Marampa to have a right to access existing Rail and Port facilities
On 1 October 2008, Australian domiciled iron ore company Cape Lambert Iron Ore Limited ("Cape Lambert" or the "Company") (ASX: CFE, AIM: CLIO) formalised an agreement ("Agreement") relating to a 30% investment in Marampa Iron Ore Limited ("Marampa"), a wholly owned subsidiary of African Minerals Limited ("African Minerals") (AIM: AMI) and owner of the Marampa Iron Ore project ("Marampa Project") in Sierra Leone.
The Company notes the AIM announcement made by African Minerals dated 12 November 2008 in respect to entering into an infrastructure lease with the Government of Sierra Leone ("GoSL") over the Pepel Port and the Pepel - Marampa railway ("Infrastructure Facilities"). The lease enables African Minerals to maintain and operate the Infrastructure Facilities on a commercial basis. A full copy of the African Mineral's AIM announcement can be viewed at www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=2018170&source=RNS.
Pursuant to the Agreement, on grant of a lease to African Minerals by the GoSL for the Infrastructure Facilities, African Minerals is required to grant access rights to the Infrastructure Facilities to Marampa on commercial terms to be agreed by Cape Lambert and African Minerals. This will enable the Marampa Project, if a mining operation is established, to access the Infrastructure Facilities to transport iron ore concentrates to Pepel for export.
Executive Chairman Tony Sage commented "this is an important development in relation to our 30% investment that will reduce the barriers, and capital expenditure required to establish a mining operation at Marampa".
For further information please contact:
Cape Lambert Iron Ore Limited:
Tony Sage +61 (0)8 93809555
Australian Enquiries:
Professional Public Relations
David Tasker +61 (0)8 9388 0944
UK Enquiries:
Nominated Adviser:
Grant Thornton UK LLP
Fiona Owen
+44 (0)20 7383 5100
AIM Broker:
Collins Stewart Europe Limited
Adrian Hadden +44 (0)20 7523 8353
Oliver Quarmby +44 (0)20 7523 8354
Conduit PR
Jos Simson +44 (0)20 7429 6603
Jane Stacy +44 (0)20 7429 6606
Website:
www.capelam.com.au
CFE Price at posting:
21.5¢ Sentiment: LT Buy Disclosure: Held
