African Minerals Limited announced unaudited consolidated earnings results for the full year of 2013. For the year, the company reported revenue of $869.1 million. EBITDA was $202.9 million against LBITDA of $26.5 million a year ago. Operating profit before special items was $82.6 million against operating loss before special items of $27.9 million a year ago. Operating loss was $32.5 million against $225.7 million a year ago. Loss before taxation was $57.0 million against profit before tax of $4.3 million a year ago. Loss for the year attributable to equity holders of the company was $53.7 million against profit for the year attributable to equity holders of the company of $36.0 million a year ago. Basic loss per share was $24.65 against basic earnings per share of $10.90 a year ago. Group net debt at year end $473.3 million.

The company also reported production results for the full year ended December 31, 2013. For the year, the company reported total production of 13.1 Mt of saleable product against 5.1 Mt in 2012.

For 2014, the company expects sales guidance 16-18 Mt, with C1 cash costs for the full year expected to average $34-36/t. Further cost savings of around $40 million targeted over 2014.