KIO - Kumba Iron Ore Limited - High Court decision in relation to the
KIO
KIO
KIO - Kumba Iron Ore Limited - High Court decision 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")
HIGH COURT DECISION IN RELATION TO THE RESIDUAL SISHEN MINE MINERAL RIGHTS
The North Gauteng High Court handed down its order today in relation to the
residual Sishen mining rights.
In terms of its order, the High Court ruled that when the Department of
Mineral Resources effected a conversion of Sishen Iron Ore Company (Pty)
Ltd`s ("SIOC") old order mining right in 2008, SIOC was granted the
exclusive right to mine at the Sishen Mine. The Court indicated that it
reached this conclusion by interpreting the content of the mining right
which was granted to SIOC.
The Court held that no other party may be granted the right to mine iron ore
or quartzite at the Sishen Mine. The Court also reviewed and set aside the
grant of the prospecting right to Imperial Crown Trading 289 (Pty) Ltd.
The detailed reasons for the judgement will be handed down next week. SIOC
will consider the Court`s decision once it receives the detailed judgment
and will inform shareholders in the event that any further steps are
required to be taken in this regard.
The High Court order does not affect the interim supply agreement between
AMSA and SIOC, which will endure until 31 July 2012.
As previously advised, AMSA and SIOC have agreed to delay the arbitration
proceedings in relation to the Sishen Supply Agreement until the final
resolution of the mining rights dispute.
Pretoria
For further information please contact:
Anne Dunn
Tel.: +27 (0)11 502 7404 / +27 (0)82 448 2684
15 December 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 15/12/2011 15:02:00 Produced by the JSE SENS Department.
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