Operation starts at largest iron ore deposit

  1. Posted on Friday 12 March 2010 - 10:10
    Murtala
    Image of Murtala
    Murtala Mohammed Kamara, AfricaNews repoter in Freetown, Sierra Leone
    Operation has officially started at Africa's largest Iron ore deposit after it was shut down some 35 years ago due to difficulties in the price of ore. The Marampa mines which has the largest iron ore deposit in Africa and the third largest in the world is mined among others by the London Mining Company which has its parent body in the UK.
    mining iron
    “We are heading for a turnaround in the economy. The significance of this project is immeasurable to the economy. It will create tremendous impact in the economy, employment and will directly raised $4.1 million dollars against 2010 in direct revenues” Mines minister Alpha Khan told the United Nations radio earlier.

    Khan said further that the project will provide jobs to over one thousand youths whiles 98% of the entire staff will be Sierra Leoneans. “We are going to use the Mines and Mineral Act, which is our bible to monitor them” he said. Khan revealed that by 2011, his country would have benefitted $1.5 million dollars per annum on taxes alone.

    Graeme Hossie, London Mining Co. Chief Executive Officer told a news conference earlier in Freetown that “Our key skills are in bringing iron mines into production and expanding them to optimize their potential. We will do this effectively, safely, properly and quickly, to the highest standard with environmental and social responsibility very much to the fore”.

    Hossie said his company has invested over $80 million with the primary aim of building the mine and related buildings, plant, roads and infrastructure, with the effort to understand the nature of the ore body to plan the optimal long term operation.

Latest News

  1. AFCON: 46 hurt in Zambia victory celebrations09/02Over 40 casualty cases were recorded Wednesday night at Zambia's University Teaching Hospital (UTH) after post-match celebrations turned violent …
  2. African Peer Review Mechanism making progress08/02In 2003 the New Partnership for Africa's Development (NEPAD), the continental development plan, initiated the African Peer Review Mechanism (APRM…
  3. Combating HIV infections among African women08/02With a lack of knowledge and power, African women continue to bear the brunt of HIV infections.
  4. Legume cultivation booms in Western Kenya07/02Small Holder Farmers (SHFs) who traditionally relied on seed companies for all their seeds are now bulking their own legume seeds for their farms.
  5. Malawi vendors chase out Chinese07/02Vendors in Kalonga, the Northern district of Malawi, on Wednesday petitioned the District Commissioner to flash out all Chinese nationals who are doin…
  6. Zim: Informal sector urged to join HIV battle05/02While the Harare City council is busy engaging in running battles with city vendors, Health Minister has called for authorities to devise ways to form…
  7. Elections: Wole Soyinka warns Mugabe, Wade03/02The Nigerian Nobel Prize winner for literature said heads of states who are trying to cling to power suffer the same fate as the dictators who were sw…
  8. AU elections rescheduled for June in Malawi01/02Following a deadlock during Monday's African Union elections, with a tie between former wife to South African president Jacob Zuma, Home Affairs …
  9. Senegal in turmoil as protest intensifies01/02Hundreds of anti-government protesters Tuesday gathered in the central Dakar, Senegal to show their dissatisfaction over the incumbent president Abdou…
  10. Zimbabwe’s inflation still favourable -…01/02Zimbabwe's annual headline inflation still compared favourably with economies in the region, Reserve Bank of Zimbabwe Governor Gideon Gono said o…
  11. AFCON 2012: Sudan qualifies after four decades31/01The Sudanese national team has sealed a historic win over the Stallions of Burkina Faso.
  12. Senegalese opposition to intensify protests31/01Opposition and civil society groups in Senegal have vowed to increase their fight against incumbent President Abdoulaye Wade's presidential bid.
  13. Malawi: Rights coalition condemn stripping of…30/01The 39 members of the Solidarity for African Women's Rights Coalition based in 18 African countries have vehemently condemned the stripping of wo…
  14. Kenya to deworm five million children annually30/01Kenya launched the second phase of its national deworming programme at the World Economic Forum Annual Meeting 2012, aiming to treat 5 million childre…
  15. Benin’s Yayi Boni is AU’s new…30/01President Yayi Boni of Benin Republic has been elected chairperson of the African Union in the Ethiopian capital Addis Ababa
News archive