Isua iron ore project

London Mining has secured a 30-year exploitation licence for its Isua iron ore project in Greenland, Denmark.

Located 150km north-east of Nuuk in Greenland, the mine is expected to produce 15 million tones of iron pellet feed concentrate per year.

The company said the ore concentrate could be shipped year round from a dedicated deep water port.

London Mining has completed detailed environmental and social impact assessments, which have been subject to public consultation as part of the permitting process.

As part of the licence, London Mining has agreed to incorporate a royalty structure with the Government of Greenland, based on sales and tax rates for more than 16 years.

London Mining chief executive officer Graeme Hossie said the licence was received after many years of exploration and development work.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Isua is an important project for Greenland and its development will help deliver key objectives for Greenland of economic growth and diversification from sustainable mining activity,” Hossie said.

“Although new projects in iron ore currently do face funding challenges, we believe Isua’s high-quality product segment will become increasingly important to steelmakers to balance the growth in lower quality iron ore supply and the increasing importance of pellets in the evolving iron ore market.”

London Mining started sales from its Marampa Mine in Sierra Leone in 2012 and anticipates reaching production capacity of 6Mdmt/a in 2014.


Image: The Isua mine is expected to produce 15 million tones of iron pellet feed concentrate per year. Photo: Courtesy of London Mining.

Energy group link