PALABORA MINING COMPANY LIMITED - Change In Directorate

Change In Directorate

PALABORA MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
Registration number – 1956/002134/06
JSE Code: PAM ISIN: ZAE000005245
("Palabora" or "the Company")

In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, the board of
directors of Palabora ("Board") advises Shareholders that the following changes to the
composition of the Board have taken place:

The Board is pleased to announce the appointment of the following directors:

a)   Mr. Jinghua Han as an Executive Director and Chief Executive Officer of the Company with
     effect from 1 November 2013. Mr Han was previously appointed to the board as non
     executive director. Mr Han began his business career in July 1985 by joining Handan Steel
     Company (now part of Hebei Iron & Steel Group) after graduating from the Hebei
     Mechanical and Electricity Institute where he majored in Industrial Electricity and
     Automation. Mr Han was awarded an MBA degree in 2008 from the Beijing University of
     Communications.

     Mr Han was employed by Handan Steel Company from 1985 to 2008 in a variety of
     positions, including General Manager of Handan’s steel plant. He then worked in Chengde
     Vanadium and Titanium Company Limited (a subsidiary of Hebei Iron & Steel Group) as Vice
     President from 2008 to 2010. In May 2010, he was promoted to Vice President of
     Chenggang Company, one of the core steel-making subsidiaries of Hebei Iron & Steel
     Group, responsible for Sales and Marketing.

b)   Ms Katinka Schumann is appointed to the board as a non-executive director with effect from
     1 November 2013. Ms Schumman is the Divisional Executive of Services Industries and
     Regions at the Industrial Development Corporation (IDC). She is responsible for the
     following investment portfolios:

     -   Tourism SBU
     -   Healthcare SBU
     -   Information, Communications and Technology SBU
     -   Media & Motion Pictures SBU

She is also responsible for the IDC’s regional offices in South Africa. Ms Schumann holds a B.
Home Economics degree, MBA from the University of Stellenbosch, South Africa and Advanced
Management Programme from INSEAD, France. She serve as a board member of sefa (Small
Enterprise Finance Agency), African Continental Resource Venture (Pty) Ltd. She also serve as a
trustee of Women Private Equity Fund and the Tourism Enterprise Partnership.


Phalaborwa
1 November 2013

Sponsor
One Capital

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