ARM and Assore reach an in principle agreement on ARM’s disposal of its 50% effective interest in the Dwarsrivier Chrome Mine to Assore
27 February 2015
ARM and Assore have reached an in principle agreement on ARM’s disposal of its effective 50% interest in the Dwarsrivier Chrome Mine (�Dwarsrivier�) to Assore (the �Transaction�).
Dwarsrivier is currently an operation of Assmang Proprietary Limited (�Assmang�) which is jointly owned by ARM and Assore.
Pursuant to the implementation of the Transaction, Assore will own an effective 100% interest in Dwarsrivier.
The implementation of the Transaction is subject to the execution of definitive agreements and the receipt of relevant regulatory approvals.
The ARM Board of Directors has approved the disposal of Dwarsrivier as primary chrome ore production does not form part of ARM’s future commodity portfolio.
The Transaction is not a categorised transaction in terms of the JSE Limited Listings Requirements.
For all related queries please contact:
Jan Steenkamp
Chief Executive of Strategic Services and Exploration
Office: +27 11 779 1000
Email: jan.steenkamp@arm.co.za
Johannesburg
27 February 2015
Sponsor: Deutsche Securities (SA) (Proprietary) Limited