UK-based London
Mining, a global diversified miner targeting the steel sector, has announced its financial results for the first half of 2013.
London
Mining registered a net loss of $5 million in the first half, compared to a net loss of $18.6 million in the corresponding period of the previous year. The company's revenues amounted to $142.1 million, increasing by almost 2.5 times year on year, on total sales of 1,483,000 dry mt of
iron ore concentrate.
London
Mining stated that it commissioned and ramped up its second processing plant, achieving production of 1.5 million mt for the given period. Installed capacity is now 3.6 million mt and is on track for 5 million mt per year capacity by the end of the year.