Kumba Iron Ore statement
15 December, 2011
Anglo American wishes to draw attention to Kumba Iron Ore Limited’s announcement in relation to the residual Sishen Mine mineral rights. The text of that announcement is copied below:
The North Gauteng High Court handed down its order today in relation to the residual Sishen mining rights.
In terms of its order, the High Court ruled that when the Department of Mineral Resources effected a conversion of Sishen Iron Ore Company (Pty) Ltd’s (“SIOC”) old order mining right in 2008, SIOC was granted the exclusive right to mine at the Sishen Mine. The Court indicated that it reached this conclusion by interpreting the content of the mining right which was granted to SIOC.
The Court held that no other party may be granted the right to mine iron ore or quartzite at the Sishen Mine. The Court also reviewed and set aside the grant of the prospecting right to Imperial Crown Trading 289 (Pty) Ltd.
The detailed reasons for the judgement will be handed down next week. SIOC will consider the Court’s decision once it receives the detailed judgment and will inform shareholders in the event that any further steps are required to be taken in this regard.
The High Court order does not affect the interim supply agreement between AMSA and SIOC, which will endure until 31 July 2012.
As previously advised, AMSA and SIOC have agreed to delay the arbitration proceedings in relation to the Sishen Supply Agreement until the final resolution of the mining rights dispute.