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AFRICAN RAINBOW MINERALS LIMITED - ARM and Assore reach an in principle agreement on ARM's disposal of its 50% effective interest in the Dwarsrivier

Release Date: 27/02/2015 16:58
Code(s): ARI     PDF:  
Wrap Text
ARM and Assore reach an in principle agreement on ARM's disposal of its 50% effective interest in the Dwarsrivier

African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
(“ARM” or "the Company")


AFRICAN RAINBOW MINERALS LIMITED (ARM) AND ASSORE LIMITED (ASSORE)
REACH AN IN PRINCIPLE AGREEMENT ON ARM’S DISPOSAL OF ITS 50% EFFECTIVE
INTEREST IN THE DWARSRIVIER CHROME MINE TO ASSORE


ARM and Assore have reached an in principle agreement on ARM’s disposal of its effective
50% interest in the Dwarsrivier Chrome Mine (“Dwarsrivier”) to Assore (the “Transaction”).

Dwarsrivier is currently an operation of Assmang Proprietary Limited (“Assmang”) which is
jointly owned by ARM and Assore.

Pursuant to the implementation of the Transaction, Assore will own an effective 100% interest in
Dwarsrivier.

The implementation of the Transaction is subject to the execution of definitive agreements and
the receipt of relevant regulatory approvals.

The ARM Board of Directors has approved the disposal of Dwarsrivier as primary chrome ore
production does not form part of ARM’s future commodity portfolio.

The Transaction is not a categorised transaction in terms of the JSE Limited Listings
Requirements.


ENDS


For all related queries please contact:


Jan Steenkamp
Chief Executive of Strategic Services and Exploration
Office: +27 11 779 1000
Email: jan.steenkamp@arm.co.za

Sandton
27 February 2015

Sponsor:
Deutsche Securities (SA) Proprietary Limited

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