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EXX - Exxaro Resources Limited - Exxaro completes disposal of its interest in Rosh Pinah Exxaro Resources Limited (Incorporated in the Republic of South Africa) (Registration number 2000/011076/06) JSE Code: EXX ISIN: ZAE000084992 ("Exxaro") EXXARO COMPLETES DISPOSAL OF ITS INTEREST IN ROSH PINAH Shareholders are advised that Exxaro Resources Limited ("Exxaro"), through its wholly-owned subsidiary Exxaro Base Metals and Industrial Minerals Holdings (Proprietary) Limited, has completed the disposal of its entire 50,04% shareholding in, and claims against, Rosh Pinah Zinc Corporation (Proprietary) Limited ("Rosh Pinah") to wholly-owned subsidiaries of Glencore International plc ("Glencore") (the "transaction".) The selling price is R931 million which is subject to final adjustment for net debt and working capital changes. The effective date of the transaction is 1 June 2012. Sipho Nkosi, Exxaro`s chief executive officer, commented, "The divestment of Exxaro`s interest in Rosh Pinah forms part of our strategic plan to divest from our zinc assets, a decision made in the context of the difficult conditions of the zinc market, including its cyclical nature, low margins, the significant impact of the exchange rate and higher electricity costs. "The completion of the transaction to a large extent concludes our divestment plan," added Nkosi. Production of zinc at the group`s Zincor operation ceased in December 2011. Future applications for the Gauteng operation are being investigated. The Rosh Pinah mine is situated in south-western Namibia, 800km south of Windhoek. The underground operation produced 89 000 tonnes of zinc concentrate and 16 000 tonnes of lead concentrate during 2011. Exxaro continues to hold 26% of Black Mountain, which owns the Black Mountain zinc and lead mine and the Gamsberg zinc project in the Northern Cape, as well as an effective 22% interest in the Chifeng zinc smelter in China. The group continues to seek appropriate buyers for these assets. For enquiries: Wim de Klerk Finance Director Tel: + 27 12 307 4848 Mobile: +27 82 652 5145 Email: wim.deklerk@exxaro.com 11 June 2012 Pretoria Corporate Advisor and Transaction Sponsor to Exxaro Merrill Lynch South Africa (Proprietary) Limited Sponsor to Exxaro Deutsche Securities (SA) (Proprietary) Limited Legal Advisors to Exxaro CLS Consulting Services (Proprietary) Limited Legal Advisors to Glencore Werksmans Attorneys Date: 11/06/2012 08:05:01 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.
