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4 Jan 2013 15:08
04 January 2012
African Minerals Limited ("Company")
Director share dealing
African Minerals Limited today received notice of the following purchases today of common shares in the Company by a Director of the Company:
Director | No. of common shares acquired | Average price per share | Beneficial interest following this purchase:No. of common shares |
Roger Liddell | 50,160 | 336.51p | 115,000 |
ENDS
Contacts:
African Minerals Limited
+44 20 3435 7600
Mike Jones
FTI Consulting
+44 20 7831 3113
Billy Clegg / Ben Brewerton
Deutsche Bank
+44 207 545 8000
Brent Nabbs
African Minerals is developing its Tonkolili iron ore 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 operations are expected to produce 20 million tonnes of iron ore per annum at full capacity, expected to be achieved in Q2 2013.
The next stage of 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 Tonkolili 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 a 10% free carried interest.
www.african-minerals.com
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