[miningmx.com] – LONDON Mining is in talks with investors to raise $400m for the expansion of its Marampa iron ore mine in Sierra Leone, said Bloomberg News citing the firm’s CEO, Graeme Hossie.
“We’ve had incoming interest and we have additional interest and we’re working through a process to bring on investment,” Hossie told Bloomberg News. “There’s good interest and we expect to complete the process before the end of the year.’
London Mining said it expected to produce 4.9 million tons to 5.4 million tons this year. It’s seeking funds to expand to a production rate of 8 million tons a year, said Bloomberg News.
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