African Minerals confident

Iron ore developer African Minerals is confident of starting commercial production in the fourth-quarter from its Tonkolili project in Sierra Leone. Phase I of Tonkolili is fully funded and at full capacity is expected to produce 12m tonnes of iron ore a year, once it ramps up from initial production in the fourth-quarter. Shares in African Minerals, the largest company on London's junior AIM were flat, closing 0.3 per cent down at 513.4p.