Director/PDMR Shareholding (7096E)
June 01 2012 - 1:36PM
UK Regulatory
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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