Tshipi é Ntle Manganese Mining signs R1.35-billion mining contract

The new Tshipi Borwa mine in the Northern Cape took a step closer to production
today when its parent company, Tshipi é Ntle Manganese Mining (Pty) Ltd.
announced the signing of a R1.35-billion open pit mining contract with Aveng
Moolmans, one of Africa’s largest open pit mining contractors.

Mokgosi Nkoana, Tshipi’s general manager, said the contract is for a 54-month
period and includes the removal of the overburden, drilling, blasting and hauling of
the manganese ore. “Preparatory work will start immediately and pre-stripping will be
underway by the end of the month,” he said.

Mr. Nkoana said the awarding of the contract to a South African company is in
line with Tshipi é Ntle’s policy of using local suppliers wherever possible. He also
indicated that Aveng Moolmans was selected as the sucessful contractor based on
its proven safety record, experienced team, service capability and competitive terms.

“We are also making good progress with the new load-out station and siding we
are constructing to ensure we meet all Transnet’s requirements to be linked into the
national rail network and now we are about to take the first steps to reaching the
manganese ore which lies 70 metres below the Kalahari surface.”

Tshipi Borwa is majority owned by Ntsimbintle Mining, (led by Saki Macozoma) and
OM Holdings Limited, in partnership with Jupiter Mining Limited. Both OM Holdings
Limited and Jupiter Mining Limited are listed on the Australian Stock Exchange. The
Northern Cape’s John Taolo Gaetsewe Developmental Trust is also a significant
shareholder in the project.