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London Mining Plc (OSL:LOND) During the second quarter of 2008, London Mining has continued to make progress towards its goal of maximizing shareholder value by conducting a strategic review of its Brazilian operations. The resulting sale of Brazilian assets, announced on 20 August 2008 to ArcelorMittal for US dollars 809.9 million, marks the conclusion of the Brazilian strategic review. London Mining intends to return US dollars 427 million of the proceeds to shareholders.
Please find the Company`s full Financial report and presentation enclosed (click on the links below to download).
For further information, please contact: London Mining Plc Christopher Brown, Managing Director +44 (0)20 7201 5000 Graeme Hossie, Corporate Development & Deputy +44 (0)20 7201 5000 Managing Director
Crux Kommunikasjon AS Charlotte Knudsen +47 97 56 19 59
Notes to the Editors: London Mining is incorporated and registered in the UK, and is developing mines to supply the global steel industry. In 2007, London Mining raised over US$185m to advance iron ore production from its projects, and listed on the Oslo Axess, a marketplace regulated by the Oslo Stock Exchange on 9 October 2007. Following the sale of its Brazilian operations in August 2008 for over US$800m, the Company has mining, exploration and development projects located in Sierra Leone, Saudi Arabia, Greenland, Mexico and South Africa, and total iron ore resources of 1.3 billion tonnes containing an estimated 459Mt of iron.London Mining is trading under the Reuters symbol LOND.OL and Bloomberg symbol LOND:NO.
Please also visit our website www.londonmining.co.uk for more information about London Mining and its operations.
