$40M Iron Ore Mine Expansion in Sierra Leone

London Mining (LSE:LOND) is spending $40 million to raise output to 6 million tonnes a year in Sierra Leone, Bloomberg reported.

As quoted in the market news:

The company, which produced 1.5 million tons of the steel-making ingredient in the first six months of the year, will spend $40 million in 2014 to expand output, it said in a statement today. London Mining will spend another $240 million in 2015 and 2016 to extend the life of its Marampa mine.

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