TIDMLOND

RNS Number : 7659S

London Mining Plc

05 December 2012

London Mining Plc

Quoted on London AIM (LOND LN)

("London Mining" or the "Company")

5 December 2012

APPOINTMENT OF NON-EXECUTIVE CHAIRMAN

London Mining is pleased to announce that Michael Miles OBE has joined its Board as non-executive director and Chairman elect, with immediate effect. Michael will succeed Dr Colin Knight, who will step down from the role in early Q1 2013, after almost eight years as Chairman.

Michael brings extensive and varied global business and FTSE 100 board governance experience to the London Mining Board. He currently serves on the board for GEMs Ltd, a venture capital firm with interests in the China region. He was until recently chairman of Schroders, and previously chairman of Johnson Matthey plc. He has served on the boards of BP (including as chairman of its pension trustees), China Britain Trade Group, Hong Kong Association, Balfour Beatty and Portals. Through his former chairmanships and earlier career with the Swire Group and Cathay Pacific, Michael has extensive and unrivalled experience in the Far East / China, the most important market for iron ore and a key part of London Mining's long term customer and partnering strategy.

Michael's appointment will be subject to ratification by shareholders at the Company's next Annual General Meeting in May 2013.

Dr Colin Knight said:

"London Mining is a first class growing iron ore producer and during my tenure as Chairman, the company has made notable advances including developing substantial operations in Brazil and Sierra Leone from early stage development projects to significant cash-generating mines. This is the right time for a new Chairman to steer the Company as it takes its projects in Sierra Leone and Greenland through to their next phases. I am very pleased that Michael has joined us, I wish him every success and he has my full support in leading the board of London Mining through the next phase of growth to become one of the leading new mining companies."

Graeme Hossie, Chief Executive of London Mining said:

"Michael's extensive experience in North East Asia and China will be a real asset to London Mining as we continue to grow our projects and strengthen our global profile. His expertise and experience of serving as chairman and on the boards of global FTSE 100 companies will be invaluable in guiding London Mining as it continues its growth and transition from being developer to producer."

"On behalf of the Board I would like to thank Colin for his almost eight years as Chairman, during which time he has provided great wisdom, stability and technical support to the Company and its executive management."

Michael Miles said:

"I believe London Mining has excellent prospects to build a substantial business in the mining sector building on its strong base of current operations in Sierra Leone. I look forward to supporting Graeme and leading the Board in implementing London Mining's strategy of becoming a supplier of choice to the global steel industry."

For more information, please contact:

 
 London Mining Plc 
  Graeme Hossie, Chief Executive Officer 
  Rachel Rhodes, Chief Financial Officer 
  Thomas Credland, Head of Investor Relations    +44 (0)20 7408 7500 
 Liberum Capital (Nominated Advisor/Broker) 
  Clayton Bush / Christopher Kololian            +44 (0)20 3100 2000 
 J.P. Morgan Cazenove (Broker) 
  Ignacio Borrell                                +44 (0)20 7742 4000 
 Brunswick Group LLP 
  Carole Cable / Rosheeka Field                  +44 (0)20 7404 5959

About London Mining

London Mining is an expanding producer of high specification iron ore for the global steel industry and is focused on identifying, developing and operating sustainable mines. London Mining commenced sales from the Marampa Mine in Sierra Leone in 2012 and expects to reach production capacity of 5Mtpa in 2013. A bankable feasibility study was completed in 2012 on an expansion plan to 9Mtpa and a prefeasibility study was completed in 2011 which shows that Marampa has resources to support a staged expansion to over 16Mtpa. London Mining has also completed bankable feasibility studies outlining plans for a further 20Mtpa of iron ore production by developing two other mines in Greenland and Saudi Arabia. London Mining is also producing from a coke operation with coking coal resource potential in Colombia. The Company listed on AIM in London on 6 November 2009. It trades under the symbols LOND.L (Reuters) and LOND LN (Bloomberg). More information about London Mining can be found at www.londonmining.co.uk.

Notes

On appointment, Henry Michael Pearson Miles, age 76, holds nil shares in the Company.

Michael's Curriculum Vitae is outlined below.

Michael has lived and worked in North East Asia for over 30 years and visited China regularly since 1979 on business with or for Swire Group, Schroders, BP, China/Britain Trade Group and the Hong Kong Association. He was a member of the Hong Kong Trade Development Council from 1976 to 1988 and has served on the following Boards to date:

Served on the following Boards:

 
 1990 - 1998      Portals Ltd. (bank note paper manufacturers) 
 1993 - 1999      Balfour Beatty 
 1990 - 2006      Johnson Matthey plc, Chairman 1998 - 2006 
 1994 - 2006      BP plc 
 1990 - 2012      Hong Kong Association 
 1990 - 1999      China Britain Trade Group, Vice President 
 2003 - 2012      Schroders plc - Chairman 
 1990 - present   GEMS Ltd. (venture capital - China Region) 
 
 
 Education: 
               Wellington College, Berks 
               Short service commission Duke of Wellington's Regiment 
 
 Career: 
 1958          Joined Swire Group (John Swire & Sons Ltd) 
 
 1960's        Various junior and middle-management roles in Hong Kong, Japan and Australia 
 
 1971          Joined the Board of John Swire & Sons in Hong Kong and Japan 
               Executive positions in shipping, owning and shipping management - in the Far East (Hong Kong 
                and Japan) trades to Europe and similarly to Australia and New Zealand 
 
 1976 - 1984   Appointed deputy Managing Director and then 1978 Managing Director of Cathay Pacific Airways 
                (Hong Kong airline) 
 
 1984 - 1988   Appointed Chairman Swire Group (Hong Kong), Swire Pacific and Cathay Pacific 
 
 1978 - 1988   Member of the Hong Kong Trade Development Council which involved many PRC visits, mainly to 
                Beijing and Shanghai 
 
 1988          Appointed OBE (for services to aviation) 
 
 1988 - 1999   Executive Director John Swire & Sons Limited

No further information is required for disclosure in respect of Rule 17 or Schedule 2 paragraph (g) of the AIM Rules for Companies.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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