African Minerals completed the country’s first aeromagnetic survey during 2004 and subsequent exploration programmes and multi-element sampling analysis have resulted in the Company assembling a large mineral exploration portfolio in Sierra Leone. The Company is particularly excited by the progress at its flagship project, the Tonkolili iron ore project, where a JORC compliant magnetite resource of 10.5 Billion tonnes has been prepared by SRK Consulting (UK) Limited. This is the world’s largest reported JORC compliant magnetite iron ore mineral resource and African Minerals is in a very strong position to realise the full potential of the Project and compete alongside leading iron ore producers in supplying international steel markets. Additional exploration activities at Tonkolili have also confirmed the potential for 800 Million tonnes of hematite mineralisation. The Company signed a lease agreement with the Government of Sierra Leone in November 2008 over key rail and port infrastructure. Dependent upon the results of engineering studies, the Company will refurbish and construct rail and port facilities to accommodate its iron ore production and shipping capacity requirements and provide third party access at commercial rates.

Most Read News