London Mining (LON:LOND) produced record amounts of iron ore from its Marampa mine in Sierra Leone in the past three months as its ramp-up gathered momentum.
Output totalled 706,000 wet metric tonnes (wmt) in the three months to March, a 29% increase on the previous three months while sales rose 52% to 589,000 wmt.
Average daily production rose by 32% and London Mining said it remains on course to produce 3.3-3.6mln dry metric tonnes (dmt) of iron ore over the whole of 2013 and sell 3.6 to 3.8mln dmt.
Graham Hossie, London Mining’s chief executive, said the miner had made an excellent start to the year with sales and production both at record levels.
“We are well advanced with the next stage of expansion to achieve a run rate of 5Mtpa [million tonnes per annum] by the end of the second half of this year and are reviewing high return opportunities for the further development of Marampa, “ he added