Miner African Minerals outlines financial recovery plan

Miner African Minerals plans to increase export volumes and boost revenues by reducing discounts and requiring a premium on some of its iron ore, the company said on Friday, as part of a recovery plan aimed at shoring up its battered finances. The West Africa-focused iron ore miner has come under heavy pressure this year, hit by a 40% drop in the iron-ore price and an Ebola crisis that has battered the broader region. African Minerals said in Friday's statement that its projects remained unaffected by the epidemic.