AMI.L Regulatory News (AMI)

Monday 22 July 2013

African Minerals Limited

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

Appointment of Vice Chairman

African Minerals Limited is pleased to announce the appointment of Mr Ian David Cockerill (aged 58) as an independent Non-Executive Director and Vice Chairman of the Board of African Minerals Limited, effective today. The appointment follows the Company's stated objective of having a majority of independent directors on the Board.

With 38 years of experience in the mining industry, Ian has served as the Chief Executive Officer and Director of Anglo Coal Holdings Ltd, a wholly owned subsidiary of Anglo American Plc, between May 2008 and Dec 2009; as a Director and Chief Executive Officer of Gold Fields Ltd. from July 1, 2002 to May 1, 2008 and its Chief Operating Officer and Managing Director from October 1999 to June 30, 2002. Prior to Gold Fields, he served as an Executive Officer for Business Development and African International Operations at AngloGold Limited from 1996 to 1999.

Ian currently serves on the Boards of Petmin Ltd, Hummingbird Resources Plc, Orica Ltd and Ivanplats Ltd, and is a Member of the Strategic Advisory Board at Endeavour Mining Corporation.

As Chairman of the Leadership for Conservation in Africa, Ian is engaged in promoting conservation and sustainable development across the African continent, in partnership with the South African Parks Board, global business leaders and the International Union for Conservation of Nature.

Mr. Cockerill graduated from the University of London with BSc (Hons) in Geology, and subsequently from the Royal School of Mines (Imperial College, London) with an MSc (MPM) in Mining.

The Board is also pleased to confirm that it has appointed Roger Liddell as Senior Independent Director.

Executive Chairman, Frank Timis, commented:

"It is my great pleasure to welcome Ian to our Board. Ian is without doubt one of the leading blue chip mining professionals in the industry, having led some of the largest natural resource companies in the world. His global and particularly African experience with Anglo, Gold Fields, Petmin and Ivanplats, and the advice and support that he can provide as a result will, I am sure, be of great benefit to the Company, as will his strong credentials in conservation and sustainable development."

Incoming Vice Chairman, Ian Cockerill, commented:

"I am delighted to become involved in helping to guide African Minerals at this exciting time in its development and growth. The Company is already the largest iron ore exporter in West Africa, and I am looking forward to assisting the Company as it enters the next stage of its growth, initially with the establishment of the Phase 2 expansion"

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

Mr Cockerill holds 9000 shares in the Company

In addition to the current and past directorships referred to above, in the last 5 years Mr Cockerill has been a director of the following companies :

Peterstow Ltd

Contacts:

African Minerals Limited

+44 20 3435 7600

Mike Jones

FTI Consulting

+44 20 7831 3113

Ben Brewerton

Jefferies

44 20 7029 8000

Nick Adams / Alex Collins

About African Minerals

African Minerals operates the Tonkolili Iron Ore Project (the "Project") in Sierra Leone, with a JORC compliant resource of 12.8Bnt. The Project, which currently has a 60+ year mine-life, is being developed in a number of staged expansions. The current Project operations are expected to produce 20 million tonnes of iron ore per annum at full capacity, with this run-rate of production having first been achieved in June 2013.

The next stage of Project expansion now contemplates the production of up to 35Mtpa of 64% high grade hematite concentrate and the expansion of the current port facilities at Pepel, expected to enter production in 2016.

The Company has also developed significant port and rail infrastructure to support the operation of the Project, via its subsidiary African Rail and Port Services (SL) Limited ("ARPS"), in which the Government of Sierra Leone ("GoSL") has a 10% free carried interest.

The Project companies are currently owned 75% by AML, and 25% by Shandong Iron and Steel Group ("SISG"), except for ARPS, which is currently owned 75% by AML and 25% by SISG, with the GoSL having the right to a 10% free carried interest from AML.

www.african-minerals.com