AMI.L Regulatory News (AMI)

26 Oct 2009 11:57



26 October 2009

African Minerals Limited

 ("African Minerals" "AML" or "the Company")

Appointment of DFS Contractor

African Minerals Limited (AIM:AMI), the mineral exploration and development company with significant iron ore and base metal interests in Sierra Leone, West Africa, is pleased to announce that it has appointed WorleyParsons Europe Limited ("WorleyParsons") (ASX:WOR) to undertake the Definitive Feasibility Study ("DFS") and Front End Engineering Design ("FEED") for AML's iron ore project at Tonkolili and related infrastructure projects.

After a full review of its relevant peers, WorleyParsons was selected due primarily to its proven track record of expediting large scale feasibility studies and engineering design work into construction in record time, particularly in the iron ore industry. Together, the AML and WorleyParsons senior management teams have unparalleled iron ore experience in major greenfield projects. 

WorleyParsons is currently engaged in large scale infrastructure and resource industry projects worldwide and is executing multi-billion dollar programmes in Abu Dhabi, Australia, Bulgaria, Canada, Kazakhstan, Kuwait, Qatar, Russia, Nigeria and Saudi Arabia.  

Mobilisation of WorleyParsons is due to commence on 1 November 2009 with the DFS scheduled for completion in the first quarter of 2010 and the FEED approximately four months later.

Commenting on the appointment of WorleyParsons, Alan Watling, Chief Executive Officer of AML said:

"I am pleased to announce the appointment of WorleyParsons to undertake the DFS and FEED for African Minerals 5.1 billion tonne iron ore project at Tonkolili in Sierra Leone. The tremendously experienced engineering skill base which WorleyParsons brings to this project, alongside our own specialised African Minerals team will provide a unique and necessary platform to ensure that African Minerals meets the targeted DFS completion date. 

The African Minerals project is in many ways similar to major projects previously successfully executed by WorleyParsons and I am confident that the depth of experience and skill of the combined engineering team of WorleyParsons and African Minerals will successfully expedite this world class iron ore deposit towards completion. I have been very encouraged by the level of global interest already shown in Tonkolili and I am sure this will only grow as we accelerate towards the DFS completion and into the production phase."

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