EXXARO RESOURCES LIMITED - Exxaro opts out of Makhado ProjectRelease Date: 01/10/2012 08:30:00 Code(s): EXX
EXXARO RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2000/011076/06
JSE share code: EXX
ADR code: EXXAY
EXXARO OPTS OUT OF MAKHADO PROJECT
Diversified resources group Exxaro Resources Limited (Exxaro) today announced that it has
decided not to exercise its right to participate in the development of the Makhado coal project
with Coal of Africa Limited (CoAL).
Following an extensive exchange of information and evaluation of the project by the technical
teams from both companies, Exxaro will not use its pre-emptive right to a 30 percent interest in
Sipho Nkosi, Exxaro chief executive officer, said, ?It is after serious consideration that we have
decided not to take up the Makhado option. We have had to consider the various alternative
projects currently in our growth pipeline , and also the current negative sentiments regarding the
global and local macro economical growth outlook, and will therefore need to focus on our top
priorities. We thank CoAL for the excellent cooperation of the past number of months and wish
them all the best in their endeavours. ?
The Makhado project represents a potential development of hard coking coal assets in
Exxaro is one of the largest South African based diversified resources groups, with interests in
coal, mineral sands, iron ore and energy.
Wim de Klerk
Tel: +27 12 307 3173
1 October 2012
Deutsche Securities (Proprietary) Limited
Date: 01/10/2012 08:30:00 Supplied by www.sharenet.co.za
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