African Minerals continues to ramp up production at the Tonkolili iron ore mine in Sierra Leone. But, due to the impact of the extended wet season, it is likely that shipped production for the full year will fall below previous guidance.

The company said that three ocean going vessels have been loaded so far this month and year to date exports now stand at 4.1 million tonne with ship loading continuing.

It said that the company is in advanced talks with Standard Bank to convert the existing USD 100 million standby facility to a USD 150 million revolving credit facility.

Source - Stock Market Wire

(www.steelguru.com)