AFRICAN RAINBOW MINERALS LIMITED - Force Majeure notification received from Anglo American Platinum Limited

Force Majeure notification received from Anglo American Platinum Limited

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”)

FORCE MAJEURE NOTIFICATION RECEIVED FROM ANGLO AMERICAN
PLATINUM LIMITED (AMPLATS) WITH RESPECT TO MODIKWA MINE
PURCHASE OF CONCENTRATE AGREEMENT

ARM refers to the announcement by Amplats on Friday, 6 March
2020 regarding temporary shutdown of its converter plant.

ARM confirms that its subsidiary, ARM Mining Consortium
Limited (ARM MC), has received written notification of force
majeure from Rustenburg Platinum Mines Limited (RPM) in terms
of the purchase of concentrate agreement between ARM MC and
RPM. ARM MC holds 50% of Modikwa Mine while the remaining 50%
is held by RPM, a subsidiary of Amplats.

RPM indicated that it will not be able to complete the
processing of concentrate produced at Modikwa Mine until
repair work to the Anglo Converter Plant (ACP) Phase B is
complete. According to Amplats, repair work on ACP Phase B is
expected to take approximately 80 days to complete.

ARM MC will continue to deliver concentrate produced at
Modikwa Mine to RPM.

ARM MC is engaging with RPM to mitigate any negative impact
on cash flow due to possible payment delays.

ENDS

For all investor relations queries please contact:
Jongisa Magagula
Executive Director: Investor Relations     and   New   Business
Development
Tel:      +27 11 779 1507
E-mail:   jongisa.magagula@arm.co.za

Johannesburg
11 March 2020

Sponsor: Investec Bank Limited




                                                                  

Date: 11-03-2020 04:49:00
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