LONDON AND THE MINER'S STRIKE

It is a privilege and a delight to be invited to speak tonight to the Cymmrodorion and
Wales in London tonight.



In thinking about what I should say this evening I was reminded of that warning to all Governments of the Twentieth Century: there are two bodies you take on at your peril – the Brigade of Guards and the Miners’ Union in mining industries.

What they would do if I also wore my father’s South Wales Miners Saltley gates 1972 commemorative badge2..give me a wide berth I guess.Forty years ago this month my wife and I and our one month old daughter Hannah were in the Hayward Gallery next to the Royal Festival Hall to see the Arts Council Exhibition entitled ‘Art in Revolution’.



One of the volunteer attendants, a Cockney in his late 80s, told us he had been to Wales only once, to a place called Tonypandy in 1910 or 1911.  He had been one of Churchill’s troops.

We were living in London, in Welsh Ealing, because I was working at the TUC. I was still there a year later during the memorable and indeed successful Miners’ Strike of 1972.

London Mining Plc pledges to support the Extractive Industries Transparency Initiative (EITI) and to promote and initiate transparency in the revenues paid to governments and state-owned companies.

Extractive industries can have significant effects upon the economic growth and social development of the countries in which they operate. The effects are multifaceted and far reaching, but one of the most significant is perhaps the tax revenue which is generated for governments from mining activities. A lack of transparency and accountability of how these taxes are utilised and distributed can lead to corruption and poor governance. Therefore, London Mining believes that the disclosure of these revenues could lead to improved governance in resource-rich countries and help contribute to stable, long-term investment climates, economic growth and the sustainable development of communities.

London Mining made its first coal acquisitions in August 2008 as part of an overall strategy to develop a complimentary metallurgical coal supply for its iron ore production and in doing so take advantage of the robust long-term outlook for thermal coal. The Company owns 100% of London Mining Colombia, a coking coal developer in Colombia.

The effects are multifaceted and far reaching, but one of the most significant is perhaps the tax revenue which is generated for governments from mining activities. A lack of transparency and accountability of how these taxes are utilised and distributed can lead to corruption and poor governance. Therefore, London Mining believes that the disclosure of these revenues could lead to improved governance in resource-rich countries and help contribute to stable, long-term investment climates, economic growth and the sustainable development of communities.

We have held initial meetings with several international finance institutions and bilateral development agencies including the African Development Bank, the World Bank, UK Department for International Development (DIFD), German Technical Co-operation (GIZ) and the United States Agency for International Development (USAID), on future co-financing of projects in the countries in which we operate. This includes, for example, cofounding of research and the production of an in-depth report on Sierra Leone’s employment and skills market. This information will help us focus our community projects on developing the future of Sierra Leone in a long term and sustainable way.

Iron ore mining is predicted to contribute to a GDP growth of 50% in Sierra Leone in 2012. The start of production at Marampa in January 2012 has resulted in the first royalty payment to the Government of Sierra Leone and to the Marampa community development fund. The community development fund will be used for both regional and national development projects.

London Mining Plc pledges to support the Extractive Industries Transparency Initiative (EITI) and to promote and initiate transparency in the revenues paid to governments and state-owned companies.

Extractive industries can have significant effects upon the economic growth and social development of the countries in which they operate.

We are also engaging with the Sierra Leone Ministry of Finance and Economic Development, the African Development Bank and World Bank on infrastructure planning schemes. This includes a study into the development of a deep sea port.

We are talking with the Sierra Leone National Registration Office to arrange a site visit to get the local workforce supplied with National ID cards. This will not only enable us to have accurate and reliable data on the individuals working at our site, it will also mean these individuals can register to vote in elections.