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PALABORA MINING COMPANY LIMITED - Announcement pertaining to the implementation of Palabora's Broad-Based Black Economic Empowerment Transaction

Release Date: 01/08/2013 17:40
Code(s): PAM     PDF:  
Wrap Text
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

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