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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (42039)	8/25/2009 4:08:25 PM
From: LoneClone	Read Replies (1) of 194034

London Mining, African Minerals settle Sierra Leone dispute miningweekly.com By: Esmarie Swanepoel 21st August 2009 JOHANNESBURG (miningweekly.com) – Africa-focused minerals development companies London Mining and African Minerals have settled their claims over the Marampa iron-ore property, in Sierra Leone, and have agreed on the boundaries of their respective areas. The companies had previously been involved in a legal battle around the validity of a mining lease granted to London Mining, of which African Minerals insisted that certain areas within the lease fell within its own exploration license. The disputed area covered about 30% of London Mining’s mining lease, and included areas where the company had been carrying out mining operations over the past year. London Mining noted that while the exclusion of the area would reduce the potential total mineable tonnage, it would not affect the planned production rate or the timing of the start-up of its operations at Marampa. Additionally, London Mining has also resolved its long-running dispute with the government of Sierra Leone, regarding the Marampa area. “The Government of Sierra Leone has fully endorsed the arrangements between African Minerals and London Mining, and is delighted that both companies are now n a position to move forward in the development of Marampa, which will have significant benefits both to the local area and to Sierra Leone as a whole,” the two companies said in a joint statement.

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