Company Information for London Mining Plc

www.londonmining.co.uk

Company Statement

London Mining is an expanding iron ore miner and developer of mines globally for the steel industry. The Company has operational mining, exploration and development projects located in Brazil, Sierra Leone, Greenland and Mexico. In 2007, London Mining raised over US$125million in equity and US$60million in debt to finance development of its operations to meet the demand of world steel consumption.

Core strategic objectives:

Ramping up production to over 5mtpa from its operating itabirite iron ore mine in Brazil
Bringing into production a previously mined specular hematite iron ore operation in Sierra Leone
Completing feasibility studies on a major magnetite iron ore deposit in Greenland
Progressing scoping study to create 3mtpa mining/pelletizing operation at Saudi JV
Continuing exploration under a 49% JV of an exploration magnetite deposit in Mexico

Continuing exploration under a 49% JV of an exploration magnetite deposit in Mexico

Current Operations

Saudi Arabia (50%) JV Partnership
London Mining Plc has formed a joint venture company, Saudi London Iron Ltd ('SLI'), with Saudi-based National Mining Company ('National Mining'), owned 50% each, to develop the Wadi Sawawin iron ore project near the west coast of Saudi Arabia. Saudi London Iron plans to create a 3 million tonne per annum iron ore mining and pelletizing operation to produce high grade pellets. A Scoping Study on the 3mtpa operation is currently underway and will study capital and operating cost estimates. It is on target for completion by the third quarter of 2008.

Brazil
London Mining purchased the Minas Itatiaiucu Ltda. mine in May 2007 and has since increased domestic sales volumes by 34% yoy. The Company’s strategy is to have a 3.2mtpa sinter feed concentration plant in operation by the end of 2008 followed by a planned 1.5mtpa pellet feed concentration plant to come on stream in 2010. Long-term off take agreements are already in place with customers in China for both current and future production.The mine is located about 60km southwest of Belo Horizonte, along a prominent ridge called the Serra Azul (Blue Mountain Range), that in turn makes up part of the Quadrilátero Ferrífero (Iron Quadrangle), a prolific iron ore producing district within Brazil. The mine has been mining and selling iron ore for the domestic pig iron industry since the mid 1970s and has unprocessed stockpiles of sinter feed fines and pellet feed tailings from over 30 years of production.

Sierra Leone
London Mining intends to commence beneficiation operations at the Marampa mine in 2009 to produce sinter feed concentrate for export from between 45Mt and 50Mt of iron ore tailings left from previous mining. In addition the Company plans re-to re-commence open pit mining operations on approximately 100Mt of resources remaining in the area. Considerable infrastructure still exists, including a 3,000t/hr ship loader at Pepel and a disused rail line between Marampa and Pepel, as well as a sealed highway from Marampa to Freetown. The Marampa mine in Sierra Leone commenced mining lump ore for the European markets in 1933 by the Sierra Leone Development Company, and was mining over 2.5Mtpa in the 1970's, but closed down in 1975 due to low world prices for iron ore.

Greenland
The Isua deposit in Greenland contains JORC resources of just under one billion tonnes of magnetite iron averaging 34% Fe that can be upgraded through simple crushing, milling, magnetic separation and flotation to produce a concentrate with over 71% Fe with very low impurities. London Mining intends to conduct a feasibility study on an 11Mtpa open pit mining operation producing 5Mtpa of concentrate.

Mexico (49%) JV Partnership
The El Artillero magnetite exploration deposit is 60km by road east of Manzanillo on the pacific coast of Mexico in Colima State. Magnetite grab samples assayed averaged of 63.9% Fe. The deposit will be drilled and a mine feasibility study conducted.

Geographical Spread

Brazil
Greenland
Sierra Leone
Mexico

Board of Directors and Key Management

Dr Colin Knight	Non Executive Chairman
Christopher Brown	Managing Director
Graeme Hossie	Corporate Development & Deputy Managing Director
Malcolm Groat	Finance Director and Company Secretary
Dr Hans Kristian Schønwandt	Non Executive Director
Sir Nicholas Bonsor	Non Executive Director
Luciano Ramos	London Mining Brazil

Company Address

47 Charles Street
London, United Kingdom W1J 5EL


Telephone:	+44 (0) 20 7495 6210
Facsimile:	+44 (0) 20 7495 6211
Email:	info[at]londonmining.co.uk
Website:	http://www.londonmining.co.uk

Additional Address/Key Contact

Press Enquiries:

UK
Threadneedle Communications
Phone: +44 (0)20 7936 9696
Email: Laurence.read@threadneedlepr.co.uk

Norway
Crux Kommunikasjon:
Phone: +47 40 00 28 55

Year End

31 December

Nominated Brokers

Kaupthing (Oslo)

Nominated Advisors