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KIO - Kumba Iron Ore Limited - High Court decision in relation to the

Release Date: 15/12/2011 15:02
Code(s): KIO
Wrap Text

KIO - Kumba Iron Ore Limited - High Court decision in relation to the residual Sishen Mine Mineral 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") HIGH COURT DECISION IN RELATION TO THE RESIDUAL SISHEN MINE MINERAL RIGHTS The North Gauteng High Court handed down its order today in relation to the residual Sishen mining rights. In terms of its order, the High Court ruled that when the Department of Mineral Resources effected a conversion of Sishen Iron Ore Company (Pty) Ltd`s ("SIOC") old order mining right in 2008, SIOC was granted the exclusive right to mine at the Sishen Mine. The Court indicated that it reached this conclusion by interpreting the content of the mining right which was granted to SIOC. The Court held that no other party may be granted the right to mine iron ore or quartzite at the Sishen Mine. The Court also reviewed and set aside the grant of the prospecting right to Imperial Crown Trading 289 (Pty) Ltd. The detailed reasons for the judgement will be handed down next week. SIOC will consider the Court`s decision once it receives the detailed judgment and will inform shareholders in the event that any further steps are required to be taken in this regard. The High Court order does not affect the interim supply agreement between AMSA and SIOC, which will endure until 31 July 2012. As previously advised, AMSA and SIOC have agreed to delay the arbitration proceedings in relation to the Sishen Supply Agreement until the final resolution of the mining rights dispute. Pretoria For further information please contact: Anne Dunn Tel.: +27 (0)11 502 7404 / +27 (0)82 448 2684 15 December 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 15/12/2011 15:02:00 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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