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KIO - Kumba - Sishen Mining Rights

Release Date: 17/03/2010 16:11
Code(s): KIO
Wrap Text

KIO - Kumba - Sishen Mining Rights Kumba Iron Ore Limited A member of the Anglo American plc group Incorporated in the Republic of South Africa) Registration number 2005/015852/06) JSE Share code: KIO ISIN: ZAE000085346 ("Kumba") SISHEN MINING RIGHTS On 26 February 2010, Kumba issued an announcement indicating that its subsidiary, the Sishen Iron Ore Company (Pty) Ltd ("SIOC"), had notified ArcelorMittal South Africa Limited ("Mittal") on 5 February 2010, that Mittal had failed to convert its 21.4% undivided share in the old order mining rights which it held in relation to the Sishen mine in terms of the Mineral and Petroleum Resources Development Act ("MPRDA"). SIOC, however, tendered to supply iron ore to Mittal on commercial terms. While SIOC has applied for the residual 21.4% mining right previously held by Mittal, it should be noted that a prospecting right over the 21.4% interest has been granted by the Department of Mineral Resources to a third party. SIOC has lodged an appeal against the grant of the prospecting right and Kumba is currently engaged in discussions with the Department of Mineral Resources in relation to the 21.4% residual right in respect of the Sishen mine. For further information please contact: Anne Dunn Tel.: +27 (0)11 5027300 17 March 2010 Pretoria Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 17/03/2010 16:11:17 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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