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KMB
KMB
Kumba - Green Light For Inyanda Joint Venture Following Approval Of
Richards Bay Coal Terminal Expansion
KUMBA RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
Share Code: KMB
ISIN Number: ZAE000034310
("Kumba")
10 August 2006
GREEN LIGHT FOR INYANDA JOINT VENTURE FOLLOWING APPROVAL OF RICHARDS BAY COAL
TERMINAL EXPANSION
Kumba Resources Limited (Kumba) and Eyesizwe Coal (Eyesizwe) welcome the
announcement made on 8 August 2006 by the Richards Bay Coal Terminal (RBCT)
regarding the go-ahead of the RBCT Phase V expansion which paves the way for the
construction of their 50:50 joint venture, Inyanda coal mine.
The Inyanda mine, previously approved by both the Kumba and Eyesizwe boards and
subject to the RBCT expansion, is situated near Witbank in Mpumalanga province
and will produce 1Mtpa of thermal coal for the export market, via RBCT.
Construction of the mine is expected to commence during January 2007, with
capital expenditure set at R184 million and an estimated commissioning date of
March 2008.
The RBCT expansion is expected to be completed by the end of the first half of
2009 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
9Mtpa expansion available for subscription.
"We are pleased that the RBCT Board has given the go-ahead 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.
For further information contact:
Ernst Venter
General Manager: Kumba Coal
Tel: +27 12 307 4322
Mobile: +27 83 609 1313
Trevor Arran
General Manager: Corporate Affairs & Investor Relations
Tel: +27 12 307 3292
Mobile: +27 83 609 1444
Sipho Nkosi
Chief Executive: Eyesizwe Coal
Tel: +27 11 688 7667
Sponsor
JPMorgan Equities Limited
Date: 10/08/2006 04:34:06 PM Produced by the JSE SENS Department
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