Sierra Leone News: As study shows 40yr lifespan… London Mining set to expand Marampa

A recent feasibility study has confirmed a probable JORC reserve of 539 million tonnes (Mt) at 31.1% iron, at the Marampa iron mines operated by London Mining.
This confirmed that with a major upgrade of US$240million the company would cut costs and extend the life of the mine to 40 years, at an average operating cost between US$42 and US$45 per tonne.
The study also indicated that for a relative modest outlay of US$40mln to optimise its current plant, production could rise to 6mln tonnes per year as soon as 2014.
The Chief Operating Officer Jim North, acknowledged that stating that,”The life of mine study shows that the Marampa operation can be extended through a simple upgrade of the processing plant based on proof of concept of the existing flow sheet and logistics.The investment in a plant that can process all ore types has enabled us to reduce the life of mine strip ratio by half.”
Graham Hossie, London Mining’s managing director (MD), said “What this does is bring our operating costs down so we can be profitable even in the pessimistic pricing scenarios,”
Friday October 04, 2013