PALABORA MINING COMPANY LIMITED - Underground mine sit-in and strike ends at Palabora

Underground mine sit-in and strike ends at Palabora

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”)

Underground mine sit-in and strike ends at Palabora

Palabora is grateful to advise that after significant discussions the employees who
participated in a sit-in and unlawful strike for the last seven days returned to surface at
midnight on Wednesday, 20 March 2013. Each one was assessed at the local Medical
Clinic prior to being allowed to return home to their families.

Anthony Lennox, Managing Director of Palabora, said: “We are pleased that the striking
employees came to surface without any injury whatsoever or through the use of force.”

The action started at Palabora underground mine on Wednesday, 13 March 2013 and
involved mining people striking both in the underground and at the shafts on surface.
Pleasingly production in other divisions of the business continued safely and without
interruption during this period. “I am very grateful to our employees who kept all other
sections of our business running during this challenging time. They carried out their tasks
without any indication of difficulty and ensured that we were able to keep magnetite,
copper and vermiculite supplies moving through to our customers,” said Lennox.

During the last few days, the Company has worked collaboratively with the Department of
Mineral Resources, the National Union of Mineworkers (NUM), the South African Police
Service and the Chamber of Mines to achieve this result. “We would like to thank them in
assisting us to achieve this peaceful outcome,” said Lennox.

The Company recognises that there are differing points of views on this event, and that
many people were caught up in it. The Company has discussed these matters with NUM
to establish how to address them going forward.

Palabora will now commence an extensive safety inspection of the underground mine to
ensure that it is restarted without incident. The mine will also need to check that all
equipment is in working order prior to a controlled start-up. At this stage, it is envisaged
that normal underground operations will recommence during the course of the weekend.

Further details on the impact of the unlawful strike will be provided at a later stage.



Phalaborwa
22 March 2013

Sponsor
One Capital

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