African Minerals Limited has provided an update on various project matters as the company continues to ramp up production at the Tonkolili iron ore mine in Sierra Leone. Three ocean going vessels have been loaded and dispatched so far in December, and year-to-date export tonnage is now 4.1 Mt with ship loading continuing. While mine production and processing have exceeded 5 Mt in fiscal year 2012, shipped production for the full year is likely to fall below previous guidance due to the impact of the extended wet season.

Production ramp up continuing satisfactorily, remaining on track to deliver a sustainable production rate of 20 Mtpa during second quarter of 2013. Total tones processed at Tonkolili in November achieved an average rate of 9.4 Mtpa (October: 5.5 Mtpa), with a more recent sustained rate of 11.1 Mtpa and a peak production rate achieved so far of 15.2 Mtpa. Year to date, the company has produced 5.1 Mt of saleable product, with current stockpiles of 1.3 Mt.

However, due to the impact of the extended wet season, it is now likely that shipped production for the full year will fall below previous guidance. Three ocean going vessels have been loaded so far this month, and year to date exports now stand at 4.1 Mt, with ship loading continuing. The new Wet Processing Plant 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 as previously announced. The process facilities at the mine have achieved a daily peak production of 41,624 t, equivalent to a production run rate of 15.2 Mtpa. In October, the mine processed material at an average rate of 5.5 Mtpa, in November this increased to 9.4 Mtpa, and more recently a sustained rate of 11.1 Mtpa was achieved over a 15 day period.