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October 17, 2014

Low iron prices, Ebola outbreak bankrupt British mining company

LONDON (AP) — Debt-plagued London Mining PLC has filed for bankruptcy protection in the wake of a slump in iron ore prices and as the Ebola outbreak complicated the sale of a mine in Sierra Leone.

The company said Thursday that a lack of liquidity, together with lengthy negotiations between potential buyers of its Sierra Leone Marampa mine, forced it to file for administration.


 
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