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EXX - Exxaro - Exxaro Withdraws From Igoda Coal Export Venture

Release Date: 14/09/2009 10:00:01      Code(s): EXX
EXX - Exxaro - Exxaro Withdraws From Igoda Coal Export Venture                  
EXXARO RESOURCES LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
Registration number: 2000/011076/06                                             
JSE share code: EXX                                                             
ISIN: ZAE000084992                                                              
ADR code: EXXAY                                                                 
Diversified South African-based resources company Exxaro today announced that   
it has withdrawn from the Igoda coal export venture with Sasol Mining.          
The decision follows a review and prioritisation by Exxaro of its capital       
expenditure and project pipeline following the global economic downturn.        
"As we communicated during the presentation of our interim financial results    
last month, Exxaro has reduced its project pipeline and will focus on the       
successful implementation of committed and board-approved projects, an          
example being the expansion of the Grootegeluk mine to supply Eskom`s Medupi    
power station," said Sipho Nkosi, Exxaro chief executive officer.               
The Igoda transaction, an empowerment venture between Eyesizwe Coal (now        
Exxaro) and Sasol Mining, was formed in 2006 and was part of Sasol Mining`s     
broad-based empowerment strategy.                                               
"While it is disappointing that the partnership with Igoda Coal is no longer    
viable for Exxaro, we understand the impact of the tough market conditions      
and recognise many companies are facing difficult decisions regarding their     
future investment options," said Hermann Wenhold, Sasol Mining managing         
About Exxaro:                                                                   
Exxaro is one of the largest South African-based resources companies with       
interests in the coal, mineral sands, base metals and iron ore commodities.     
Wim de Klerk                                                                    
Financial director                                                              
Tel: + 27 12 307 4848                                                           
Mobile: +27 82 652 5145                                                         
Email: wim.deklerk@exxaro.com                                                   
14 September 2009                                                               
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 14/09/2009 10:00:01 Supplied by www.sharenet.co.za                     
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