Iron ore miner to hit targets

IRON ore miner African Minerals saw its share price soar over six per cent yesterday, after it said it was on track to meet full-year export guidance and that production from a mine in Sierra Leone could start as early as next year.

The Aim-listed company, which was founded by Frank Timis, the colourful former boss of Regal Petroleum, said first-half sales hit 9.1m tonnes, putting it on target for full-year guidance of 16-18m tonnes.