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KIO - Kumba Iron Ore Limited - Settlement of arbitration relating to the Faleme

Release Date: 06/08/2010 14:00
Code(s): KIO
Wrap Text

KIO - Kumba Iron Ore Limited - Settlement of arbitration relating to the Faleme Iron Ore project in Senegal 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 ISN: ZAE000085346 ("Kumba") SHAREHOLDER UPDATE SETTLEMENT OF ARBITRATION RELATING TO THE FALEME IRON ORE PROJECT IN SENEGAL It has previously been announced that a subsidiary of Kumba Iron Limited, Kumba International B.V ("KIBV") initiated arbitration proceedings against La Society des Mines De Fer Du Senegal Oriental ("Miferso") and the Republic of Senegal under the rules of the Arbitration of the International Chamber of Commerce in 2007, in relation to the Faleme Project. The arbitration proceedings are confidential in nature. However, the parties are pleased to announce that following the arbitration award rendered in July, a mutually agreed settlement agreement has been concluded between the parties. The parties have agreed that the precise terms of the settlement agreement will remain confidential. In reaching this settlement agreement, Kumba has taken into consideration the interests of the people of Senegal. A significant portion of the amount recovered by KIBV will be committed over a five year period to social and community development projects to benefit the population of Senegal. The Republic of Senegal highly appreciates this valuable contribution for the country. For further information please contact: Tebello Chabana: +27 12 683 7067 Pretoria 06 August 2010 Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 06/08/2010 14:00:02 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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