London Mining eyes 20m tonnes ore from Saudi
London, September 11, 2008
Iron ore miner London Mining, is targeting annual production of nearly 20 million metric tonnes of iron ore from its joint venture in Saudi Arabia, a report said.
The company said that its JV firm Saudi London Iron, has received approval from the Saudi Arabian General Investment Authority, according to the Bloomberg report.
A feasibility study is being carried out for the first phase which targets an annual output of five million tonnes, said the company.
London Mining also revealed that Saudi Advanced Production for Iron and Steel has agreed to buy all the output from the plant.
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