• SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

  • Zim tastes people power

    Protests in Zimbabwe are forcing Mugabe to face anti-government sentiment, says Memory Mataranyika.

  • Platinum handshake

    Officials who try to do what's right risk far more than blessed wrongdoers, says Solly Moeng.

All data is delayed
Loading...
See More

African Minerals seeks short-term funding

Nov 21 2012 17:55
Reuters
IRON ore producer African Minerals said it would need financing in the short term as the company's revenue in the second half has been hit by wet weather, which reduced shipments from its flagship mine in Sierra Leone.

Shares in the company were down 7% at 240.5 pence at 12:53 on the London Stock Exchange.

African Minerals is in talks with Standard Bank to convert its existing $100m facility to a $100-$150m revolving credit facility before the end of 2012, it said.

The conversion of the debt facility is expected to provide $40 million to $90 million in additional liquidity to African Minerals.

"Even with the above necessary funding arrangements being successfully completed for the full amount before the end of 2012, the group has limited financial headroom," it said.

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Sarb's decision to keep the repo rate unchanged is:

Previous results · Suggest a vote

Loading...