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KIO
KIO
KIO - Kumba Iron Ore Limited - Proceedings in relation to The Residual Sishen
Mine Mineral 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")
PROCEEDINGS IN RELATION TO THE RESIDUAL SISHEN MINE MINERAL RIGHTS
Shareholders were previously advised that, as a result of the failure by
ArcelorMittal South Africa Limited ("Mittal") to convert its former old order
mining right in relation to a 21,4% undivided interest in the Sishen Mine, its
old order mining right had lapsed. Accordingly, Sishen Iron Ore Company
(Proprietary) Limited ("SIOC"), which mines the Sishen Mine, applied for a
mining right in relation to the residual undivided 21.4% rights in respect of
the Sishen Mine.
SIOC was informed, during February 2010, that the Department of Mineral
Resources ("DMR") had granted a prospecting right on 30 November 2009 to
Imperial Crown Trading 289 (Proprietary) Limited ("Imperial Crown Trading") in
relation to the residual undivided 21.4% of the Sishen Mine. On 1 March 2010
SIOC lodged an appeal with the DMR against the decision to grant the prospecting
right to Imperial Crown Trading.
Shareholders were advised on 24 May 2010 that SIOC had initiated a review
application in the North Gauteng High Court on 21 May 2010 in relation to the
decision of the DMR to grant a prospecting right to Imperial Crown Trading.
SIOC has now been informed by the Minister of Mineral Resources ("the Minister")
that she has decided to uphold the decision of the Deputy Director General to
grant the application for a prospecting right to Imperial Crown Trading and that
SIOC`s appeal against the grant of the prospecting right to Imperial Crown
Trading has not been upheld.
SIOC remains firmly of the view that the review proceedings which it has
instituted in relation to the decision of the DMR to grant a prospecting right
to Imperial Crown Trading are justified.
SIOC will file its supplementary founding affidavit in the review proceedings
during the week commencing 23 August 2010 and it is anticipated that the
respondents will file their answering affidavits during the course of September
2010.
18 August 2010
Pretoria
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 18/08/2010 08:00:03 Produced by the JSE SENS Department.
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