Friday 21 September 2012

London Mining in Greenland: Isua iron ore deposit (100% owned)


Introduction

The Isuasua deposit was acquired by the Company in October 2005. The deposit was discovered in 1962 and work was carried out by Marcona Corporation in the 1970s and by Rio Tinto (RTZ) in the late 1990s. Until now, the project has not been developed due to historic low iron ore prices.

Isua is located in Greenland on the western edge of the inland ice cap. The deposit sits at an altitude of between 800m and 1150m above sea level, some 155km south of the Arctic circle and 150km northeast of the capital city of Nuuk. The deposit is located some 65km inland from the nearest fjord.

As the deposit is located on the “warm” western side of Greenland, it benefits from the possibility of year round operations and shipping to world markets. Very limited local infrastructure exists, but there is ample access to lakes to provide water for processing and hydropower. The Company is investigating the possibility of pipeline transportation of ore slurry to the proposed port site in deepwater fjords approximately 100km away. The Company is also investigating other transportation solutions as part of a pre-feasibility study.

London Mining  PLC (LOND.L)

London Mining Plc is developing mines to supply the global steel industry. The Company has iron ore exploration and development projects located in Sierra Leone, Saudi Arabia, Greenland, China and Chile, and a coking coal project in Colombia more...

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