 London Mining Company granted mining lease to take over the defunct Marampa
mines in Sierra Leone has also formed a new joint venture company called the
Saudi London Iron Ltd (SLI) in January 2008 with a Saudi-based National Mining
Company, each owning 50% shares.
The Acting Managing Director of London Mining in Sierra Leone, Mike McCorkil
said in Freetown that the Saudi London Iron Ltd seeks to develop the Wadi
Sawawin Iron Ore Project near the coast of Saudi Arabia. "Having gained mining
lease to undertake iron ore mining in areas covering Pepel, Marampa and Lunsar
in Sierra Leone," he continued, "London Mining wishes to start operation as
quickly as possible not just to do business but also to undertake more
development projects as the company is presently financing the construction of
the Pepel bridge and the road work in the Lunsar township." Mike stressed that
London Mining is worth over half a billion US dollars on the Axess market of the
Oslo Stock Exchange and trading under the Reuters symbol LOND.OL and Bloomberg
LOND.NO.
Mr. McCorkil also said that a three man delegation of London Mining directors
will arrive in Sierra Leone on Monday 4th February 2008 and would visit Pepel
and Lunsar before meeting the President and ministers of government. Among the
delegation is respected businessman, lawyer and politician, Sir Nicholas Bonsor
specialized in commercial law and one time member of the British parliament.
In another interview with the community people of Pepel on their impression
about London Mining taking over the Marampa defunct sites and the would-be
visiting delegation, Councillor Foday Kabia of Ward 6, Lokomasama Chiefdom, Port
Loko District said that they want London Mining to start operations now as he
and the community are interested in jobs for both the young and old, and
community development. He repeatedly stated that since his youthful days while
working in the Sierra Leone Development Company Limited (DELCO), it is only
London Mining that fulfilled the people's desire for a bridge to link Pepel
Island with the rest of the district by road.
Councillor Kabia also said that the people are impressed with the road work
the company is undertaking in Lunsar Town. "The fact that the company is tarring
six major streets in Lunsar and almost finishing the Pepel Bridge costing over
US$100,000 even before the start of the mining operation is something unheard of
most mining companies [if not all] in the Country," he concluded.
Other community members, especially youths said that Government should do
everything possible to use this opportunity to provide them jobs as London
Mining so far could be trusted based on the development projects the company is
funding presently in the Port Loko District.
The youth leader of Pepel Town, Usif Kapr Kamara said in another interview
that some of his colleagues working in the security division of the company on
the Island are happy with the take home salary package. He also said that they
are tired of delays, sometimes due to lengthy and unending negotiations
derailing the start of mining operations.
He stressed that youths both skilled and unskilled are eagerly waiting on
London Mining for employment.
Sierra
Leone: Mining Lease Granted to Saudi Company | Africa Related
|
