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21 Mar 2014 07:00
21 March 2014
African Minerals Limited
("African Minerals", "AML", or "the Company")
Notice of Results
African Minerals, the developer and operator of the Tonkolili iron ore mine in Sierra Leone, advises that it will announce its preliminary results for the year ended 31 December 2013, on Thursday 3rd April 2014.
An analyst briefing will be held at 9:00am BST at the offices of Jefferies, Vintner's Place, 68 Upper Thames Street, London EC4V 3BJ, on the day of the results and a webcast will be hosted simultaneously.
Details of the webcast will be available in the results announcement.
Contacts:
African Minerals Limited
+44 20 3435 7600
Mike Jones
Tavistock Communications
+44 20 7920 3150
John West / Jos Simson / Nuala Gallagher
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, Phase II, now intends production to increase further and include the production of a high grade concentrate with the first concentrator plant 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
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