LON - Lonmin Plc - Clarification of Lonmin`s rights to dispose of associated
LON
LOLMI
LON - Lonmin Plc - Clarification of Lonmin`s rights to dispose of associated
minerals
Lonmin Plc (Incorporated in England and Wales)
(Registered in the Republic of South Africa under registration number
1969/000015/10)
JSE code: LON
Issuer Code: LOLMI & ISIN: GB0031192486 ("Lonmin")
11 August 2010
Lonmin Plc
Clarification of Lonmin`s rights to dispose of associated minerals
Further to its announcement dated 5 August, Lonmin Plc ("Lonmin") is pleased to
announce that it has received confirmation in writing today from the Department
of Mineral Resources of the Government of South Africa ("DMR") which rescinds
with immediate effect its instruction, dated 3 August, requiring Lonmin to
refrain from selling Nickel, Copper, Chrome and any other minerals (`associated
minerals`) other than Platinum Group Metals. The Company will notify its
customers that deliveries of associated minerals will recommence immediately.
The DMR has further confirmed that all of Lonmin`s Section 102 applications have
been approved, thereby clarifying Lonmin`s right to mine and dispose of
associated minerals at all its properties other than the small area which is
subject to the prospecting right issued to Keysha Investments 220 (Pty) Ltd
("Keysha"), a Holgoun group company.
Lonmin would like to thank the DMR for its cooperation in expediting the
approval of these Section 102 applications.
The disputed prospecting right granted to Keysha covers a small area of Lonmin
property where only UG2 is currently mined. Sales of associated minerals from
this area amounted to approximately US$11 million in 2009. Lonmin appealed
against both the acceptance of the application in March 2009 and against the
award of the right in June 2010. Lonmin remains entitled to mine and dispose of
the associated minerals mined from this area.
ENDS
ENQUIRIES:
Cardew Group +44 (0) 207 930 0777
Rupert Pittman / Jamie Milton
Financial Dynamics +27 (0) 21 487 9000
Dani Cohen / Ravin Maharaj
Date: 11/08/2010 17:35:08 Produced by the JSE SENS Department.
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