KIO - Kumba Iron Ore Limited - Settlement of arbitration relating to the Faleme
KIO
KIO
KIO - Kumba Iron Ore Limited - Settlement of arbitration relating to the Faleme
Iron Ore project in Senegal
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
ISN: ZAE000085346
("Kumba")
SHAREHOLDER UPDATE
SETTLEMENT OF ARBITRATION RELATING TO THE FALEME IRON ORE PROJECT IN SENEGAL
It has previously been announced that a subsidiary of Kumba Iron Limited, Kumba
International B.V ("KIBV") initiated arbitration proceedings against La Society
des Mines De Fer Du Senegal Oriental ("Miferso") and the Republic of Senegal
under the rules of the Arbitration of the International Chamber of Commerce in
2007, in relation to the Faleme Project.
The arbitration proceedings are confidential in nature. However, the parties are
pleased to announce that following the arbitration award rendered in July, a
mutually agreed settlement agreement has been concluded between the parties.
The parties have agreed that the precise terms of the settlement agreement will
remain confidential.
In reaching this settlement agreement, Kumba has taken into consideration the
interests of the people of Senegal. A significant portion of the amount
recovered by KIBV will be committed over a five year period to social and
community development projects to benefit the population of Senegal.
The Republic of Senegal highly appreciates this valuable contribution for the
country.
For further information please contact:
Tebello Chabana: +27 12 683 7067
Pretoria
06 August 2010
Sponsor:
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 06/08/2010 14:00:02 Produced by the JSE SENS Department.
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