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African Rainbow Min. (ARB)

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Thursday 02 June, 2005

African Rainbow Min.

Further re JV with LionOre


AFRICAN RAINBOW MINERALS LIMITED

ARM RECEIVES COMPETITION COMMISSION APPROVAL FOR JV WITH LIONORE AT NKOMATI

Johannesburg, Thursday 2 June 2005

African Rainbow Minerals Limited ('ARM') (JSE : 'ARI' LSE : 'AGM') announced on
2 February 2005, a transaction valued at US$48.5 million in which LionOre
Mining International (LionOre) would partner ARM in a 50:50 joint venture at
Nkomati Mine. This included LionOre paying US$20 million for participation in
the significant Nkomati expansion project, if the two partners agree to
proceed.

ARM is pleased to report that all conditions precedent have been met, including
unconditional approval from the South African Competition Commission on the
formation of the joint venture.

ARM's Chief Executive Officer André Wilkens said: 'We look forward to the
completion of the feasibility study review and the pit optimization study and
we expect to present the expansion project to our board of directors by late
2005.'

ENDS

Issued by African Rainbow Minerals Limited

For further details contact:

Pieter Rörich

Executive: Corporate Development

on +27(0)82 570 5064

[email protected]

Sponsor to ARM

Deutsche Securities (SA) (Proprietary) Limited


                                                                   

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