Further update on the Vlaklaagte and Elandspruit transaction WESCOAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2005/006913/06) JSE Share code: WSL & ISIN: ZAE000069639 ("Wescoal" or "the Company") FURTHER UPDATE ON THE VLAKLAAGTE AND ELANDSPRUIT TRANSACTIONS Shareholders are referred to the announcements released on SENS on 31 July 2012, 3 September 2012, 5 October 2012, 8 November 2012, 21 December 2012, 14 February 2013 and 26 February 2013 and 6 May 2013 ("Previous Announcements") and the circular dated 15 January 2013 ("Circular") relating to the Vlaklaagte Acquisition, the Vlaklaagte Disposal and the Elandspruit Acquisition (“the Transactions”). Capitalised terms used and not otherwise herein defined, shall have the meanings ascribed thereto in the Previous Announcements. Shareholders are advised that the following conditions precedent to the Vlaklaagte Disposal have been timeously waived or fulfilled, namely: The Vlaklaagte Mining Right being granted to Wescoal Mining in accordance with the MPRDA. Xstrata has agreed to accept the granting of the Vlaklaagte Mining Right to Wescoal Exploration, in substitution for the grant thereof to Wescoal Mining and has waived the aforementioned Condition Precedent. Wescoal Mining obtaining Ministerial consent for the transfer of the Vlaklaagte Mining Right to Xstrata in terms of section 11 of the MPRDA. This Condition Precedent has been satisfied. Shareholders are reminded that the effective date of the transaction is 31 July 2013 and will be advised when the remaining conditions precedent to the transactions have been met. Corporate adviser & Sponsor to Wescoal Legal Advisers to Wescoal Exchange Sponsors KWA Attorneys Legal Advisers to Xstrata Baker & McKenzie Johannesburg 31 May 2013 Date: 31/05/2013 09:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.