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Director/PDMR Shareholding

Date : 06/01/2012 @ 1:36PM
Source : UK Regulatory (RNS & others)
Stock : African Min. (AMI)
Quote : 129.75  1.75 (1.37%) @ 11:35AM
African Min. share price Chart

Director/PDMR Shareholding

TIDMAMI

RNS Number : 7096E

African Minerals Ltd

01 June 2012

1 June 2012

African Minerals Limited

Director share dealing

African Minerals today received notice of the following purchase of common shares in the Company by a Director of the Company:

 
 Director         No. of common      Average price   Beneficial interest following 
                   shares acquired    per share       this purchase: 
                                                      No. of common shares 
---------------  -----------------  --------------  ------------------------------ 
 Roger Liddell    27,700             360p            64,840 
---------------  -----------------  --------------  ------------------------------ 
 

ENDS

Contacts:

African Minerals Limited

+44 20 3435 7600

Mike Jones

Aura Financial

+44 20 7321 0000

Michael Oke / Andy Mills

Deutsche Bank

+44 207 545 8000

Rupert Green

African Minerals is developing its Tonkolili iron ore project in Sierra Leone, with a JORC compliant resource of 12.8Bnt. The project, which currently has a 60+ year mine-life, is being developed in 3 phases. Phase I is expected to produce 20 million tonnes of iron ore per annum at full capacity.

Phase II now contemplates an expanded production facility at the mine to produce an additional 30Mtpa of 64% high grade hematite concentrate and the establishment of an expanded port facility at Tagrin Point.

African Minerals and its contractors currently employ approximately 9,700 people in Sierra Leone, 82% of who are Sierra Leonean nationals.

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 ("ARPS"), in which the Government of Sierra Leone ("GoSL") has a 10% free carried interest.

The Tonkolili project companies are currently owned 75% by AML, and 25% by Shandong Iron and Steel Group ("SISG"), except for ARPS, which is owned 65% by AML, 25% by SISG and 10% by GoSL.

www.african-minerals.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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