London Mining Stands Against Bribery

London Mining is fully compliant with the UK Parliament’s Bribery Act 2010. All London Mining staff and contractors are contractually bound to comply with London Mining’s ‘Anti-fraud, Bribery and Corruption Policy’, in which the Act is referenced. All workers are required to contribute towards maintaining the a culture of honesty and ethical behaviour within the company, and all staff members are required to undergo training on the Bribery Act and how to detect, manage and report potential breaches of it.

London Mining is to recieve a direct interest of 25% in the Wadi Sawawin project through its joint venture partner in the project National Mining Company (NMC). NMC holds the historical exploitation licence for the Wadi Sawawin project and three adjacent exploration licences. This agreement supersedes the previous agreement whereby London Mining held a 50% interest in a joint venture company, Saudi London Iron Limited, into which the licences were going to be transferred. Upon closing London Mining will receive shares equal to 25% of the issued share capital of NMC.