Wednesday, May 23, 2012

London Mining Ships Iron Ore From Sierra Leone to Europe, China

Sierra Leone's mining boom shows no signs of slowing.

London Mining today announced that it is on track to hit its full year target of 1.5 million tonnes of iron ore concentrate output at the Marampa mine in Sierra Leone. The UK-listed company said it produced 300,000 dry metric tonnes of iron ore in the first quarter of 2012 and shipped over 230,000 dry tonnes to Europe and China, thanks to a mine-to-ship logistics plan that worked as designed.

Sir Nicholas Bonsor, deputy chairman of London Mining, told shareholders at the company's AGM that the ore was shipped in five Supermax vessels, four of which went to China and one to Europe.

The Marampa project began producing iron ore--the raw ingredient for steelmaking--in December. The
ore output is forecast to rise to 3.5 million tons in 2013 and 4.6 million tons in 2014.

A Supermax bulk carrier has a size from 50,000 to 60,000 DWT (deadweight tonnage) and can be as long as 200 meters, or 656 feet.