Fao: Alan Watling CEO If LIU is unreasonable... after making effort to reason with LIU, then it may be an idea to find out who LIU reports to - not to flank LIU, but to ensure etiquette and participatory transparency continues.........?
explain please sittight ,
All management; General Managers, Heads of Department and all other senior management both locally and internationally in respect of the Operating Companies will report to Gibril Bangura with immediate effect,,,,,,,,,,,,,,,,,,,,,,,,,,than .............. MEMO ATTENTION: All Staff FROM: Gibril Bangura, Executive Chairman and Acting Chief Executive Officer Since the Mining Operations were placed in care and maintenance in December last year, we have been in continued negotiations with our internal shareholders regarding the way forward. We will continue to inform you of any changes to these positions as and when they occur. In the meantime, we are closely monitoring some encouraging developments in the downward trends of infection rates in the Ebola crisis across the country. This has been confirmed in a recent nationwide statement by His Excellency the President of Sierra Leone. We therefore remain hopeful of an improved iron ore price on the world market. The company also wishes to thank you all for your continued support and patience while we seek sustainable solutions to our current circumstances. .........................................then ........................... In the current extremely difficult financial and operational circumstances of the AML Group, all decisions about new financial commitments (including changes to existing ones) of the Group have to be made carefully taking into account all relevant factors. To ensure that this can be done, all such decisions now require my approval as CEO of AML, and where appropriate I will ensure that these are also referred to the relevant boards of directors. This will ensure that all companies in the Group, and their directors and staff are seen to be acting in the best interests of the companies’ creditors and shareholders This applies to all financial commitments within the Group, including purchasing any materials and services, new contracts or changes to existing contracts, settlements of claims, new employees/contractors or changes to their terms. It applies equally at AML level and Operating Company level (TIOSL and ARPSSL), because AML is the 75% shareholder in these companies. My approval is in addition to any normal management process and approval.
LIU Any idea what is it all about? its about POWER over AML , can't you see,,,,,my approval as CEO of AML,,,,,,,,,,,,,,,,,,,?
In the current extremely difficult financial and operational circumstances of the AML Group, all decisions about new financial commitments (including changes to existing ones) of the Group have to be made carefully taking into account all relevant factors. To ensure that this can be done, all such decisions now require my approval as CEO of AML, and where appropriate I will ensure that these are also referred to the relevant boards of directors. This will ensure that all companies in the Group, and their directors and staff are seen to be acting in the best interests of the companies’ creditors and shareholders This applies to all financial commitments within the Group, including purchasing any materials and services, new contracts or changes to existing contracts, settlements of claims, new employees/contractors or changes to their terms. It applies equally at AML level and Operating Company level (TIOSL and ARPSSL), because AML is the 75% shareholder in these companies. My approval is in addition to any normal management process and approval. Regards, Alan Watling CEO
Good Morning Liu, You account has been permanently suspended due to the defamatory and potentially libelous posts regarding AMI. While we welcome both positive and negative views, we do not allow posts that could be classed as defamatory.
FROM: Gibril Bangura, Executive Chairman and Acting Chief Executive Officer ........................................ Since the Mining Operations were placed in care and maintenance in December last year, we have been in continued negotiations with our internal shareholders regarding the way forward. We will continue to inform you of any changes to these positions as and when they occur. In the meantime, we are closely monitoring some encouraging developments in the downward trends of infection rates in the Ebola crisis across the country. This has been confirmed in a recent nationwide statement by His Excellency the President of Sierra Leone. We therefore remain hopeful of an improved iron ore price on the world market. The company also wishes to thank you all for your continued support and patience while we seek sustainable solutions to our current circumstances. ==END=
All management; General Managers, Heads of Department and all other senior management both locally and internationally in respect of the Operating Companies will report to Gibril Bangura with immediate effect .Gibril Bangura is acting CEO,
The iron ore price plummeted on Monday as negative sentiment overwhelms a market bracing for a supply glut and falling consumption. The 62% Fe benchmark import price including freight and insurance at the port of Tianjin tracked by The SteelIndex tanked $2.60 or 3.9% to $63.30 a tonne on Monday. The price of the steelmaking raw material is trading at the lowest levels since early May 2009. So far in 2015 the price has fallen 12.5% following a year in which the commodity nearly halved in value. Iron ore hit a peak above $190 a tonne in February 2011. Significant overinvestment to date will ensure that the market is well supplied, while demand from the Chinese steel sector is maturing. A painful war of attrition awaits In China, which consumers more than 70% of world seaborne trade, steel mills are cutting back on production as property and infrastructure investment in the country slow markedly after decades of breakneck growth. China’s economy grew at its slowest pace in nearly a quarter of a century last year with annual expansion of 7.4%, last seen when the country faced international sanctions in the wake of the 1989 Tiananmen Square massacre. China’s steel output continued to grow in 2014, but at a far slower pace at less than 1% compared to the year before, according to the World Steel Association. Even more than softening demand increased supply has been blamed on the fall in the price. Global production of iron ore rose by an annual average of over 6% from 2010 to 2014 despite the fall in prices and is set to expand even further this year. The growth in output came mainly from the big three producers – Vale, Rio Tinto and BHP Billiton – which even at today's price enjoy fat margins thanks to cost of production of only around $25 a tonne. Goldman Sachs released its estimates for iron ore on Friday. The investment bank cut its outlook for iron ore for this year to $66 a tonne this year, down substantially from an earlier estimate of $80: "Significant overinvestment to date will ensure that the market is well supplied, while demand from the Chinese steel sector is maturing. A painful war of attrition awaits.