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Takeover talk lifts African Minerals.

By Neil Hume and Bryce Elder

Last updated: March 24 2011

Frank Timis' African Minerals was in demand on Wednesday. Shares in the Aim-listed mining company rallied 9.6 per cent to 500.5p on talk it could be a takeover target for Anglo American.

Anglo is seeking to grow its iron ore business is on the lookout for high quality opportunities. African Minerals which is developing the Tonkolili iron ore project in Sierra Leone, could be a potential target according to Canaccord Genuity.

"Rio Tinto, who have said they are in the market for single billion type acquisitions, are already in Guinea so have the risk profile to go and do something more in Africa. Anglo American have not been as active in non-South Africa/Africa as one might have thought so would be logical for them to follow Xstrata into iron ore in the continent."

http://www.ft.com/cms/s/0/1e936228-5573-11e0-a2b1-00144feab49a.html#axzz1HpWBV8T2

African Minerals own 20% of CFE


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March 23 (Bloomberg) - Anglo American Plc, a diversified mining company, is seeking to acquire iron ore assets as the price of the steelmaking raw material rises.

"We like iron ore and are determined to grow our iron ore business," James Harman, head of business development for Anglo's iron ore and coal unit, said today at a conference in Perth, Australia. "We remain on the lookout for quality iron ore opportunities globally, including Australia."

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http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/03/23/bloomberg1376-LIHOUQ1A1I4H01-00361V51NKOP5S9LTH9SOKSJLR.DTL