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UPDATE ON THE PRODUCTION SHAFT GUIDE ROPE
PALABORA MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
Registration number – 1956/002134/06
JSE Code: PAM ISIN: ZAE000005245
(“Palabora” or “the Company”)
UPDATE ON THE PRODUCTION SHAFT GUIDE ROPE
Palabora is pleased to advise shareholders that the recommencement of ore hoisting
occurred on the 9th of September 2012 and this is ahead of the time frame previously stated.
The Company is pleased to advise that the shaft is running at design capacity.
The restoration work has been carried out without a single injury and progressed better than
planned with the assistance of specialist South African contractors and international
expertise. In addition, magnetite shipments have continued at planned levels and significant
maintenance projects have been completed in the plant which would not have been able to be
undertaken during normal operations. Cash reserves have also been maintained despite the
production interruption and discussions are progressing with the Company’s insurance
providers.
The investigation into how the rope failure came about has been concluded and the Company
is in the process of forwarding the findings to the Department of Mineral Resources.
Phalaborwa
11 September 2012
Sponsor
One Capital
For further information, please contact:
Dikeledi Nakene, CFO
Office: +27 (0) 15 780 2277
Date: 11/09/2012 08:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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