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Gold/Mining/Energy : Mining News of Note
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To: LoneClone who wrote (27050)10/8/2008 3:22:59 PM
From: LoneClone  Read Replies (1) of 193918
 
Youth leader pushes for London Mining iron ore MoU in Sierra Leone

steelguru.com

Local media reported that Mr Alpha Komboh Thulla, a youth leader of Pepel in the Marampa Chiefdom of Sierra Leone, claims that the government is unwilling to expedite action to enable a British consortium London Mining Company to begin mining iron ore in Sierra Leone.

Quoting a MoU signed between London Mining Company and government of Sierra Leone in August 2007, Mr Thulla said that Mr Alhaji Abubakarr Jalloh minister of mineral resources might scrap the MoU.

Mr Thulla said that London Mining Company was one of the first to invest in Sierra Leone, which investors were shying from, following a donors' conference in London organized by former British Prime Minister Mr Tony Blair to convince international concerns to invest in Sierra Leone.

He said that the MoU indicated that the government of Sierra Leone had given a licence to London Mining Company to mine iron ore in Marampa in northern Sierra Leone.

The MoU said London Mining Company had expressed the desire to rehabilitate the deteriorated railway and harbor facilities at the Pepel port and undertake and fund a feasibility study to determine weather the railway and ports facilities, with modification, can also serve other mining companies engaged in the mining of iron ore.

However, the new government in Sierra Leone said that it is reviewing its mining policy and this includes the deal with London Mining Company. There is also a tussle between London Mining Company and African Minerals for the mine, which is estimated at some USD 500 million.
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