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29 Oct 2010 07:00
29 October 2010
African Minerals Limited
("African Minerals" or "the Company")
Update on $1.5bn Shandong Iron & Steel Group Investment
African Minerals Limited (AIM:AMI), the iron ore project development company that is developing the Tonkolili project in Sierra Leone, West Africa (the "Project"), announces that, further to its press releases of 13 July 2010 and 15 September 2010, the Company has been informed by Shandong Iron & Steel Group Co Limited ("Shandong") that Shandong is making progress on the due diligence process. Discussions are on-going and both parties continue to work towards the completion of the due diligence exercise. The Company has meanwhile agreed to extend the date for Shandong to complete their due diligence to 10 November 2010.
The Company will provide further updates in due course.
Enquiries:
African Minerals Limited | Tel: +44 (0) 1481 726833 |
Alan Watling | |
Canaccord Genuity Limited | Tel: +44 (0) 20 7050 6500 |
Robert Finlay Guy Blakeney | |
Mirabaud Securities Limited | Tel: +44 (0) 20 7878 3360 |
Rory Scott Pav Sanghara | |
Pelham Bell Pottinger Limited | Tel: +44 (0) 20 7861 3232 |
Klara Kaczmarek Philippe Polman |
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