Avmin to produce Superalloys for Rolls-Royce

Anglovaal Mining Limited

(Incorporated in the Republic of South Africa)

(Registration number 1933/004580/06)

Share code: AIN code: ZAE 000017141

AVMIN TO PRODUCE SUPERALLOYS FOR ROLLS-ROYCE

Pretoria, Tuesday, 30 March 2004: Avmin Alloys (Avalloy), a division of
Anglovaal Mining Limited (Avmin), will produce a variety of high performance
alloys, known as superalloys, for the aerospace division of Rolls-Royce plc
(Rolls-Royce).

The agreement, which is being finalised, relates to an initial three-year
supply of superalloys to the Rolls-Royce casting facilities in the United
Kingdom, China and Italy. Subject to successful completion of the commercial
agreement and demonstration of quality, reliability, and delivery standards,
the scope will increase to 250 tons of cast stick per annum. The Avalloy
plant's full capacity is 4 000 tons. Depending on market conditions and
Avalloy's success in entering other markets, full capacity may be reached
within a three-year period. It remains the intention of both Avalloy and
Rolls-Royce to extend this agreement beyond a three-year term and that Avalloy
will become a long-term preferred supplier to Rolls-Royce.

These superalloys, which are largely nickel-based, retain their strength at
high temperatures and are therefore ideal for jet engines, which operate with
greater efficiency at higher temperatures.

The Avmin board felt it was essential to seek a strategic alliance before
proceeding with the Avalloy project. By forging a technical and marketing
association with Rolls-Royce, the board's criteria was met, and a decision to
proceed with the Avalloy project was made.

Avmin started construction of the Avalloy facility at the beginning of 2004 and
progress has been good. The Avalloy plant, which will cost an estimated R110
million to build and is located between Johannesburg and Pretoria at the NECSA
facilities at the Pelindaba site near Hartebeespoort dam, will produce its
first alloy in the second half of this calendar year. Avalloy will directly and
indirectly create nearly 100 employment opportunities. Avmin started its
investigations into the production of superalloys some years back as it
produces two of the core mineral elements of superalloys, namely nickel and
cobalt (both from Avmin's Nkomati operation). In addition, South Africa is a
net exporter of nickel, which is derived as a by-product from the platinum
group metals refining process.

While the proposed agreement covers the supply of alloys to Rolls-Royce in cast
`stick' form, significant opportunity also exists for Avalloy to supply wrought
products also used in an aerospace engine, as well as in other industrial and
electrical applications. Avalloy's plan is to enter the cast `stick' market
and, once successful, produce alloy in wrought form using existing equipment
owned by Avalloy as well as other facilities available in South Africa, such as
forging equipment.

Avmin chairman Rick Menell commented: 'Avalloy will be South Africa's first,
major, producer of superalloys and represents a significant investment in
down-stream beneficiation by Avmin. The proposed agreement with Rolls-Royce
develops some exposure for Avmin, and South Africa, to the aerospace industry.
The Department of Trade and Industry has, as one of its major growth
objectives, the participation of South Africa and South African companies in
the world-wide aerospace industry: DTI's aim is to achieve similar success to
that of the automotive industry.'

Commenting on the announcement, Ralph Murphy, Rolls-Royce's director Middle
East & African Affairs, said: 'We are happy to say that the groups involved
have a shared vision of contributing to the prosperity of South Africa. We have
negotiated a commercial agreement to buy cast `stick' and assist Avmin as they
embark on this ground-breaking initiative for South Africa. We have the
operational knowledge, technology and products, to support Avmin in obtaining
accreditation and in securing demand as they look to supply new international
markets as well as increased skills and employment opportunities for South
Africans.'

ends

Enquiries:

Anglovaal Mining Limited                       Tel: [phone]          
                                                                             
Rick Menell, Chairman                                                        
                                                                             
Ebrahim Takolia, Investor Relations            + 27 83 291 3384              
                                                                             
College Hill                                                                 
                                                                             
Nicholas Williams                              + 27 83 607 0761              


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