Record sales for African Minerals

African Minerals, the Aim-listed iron ore miner founded by the colourful former boss of Regal Petroleum Frank Timis, yesterday posted record first-quarter production of 5.3m tonnes and record sales of 4.6m tonnes, while cash costs fell over the period. “We are well advanced in our next stage of growth targeting low capital cost optimisation and expansion to our infrastructure capacity,” said chief executive Bernie Pryor.