KMB
KMB
Kumba welcomes Competition Tribunal decision
KUMBA RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
Share Code: KMB
ISIN Number: ZAE000034310
("Kumba")
NEWS RELEASE:
16 August 2006
KUMBA WELCOMES COMPETITION TRIBUNAL DECISION
Kumba Resources Limited (Kumba) welcomes the decision announced today by the
Competition Tribunal to unconditionally approve the merger of Kumba"s coal
assets with those of Eyesizwe Coal within a newly created company that will be
named Exxaro Resources Limited (Exxaro).
This forms part of the empowerment transaction announced by Kumba in October
2005 that will involve the unbundling of Kumba into two separately listed
entities, namely Exxaro and Kumba Iron Ore Limited.
The Competition Tribunal has also unconditionally approved the proposed
acquisition by Exxaro of Namakwa Sands, Anglo American"s mineral sands
operations. In terms of the empowerment transaction, Anglo American granted
Exxaro an option to acquire 100% of Namakwa Sands.
"We are pleased with the decision as it represents a significant step in the
process to list the two companies which is expected to take place in the fourth
quarter of 2006," said Dr Con Fauconnier, Kumba"s chief executive.
ends
Editor"s Note:
One of the largest South African-based mining companies listed on the JSE
Limited, Kumba Resources is a focused metals and mining company with a diverse
commodity portfolio consisting of iron ore, heavy minerals, coal, base metals
and industrial minerals. www.kumbaresources.com
Kumba"s empowerment transaction will establish Exxaro as South Africa"s flagship
empowerment mining company which will be South Africa"s largest black-owned,
controlled and managed company. www.kumbabee.com
For further information contact:
Trevor Arran
General Manager: Corporate Affairs & Investor Relations
Tel: +27 12 307 3292
Mobile: +27 83 609 1444
Sponsor
JPMorgan Equities Limited
Date: 16/08/2006 04:29:04 PM Produced by the JSE SENS Department
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
