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PLL
PLL
PLL - Platfields Limited - Settlement of High Court Litigation between
Rustenburg Platinum Mines Limited and Platfields
PLATFIELDS LIMITED
Incorporated in the Republic of South Africa
(Registration number 2002/005851/06)
Share code: PLL ISIN: ZAE000151825
("Platfields")
SETTLEMENT OF HIGH COURT LITIGATION BETWEEN RUSTENBURG PLATINUM MINES LIMITED
AND PLATFIELDS
1. In February 2008 Platfields was granted a prospecting right by the
Department of Mineral Resources ("DMR") for all minerals over the entire
farm of Tigerpoort 426KS ("Tigerpoort") which measures 504 hectares in
extent and which is situated in Sekhukhune, Limpopo Province ("the
Platfields right").
2. Rustenburg Platinum Mines Limited ("Rusplats"), a 100% owned subsidiary
of Anglo American Platinum Limited ("Amplats"), applied to the North
Gauteng High Court, Pretoria (Case Number 57809/10) to review and set
aside the granting of the Platfields right ("the Review Application") on
the basis that the Platfields right overlapped a portion of Tigerpoort
measuring 172 hectares over which Rusplats had already been granted a
mining right ("the competing area").
3. Platfields and Amplats ("the parties") have settled the litigation on the
basis that the ("DMR") will execute a prospecting right in favour of
Platfields over Tigerpoort which excludes the competing area and which
measures 332 hectares in extent ("the non-competing area").
4. Platfields have submitted new sketch plans to the DMR for execution for
the non-competing area.
5. The parties have agreed that as soon as the DMR have executed the
prospecting right in favour of Platfields over the non-competing area,
Rusplats will withdraw the Review Application in respect of Tigerpoort
and Leeuwkop.
6. Following the withdrawal of the Review Application by Rusplats,
Platfields will be entitled to continue with its prospecting activities
in respect of the non-competing area.
7. Notwithstanding anything contained herein to the contrary, Platfields
shall immediately be able to continue with its prospecting activities
over Leeuwkop 425KS a Platfields neighbouring prospect.
8. The above settlement and this SENS statement, excluding paragraph 7
thereof which is of immediate effect, are both conditional upon the DMR
executing in favour of Platfields a prospecting right over the non-
competing area of Tigerpoort i.e. which excludes the competing area.
Cape Town
26 September 2011
Sponsor
Merchantec Capital
Date: 26/09/2011 16:50:01 Produced by the JSE SENS Department.
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