African Minerals Limited : Appointment of Chief Operating Officer

Stephan Weber appointed as the Group’s Chief Operating Officer with effect from 1 February 2013.

Mr Weber was most recently chief executive officer of Anglo American Iron Ore Brazil, and prior to that a managing director with Rio Tinto.

Over 25 years of technical and management experience globally as both producer and consumer, additionally including Kumba Iron Ore, Scaw Metals, Gerdau and Korf Groups.

African Minerals Limited (AIM : AMI) is pleased to announce the appointment of Stephan Weber as the Group’s Chief Operating Officer with effect from 1 February 2013.

Mr Weber (aged 51) joins AML from Anglo American, where he was chief executive officer of Anglo American Iron Ore Brazil, and was also a member of Anglo American’s group executive committee. In this role, which he held from mid-2009, he was responsible for the commissioning and ramp-up of the 6.5Mtpa Amapá Iron Ore system incorporating a mine, 200km rail, and port, as well as overseeing the $6Bn 26.5Mtpa Minas Rio project.

Mr Weber has a technical background in metallurgical engineering, in which he holds a Master’s degree. Prior to his most recent role with Anglo American, he was managing director of Rio Tinto’s “HIsmelt” division. In this role, he was also a member of the executive committee of Rio Tinto Iron Ore.

Keith Calder, CEO of African Minerals, commented:

“I am delighted to welcome Stephan to the AML Team. Stephan has a world class engineering pedigree, and has delivered major multi-element projects successfully and continuously for over 10 years, in technically challenging environments.

“With our aim of achieving the 20Mtpa sustainable production rate during Q2 this year, Stephan’s focus will be on de-bottlenecking and stabilising our current operations, and at the same time embarking on Tonkolili’s next expansion to 35Mtpa.”

Contacts:

African Minerals Limited

+44 20 3435 7600

Mike Jones

FTI Consulting

+44 20 7831 3113

Billy Clegg / Ben Brewerton / Oliver Winters

Deutsche Bank

+44 207 545 8000

Brent Nabbs

African Minerals is developing its Tonkolili iron ore project in Sierra Leone, with a JORC compliant resource of 12.8Bnt. The project, which currently has a 60+ year mine-life, is being developed in a number of staged expansions. The current operations are expected to produce 20 million tonnes of iron ore per annum at full capacity, with this run-rate of production expected to be achieved in Q2 2013.

The next stage of expansion now contemplates the production of up to 35Mtpa of 64% high grade hematite concentrate and the expansion of the current port facilities at Pepel, expected to enter production in 2016.

The Company has also developed significant port and rail infrastructure to support the operation of the project, via its subsidiary African Rail and Port Services (SL) Limited (“ARPS”), in which the Government of Sierra Leone (“GoSL”) has a 10% free carried interest.

The Tonkolili project companies are currently owned 75% by AML, and 25% by Shandong Iron and Steel Group (“SISG”), except for ARPS, which is currently owned 75% by AML and 25% by SISG, with the GoSL having a 10% free carried interest.

African Minerals Limited

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