African Minerals Ltd

Type: Company
Name: African Minerals Ltd (African Minerals Limited)
First reported 12 hours ago - Updated 12 hours ago - 1 reports

Lacklustre Chinese demand drives iron-ore prices to 5yr low

TORONTO (miningweekly.com) – Benchmark iron-ore prices, which had fallen by more than a third since the start of the year, last week breached the $90/t level and this week continued to spiral lower to 86.2/t on Monday, as a supply glut faces reduced demand ... [Published Mining Weekly - 12 hours ago]
First reported Sep 01 2014 - Updated Sep 01 2014 - 1 reports

Ebola Virus Threatens Iron Ore in West Africa

The 24-hour news channels and papers have been understandably busy with reporting of the ISIS murder of James Foley, of the earthquake in Napa and of Russia’s incursions into Ukraine’s eastern provinces, so most of us could be forgiven for not closely ... [Published MetalMiner - Sep 01 2014]
First reported Aug 27 2014 - Updated Aug 27 2014 - 1 reports

Severe Ebola crisis puts into focus urgent need for health emphasis

The Ebola crisis in Africa brings into sharp focus the need for peaceful development of the continent rather than its securitization by the US and the West. International cooperation rather than confrontation is the correct way forward.I have traveled ... [Published Global Times - Aug 27 2014]
First reported Aug 25 2014 - Updated Aug 25 2014 - 7 reports

Ebola piles pressure on iron ore miners

Output set to suffer for UK miners such as London Mining, African Minerals and Bellzone who face acute financial difficulties from the slump in prices ... [Published FT.com - Africa - Aug 25 2014]
Entities: Mineral, Iron Ore, Ebola
First reported Aug 18 2014 - Updated Aug 18 2014 - 3 reports

Miner African Minerals wins Shandong Iron approval for funds access

Sierra Leone-focused miner African Minerals said it has agreed withpartner Shandong Iron and Steel Group to get access to $284 million of cashpreviously earmarked for phase II expansion at the Tonkolili iron ore mine.The project funds will now also be ... [Published Platts - Aug 18 2014]
First reported Aug 15 2014 - Updated Aug 15 2014 - 4 reports

AFRICAN MINERALS: SHANDONG ADVANCE PROVIDES BREATHING SPACE

African Minerals has gained access to $US248M cash through Chinese partner Shandong Iron and Steel Group as it grapples with the financial pressures of lower iron ore prices and the Ebola crisis in West Africa.Shandong will allow immediate use of funds ... [Published Mining Business Media - Aug 15 2014]
First reported Aug 13 2014 - Updated Aug 14 2014 - 9 reports

African Minerals board considers replacing chairman

Mine Web Wednesday 13th August, 2014- The board of iron ore producer African Minerals is considering replacing its executive chairman Frank Timis, who was recently at the centre of an investigation into a $50 million payment he authorised, a company ... [Published Canada Standard - Aug 14 2014]
First reported Aug 09 2014 - Updated Aug 09 2014 - 2 reports

African Minerals Limited Receives “Buy” Rating from Jefferies Group (AMI)

African Minerals Limited (LON:AMI) African Minerals Limited (LON:AMI) traded down 3.38% during mid-day trading on Friday, hitting GBX 45.4111. 5,576,418 shares of the company’s stock traded hands. African Minerals Limited has a 52-week low of GBX 42.50 ... [Published American Banking News - Aug 09 2014]
First reported Aug 06 2014 - Updated Aug 07 2014 - 6 reports

Thursday tips round-up: African Minerals, Interserve

One needs to be careful when choosing a metric on which to value a company.Using so-called "cash" production costs to do so for miners is a case in point, the Financial Times' Lex column says. That is foolish as the latter do not include shipping costs ... [Published BullBearings - Aug 07 2014]
First reported Aug 06 2014 - Updated Aug 07 2014 - 3 reports

African Minerals hits a five-month low

Jesse RiseboroughAFRICAN Minerals, the Sierra Leone iron ore producer that has plunged 76 percent in London trading this year, cited the outbreak of Ebola and a declining price for its product after the stock reached a five-year low.The realised price ... [Published IOL - Aug 07 2014]
First reported Aug 06 2014 - Updated Aug 06 2014 - 2 reports

African Minerals says no Ebola cases; operating in line with guidance

Aug 6 (Reuters) - African Minerals Ltd said no cases of the Ebola virus disease have been suspected or confirmed at its sites in Sierra Leone and that it continued to operate in line with market guidance.The London-listed miner said it was closely monitoring ... [Published London South East - Aug 06 2014]
First reported Aug 06 2014 - Updated Aug 06 2014 - 4 reports

African Minerals reveals Timis inquiry result

Governance investigation found no direct evidence that the iron ore miner’s chairman gained from a $50m payment it made to GIO Cyprus ... [Published Financial Times - UK Homepage - Aug 06 2014]

Quotes

"Our analysis in February showed that with Chinese demand growth at 1%, a surplus of 70-million tonnes could be expected against 1% global growth. This builds up rapidly to close to 200-million tonnes in 2015 if Chinese growth stagnates at this level" SP Angel Corporate Finance director and senior research analyst Carole Ferguson said on Monday
He said: "There is scope for further progress, including production expansion at Tshipi, which is proving itself to be a world class mining property."
...operational performance building on the progress made in 2013 and delivering on its new plan for strategic development," said chairman Peter Hambro. "For the full year, the Group remains on target to achieve 625,000oz of gold production at the lower end of its cost guidance range (US$900-950/oz) and, excluding the effects of any refinancing, to have its net debt reduced to c.US$850 million by the year end. From 2015, costs are expected to reduce further to c.US$750/oz, due to a major reduction in stripping volumes." FY 2014 outlook and update on refinancing:
...Rwangombwa said the sector continues to suffer from minimal financing due to its risky nature. "There is money but agriculture projects are risky... banks are only interested in bankable projects."

More Content

All (218) | News (206) | Reports (0) | Blogs (11) | Audio/Video (0) | Fact Sheets (1) | Press Releases (0)
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Lacklustre Chinese demand drives iron-ore price... [Published Mining Weekly - 12 hours ago]
Today's Market Report including Discovery Metals [Published Proactiveinvestors United Kingdom RSS feed - 21 hours ago]
Clear up legislative uncertainty in the mineral... [Published IOL - Sep 02 2014]
How ebola is menacing the UK economy: Effects o... [Published This Is Money - Sep 01 2014]
Mining Sector: Red Rock falls despite good perf... [Published MoneyAM - Sep 01 2014]
ECONOMY: Legislative uncertainty in the mineral... [Published Finweek - Sep 01 2014]
Ebola Virus Threatens Iron Ore in West Africa [Published MetalMiner - Sep 01 2014]
Mining Sector: Arian Silver up on fall in net l... [Published Stock Market Wire - Aug 29 2014]
Mining Sector: Petropavlovsk down despite swing... [Published Stock Market Wire - Aug 28 2014]
Severe Ebola crisis puts into focus urgent need... [Published Global Times - Aug 27 2014]
Mining Sector: CoAL up after £38.25m placing [Published Stock Market Wire - Aug 26 2014]
Dawnus makes $25,000 donation to help UNICEF in... [Published Wales Online - Aug 26 2014]
Ebola piles pressure on iron ore miners [Published FT.com - Africa - Aug 25 2014]
Ebola piles pressure on iron ore miners [Published FT.com - Companies UK - Aug 25 2014]
Ebola piles pressure on iron ore miners [Published FT.com - Companies, Europe - Aug 25 2014]
Ebola piles pressure on iron ore miners [Published Financial Times - Asia homepage - Aug 25 2014]
Ebola piles pressure on iron ore miners [Published Financial Times - US homepage - Aug 25 2014]
Ebola piles pressure on iron ore miners [Published FT.com - Companies - Aug 25 2014]
Ebola piles pressure on iron ore miners [Published FT.com - Energy - Aug 25 2014]
Rwanda's Economy Maintains 7.4 Percent Growth, ... [Published AllAfrica.com - Aug 25 2014]
Ebola Begins to Take an Economic Toll in West A... [Published Modern Ghana - Aug 24 2014]
African Minerals and Shandong Steel agree injec... [Published Steel Guru - Aug 24 2014]
Mining Sector: AFCR to make contribution to Dal... [Published MoneyAM - Aug 22 2014]
AML confirms board change [Published Telegraph - Aug 22 2014]
Africa Energy Indaba ups the ante with new side... [Published Publicity Update - Aug 22 2014]
Mining Sector: Beowulf falls despite 'very prom... [Published MoneyAM - Aug 21 2014]
Update: London Mining Earnings [Published Seeking Alpha - Aug 21 2014]
Ebola Sickens Economies of West Africa [Published Bloomberg - Aug 21 2014]
Artisanal miners pose complex challenge for mines [Published MiningReview.com - Aug 20 2014]
Ebola Halts Some Construction Projects in West ... [Published Engineering News-Record - Aug 19 2014]
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Today's Market Report including African Mineral... [Published Proactiveinvestors United Kingdom website - Aug 18 2014]
Economic News • Focus will be on news flow on Thursday from Central bankers and also release of PMI data from Europe and flash manufacturing survey from China. • News will focus on Central Banks this week with the Fed, academics and financiers gathering ...
Sierra Leone: Mining sector boosts fight to hal... [Published ReliefWeb - Latest Updates - Aug 11 2014]
Source: Government of Sierra LeoneCountry: Sierra Leone By State House Communications Unit The mining industry through the Sierra Leone Chamber of Mines on Friday 8th August intensified government's efforts to halt the spread of Ebola virus disease (EVD) ...
Liberia: Major companies pull staff out as Ebol... [Published H5N1 - Aug 11 2014]
Via The New Dawn: Major Companies pull staff out as Ebola hits economy.Major companies operating here have begun pulling their essential staffs out of the country as the Ebola virus which has so far claimed about 1000 lives in Liberia, Guinea and Sierra ...
Nine questions for African Minerals [Published FT Alphaville - Aug 07 2014]
They come from Deutsche Bank’s analysts — who have in the meantime suspended their ‘buy’ rating on the London-listed Sierra Leone iron ore miner. Background: a related party transaction , a director resignation , an internal investigation into ...
“He admired Frank Timis as courageous and cleve... [Published FT Alphaville - Aug 06 2014]
It seems like a good time to dust off the 2010 thoughts of the US ambassador in Sierra Leone on African Minerals, preserved for posterity in the Wikileaks batch of diplomatic cables. (H/T to the FT’s Christopher Thompson). They tell a story that might ...
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