African Minerals Forum

The Ebola protocol remains at Level 4 status as described in previous communications and the price of iron ore on the world market continues to sit at a historical low. Additionally, Tonkolili operations remain suspended and we expect care and maintenance to continue while we attempt to resolve differences between the shareholders of ARPS and TIO (the “Operating Companies”) and source additional funding for the business. At this stage it is unclear if and when a resolution will be reached. Due to the lack of revenue as a result of the operations suspension and placement onto care and maintenance activities and Ebola, the Operating Companies to whom you are seconded (from AML) cannot continue to cover all salary costs indefinitely. In line with the Operating Companies’ requirements, the Company’s workforce is being restructured to support the current care and maintenance programme, and limited operations for handling Marampa product over the rail and port. In addition we have identified and are retaining a very reduced workforce for a limited period in accordance with our Ebola protocols to be available for re-start of operations if funding is resolved soon.

ArcelorMittal recently decided to expand its West African iron ore operations, buying around half of the Mount Nimba deposit in Guinea, located 40 kilometers from its existing Liberian operations."another player with great synergies in the area.

Regardless of the current conditions we have seen so much activity with Iron Ore miners esp in Africa I really do not see why on earth we are sweating here.Jindal wanted Marampa FACT.Rio just decided to plough ahead with the guinea operation, again in the multi billions for a Greenfield project.Glasenberg has stated only a few months ago that at the right price he will be looking at all mines for sale.In the link below Vale state that by 2016 they intend to invest 12 billion into African mines.Shandong are trying to turn us over but the point is that they want the mine.

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As the Rio investment underlines miners and steelmakers plan for the longterm and are always after assets.The question is who are the other party at the table with AML right now and why is FT spending so much time courting the chinese.That is our price take it or leave it!!Then move on

The idea that we are limited to Shandong makes zero sense.

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posted it week ago

they will never lose

ft already sign as a Chairman $50 m to Cyprus , forget?