Announcement pertaining to the implementation of Palabora's Broad-Based Black Economic Empowerment Transaction PALABORA MINING COMPANY LIMITED (Incorporated in the Republic of South Africa) Registration number – 1956/002134/06 JSE Code: PAM ISIN: ZAE000005245 ("Palabora") ANNOUNCEMENT PERTAINING TO THE IMPLEMENTATION OF PALABORA'S BROAD- BASED BLACK ECONOMIC EMPOWERMENT TRANSACTION ("BBBEE TRANSACTION") Shareholders of Palabora ("Shareholders") are referred to the announcement regarding the BBBEE Transaction published on the Stock Exchange News Service of the JSE Limited on 18 July 2013, wherein Palabora announced that the BBBEE Transaction had become unconditional and would, in accordance with its terms, therefore be implemented on 1 August 2013. Palabora is pleased to announce that the BBBEE Transaction was successfully implemented on 1 August 2013. As previously advised, Palabora's remaining old order mining right, which has not yet been converted into a new order mining right, will be transferred to Palabora Copper Proprietary Limited ("Palabora Copper") once it has been converted and the requisite consent for its transfer to Palabora Copper has been provided by the Department of Mineral Resources ("DMR"). Palabora continues to engage with the DMR in order to procure the conversion of this right and its transfer to Palabora Copper. Palabora will keep Shareholders apprised of developments in this regard. Phalaborwa 1 August 2013 Sponsor One Capital Date: 01/08/2013 05:40:00 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.