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EXXARO RESOURCES LIMITED - EXX: Update on Exxaro's Disposal Of Its 24.4% Stake In Black Mountain Mining.

Release Date: 09/10/2020 15:47
Code(s): EXX     PDF:  
Wrap Text
EXX: Update on Exxaro's Disposal Of Its 24.4% Stake In Black Mountain Mining.

EXXARO RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ISIN: ZAE000084992
ADR code: EXXAY
(“Exxaro” or the “Company”)


UPDATE ON EXXARO’S DISPOSAL OF ITS 24.4% STAKE IN BLACK MOUNTAIN
MINING


Diversified South African-based resources group Exxaro Resources Limited (“Exxaro”),
based on a strategic review of its portfolio of assets, previously concluded that zinc
mining was not strategically aligned to the group’s long-term objectives. Exxaro therefore
initiated a sales process for the disposal of its 24.4% interest in Black Mountain Mining
Proprietary Limited (“BMM”). Recent media reports suggested that the sales process has
now been finalised (“transaction”).

Exxaro wishes to clarify that negotiations are at an advanced stage, but that no
transaction has been concluded to date and Exxaro will apprise the market as soon as a
transaction has been concluded.

Editor’s Note:

Exxaro is one of the largest South African-based diversified resources groups, with
interests in coal, mineral sands, iron ore and energy markets. www.exxaro.com


9 October 2020

SE Van Loggerenberg
Group Company Secretary & Legal
Pretoria

Sponsor to Exxaro Resources Limited
Absa Corporate and Investment Bank, a division of Absa Bank Limited

Date: 09-10-2020 03:47:00
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