AML production up by two-thirds

The iron ore miner, African Minerals has released update on its production which shows “strong possibilities in capacity to grow with 5.5 million tons (Mt) of ore supplied in the last six months” according to a press release from the company. It says the supply represents a two-third increase from the first quarter. “Total processed tonnes were 4.4Mt, an increase of 75% over the previous quarter, while yield improved from 86% to 89%, resulting in production of 4.0Mt of saleable product, up 81% from the previous quarter” it says. Sounding upbeat, the Chief Executive Officer of the company, Keith Calder is quoted as expressing hope that “the successful stabilisation” of the Phase 1 project would provide them “the springboard for their next phase of expansion” which he said would be available by the end of the year. “African Minerals is making good progress this year, with production levels and sales rising in line with our expectations, and momentum building with the attainment of our target 20Mtpa target export run rate, which we reached in June 2013. It is particularly encouraging that this progress is being made during a wet season at the port which is similar to the one we experienced last year” Keith is quoted as saying in the release. African Minerals operates the northern Tonkolili iron ore project. © Politico 20/08/13