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Iron ore mining company African Minerals appoints administrator

Reuters - UK Focus

LONDON, March 26 (Reuters) - Sierra Leone-focused mining company African Minerals has appointed administrators, it said on Thursday, having being battered by a rout in iron ore prices and costs related to the Ebola outbreak in West Africa.

After failing to repay its lender and partner in the Tonkolili iron ore project Shandong Iron and Steel Group, African Minerals has appointed Neville Kahn and Ian Wormleighton of Deloitte LLP as joint administrators of the company and of its subsidiary African Minerals Engineering Limited.

Other subsidiaries are not affected by today's announcement, it added. (Reporting by Silvia Antonioli; editing by Susan Thomas)