MRF - Merafe Resources Limited - Re: Lonmin plc announcement on 5 August 2010
MRF
MRF
MRF - Merafe Resources Limited - Re: Lonmin plc announcement on 5 August 2010
Merafe Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003452/06)
JSE share code: MRF
ISIN: ZAE000060000
("Merafe")
Re: Lonmin plc announcement on 5 August 2010
Shareholders are referred to the announcement released by Lonmin plc ("Lonmin")
on 5th August 2010 regarding the letter they received from the Department of
Mineral Resources which contained an order refraining Lonmin from selling any
associated minerals, including Chrome, other than Platinum Group Metals with
immediate effect.
The Xstrata-Merafe Chrome Venture("the Venture") currently purchases chromite
ore concentrate from Lonmin and it was announced on 2 March 2010 that the
Venture had signed a contract with Lonmin for the construction of a chrome
recovery plant to treat the current tailings from UG2 concentrators at Lonmin`s
Marikana operations. The purchase of the chromite concentrate produced by the
chrome recovery plant is only expected to commence in 2011.
The Venture has sufficient flexibility and adequacy of ore sources to mitigate
any impact in the short to medium term and the Venture will review its longer
term sourcing strategy only once there is clarity on the outcome of this matter.
The decision to go ahead with the construction of the recently announced Project
Tswelopele will not be affected.
A further announcement will be made once finalisation on this matter has been
reached
Sandton
6 August 2010
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 06/08/2010 09:02:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
