UK-based London Mining, a global diversified miner targeting the steel sector, has announced its operational results for the third quarter of 2012, reporting a total sales volume of 298,000 wet mt of iron ore concentrate, down 14.9 percent quarter on quarter. The decrease was attributed to the deferment of one shipment to build inventory ahead of the commissioning of a floating offshore transshipment vessel.
In the given quarter, iron ore concentrate production at London Mining's Marampa mine in Sierra Leone decreased by six percent to 373,000 wet mt compared to the previous quarter.
London Mining produced 12,937 mt of coke in the third quarter, increasing by 2.54 percent compared to the previous quarter.
According to London Mining, construction of the second plant in Marampa continues in line with budget and planned timing of being in operation in the first quarter of next year. The company maintains its production target at 1.5 million mt of iron ore in 2012 based on performance improvements taking effect in the fourth quarter.