marampa mine in December 2005. After securing funding, London Mining was able to exercise the option in January 2006 and in September 2006 the Marampa mining lease was assigned to LMC, a 100% subsidiary of London Mining. The Marampa mine recommenced production in December 2011.

London Mining has total iron ore resources of 2.2 billion tonnes with targeted production of over 30Mtpa of high grade concentrates planned from its projects in Sierra Leone, Greenland and Saudi Arabia. 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

London Mining:Coal

Coal Division Overview

London Mining made its first coal acquisitions in August 2008 as part of an overall strategy to develop a complimentary metallurgical coal supply for its iron ore production and in doing so take advantage of the robust long-term outlook for coal. The Company owns 100% of London Mining Colombia, a coking coal developer in Colombia.

London Mining has total iron ore resources of 2.2 billion tonnes with targeted production of over 30Mtpa of high grade concentrates planned from its projects in Sierra Leone, Greenland and Saudi Arabia. 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.

London Mining

Sierra Leone

The Marampa mine is located 125km by road north-east of Freetown and 40km by dedicated haul road from tidewater at the Thofeyim river terminal.The Marampa deposit was first discovered in 1926 and open pit production was commenced by the Sierra Leone Development Company (“Delco”) and William Baird between 1933 and 1975. By the 1960’s iron ore production had reached 2 Mtpa before low iron ore prices forced the mines closure. Continuing weak market economics and the civil war prevented redevelopment of the mine until the mining licence was acquired by London Mining in 2006.

London Mining secured an option to acquire the mining rights at the Marmara mine in December 2005. After securing funding, London Mining was able to exercise the option in January 2006 and in September 2006 the Marampa mining lease was assigned to LMC, a 100% subsidiary of London Mining. The Marampa mine recommenced production in December 2011.

London Mining is developing Marampa in stages. The current operation will be expanded to a capacity of 5 Mtpa of high quality sinter concentrate in 2013 with the resource able to support a mine life of over 30 years at this rate.  A bankable feasibility study outlining an expansion to 9Mtpa was completed in Q4 2012.A PFS was completed in April 2011 for a further expansion to over 16Mtpa of concentrate from the remainder of the Marampa ore body over a 25 year mine life.