Go Back Email this Link to a friend


Exx - Exxaro To Acquire Namakwa Sands And An Interest In Black Mountain

Release Date: 19/01/2007 16:01:01      Code(s): EXX
EXX - Exxaro To Acquire Namakwa Sands And An Interest In Black Mountain         
    News Release                                                                
Exxaro Resources Limited (Previously Kumba Resources Limited)                   
(Incorporated in the Republic of South Africa)                                  
(Registration number 2000/011076/06)                                            
Share code: EXX & ISIN: ZAE000084992)                                           
("Exxaro" or "the company")                                                     
NEWS RELEASE                                                                    
19 January 2007                                                                 
EXXARO TO ACQUIRE NAMAKWA SANDS AND AN INTEREST IN BLACK MOUNTAIN               
Diversified resources group Exxaro Resources Limited (Exxaro) has announced     
that pursuant to its empowerment transaction implemented recently, it has       
exercised the options to acquire the Namakwa Sands mineral sands operation      
and a 26% interest in a company to be formed to hold the Black Mountain         
zinc and lead mine and the Gamsberg zinc project.                               
The Namakwa Sands operation and the Black Mountain/Gamsberg interest will       
be acquired from Anglo Operations Limited, a wholly-owned subsidiary of         
Anglo American plc for a cash consideration of R2 015 million and R180          
million respectively, both which are subject to certain adjustments as          
fully explained in the revised listing particulars of Exxaro dated 9            
October 2006.                                                                   
"These acquisitions will position Exxaro strategically as one of the            
world`s largest suppliers of titanium dioxide feedstock and zircon and in       
addition, will strengthen its leading position in the South African zinc        
market," said Dr Con Fauconnier, Exxaro`s chief executive officer.              
"Namakwa Sands is a world-class mineral sands operation with a highly           
trained and skilled workforce which we value greatly," he added.                
Exxaro already enjoys a prominent position in the mineral sands business,       
with mining and smelter operations in KwaZulu-Natal and a 50% ownership in      
the Tiwest Joint Venture, a fully integrated mineral sands and pigment          
producer in Western Australia.                                                  
Exxaro currently owns the only zinc metal refinery in South Africa with a       
controlling interest in the Rosh Pinah zinc mine in Namibia.                    
Namakwa Sands` major assets consist of a mineral sands mine at Brand-se-        
Baai and a mineral separation plant and smelter, all situated on the west       
coast of the Western Cape.                                                      
The Black Mountain operation is located near the town of Aggeneys in the        
Northern Cape and mines lead, zinc, copper and silver and supplies zinc         
concentrate to Exxaro`s zinc metal refinery in Springs, Gauteng, on a long-     
term basis. The Gamsberg zinc project is potentially a large scale, low to      
medium grade, open-pit mine located adjacent to Black Mountain, with an         
estimated production capacity of 300ktpa of zinc.                               
The acquisitions are conditional on the fulfillment of a number of              
conditions including approval by Exxaro shareholders and subsequent             
conversion of old order mining rights.                                          
A circular setting out the terms of the transaction and convening a general     
meeting of Exxaro shareholders is being prepared and will be posted to          
shareholders within 30 days of today`s announcement.                            
The announcement is available on www.exxaro.com                                 
ends                                                                            
Editor`s Note:                                                                  
Exxaro is a diversified resources group with interests in the coal, mineral     
sands, base metals, industrial minerals and iron ore commodities.               
www.exxaro.com                                                                  
Enquiries:                                                                      
Trevor Arran                                                                    
Executive General Manager: Corporate Affairs & Investor Relations               
Tel: +27 (0) 12 307 3292                                                        
Mobile: +27 (0) 83 609 1444                                                     
Date: 19/01/2007 16:01:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  



                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2017 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.