London Mining will spend USD 300 million over 4 years to develop its Marampa iron ore project in Sierra Leone and expects first tailings output within 12 months. As per report, the Marampa iron ore deposit is among Africa’s biggest, but had been left largely unexploited for decades in a country still healing from a 1991 to 2002 civil war. London Mining received Sierra Leone’s parliamentary approval for the project, located about 75km east of the capital Freetown, in February and pledged an initial investment of USD 80 million during 2010 to start development of 1.5 million tonnes per year tailings starter operation. The company said that primary ore development of 5 million tonnes to 8 million tonnes per year is expected by the end of 2013.
