AFRICAN RAINBOW MINERALS LIMITED - Assmang approves Ferromanganese Joint Venture in Malaysia

Assmang approves Ferromanganese Joint Venture in Malaysia

African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045

ASSMANG APPROVES FERROMANGANESE JOINT VENTURE IN MALAYSIA

Assmang Limited (“Assmang”), jointly controlled by Assore
Limited (“Assore”) and African Rainbow Minerals Limited (“ARM”),
together with China Steel Corporation (“China Steel”) and
Sumitomo Corporation (“Sumitomo”), have completed a definitive
feasibility study to establish the financial viability of a
manganese alloy smelting facility in Sarawak State, Malaysia.

Assmang is pursuing this initiative to maintain its existing
alloy customers and to access growing Asian markets, by
leveraging the long term availability of reasonably priced hydro
power with guaranteed low escalation rates in the region. To
enhance Assmang’s returns from the project, it will sell
manganese ore to the new joint venture.

China Steel has approved an investment of USD62.46 million to
acquire a 19% interest, which is linked to the right to purchase
30 000 – 32 000 tonnes of alloys per annum from the project.
This approval is subject to Taiwanese government approval.
Sumitomo has secured board approval for the project and is
pursuing the necessary regulatory approvals.

The   boards  of   directors  of   both  Assore  and ARM have
conditionally approved the project and anticipate commencing
construction during Q1 2014. Commissioning of furnaces would
take place in 2016. The project is designed to have a full
production capacity of 169 000 tonnes per annum.

ENDS

For more information please contact:

Jongisa Klaas
Corporate Development and Head of Investor Relations
Tel:    +27 11 779 1507
E-mail: jongisa.klaas@arm.co.za

Johannesburg
19 June 2013

Issued by sponsor: Deutsche Securities (SA) Proprietary
Limited

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