London Mining to Spend US$80M in 2010
London Mining, a subsidiary of London Mining plc UK has budgeted a total sum of $80,000 this year to kick start its operations at the mines in Lunsar. The full scale of the Marampa Mines, which had been effectively closed for over decades will commence production.
This information was disclosed by the Chief Executive Officer (CEO) Greame Hossie of London Mining Plc UK at a press conference held yesterday at the Miatta Conference Hall, Youyi Building in Freetown.
Mr. Greame Hossie said the iron ore project is not new to the people of Sierra Leone, since it was discovered in 1926; adding that Marampa Mines and the people associated with it have always played a unique role in both Sierra Leone and British histories.
“Over 50 years ago, the company operated as a significant alliance between Sierra Leone and Britain. In addition, over three decades iron ore had been dormant in the country and it is only now that London Mining is reactivating it again. As a company, we are going to invest several million of dollars in that industry to create more economic growth for the people of this nationâ€, the London Mining plc DEO UK stated.
The Managing Director of the company in Sierra Leone, David Kelli, informed journalists that the company’s high-powered delegation is in the country to celebrate the achievements for the reopening of Marampa Mines with the President of this country, Ernest Bai Koroma. This move, he said is to thank him and his present government for giving them the go ahead to operate the iron ore mines in the Marampa Chiefdom. He has been in the Diaspora for the past 25 years; adding that he has returned home to contribute to the development of this country.Â
Kelli stated that the company was due to be closed because of problems along the road when he took up as Managing Director in 2008. However, the company has now employed over 250 workers and assured the people of this country that they are planning to employ a thousand more in future.
The Chief Financial Controller of London Mining Plc UK, Rachel Rhodes, said “My company has contributed a lot since they started operations in the country they have built schools, water wells and rehabilitated roads and hospitals.†She stated that during all these development strides they have not gained anything from the country, though she went on to call on the people of this to work hand in glove with her company for the development of this nation.
Chairman of the occasion, Umar Wurie said the day marked another record-breaking moment in London Mining and called on Sierra Leoneans to support this company for the development of our nation.
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