London Mining to spend $40 million for Marampa capacity increase

UK-based London Mining, a global diversified miner targeting the steel sector, has announced that it will spend $40 million in 2014 to increase the annual iron ore output capacity at its Marampa iron ore mine in Sierra Leone to 6 million mt.
 
London Mining also stated that it will spend $240 million in 2015 and 2016 to extend the life of the Marampa mine.
 
In August, the company commissioned and ramped up its second processing plant at the mine, achieving production of 1.5 million mt in the first half of the current year. Installed capacity stands at 3.6 million mt.