| Mon 2 Jun 2008, 17:45 | | SAH - SACMH - Changes to the SACMH board and to certain contracting arrangements |
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SAH
SAH
SAH - SACMH - Changes to the SACMH board and to certain contracting arrangements
South African Coal Mining Holdings Limited
Registration number 1994/009012/06
Share code: SAH
ISIN: ZAE000102034
("SACMH" or "the company")
Changes to the SACMH board and to certain contracting arrangements
Changes to the SACMH board
SACMH is pleased to announce the appointment of Ms Melanie Steyn to the SACMH
board as an executive director, effective 2 June 2008. She has been Group
Marketing Executive of the company for the past year.
Mr Peter Swanepoel has resigned as operations director of the boards of SACMH
and its relevant subsidiaries with immediate effect in order to pursue other
interests. The SACMH board thanks Peter for his contribution to the company and
wishes him well in his future endeavours. Mr Nic van Deventer, who has more than
35 years of mining operational experience, is assisting SACMH in a consulting
capacity in relation to technical issues and fulfilling the legal mining
appointment. The company is in the process of recruiting a new operations
director.
Changes to certain contracting arrangements
Further to the SACMH announcement of 16 November 2007, Fraser Alexander (Pty)
Ltd ("Fraser Alexander") has taken over the contract between Mkhulu Resources
(Pty) Ltd ("Mkhulu") and SACMH relating to all bulk materials handling and
beneficiation of coal on all SACMH operations, effective 2 June 2008.
Fraser Alexander will provide an integrated service including the transportation
of coal from the conveyor tip and/or the pit head, the washing, processing and
sizing of coal product, transport via conveyor to siding, operational aspects of
siding management and other bulk materials handling functions. In addition,
Fraser Alexander will project-manage SACMH`s envisaged expansion initiatives.
Mkhulu will remain the mining contractor for SACMH, responsible for all
operations from the coal face to the conveyor tip for underground sections, and
from the pit bottom to pit head for open-pit mining sections. In terms of this
arrangement, Mkhulu will be permitted to enter into mining contracts with other
coal producers.
Mining related costs are not expected to change, with the exception that the
SACMH group will be supplying roof support material to the mine - previously,
roof support material was supplied by Mkhulu. Bulk materials handling and
beneficiation fees payable to Fraser Alexander will be based on cost plus a
management fee for an initial period of 6 -12 months, subject to renegotiation
thereafter. It is anticipated that such costs will not be materially different
to the previous arrangement with Mkhulu.
Karl Gribnitz, CEO of SACMH said: "I welcome Melanie to the board and thank
Peter for his valuable contribution. We are delighted that Peter Swanepoel will
continue to have an involvement with the company through Mkhulu. The cementing
of SACMH`s relationship with Fraser Alexander, a leading materials handling and
beneficiation services provider, further strengthens our position as we
implement our envisaged expansion programme and future growth opportunities".
Mirkwood
2 June 2008
Sponsor : QuestCo Sponsors
Enquiries:
Melanie Steyn, Group Marketing Executive, SACMH : 011 748 2800
Nicholas Williams, College Hill : 011 447 3030
Date: 02/06/2008 17:45:01 Produced by the JSE SENS Department.
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