UK Prosecutors Offer No Evidence in London Mining Case After Decade-Long Investigation
UK prosecutors have offered no evidence in proceedings brought after ten-year investigation by the Serious Fraud Office into matters connected with London Mining plc, resulting in the formal acquittal of the defendants.
At a hearing at Southwark Crown Court, the prosecution confirmed it would offer no evidence. No findings of wrongdoing were made.
Graeme Hossie, co-founder and former chief executive of London Mining, said he had consistently maintained his innocence and cooperated fully with the authorities throughout the process.
He said: “I am delighted that after more than a decade, the prosecution has offered no evidence and the court has acquitted us. The length of the process imposed a significant professional and personal burden, including on my family.
“I now intend to focus on future business and advisory work grounded in strong governance, transparency, and long-term value creation.”
London Mining was a publicly listed, multinational mining company operating across eight countries. During the period under investigation, the company was involved in rebuilding large-scale iron ore production in Sierra Leone after more than three decades without industrial output. The project involved substantial international investment and was widely cited at the time for its contribution to employment, infrastructure development, and economic growth.
Mr Hossie added that while scrutiny of international business activity was essential, the outcome raised broader questions about proportionality and timeliness in long-running economic crime investigations.
“When proceedings extend over many years and ultimately conclude without evidence, there is a wider impact on individuals, families, and the willingness of entrepreneurs to build complex international businesses from the UK,” he said.
Steven Bird, a defence solicitor from Hodge Jones & Allen who represents Mr Hossie, said: “It has been devastating for my client to live under the cloud of these proceedings for the past 10 years during which time he has steadfastly maintained his innocence of the allegations. The investigation and proceedings that followed have incurred huge costs to the public purse and to the defendants both financially and emotionally. We are pleased that the matter has been concluded with a formal acquittal and with his good character intact.”
The Serious Fraud Office confirmed that no evidence had been offered and that the defendants were acquitted.