Mining boss sells to fund property purchases

Simon Farrell, a non-executive director at the mining companies Bellzone Mining and Kenmare Resources, has sold millions of pounds in shares to fund a property spending spree in the UK and Australia.

He sold about 2.23m shares in Bellzone, which has iron ore assets in Guinea, at an average of 66.31p a share, which leaves him with about 2.77m shares, about 0.38% of the company.

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"Mr Farrell disposed of this interest in Bellzone, along with significant other financial interests in other entities of which he has a management interest, in order to fund the purchase of properties in Australia and in the UK," said Bellzone in a statement today.

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