AMI.L Regulatory News (AMI)

16 Dec 2008 07:00



16 December 2008

For immediate release

African Minerals Limited

 ("African Minerals" or "the Company")

Appointment of CEO

African Minerals Limited (AIM:AMI), the mineral exploration company with significant interests in Sierra Leone, West Africa, is pleased to announce the appointment of Mr. Alan Stephen Watling as Chief Executive Officer effective 1 February 2009. Mr. Watling's appointment strengthens the Company's Board and adds a wealth of engineering and project management experience to the executive team. He will lead the development of the Company's world-class iron ore project at Tonkolili and the associated port and railway infrastructure project. 

Until 11 November 2008 Mr Watling was Chief Operating Officer at Fortescue Metals Group (ASX: FMG) ("Fortescue"). Fortescue, a Greenfields project, was established and listed in June 2003.  Within five years, the company explored and identified a 1.6 billion tonne iron ore resource, raised funds totalling A$3.3 billion, completed the design and construction of its mine, railway and port facilities and, in May 2008,  commenced shipping iron ore to Asia.  Fortescue is now the world's fourth largest iron ore producer and operates one of the heaviest haul railways in the world. The establishment of the company and development of the project have in many areas achieved or broken world records. 

Mr Watling, aged 55, has had an illustrious career in management of major international rail and port facilities. Prior to being appointed Chief Operating Officer of Fortescue, Mr Watling held senior positions within Fortescue and other multi-national companies. His extensive experience includes the position of Head of Railways of Hamersley Iron Pty Limited, a wholly owned company of Rio Tinto Ltd, managing over 650 kms of heavy haul standard gauge track, servicing two ports and five mines. Mr Watling's responsibilities included operation and maintenance of Hamersley's extensive rail network, annual budgeting and capital expenditure for Hamersley's operations. 

Commenting on the appointment, Mr. Frank Timis, Executive Chairman of African Minerals said:

"We are delighted that Alan has accepted the role of CEO of African Minerals as we seek to build on our lease agreement with the Government of Sierra Leone, announced on 12 November 2008, to develop the port and railway infrastructure that will service our flagship iron ore projects at Tonkolili and Marampa. Alan has proven expertise in major port and railway construction projects, substantial mining related experience and a successful track record in completing projects against tight deadlines. Alan has the background and credentials to build and lead the team that will drive the Company forward to the completion of definitive feasibility studies over our iron ore projects and then onward into production."

There is no information in relation to Mr. Watling's appointment required pursuant to Schedule 2 paragraph (g) of the AIM rules for Companies other than as follows:

Current Directorships

Nil

Past Directorships

Non-Executive Director, Port Hedland Port Authority

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