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LON - Lonmin Plc - Clarification of Lonmin`s rights to dispose of associated

Release Date: 11/08/2010 17:35
Code(s): LON
Wrap Text

LON - Lonmin Plc - Clarification of Lonmin`s rights to dispose of associated minerals Lonmin Plc (Incorporated in England and Wales) (Registered in the Republic of South Africa under registration number 1969/000015/10) JSE code: LON Issuer Code: LOLMI & ISIN: GB0031192486 ("Lonmin") 11 August 2010 Lonmin Plc Clarification of Lonmin`s rights to dispose of associated minerals Further to its announcement dated 5 August, Lonmin Plc ("Lonmin") is pleased to announce that it has received confirmation in writing today from the Department of Mineral Resources of the Government of South Africa ("DMR") which rescinds with immediate effect its instruction, dated 3 August, requiring Lonmin to refrain from selling Nickel, Copper, Chrome and any other minerals (`associated minerals`) other than Platinum Group Metals. The Company will notify its customers that deliveries of associated minerals will recommence immediately. The DMR has further confirmed that all of Lonmin`s Section 102 applications have been approved, thereby clarifying Lonmin`s right to mine and dispose of associated minerals at all its properties other than the small area which is subject to the prospecting right issued to Keysha Investments 220 (Pty) Ltd ("Keysha"), a Holgoun group company. Lonmin would like to thank the DMR for its cooperation in expediting the approval of these Section 102 applications. The disputed prospecting right granted to Keysha covers a small area of Lonmin property where only UG2 is currently mined. Sales of associated minerals from this area amounted to approximately US$11 million in 2009. Lonmin appealed against both the acceptance of the application in March 2009 and against the award of the right in June 2010. Lonmin remains entitled to mine and dispose of the associated minerals mined from this area. ENDS ENQUIRIES: Cardew Group +44 (0) 207 930 0777 Rupert Pittman / Jamie Milton Financial Dynamics +27 (0) 21 487 9000 Dani Cohen / Ravin Maharaj Date: 11/08/2010 17:35:08 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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