JOHANNESBURG (miningweekly.com) - Sierra Leone has granted London Mining final parliamentary approvals for its Marampa iron-ore mine, paving the way for the company to start with full development of the project.

The country has approved the project's fiscal incentives package, the proposed mine and logistics plan and environmental permitting for the licence area.

CEO Graeme Hossie announced that London Mining would immediately start with the development of a 1,5-million tons a year tailings starter operations, at a cost of $80-million.

Work is also continuing on an expanded operation through the development of the primary ore. The Marampa mine is expected to produce between five-million tons and eight-million tons a year by the end of 2013.

London Mining is the first company in Sierra Leone to have its mining agreement approved by Cabinet and ratified by the Parliament under the new Mines and Minerals Act, Hossie reported.

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