UK-based London Mining has announced that its Brazilian subsidiary, London Mining Brasil Mineracao S.A. (LMB), has entered into a short-term contract with Vale (Companhia Vale Do Rio Doce) for the sale of up to 1.1 million mt of sinter fines.
LMB expects to have fulfilled its obligations under this contract by the end of January 2009. The detailed terms of the agreement are confidential.
London Mining stated that the strategic review of its Brazilian iron ore operations is continuing as planned, with the review process expected to be completed in Q3 2008.
London Mining has operational mining, exploration and many development projects located in Brazil, Sierra Leone, Saudi Arabia, Greenland and Mexico, and has total iron ore resources of 2.36 billion mt.