Force majeure notification received from Anglo American Platinum Limited (Amplats) with respect to Modikwa Mine purchase of concentrate agreement

11 March 2020

ARM refers to the announcement by Amplats on Friday, 6 March 2020 regarding temporary shutdown of its converter plant.

ARM confirms that its subsidiary, ARM Mining Consortium Limited (ARM MC), has received written notification of force majeure from Rustenburg Platinum Mines Limited (RPM) in terms of the purchase of concentrate agreement between ARM MC and RPM. ARM MC holds 50% of Modikwa Mine while the remaining 50% is held by RPM, a subsidiary of Amplats.

RPM indicated that it will not be able to complete the processing of concentrate produced at Modikwa Mine until repair work to the Anglo Converter Plant (ACP) Phase B is complete. According to Amplats, repair work on ACP Phase B is expected to take approximately 80 days to complete.

ARM MC will continue to deliver concentrate produced at Modikwa Mine to RPM.

ARM MC is engaging with RPM to mitigate any negative impact on cash flow due to possible payment delays.

For all investor relations queries please contact:

Jongisa Magagula
Executive Director: Investor Relations and New Business Development
Tel: +27 11 779 1507

11 March 2020
Sponsor: Investec Bank Limited