UK-based London Mining, a global diversified miner targeting the steel sector, has announced its operational results for the second quarter of the current year. In the second quarter, London Mining produced 1.16 million wet mt of iron ore concentrate, up 21 percent compared to the same quarter of the previous year. The miner's iron ore concentrate sales in the given quarter amounted to 830,000 wet mt, falling 18.1 percent year on year.
"We completed the ramp-up of the processing plant upgrades in Q2, achieving an annualized run rate of 5.4 million wet mt per year in June. We are now focused on increasing production rates by 10 to 20 percent above current nominal capacity through debottlenecking and plant optimization," said London Mining CEO Graeme Hossie.
London Mining has also reiterated its production guidance of 4.9 to 5.4 million wet mt for 2014.