EQSTRA HOLDINGS LIMITED - Status of the Benga Project in Mozambique

Status of the Benga Project in Mozambique

Eqstra Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/011672/06)
Share code: EQS, EQS1, EQS2, EQS4
ISIN: ZAE000117123
(“Eqstra”)

STATUS OF THE BENGA PROJECT IN MOZAMBIQUE

On 21 February 2013 Eqstra informed the market that Rio Tinto Benga
Limitada ("Rio Tinto") issued a notice of force majeure suspending
operations at the Benga mine as from midnight 20 February 2013. The
suspension of services was due to the flood damage to the Sena
railway line, which prevented the transport of coal to the port of
Beira.

Eqstra is of the view that the flood damage to the Sena railway line
does not constitute a force majeure event in terms of its opencast
mining contract with Rio Tinto. We have now agreed to terms and
conditions for the compensation of certain costs for the two week
period from midnight 20 February 2013 to 6 March 2013.

The Sena railway line has subsequently been re-opened and Eqstra is
working with Rio Tinto to recommence mining operations as soon as
possible.

Kempton Park
6 March 2013

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
 

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