African Minerals Limited provided an update on various operational and financial matters as the Company continues to ramp up production at the Tonkolili iron ore mine in Sierra Leone. WPP ramp up update: the new WPP at Tonkolili continues to ramp up, with no major issues identified to date. The process facilities at Tonkolili are continuing to build up towards a sustainable combined production rate of 20 Mtpa during second quarter of 2013.

Rail Upgrade Programme: Welding of the 74km of rail that has been replaced and upgraded between Pepel Port and Lunsar has been completed, and ballasting is nearing completion, with tamping and destressing to be completed by year end. Train speeds over this new track section have increased from 5kph to 40kph, and when the outstanding work is completed it is expected that overall train speeds over the whole railway will be increased to 60kph. The flexibility that will be provided by the addition of a full rail loop at Pepel, which will further reduce cycle times and is expected to be completed during first quarter of 2013, will allow the full complement of ten train sets to run, supporting the 20 Mtpa target rate.

Delivery of rolling stock is progressing well, with now 816 wagons having been delivered and a further 120 in transit with the balance of 120 to be delivered in first quarter of 2013. 24 locos are now on site, with two currently awaiting dispatch before year end, and the balance of eight, bringing the complement up to 34, to be delivered during first quarter of 2013.