CFE 50.0% 0.1¢ cape lambert resources limited

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    http://www.miningweekly.com/article.php?a_id=148148


    London Mining withdraws Marampa injunction application – African Minerals

    By: Esmarie Swanepoel
    Published on 21st November 2008

    JOHANNESBURG (miningweekly.com) – Aim-listed mineral exploration company African Minerals on Friday announced that iron-ore miner London Mining had withdrawn its application for an interim injunction against the company, in the Marampa exploration license dispute.

    “The company has always maintained the validity of its license at Marampa, as confirmed by the government of Sierra Leone on a number of occasions. We now look forward to continuing our work on the project, and to the successful development of an important iron-ore resource,” said African Minerals executive chairperson, Frank Timis.

    African Minerals would now continue with its exploration activities on the project, alongside exploration company Cape Lambert Iron Ore, targeting the completion of a definitive feasibility study, next year.

    London Mining claimed that it had a 25-year mining lease on the project area, and sought a declaration from the government of Sierra Leone stating that the lease was valid, and an injunction preventing African Minerals from entering its lease area.

    However, African Minerals had insisted that certain areas within London Mining’s lease area fell within its exploration license.

    The disputed area covered about 30% of London Mining’s mining lease, and included areas where the company had been carrying out mining operations over the past year. London Mining noted that while the exclusion of the area would reduce the potential total mineable tonnage, it would not affect the planned production rate or the timing of the start-up of its operations at Marampa.
 
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