<p>India's Jindal Group is considering the purchase of debt-ridden British firm London Mining, which is faced with crashing iron-ore prices and the ebola outbreak in Africa where it operates a mine, the Sunday Times reported.<br /><br /></p>.<p>London Mining shares closed last week at just four pence after it said it was in talks with a strategic partner, but a rescue would likely require lenders to accept big losses, the report Sunday said. <br /><br />The company operates a small mine in Sierra Leone producing high grade iron-ore, which, however, is expensive to run. <br /><br />Sierra Leone, in west Africa, is one of the worst-affected African nations by the ebola pandemic. <br /><br />Last week London Mining hired biggest lender, Standard Chartered, to arrange $500 million in debt. <br /><br />While iron ore demand has slackened because of a slowdown in growth in China, the market has been flooded by big miners like BHP Billiton and Rio Tinto, the report said. <br />Iron ore price has plummeted by more than 40 percent this year to $79 a tonne.</p>
<p>India's Jindal Group is considering the purchase of debt-ridden British firm London Mining, which is faced with crashing iron-ore prices and the ebola outbreak in Africa where it operates a mine, the Sunday Times reported.<br /><br /></p>.<p>London Mining shares closed last week at just four pence after it said it was in talks with a strategic partner, but a rescue would likely require lenders to accept big losses, the report Sunday said. <br /><br />The company operates a small mine in Sierra Leone producing high grade iron-ore, which, however, is expensive to run. <br /><br />Sierra Leone, in west Africa, is one of the worst-affected African nations by the ebola pandemic. <br /><br />Last week London Mining hired biggest lender, Standard Chartered, to arrange $500 million in debt. <br /><br />While iron ore demand has slackened because of a slowdown in growth in China, the market has been flooded by big miners like BHP Billiton and Rio Tinto, the report said. <br />Iron ore price has plummeted by more than 40 percent this year to $79 a tonne.</p>