Change of directors

4 July 2012

African Minerals Limited ("AML" or "the Company")

Change of directors

African Minerals Limited announces that Mr Liu Guoping is resigning from his role as Non-Executive Director of the Company, and will be replaced by Mr Li Zhimin as the nominated representative of China Railway Materials Company Limited ("CRM") on the Company's Board with effect from 3 August 2012.

Under the 1 April 2010 Subscription Agreement signed with CRM, it has the right to nominate one non-executive director to the Board of AML for as long as its shareholding in AML is at least 5%. Due to Mr Liu's upcoming retirement from CRM, it has nominated Mr Li as its Board representative.

There is no information in relation to Mr Li's appointment required pursuant to Schedule 2 paragraph (g) of the AIM rules for Companies.

Commenting on the announcement, Frank Timis, Executive Chairman, African Minerals said:

"On behalf of the Company, I would like to thank Mr Liu for his valuable contribution to AML's development, since joining the Board in July 2010, and wish him well for his retirement.

"Additionally, I would like to take this opportunity to welcome Mr Li to the Board and look forward to working with him to continue the successful development of both the Tonkolili project and AML's partnership with CRM."

ENDS

Contacts:

African Minerals Limited

+44 20 3435 7600

Mike Jones

Aura Financial

+44 20 7321 0000

Michael Oke/Harry Cameron

Deutsche Bank

+44 207 545 8000

Rupert Green

African Minerals, is developing its Tonkolili iron ore project in Sierra Leone, with a JORC compliant resource of 12.8Bnt. The project, which currently has a 60+ year mine-life, is being developed in 3 phases. Phase I is expected to produce 20 million tonnes of iron ore per annum at full capacity.

Phase II now contemplates an expanded production facility at the mine to produce an additional 30Mtpa of 64% high grade hematite concentrate and the establishment of an expanded port facility at Tagrin Point.

African Minerals and its contractors currently employ approximately 9,700 people in Sierra Leone, 82% of who are Sierra Leonean nationals.

The Company has also developed significant port and rail infrastructure to support the operation of the project, via its subsidiary African Rail and Port Services (SL) Limited ("ARPS"), in which the Government of Sierra Leone ("GoSL") has a 10% free carried interest.

The Tonkolili project companies are currently owned 75% by AML, and 25% by Shandong Iron and Steel Group ("SISG"), except for ARPS, which is owned 65% by AML, 25% by SISG and 10% by GoSL.

www.african-minerals.com 

About CRM:

China Railway Materials Company Limited ("CRM"), headquartered in Beijing, is a major integrated service provider in the railway industry and one of the top 3 steel traders in China and has long established relationships with each of the Tier One Chinese Steel Mills and other State Owned Enterprises.

CRM's activities involve the manufacturing of railway materials, rolling stocks, rails, and other railway related materials and services in China and overseas. CRM has a large number of senior professionals specialised in logistics, marketing, research & development, computer applications, business administration and financial management. CRM has a successful history of overseas investment into the Australian iron ore sector.