Iron ore project will remain suspended until the company either releases $102 million in restricted cash or can secure other short term funding.
London Mining Mining News
Report shows there are 39 assets in production within the Ebola-affected region.
Frank Timis has got $20 million to acquire the mine bordering its own iron ore project Tonkolili.
And the rapid fall in the iron ore price, the Sierra Leone miner's dispute with Glencore and the slow rampup. But especially Ebola.
JSW Steel has almost clinched a deal that would see India's third-largest steel company acquire embattled London Mining (LON:LOND), sources close to the negotiations revealed on Friday.
The iron ore miner warned Wednesday that its shares now had "little or no value."
Deutsche Bank warned Friday that gold producers are the most vulnerable to a further spread of the deadly disease.
The iron ore producer warned it did not have sufficient cash to operate Marampa, its only mine.
Company lowers production guidance at Marampa mine in Sierra Leone as outbreak impacts supply chain and ramp up.
Tighter border controls are set to disrupt the flow of essential supplies and even workers trying to get to work at the African country's mining operations, companies say.
After the WHO declared the current outbreak an “international public health emergency.”
London Mining tells eight staff at Marampa mine to go home and imposes travel restrictions after deadly fever spreads from neighbouring Guinea and Liberia.
"New projects in iron ore currently do face funding challenges."