January 29, 2015 4:09 PM ET

Metals and Mining

Company Overview of London Mining Plc

Company Overview

London Mining Plc identifies, develops, and operates iron ore mines for the steel industry in the United Kingdom and internationally. It holds a 100% interest in the Isua project located in Greenland; and a free carried 25% interest in the Wadi Sawawin iron ore deposit located in Saudi Arabia. The company was founded in 2005 and is headquartered in London, the United Kingdom.

Nations House

103 Wigmore Street

London,  W1U 1QS

United Kingdom

Founded in 2005

1,597 Employees

Phone:

44 20 7408 7500

Fax:

44 20 7647 4440

Key Executives for London Mining Plc

Co-Founder
Age: 49
Total Annual Compensation: $1.3M
Chief Financial Officer
Age: 42
Total Annual Compensation: $743.0K
Compensation as of Fiscal Year 2013.

London Mining Plc Key Developments

Timis Mulls Acquisitions Of Iron Ore Mine In Sierra Leone From London Mining

Timis Corporation is looking to buy iron ore mine in Sierra Leone from London Mining Plc (AIM:LOND). Timis has finalised a $20 million funding agreement with Australia's Cape Lambert Resources Ltd to help him acquire the Marampa mine. A spokesman for Timis Mining confirmed that the company was interested in acquiring the Marampa mine, but he did not give any further details. A spokesman for London Mining declined immediate comment to Reuters.

JSW Steel In Advanced Stages Of Acquiring London Mining

JSW Steel Ltd. (BSE:500228) is close to acquiring London Mining Plc (AIM:LOND). "JSW Steel is very close to finalizing a deal to acquire London Mining which is battling big debts amid crashing iron-ore prices and the Ebola outbreak in Africa, where it operates a mine," a source privy to the information said. The announcement of acquisition may be made on October 21, 2014 along with the financial results, the source said without divulging details of the deal or financial considerations. Queries sent to the company about any possible acquisition of London Mining remained unanswered, reported Economic times.

JSW Steel Reportedly Eyes London Mining

JSW Steel Ltd. (BSE:500228) is in talks to acquire London Mining Plc (AIM:LOND), Reuters reported citing sources familiar with the matter. It is believed that talks (with London Mining) have been going on for many months. JSW people have visited them also. London Mining declined to comment. A JSW spokesman did not immediately reply to a request for comment.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 8, 2015
The Iron Ore Mine In Greenland
Merger/Acquisition
October 22, 2014
Marampa Iron Ore Mine in Sierra Leone
Buyback
May 15, 2014
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