Kumba Resources Limited Circular to Shareholders (PDF 753 KB)
[ 02/11/2006 ]
Diversified mining and metals group Kumba Resources Limited (Kumba) today announced that shareholders approved the company’s empowerment transaction involving Kumba, Anglo American plc, the Industrial Development Corporation and Eyesizwe Mining (Proprietary) Limited at its general meeting held today.
The ground-breaking transaction will result in the unbundling and separate listing on the JSE of Kumba Iron Ore on 20 November 2006, and the relisting of Kumba Resources as Exxaro on 27 November 2006. Kumba Iron Ore will be the JSE’s first listed iron ore company and Exxaro will be South Africa’s flagship empowerment mining company.
Shareholders approved all the special and ordinary resolutions contained in the circular to shareholders, which included the proposed employee schemes for Exxaro and Kumba Iron Ore.