21st Aug 2009 07:00
21 August 2009
African Minerals Limited
("African Minerals", "AML" or "the Company")
Licensing Resolution
African Minerals Limited (AIM:AMI), and London Mining PLC ("London Mining") are pleased to announce that they have settled each other's claims over the Marampa area and have agreed on the boundaries of their respective areas. The Government of Sierra Leone ("GoSL") has stated that it will incorporate the agreed boundaries in a revised Exploration Licence for AML and a revised Mining Lease for London Mining.
In addition, London Mining and the GoSL have amicably resolved their long running dispute in respect of the Marampa area.
The GoSL has fully endorsed the arrangements between AML and London Mining and is delighted that both companies are now in a position to move forward in the development of Marampa which will have significant benefits both to the local area and to Sierra Leone as a whole.
Mr Frank Timis, Executive Chairman of AML and Mr Graeme Hossie, Managing Director of London Mining stated;
"We are delighted that this misunderstanding has now been resolved and both our companies are fully committed to the development of the iron ore industry in Sierra Leone".
Enquiries:
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African Minerals Limited |
Tel: +44 (0) 1481 726833 |
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Frank Timis Alan Watling |
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Canaccord Adams Limited |
Tel: +44 (0) 20 7050 6500 |
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Mike Jones Robert Finlay |
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Mirabaud Securities Limited |
Tel: +44 (0) 20 7878 3360 |
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Rory Scott Pav Sanghara |
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Pelham Public Relations Limited |
Tel: +44 (0) 20 7337 1500 |
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Charles Vivian |
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James Macfarlane |
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Klara Kaczmarek |
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