London Mining on track for year

Aim-listed London Mining yesterday reiterated its full-year production guidance, as it unveiled a rise in first-quarter output. The iron ore producer has decided to defer its $175m (£103.6m) “Life of Mine” extension capital programme by two years, to “improve financial flexibility” in the current weak iron ore pricing environment. It also said it is looking for a strategic partner, to help reduce debt and fund its growth plans.