Inactive Instrument

African Minerals Limited

AMLZ.F

BMG0114P1005

African Minerals Seek To Sell Stake In Mine

September 30, 2014 at 12:00 am EDT

African Minerals Limited (AIM:AMI) said it was open to selling a minority stake in its only mine as part of a financial rescue after reporting a 97% fall in its first half core earnings. African Minerals is seeking working capital and cash to fund the expansion of its Tonkolili mine and to refinance an expensive $250 million loan.

Latest news about African Minerals Limited

Leadenhall Australia Pty Ltd and Noble Investments Superannuation Fund Pty Ltd acquired 5.55% stake in Cape Lambert Resources Limited from African Minerals Limited (OTCPK:AMLZ.F) for AUD 0.32 million.	16-09-25	CI
Shandong Iron and Steel Group Co Ltd acquired the remaining 75% stake in Tonkolili Iron Ore Ltd. from African Minerals Ltd for $170 million.	15-04-20	CI
Cui Jurong Resigns as Non-Executive Director of African Minerals Limited	15-03-17	CI
Alan Watling Resigns as Chief Executive Officer and Director of African Minerals Limited	15-02-16	CI
African Minerals Limited Announces the Resignation of Ian Cockerill as Director	14-12-29	CI
African Minerals Limited Announces Operating Results for the Third Quarter of Fiscal 2014	14-12-01	CI
African Minerals Limited Announces Unaudited Consolidated Earnings and Production Results for the Six Months Ended June 30, 2014; Provides Production Guidance for the Third Quarter of 2014, Full Year of 2014 and Full Year 2015	14-09-30	CI
African Minerals Seek To Sell Stake In Mine	14-09-30	CI
African Minerals Limited Announces Change of Directors	14-08-22	CI
African Minerals Limited Announces Executive Changes	14-08-15	CI
African Minerals Limited Announces Resignation of Dermot Coughlan as Independent Non-Executive Director	14-07-16	CI
African Minerals Limited Reports Production Results for the Second Quarter 2014	14-07-03	CI
African Minerals Limited Announces Results of Phase 2 Friable Hematite Concentrator Engineering Study	14-07-03	CI
African Minerals Limited Announces Unaudited Consolidated Earnings Results for the Year Ended December 31, 2013	14-06-30	CI
Tianjin Materials & Equipment Group Corporation cancelled the acquisition of 10% stake in Tonkolili project from African Minerals Limited.	14-06-30	CI
African Minerals Limited Auditor Raises 'Going Concern' Doubt	14-06-29	CI
African Minerals Limited Announces Production and Earnings Results for First Quarter of 2014	14-05-21	CI
African Minerals Limited Provides Update to Direct Shipping Ore Resource at Tonkolili	14-05-13	CI
African Minerals Limited Announces Unaudited Consolidated Earnings and Production Results for the Full Year Ended December 31, 2013; Provides Production Guidance for the Full Year of 2014	14-04-03	CI
Tonkolili Iron Ore Limited Appoints African Minerals as the Engineer for the Front End Engineering Design for Phase II of Tonkolili Project	14-02-16	CI
African Minerals Limited Reports Production Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Project Update	14-01-27	CI
African Minerals Limited Announces Sales Results for the Fourth Quarter and Full Year of 2013	14-01-10	CI
African Minerals Limited announced that it has received £244.55 million in funding from Tewoo Group Co., Ltd.	13-12-30	CI
African Minerals Limited Reports Production Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Sales Guidance for 2013	13-11-05	CI
African Minerals Limited announced that it expects to receive £244.55 million in funding from Tianjin Materials & Equipment Group Corporation.	13-09-26	CI

Chart African Minerals Limited

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Company Profile

African Minerals Limited is a minerals exploration, development and mining company. The Company is focused on the development and mining of the iron ore deposit at Tonkolili and its related rail and port infrastructure. Tonkolili has a JORC compliant ore resource of 12.8Bnt which extends over a combined strike length of 30 kilometers, and includes a substantial direct shipping ore and Saprolite mineral resource overlying a very large magnetite orebody. The Tonkolili project has a mine-life in excess of 60 years, is being developed in a number of staged expansions. The Company has also developed significant port and rail infrastructure to support the operation of the project, via its subsidiary African Rail and Port Services (SL) Limited, in which the Government of Sierra Leone has a 10% free carried interest.

Sector

Iron & Steel

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Sector Iron Ore Mining

	1st Jan change	Capi.
FORTESCUE LTD	-11.82%	51.33B
NMDC LIMITED	+23.14%	9.06B
KUMBA IRON ORE LIMITED	-22.65%	8.11B
SHOUGANG HIERRO PERU S.A.A.	-2.36%	5.75B
CSN MINERAÇÃO S.A.	-36.40%	5.33B
NMDC STEEL LIMITED	+29.09%	2.33B
HAINAN MINING CO., LTD.	+9.71%	1.98B
DETERRA ROYALTIES LIMITED	-7.21%	1.69B
HBIS RESOURCES CO., LTD.	+6.96%	1.62B

Iron Ore Mining