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London Mining (LSE:LOND) Payments on Behalf of Employees


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What is London Mining Payments on Behalf of Employees?

Payments on Behalf of Employees only applicable to companies reporting Cash Flow from Operations in direct method.


London Mining Business Description

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London Mining PLC is a producer of iron ore for the steel industry. The Company identifies, develops and operates sustainable mines. The Company develops iron ore mines in Sierra Leone, Greenland and Saudi Arabia. The Company's has interest in Marampa mine in Sierra Leone. The Marampa licence is located 120km from Freetown on the outskirts of the town of Lunsar. The licence comprises a mine, power plant and processing plant. The Company's interest in Isua in Greenland is located in 150km north-east of Nuuk and 110km from a proposed deep seawater port, Isua produce 70% Fe pellet feed concentrate with low impurities and benefits from its position in the warmer south-west corner of Greenland. A bankable feasibility study has been completed for a 15Mtpa operation based on a resource of over 1.1 billion tonnes. The Company's third mine Wadi Sawawin in Saudi Arabia provide a domestic source of Direct Reduction pellets for use in the DRI steel plants which account for 90% of steel production in the Middle East and North African region.