African Rainbow Minerals (ARM) business update on impact of COVID-19

ARM refers to the SENS announcement released on 27 March 2020 in which the Company announced that in compliance with the nationwide lockdown, all ARM mining operations including Khumani, Beeshoek, Black Rock, Modikwa, Two Rivers and Nkomati mines had been placed on temporary care and maintenance for the duration of the 21-day lockdown period.

Subsequent to the initial announcement made by the President of the Republic of South Africa on 23 March 2020, the list of essential goods and services has been refined through continuous engagement and consultation with stakeholders.

Exemptions to the lockdown restrictions have been granted for certain additional goods which are considered critical to the nation’s economy and its revitalisation post the COVID-19 pandemic.

ARM’s joint venture, Assmang (Pty) Ltd, has received authorisation from the Minister of Mineral Resources and Energy to operate its load-out stations at Khumani and Beeshoek mines in order to continue loading iron ore from the mines’ respective stockpiles.

Transnet has mobilised the requisite resources and reactivated the rail and port export system from the Northern Cape to the Port of Saldanha which reactivation supports exports at approximately 40% of normalised iron ore volumes for the week commencing 30 March 2020. Transnet plans to ramp up volumes for the remainder of the lockdown period depending on availability of rail and port services. The iron ore operations have sufficient inventory to load for the remainder of the lockdown period.

The safety and wellbeing of our employees and contractors remains a key priority. The loading functions require less than 2% of the total mine workforce to be on-site. Strict hygiene, health and safety protocols are being maintained to protect employees who will be executing the loading functions.

For all investor relations queries please contact:

Jongisa Magagula
Executive Director: Investor Relations and New Business Development
Tel: +27 11 779 1507
E-mail: jongisa.magagula@arm.co.za

Johannesburg
2 April 2020
Sponsor: Investec Bank Limited