ANGLO AMERICAN PLATINUM CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
Registration No. 1946/022452/06
("Anglo Platinum")
the ROYAL BAFOKENG NATION
("the Royal Bafokeng")
JOINT ANNOUNCEMENT - BAFOKENG RASIMONE PROPOSED JOINT VENTURE
Anglo Platinum and the Royal Bafokeng wish to announce that they have agreed
(in principle) the essential terms and conditions to establish a Joint
Venture to exploit the Merensky and UG2 reefs on the farms Boschkoppie 104
J.Q. and Styldrift 90 J.Q., near Rustenburg in the North-West Province of
South Africa.
In terms of the Joint Venture, Anglo Platinum and the Royal Bafokeng will co-
operate as equal participants and intend to utilise the existing
infrastructure at BRPM to gain access to the farm Styldrift 90 J.Q. adjacent
to BRPM. Additional infrastructure, including a new decline shaft and a 230
000 tons per month concentrator will allow the Joint Venture to attain full
production of 5,6 million tons per annum some 5 years after commencement.
The capital expenditure for the development of Styldrift has been estimated
at R2,243 billion (in 2001 money terms).
The conclusion of the Joint Venture Agreement is subject to various
conditions precedent which are expected to be fulfilled before the year end.
Johannesburg
31 July 2001
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