CMO - Chrometco Limited - Approval of new order mining rights continuation of
CMO
CMO
CMO - Chrometco Limited - Approval of new order mining rights, continuation of
mining activities at Rooderand and withdrawal of cautionary
CHROMETCO LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/026265/06)
(JSE Code: CMO ISIN: ZAE000070249)
("Chrometco" or "the company" or "the group")
SHAREHOLDER UPDATE
APPROVAL AND GRANTING OF NEW ORDER MINING RIGHTS, CONTINUATION OF MINING
ACTIVITIES AT ROODERAND AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
APPROVAL AND GRANTING OF NEW ORDER MINING RIGHTS
Chrometco is pleased to advise that on Tuesday, 20 December 2011, the Department
of Minerals Resources (DMR) approved and granted the conversion of its old order
mining rights for chromite on Rooderand 46JQ Portion 2 and the remainder
thereof; ("Rooderand") into new order mining rights in terms of the Minerals and
Petroleum Resources Development Act (MPRDA) Act 28 of 2002, effective until 19
December 2041.
CONTINUATION OF MINING ACTIVITIES AT ROODERAND
Subsequent to the mining and management agreement with DCM Chrome (Pty) Ltd
("DCM") lapsing on 3 December 2011, Chrometco will continue chrome mining
operations for the group`s own benefit at Rooderand in January 2012.
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcements dated 2 November 2011
and 28 November 2011 and are advised that the discussions referred to therein
have been suspended.
Accordingly, shareholders no longer need to exercise caution when dealing in the
company`s shares.
Johannesburg
22 December 2011
Designated Advisor
Sasfin Capital
(a Division of Sasfin Bank Limited)
Date: 22/12/2011 12:12:07 Produced by the JSE SENS Department.
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