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Labour disruption update
FORBES AND MANHATTAN COAL CORP
(Registration number: 002116278)
(External company registration number: 2011/011661/10)
Share code on the Toronto Stock Exchange: FMC
Share code on the JSE Limited: FMC
ISIN: CA3451171050
(“Forbes Coal”)
LABOUR DISRUPTION UPDATE
TORONTO, ONTARIO – October 31, 2012: Forbes and Manhattan Coal Corp. (TSX: FMC)
(JSE: FMC) reports that as at October 31, 2012, the strike action at its Magdalena and
Aviemore underground mines as previously reported continues, and that negotiations between
Forbes Coal management and unions representing employees are ongoing.
We regret to advise that in a tragic incident related to the labour disruption at the Forbes Coal
mines, there has been a fatality of a Forbes Coal employee, with another employee seriously
injured.
Commenting on the situation, Mr. Stephan Theron, President and Chief Executive Officer of
Forbes Coal said, "In order to ensure the safety of all our employees and to safeguard our
assets, we have taken a decision to suspend all operations until such time as deemed safe and
appropriate by management and the board. Our thoughts and sincere condolences are with the
family of the deceased employee. The company is committed to the process of responsible
discussions to resolve the situation."
About Forbes Coal
Forbes Coal is a growing coal producer in southern Africa. It holds a majority interest in two
operating mines through its 100% interest in Forbes Coal (Pty) Ltd., a South African company
("Forbes Coal Dundee") which has a 70% interest in Zinoju Coal (Pty) Ltd. ("Zinoju"). Zinoju
holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine in
South Africa (collectively, “the Forbes Coal Dundee Properties”). The mines have a substantial
resource base and each mine has a projected life span in excess of 20 years. Forbes Coal is in
the process of increasing production at both mines using existing infrastructure and capacity.
The Company has in-place transportation infrastructure allowing its coal to reach both export
corridors and the growing domestic coal market. Forbes Coal has a strong balance sheet and
an experienced coal-focused management team.
Cautionary Notes:
The ability of the Company to increase production amounts has not been the subject of a feasibility study
and there is no certainty that the proposed expansion will be economically feasible.
This press release contains “forward-looking information” within the meaning of applicable Canadian
securities legislation. Forward-looking information includes, but is not limited to, statements with respect
to the strikes at its mine sites; anticipated production results with respect to the Forbes Coal Dundee
Properties, future financial or operating performance of the Company and its projects, statements
regarding the anticipated improvements in logistical support and anticipated improvements in sales,
statements made with respect to prospects for the business of the Company, requirements for additional
capital, government regulation of the mineral exploration industry, environmental risks, acquisition of
mining licences, title disputes or claims, limitations of insurance coverage and the timing and possible
outcome of pending litigation and regulatory matters. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”,
or “believes”, or variations of such words and phrases or state that certain actions, events or results
“may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including but not limited to: general business,
economic, competitive, foreign operations, political and social uncertainties; a history of operating losses;
delay or failure to receive board or regulatory approvals; timing and availability of external financing on
acceptable terms; not realizing on the potential benefits of the proposed transaction; conclusions of
economic evaluations; changes in project parameters as plans continue to be refined; future prices of
mineral products; failure of plant, equipment or processes to operate as anticipated; accidents, labour
disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or
required financing or in the completion of activities. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from those contained in forward-
looking information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forwardlooking information. The Company does not undertake to
update any forward-looking information, except in accordance with applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Stephan Theron Samantha Thomson
President and Chief Executive Officer Investor Relations Manager
+1 (416) 861-5912 +1 (416) 309-2957
Email: stheron@forbescoal.com Email: sthomson@forbescoal.com
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 31/10/2012 05:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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