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African Minerals moves to put Tonkolili on care and maintenance

By: Creamer Media Reporter London-listed African Minerals, which owned 75% of the Tonkolili iron-ore mine in Sierra Leone, had started the controlled shutdown of operations at the mine, as it moves to put the operation on care and maintenance owing to insufficient working capital. The company noted on Monday that the... 

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... 

Tonkolili on track to meet 20Mt/y target during 2014

By: Leandi Kolver Production from iron-ore developer African Minerals’ Tonkolili operation, in Sierra Leone, was expected to stabilise at 20-million tons a year during 2014, with cash costs falling to around $30/t, CEO Bernie Pryor said on Monday. "The Tonkolili project finalised its construction in May 2013 and... 

Major US$990m proposed Strategic Investment by Tianjin Materials and Equipment Group Corporation ("Tewoo") confirms US$6Bn valuation of Tonkolili Project

By: Creamer Media Reporter African Minerals Limited is pleased to announce it has entered into a strategic, binding Memorandum of Understanding (the "MoU") with Tianjin Materials and Equipment Group Corporation ("Tewoo") in respect of AML's flagship iron ore project at Tonkolili, Sierra Leone, and its related... 

Tewoo to invest $990m in Tonkolili iron-ore project

By: Leandi Kolver London-listed iron-ore firm African Minerals has entered into a memorandum of understanding (MoU) with China-based import and export enterprise Tianjin Materials and Equipment Group Corporation (Tewoo) in respect of the Tonkolili iron-ore project and its associated infrastructure in Sierra Leone.... 

African Minerals stabilising Tonkolili at 20 Mt/y, lowers sales guidance

By: Leandi Kolver London-listed African Minerals was making continued progress towards stabilising its Tonkolili iron-ore operation at the 20-million-tonnes-a-year level, new CEO Bernie Pryor said on Wednesday. Pryor was appointed CEO of the company on August 14, replacing Keith Calder, who became CEO in July... 

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... 

Cockerill appointed African Minerals vice-chairperson

By: Idéle Esterhuizen Former Gold Fields CEO Ian Cockerill has joined the board of West African iron-ore miner African Minerals as an independent director and vice-chairperson, the company announced on Monday. Cockerill, whose appointment is in line with African Minerals’ objective of having a majority of independent... 

African Minerals advances West Africa’s largest iron-ore mine

By: Natasha Odendaal London-listed African Minerals was on track to achieve the targeted 20-million-to-a-year iron-ore production capacity at its Tonkolili project by the second quarter of the 2013 financial year. The Sierra Leone-based iron-ore mine, which tabled a 2013 production guidance of 15-million to... 

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 to export 10Mt from Tonkolili in 2012

By: Idéle Esterhuizen Aim-listed African Minerals expects to export about ten-million tons of iron-ore from its Tonkolili mine, in Sierra Leone, this year, chairperson Frank Timis said on Wednesday, but cautioned that forecasting was difficult, as the mine, rail and port were still in the construction and... 

Shandong completes $1.5bn Tonkolili investment  

By: Esmarie Swanepoel China’s Shandong Iron & Steel Group (SISG) has completed a $1.5-billion acquisition of a 25% stake in Aim-listed African Minerals’ Tonkolili iron-ore project, in Sierra Leone. The investment included certain discounted offtake arrangements for iron-ore produced at the Tonkolili mine, which would... 

Company Announcement: African Petroleum Awarded Second Cote D'Ivoire Exploration Block

African Petroleum Corporation Limited, a West African focused oil and gas exploration company, is pleased to announce that its wholly owned subsidiary, African Petroleum Côte d’Ivoire Limited, has entered into an agreement with the Société Nationale d’Opérations Pétrolières de la Côte d’Ivoire... 

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