Kumba Iron Ore statement

RNS Number : 7479I

Anglo American PLC

17 March 2010

 



News Release

17 March 2010

Kumba Iron Ore statement

Anglo American plc wishes to draw attention to an announcement by Kumba Iron Ore Limited ("Kumba") in relation to the Sishen mining rights. The text of that announcement is copied below:

On 26 February 2010, Kumba issued an announcement indicating that its subsidiary, the Sishen Iron Ore Company (Pty) Ltd ("SIOC"), had notified ArcelorMittal South Africa Limited ("Mittal") on 5 February 2010, that Mittal had failed to convert its 21.4% undivided share in the old order mining rights which it held in relation to the Sishen mine in terms of the Mineral and Petroleum Resources Development Act ("MPRDA").  SIOC, however, tendered to supply iron ore to Mittal on commercial terms.                                 

While SIOC has applied for the residual 21.4% mining right previously held by Mittal, it should be noted that a prospecting right over the 21.4% interest has been granted by the Department of Mineral Resources to a third party. SIOC has lodged an appeal against the grant of the prospecting right and Kumba is currently engaged in discussions with the Department of Mineral Resources in relation to the 21.4% residual right in respect of the Sishen mine.

- End of Kumba announcement.

Notes to Editors:

Anglo American plc is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Its portfolio of mining businesses spans precious metals and minerals - in which it is a global leader in both platinum and diamonds; base metals - copper and nickel; and bulk commodities - iron ore, metallurgical coal and thermal coal. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company's mining operations and extensive pipeline of growth projects are located in southern Africa, South America, Australia, North America and Asia. 

www.angloamerican.co.uk

 

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