LONDON, April 3 (Reuters) - Sierra Leone-focused miner African Minerals posted on Thursday annual core profit of more than $200 million, compared to a loss the previous year, as the miner continues to ramp up iron ore production.
The company said it was targeting sales of 16-18 million tonnes with an expected average cash cost of $34-36 per tonne in 2014.
African Minerals is aiming to reach a stable production run rate of 20 million tonnes sometime this year while reducing cash costs to approximately $30 per tonne.
The miner posted earnings before tax, depreciation and amortisation (EBITDA) of $203 million from revenue of $869 million for the year ended on Dec. 31.
(Reporting by Stephen Eisenhammer; Editing by Silvia Antonioli)