|
ARI
ARIM
ARI - African Rainbow Minerals Limited - African Rainbow Minerals (ARM)
stance on the Modikwa Deeps Properties
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
("ARM" or the "Company")
African Rainbow Minerals (ARM) stance on the Modikwa Deeps Properties
African Rainbow Minerals Limited (ARM), joint venture partners with Anglo
American Platinum Limited ("Amplats") wishes to clarify its position with
regard to three of the Modikwa Joint Venture`s Modikwa Deeps Properties,
being portions of the farms De Kom, Garatouw and Hoepakrantz, (the
"Properties") following the recent announcement by Nkwe Platinum Limited
("Nkwe").
ARM notes that a mining right has been issued by the Department of Mineral
Resources ("DMR") over the Properties in circumstances where inter alia the
issue of prospecting rights over the Properties by the DMR to inter alia
Genorah Resources (Pty) Limited is the subject of legal challenge by the
Modikwa Joint Venture. The parties to the litigation, which include the DMR,
have been negotiating to reach an out of court settlement. No agreement has
to date been reached in respect of any of the Properties.
ARM and Amplats are willing to continue negotiations with the DMR and other
parties involved in the matter in an attempt to resolve the situation. The
litigation will continue and will include a challenge of the issue of the
mining right by the DMR.
"ARM holds the interests of its shareholders in high regard and we will
cautiously proceed with the necessary steps to protect both the Company and
its shareholders," said Chief Executive Officer Andre Wilkens.
Shareholders of ARM will be kept informed on further developments.
ENDS
For more information please contact:
Stompie Shiels
Executive Director: Business Development
Tel: +27 11 779 1476
Mobile: +27 82 412 1004
E-mail: stompie.shiels@arm.co.za
Jongisa Klaas
Corporate Development and Head of Investor Relations
Tel: +27 11 779 1507
Mobile: +27 82 562 5288
E-mail: jongisa.klaas@arm.co.za
Johannesburg
17 February 2012
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 17/02/2012 15:21:58 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
