African Minerals’ protection call

African Minerals, the largest firm on London's Alternative Investment Market, will ask shareholders next month to vote on increasing its takeover protection, arguing that the company's corporate profile is likely to rise once it starts producing iron ore. The provisions will be a diluted version of the Takeover Code, which does not currently cover the Bermuda-registered miner. African Minerals, which last month appointed Deutsche Bank as its nominated adviser and broker, said it is not moving in response to any specific interest.