KIO
KIO
KIO - Kumba - Sishen Mining Rights
Kumba Iron Ore Limited
A member of the Anglo American plc group
Incorporated in the Republic of South Africa)
Registration number 2005/015852/06)
JSE Share code: KIO
ISIN: ZAE000085346
("Kumba")
SISHEN MINING RIGHTS
On 26 February 2010, Kumba issued an announcement indicating that its
subsidiary, the Sishen Iron Ore Company (Pty) Ltd ("SIOC"), had notified
ArcelorMittal South Africa Limited ("Mittal") on 5 February 2010, that Mittal
had failed to convert its 21.4% undivided share in the old order mining rights
which it held in relation to the Sishen mine in terms of the Mineral and
Petroleum Resources Development Act ("MPRDA"). SIOC, however, tendered to
supply iron ore to Mittal on commercial terms.
While SIOC has applied for the residual 21.4% mining right previously held by
Mittal, it should be noted that a prospecting right over the 21.4% interest has
been granted by the Department of Mineral Resources to a third party. SIOC has
lodged an appeal against the grant of the prospecting right and Kumba is
currently engaged in discussions with the Department of Mineral Resources in
relation to the 21.4% residual right in respect of the Sishen mine.
For further information please contact:
Anne Dunn
Tel.: +27 (0)11 5027300
17 March 2010
Pretoria
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 17/03/2010 16:11:17 Produced by the JSE SENS Department.
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