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MERAFE RESOURCES LIMITED - Eskom buy-back agreement

Release Date: 12/12/2012 14:23
Code(s): MRF     PDF:  
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Eskom buy-back agreement

Merafe Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003452/06)
JSE share code: MRF
ISIN: ZAE000060000
(“Merafe” or “the Company”)

Eskom buy-back agreement

Shareholders of the Company are advised that the Xstrata-Merafe Chrome Venture (“the
Venture”) has agreed to participate in Eskom’s electricity buy-back programme and as a
result will be temporarily closing five of its twenty furnaces at various plants in the group
from 1 January 2013 until 31 March 2013. In return, Eskom will buy-back the energy not
consumed by these furnaces. The ferrochrome production loss to the Venture is estimated to
be 100,000 tonnes. This arrangement will be mutually beneficial to Eskom and the Venture
and will not result in job losses at these furnaces.

Sandton

12 December 2012

Sponsor

Merrill Lynch South Africa Proprietary Limited

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