The Boards of Avmin, Harmony and ARM have reached agreement in principle regarding a range of indivisible transactions which, if implemented, will result in the creation of the largest black controlled mineral resources company in South Africa under the leadership of mining entrepreneur, Patrice Motsepe.
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Harmony Gold Mining Company Limited (NYSE: HMY JSE: HAR) today announced that it had reached in principle agreement regarding the acquisition of Avmin’s 286 305 263 shares or 42,2% interest in Avgold Limited (Avgold) at R10.11 per share
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We have had a good year operationally with record production being achieved at Assmang and Nkomati and with Target Mine having being brought into full production. As predicted, our earnings have been impacted by the strength of the Rand.
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Avmin is pleased to announce the appointments of Messrs JC Steenkamp and DN Campbell to the board of directors with immediate effect.
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Anglovaal Mining Limited (Avmin) shareholders are referred to the announcements today indicating that Harmony Gold Mining Company Limited (Harmony) and African Rainbow Minerals Gold Limited (ARMgold) will acquire a significant shareholding in Avmin.
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Anglovaal Mining (Avmin) last week signed a Memorandum of Understanding (MoU) with J&W Holding AG (J&W), regarding the sale of Avmin’s 90 per cent stake in Chambishi Metals Plc (Chambishi).
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Two Rivers Platinum is pleased to announce that The Department of Minerals and Energy has issued the company with a mining licence.
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Anglovaal Mining reports 239 per cent rise in headline earnings. Anglovaal Mining (Avmin) reported a 239 per cent increase in headline earnings for the six months ended 31 December 2002 compared to the 2001 comparative period.
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Two Rivers Platinum (Pty) Limited (Two Rivers) is pleased to announce that it has signed a memorandum of understanding with a new partner consortium, to be managed by TISO Capital (Pty) Limited (TISO), to acquire up to 25 percent of Two Rivers.
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Jongisa Klaas
Head of Investor Relations and Corporate Development
Tel: +27 (0) 11 779 1300
E-mail: jongisa.klaas@arm.co.za
Corné Dippenaar
Corporate Development
Tel: +27 (0) 11 779 1300
E-mail: corne.dippenaar@arm.co.za
Ursula Anyamene
Investor Relations and Corporate Affairs Assistant
Tel: +27 (0) 11 779 1300
E-mail: ursula.anyamene@arm.co.za
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