Sierra Leone: London Mining lifts iron output

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London Mining had raised quarterly production at its iron ore mine in Sierra Leone after upgrading a processing plant, the AIM-listed company said yesterday, adding that it expected to find a strategic partner by year-end. Iron ore output at the Marampa mine rose 21 percent in the quarter to June and the firm stood by its full-year production target of 4.9 million to 5.4 million wet tons of iron ore concentrate. However, its shares fell as much as 3.5 percent after rising 6 percent in early trading. “Despite a good operational showing, the performance of the stock is likely to continue to be dictated by movements in the iron ore price,” Citigroup said. – Reuters

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