PALABORA MINING COMPANY LIMITED - Trading statement

Trading statement

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”)

TRADING STATEMENT

In accordance with paragraph 3.4(b) of the JSE Limited Listings Requirements,
shareholders are advised that Palabora’s earnings for the year ended 31 December
2012 will be as follows:

   •   Earnings before interest, tax, depreciation and amortisation (EBITDA) R413
       million or 855 cents per share;

   •   Basic loss R97 million or 201 cents per share;

   •   Headline loss R82 million or 171 cents per share

   •   Cash and cash equivalents R1,980 million.

The above guidance compares with EBITDA of R2 432 million (5 031 cents per
share), basic earnings of R1 464 million (3 028 cents per share) and headline
earnings of R1 468 million (3 036 cents per share) for the comparative previous year.
The reported operating earnings for the year to 31 December 2011 was R1 800
million. This has been adjusted to arrive at the EBITDA of R2 432 million by including
the depreciation and amortisation expense of R632 million.

EBITDA is operating income excluding finance costs, foreign exchange gains and
losses, income tax expenses and depreciation and amortisation.

Cash and cash equivalents and net cash were R2 210 million at 31 December 2011.

Shareholders are advised that the information contained in this Trading Statement
has not been reviewed and/or reported on by the external auditors of the Company. It
is anticipated that the results for the year ended 31 December 2012 will be published
on or about 12 February 2013.


Phalaborwa
08 February 2013

Sponsor: One Capital

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