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AML chair concludes buyout of embattled London Mining asset

By: Natasha Odendaal A company established by African Minerals Limited (AML) executive chairperson Frank Timis has stepped in to buy embattled London Mining’s Sierra Leone assets for an undisclosed amount. AML gave the go-ahead to Timis, in his personal capacity, to acquire the Marampa mine, through Timis... 

African Minerals ushers in new CEO, CFO as Calder and Perry exit

By: Creamer Media Reporter London-listed iron-ore firm African Minerals Limited (AML) on Wednesday announced the resignations of its CEO and CFO and said that company director Bernard Pryor and Kazakhmys CFO Matthew Hird would take up the positions. The Tonkolili project owner, which lost 14% on the London bourse on... 

African Minerals CEO steps down after 3 yrs

By: Reuters African Minerals surprised the market on Tuesday when it said CEO Alan Watling intended to retire after just three years at the helm, following completion of an early stage in its key Sierra Leone iron-ore project. News of Watling's planned retirement hit shares in the miner, the largest of West... 

African Minerals doubles Tonkolili resource

By: Loni Prinsloo Aim-listed African Minerals on Wednesday announced that it had doubled the resource size of its flagship Tonkolili project in Sierra Leone to 10,5-billion tons making it the world's biggest magnetite iron-ore resource compliant to Australia's Joint Ore Reserves Committee (Jorc) code. African... 

Chinese firm to buy £153m stake in African Minerals

By: Chanel de Bruyn Aim-listed African Minerals on Wednesday announced plans to sell a 12,5% stake in the company to the China Railway Materials Commercial Corporation (CRM) for about £152,6-million, which would provide the majority of funding required to advance its flagship Tonkolili iron-ore project, in Sierra... 

$2,6bn capex for 
iron-ore project 
in Sierra Leone 

Mineral exploration company African Minerals said earlier this month it expects $2,6-billion in capital expenditure at its flagship iron ore project at Tonkolili, in Sierra Leone, and forecast production to start in 2013. 

African Minerals raises £63,8m for Sierra Leone iron-ore project

By: Chanel de Bruyn Aim-listed minerals exploration company African Minerals on Thursday raised £63,8-million or about $105,3-million through a cash placing with institutional investors, to fund further work at its flagship Tonkolili iron-ore project, in Sierra Leone. It had issued in excess of 25,5-million new... 

African Minerals’ Tonkolili project exceeds resource target

By: Esmarie Swanepoel Aim-listed African Minerals has updated the mineral resource for its Tonkolili iron-ore project, in Sierra Leone, to 5,1-billion tons, at an average grade of 30% iron, delivering growth in tonnage and grade from the previously reported figures of 4,7-billion tons, at an average grade of 29,9%... 

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