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Kumba Resources Limited - Richards Bay coal terminal expansion paves way for
construction of Inyanda joint venture
Kumba Resources Limited
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
Share Code: KMB
ISIN Number: ZAE000034310
("Kumba")
RICHARDS BAY COAL TERMINAL EXPANSION PAVES WAY FOR CONSTRUCTION OF INYANDA JOINT
VENTURE
Kumba Resources Limited ("Kumba") and Eyesizwe Coal ("Eyesizwe") welcome today"s
announcement by the Richards Bay Coal Terminal (RBCT) regarding the go-ahead of
the RBCT expansion which paves the way for the construction of their 50:50 joint
venture, Inyanda coal mine.
The Inyanda coal mine, previously approved by both the Kumba and Eyesizwe boards
and subject to the RBCT expansion, is situated near Witbank and will produce
1Mtpa of thermal coal for the export market, via RBCT.
Construction of the mine will commence during June 2006, with capital
expenditure set at R184 million and an estimated commissioning date of December
2007.
The RBCT expansion is expected to be completed in July 2008 and will provide
6Mtpa of export capacity to members of the South Dunes Coal Terminal (SDCT),
namely Kumba (2Mtpa), Eskom Enterprises (3Mtpa) and Anker Coal (1Mtpa). Emerging
BEE companies will be allocated 4Mtpa with a further 10Mpta expansion available
for subscription.
"We are pleased that the RBCT Board has given the green light for this long
awaited expansion which enables Kumba and Eyesizwe to now proceed with the
Inyanda joint venture and take advantage of the buoyant international coal
market," said Ernst Venter, general manager of Kumba"s coal division.
Pretoria
2 November 2005
Sponsor
JPMorgan
For enquiries contact:
Ernst Venter
Kumba Coal
General Manager
Tel: +27 12 307 4322
Mobile: +27 83 609 1313
Trevor Arran
Kumba Resources Limited
General Manager, Corporate Affairs & Investor Relations
Tel: +27 83 609 1444
Sipho Nkosi
Eyesizwe Coal
Chief Executive Officer
Tel: +27 11 688 7660
Date: 02/11/2005 05:02:01 PM Produced by the JSE SENS Department
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