London Mining stocks plunge to record low after Ebola outbreak
AN OUTBREAK of the deadly Ebola virus in Sierra Leone drove London Mining shares down 13.8 per cent yesterday to a record low of 36p.
The British Aim-listed iron ore company was hit hard in a mining sell-off that also dropped African Minerals 7.6 per cent, to 97p.
London Mining said it had increased its assessed risk level and placed precautionary travel restrictions on certain areas, with some non-essential personnel already having left the country.
The spread to Sierra Leone of the virus, which is highly contagious and has a mortality rate of up to 90 per cent, has so far resulted in five deaths, and follows at least 193 cases in neighbouring Guinea, plus further cases in Liberia.
London Mining says there have been no cases of the virus in its workforce or in communities near its Marampa mine. It is closely monitoring the situation and coordinating its response with the World Health Organisation.