EXX - Exxaro - News Release: Exxaro Awarded Additional Entitlement At RBCT
EXXARO RESOURCES LIMITED
(formerly Kumba Resources Limited)
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
Share Code: EXX
ISIN Number: ZAE000084992
("Exxaro" or "the company")
NEWS RELEASE: EXXARO AWARDED ADDITIONAL ENTITLEMENT AT RBCT
Diversified resources group Exxaro Resources Limited (Exxaro) welcomes
today`s announcement by Richards Bay Coal Terminal (RBCT) that the group
has been awarded 2,5 million tonnes (Mt) per annum of export entitlement
through the RBCT subscription process.
This volume will become available on completion of RBCT`s Phase V expansion
which will increase RBCT`s overall annual throughput capacity by 19Mt by
the second quarter of 2009.
The additional 2,5Mt awarded today is in addition to the 0,8Mt per annum
RBCT entitlement that Exxaro acquired following the merger with Eyesizwe
Also on completion of the RBCT expansion, Exxaro will receive a further 2Mt
of export entitlement via the South Dunes Coal Terminal Company, resulting
in Exxaro`s total entitlement increasing to 5,3Mt per annum.
"Exxaro needs increased, competitively priced entitlement at RBCT in order
to match increasing production of export coal from our current and new
mines. Our increased shareholding in RBCT is one of the essential
requirements needed to facilitate Exxaro`s growth prospects and is very
much aligned with our growth strategy," said Ernst Venter, executive
general manager of Exxaro`s coal division.
"We now have a significant coal export business, one which will grow hand
in hand with Exxaro`s strategy to become a major coal player in South
Africa," said Dr Con Fauconnier, Exxaro`s chief executive officer.
Exxaro is a diversified resources group with interests in the coal, mineral
sands, base metals, industrial minerals and iron ore commodities. Exxaro
was formed through the re-listing on the JSE Limited of Kumba Resources in
November 2006 as part of a major black economic empowerment transaction in
which Kumba`s iron ore assets were unbundled and listed as Kumba Iron Ore,
and the non-iron ore assets were merged with the assets of Eyesizwe Coal
and re-listed as Exxaro. The Exxaro group is one of the largest suppliers
of coal to Eskom, and is currently exporting some 2,5 million tonnes of
coal through its limited entitlement at RBCT and the annual lease of
additional entitlement. More information is available on www.exxaro.com.
Executive General Manager: Exxaro Coal
Tel: +27 (0) 12 307 4322
Mobile: +27 (0) 83 609 1313
10 May 2006
Date: 10/05/2007 16:33:15 Supplied by www.sharenet.co.za
Produced by the JSE SENS Department .