Announcements 2007

Northam Platinum Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1977/003282/06)
(ISIN: ZAE000030912)
(Share Code: NHM)
(“Northam”)

Mvelaphanda Resources Limited
Mvelaphanda Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1980/001395/06)
(ISIN: ZAE000050266)
(Share Code: MVL)
(“Mvela Resources”)

Anglo Platinum
(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
(ISIN: ZAE000013181)
(Share Code: AMS)
(“Anglo Platinum”)

Shareholders of Anglo Platinum, Mvela Resources and Northam (“the parties”) are referred to the joint and individual announcements published by the parties on 4 September 2007 (“the announcements”) regarding:

• the proposed acquisition by Mvela Resources of Anglo Platinum’s entire interest of 53 million shares (being 22.4% of the issued share capital) in Northam and Anglo Platinum’s stake in the Booysendal Platinum Project (“Booysendal”);
• the proposed acquisition by Northam of 100% of Booysendal; and
• a specific issue of ordinary shares by Mvela Resources to Afripalm Resources,

collectively “the proposed transactions”.

The parties advised at the time of the announcements that they expected the proposed transactions to be concluded by the end of the calendar year 2007.

Due to the complexity and size of the proposed transactions the parties advise that it is unlikely that the confirmatory due diligence and detailed transaction agreements will be completed in time to convene the requisite Mvela Resources and Northam shareholders meetings before the December 2007 holiday period. Accordingly, the parties now advise that the circulars to Mvela Resources and Northam shareholders are likely to be posted to shareholders during January 2008.

Johannesburg
7 November 2007
723 -/07/mb

Distributed for Northam

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Johannesburg, 24 October 2007. The management of Northam Platinum advises that mining operations were resumed at the company’s Northam mine in the Limpopo Province today, Wednesday 24 October 2007. This follows the lifting of the order imposed by the Department of Minerals and Energy under Section 54 of the Mine Health and Safety Act in terms of which mining operations at the mine were suspended on 16 October 2007.

Northam estimates production losses of some 6 500 ounces (3PGMs + Au).

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London
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Northam advises that Mr Robin Mills has tendered his resignation as a non-executive director of the company with effect from 16 September 2007.

Johannesburg
18 September 2007

Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited

Transaction creates the only fully independent, HDSA owned and controlled, integrated PGM producer, with substantial life

Mvelaphanda Resources Limited (Mvela Resources) and Northam Platinum Limited (Northam) announced today that agreement has been reached on the acquisition by Northam of the entire Booysendal platinum project (Booysendal) on the Eastern Limb of South Africa’s Bushveld Complex, including full control of the resultant metals from mine to market.

The agreement follows a broader Black Economic Empowerment (BEE) transaction between Mvela Resources, Afripalm Resources, and Anglo Platinum, which resulted in:

• Mvela Resources acquiring Anglo Platinum’s 50% interest in Booysendal
• Mvela Resources acquiring Anglo Platinum’s entire 53.1 million shares in Northam (22.4% interest)

In terms of the agreement, Northam will acquire 100% of Booysendal, and secure full operational control of the project for a consideration of 125 million new ordinary shares to be issued to Mvela Resources. This equates to a market value of R6.25 billion.

Explaining the strategic rationale of the transaction for Northam, CEO Glyn Lewis said that the acquisition of this premier resource on the eastern Bushveld is a company transforming transaction for Northam.

“The opportunity of acquiring Booysendal, with its resource of some 112 Moz (3PGE+Au) and an extended life of mine, is one that Northam can ill afford to miss. The addition of this large, low-cost project to our asset base provides Northam with a much-needed and certain avenue for growth, improving the quality of its resource base, and with the potential to double its current output from some 325,000 oz to approximately 650,000 oz (3PGE+Au) in the near term. And, at a cost of around US$7.84 per PGM ounce (R50/share and R7.12/US$), the acquisition price is lower than most recent acquisitions in the platinum sector and certainly for comparable resources of this size and quality.”

On implementation of the transaction, Mvela Resources will increase its stake in Northam to 63.4%, bringing impeccable BEE credentials to Northam. Furthermore, this strategic alliance with Mvela Resources brings further growth and value-enhancing opportunities to Northam, whose prospects are currently constrained.

Commenting on the value of the transaction for Mvela Resources, CEO Pine Pienaar said, “With the successful conclusion of this transaction, Mvela Resources has achieved a significant strategic milestone by gaining control of a robust operating company. Northam currently operates one of the most technically challenging PGM mines, and has for many years demonstrated its mining and metallurgical expertise. This expertise and capacity, along with its access to world-class refining technology, provides an as yet unrealised competitive advantage and sustainable platform for growth.”

Booysendal is a well explored area on the Eastern Limb of the Bushveld Complex, with measured, indicated and inferred resources on the Merensky and UG2 reefs of 33 million oz (3PGE+Au) and 79 million oz (3PGE+Au) respectively. A technical committee has already completed a significant amount of work on the project, and a pre-feasibility study is likely to be completed by the end of the first quarter of the 2008 calendar year. Lewis describes the underlying reef as largely conformable. Initial technical studies suggest potential mine construction and development could start by the end of calendar 2009, after the completion of a bankable feasibility study, with first production beginning in 2010, ramping up to steady-state levels of some 240ktpm in 2013.

Total capex for the project is estimated at R4.8bn, to be funded from a combination of company cash retentions, and debt and/or equity financing, depending on market conditions prevailing at the time.

Implementation of the transaction will be subject to a number of conditions precedent, including Northam shareholders agreeing to waive their right to receive a mandatory offer from Mvela Resources (so as not to dilute its BEE shareholding), and normal regulatory approvals required for a transaction of this nature. It is anticipated that these approvals will be obtained by the end of calendar 2007.

Mark Willcox, CEO of Mvelaphanda Holdings said; “This is a further step in the strategic alignment of Mvela Resources and Northam. The initial investment in Northam in 2000 created the platform for additional value accretive transactions, which have resulted in the company growing its market capitalisation from R200 million in 2000 to over R11 billion today. Booysendal is a world-class growth asset in the platinum sector, and the development of this asset should create significant value for shareholders of Northam and Mvela Resources, including Mvelaphanda Holdings”.

Lazarus Zim, Chairman of both Mvela Resources and Northam, concluded; “This is a landmark transaction in the platinum sector, resulting in the creation of the fourth largest, independent and black-controlled South African PGM producer, controlling the precious metals pipeline from mine to market. The Mvela Resources/Northam group has got the right mix of cash flow from current operations and future organic growth opportunities to ensure its position as a meaningful player in the platinum industry for many years to come”.

Contacts:

For Mvela Resources

James Wellsted
+27 11 325 5323
+27 83 453 4014

For Northam Platinum

Marion Brower
+27 11 880 3924
+27 82 895 0698

Northam Platinum Limited and the National Union of Mineworkers (NUM) confirm that the parties have reached a final agreement on wages and various other issues in annual wage negotiations for the period 1 July 2007 to 30 June 2008. In terms of the agreement, all employees in the NUM bargaining unit (5,935 employees) will receive a 10% across-the-board wage increase. The agreement will take effect from 1 July 2007.

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Shareholders are advised that negotiations are in progress which, if successfully concluded, may have an effect on the price at which Northam’s shares trade. Northam shareholders are therefore advised to exercise caution when dealing in the company’s shares until such time as a detailed announcement is published.

Johannesburg
1 August 2007

Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited

The management of Northam Platinum is pleased to advise that, following an agreement with the National Union of Mineworkers last night, Monday 7 May 2007, the strike at the mine has been called off. Employees have been advised of the resumption of mining activities tonight, Tuesday 8 May 2007.

Meanwhile, an independent mediation process and an audit into the mine’s industrial relations policies and procedures has been put in motion. The intention is for this to be followed by a relationship building exercise between the various parties.

A total of 5 500 employees began the unprotected work stoppage at the start of the night shift on Sunday (29 April 2007).

Revenue losses are estimated at some R12 million per day. By the end of today, Tuesday 8 May 2007, Northam would have lost seven production days.

Johannesburg
8 May 2007

Contacts:

James Duncan
Tel: 011 880 3924
Mobile: 082 892 8052

Marion Brower
Tel: 011 880 3924
Mobile: 082 895 0698

The National Union of Mineworkers (NUM) is continuing with unprotected strike action at the Northam Platinum Mine near Thabazimbi, in spite of broad acceptance by the union of management proposals tabled at a meeting between the parties yesterday, Wednesday 2 May 2007.

A total of 5 500 employees began the unprotected work stoppage at the start of the night shift on Sunday (29 April 2007).

The unprotected action is related primarily to a demand by the NUM for the relocation of Northam’s Chief Executive Officer from the mine to the company’s corporate office in Johannesburg and the removal of two mine industrial relations department officials.

Yesterday’s proposals from management included:

• the immediate appointment of an agreed independent mediator to conduct a full audit of the mine industrial relations structures, procedures and processes and to make recommendations;
• the immediate institution of an independently facilitated Relationship By Objectives (RBO) process to improve relationships; and
• the immediate appointment of an employee relations manager, similarly to improve relationships.

The NUM and striking workers have been advised that the strike action is unprotected. They have been informed by management that the ‘no work, no pay’ rule will apply and that the company reserves its rights to seek relief from the South African courts of law.

So far, loss of revenue due to the unprotected strike action is estimated to be R24 million.

Contacts:

James Duncan
Tel: 011 880 3924
Mobile: 082 892 8052

Marion Brower
Tel: 011 880 3924
Mobile: 082 895 0698

Northam advises that Mr Tokyo Sexwale has tendered his resignation as non-executive director and chairman of the company with effect from 20 April 2007. Mr Sexwale was appointed to the board on 15 September 2000 and chairman on 1 November of that year.

The company wishes to place on record its sincere appreciation of the services rendered to the company by Mr Sexwale during his term of office. His wise counsel, astute leadership and positive contribution to the affairs of the company will be sorely missed.

Johannesburg 25 April 2007

At the opening of the Heraeus precious metals refinery Port Elizabeth

Ladies and gentlemen

The launch of this refinery today represents for us one of the many highlights in our relationship with Heraeus. This is a relationship which has developed over many years, in fact since the inception of our platinum mine, Northam, up in the Limpopo Province. Matthias, I must congratulate you, your contractors and suppliers and your colleagues today – what you have achieved here in only 18 months is remarkable.

And to Roland Gerner and your colleagues in Germany, to Friedhelm, Matthias and your team here in Port Elizabeth, I wish to pay tribute to you and your organization. Your faith in Northam in those early days has made a solid contribution to the development of Northam, the subsequent creation of jobs, the development of infrastructure and communities - in what was in those days a remote and isolated area of the country. As a mid-tier platinum producing company, we now employ some 8000 people in one of the more impoverished areas of the country.

It is therefore particularly gratifying for us that Heraeus, one of the world’s largest precious metal manufacturing companies, has reaffirmed this faith in our country, our company, and the prospects for our long term future.

Large-scale development, such as we see here today, is inevitably associated with contributions from a number of players, and my thanks go to all of you today. The spirit of co-operation and the will to succeed with this project – from all the roleplayers, augurs well for the future economic development in the country, and indeed in this province. I must make particular mention of Mintek, the DME and the DTI. This has been an excellent collaborative effort, one which I believe, will contribute to an enabling environment for other smaller players to enter this exciting sector of the economy.

For us, the realization of this project (which has been in the pipeline for a number of years) creates an opportunity to make a percentage of our metal available for local downstream beneficiation initiatives, something we have always believed in and sought to pursue. The subsequent promulgation of the Mining Charter has brought its own imperatives for beneficiation. In line with the spirit of this Charter, we now have an excellent opportunity to make our metal available to local industries, both established and fledgling companies. In our strategic intent document, both Northam and Heraeus have articulated a commitment to building local intellectual capital – and to this end discussions have been initiated with a number of scientific, research and educational institutions to further the technological capabilities of our country and our people.

To conclude - I would like to quote from Northam’s chairman Alan Wright’s, opening address at the official inauguration of the mine 14 year ago in January 1993, a gathering at which Dr Jurgen Heraeus was himself present: “I should like to refer particularly to the occasion in 1988 when Dr Heraeus publicly welcomed me at a function in Frankfurt hosted by the Heraeus organization. The signing of the agreement between our two companies was announced at this function at which were present customers from many parts of the world.”

He went on to say: “This kind of positive interaction between business communities of different countries creates incentives for large capital investment programmes and provides jobs – a critical area if we wish to stabilize the socio-economic, and consequently, the political situation in our country as we move into the South Africa of tomorrow.”

Ladies and gentlemen, with those prophetic words, spoken in 1993, I would now like to hand you over to Dr Roland Gerner, Managing Director of Heraeus.

Thank you.

Northam Platinum today released its results for the half year ended 31 December 2006.

Key features

• Anticipated decline in PGM production in concentrate contained to 3.3%
• Robust PGM market conditions
• Sales revenue reaches R1.8 billion level
• Profit attributable to shareholders 118% higher at R661 million
• 115% increase in HEPS to 279.6 cents
• Dividend of 245 cps declared

Results for the first half of the 2007 financial year were particularly characterized by sustained robust metal prices, contributing to the record sales revenues of R1.8 billion for the half year. This compares with R1.1 billion in the comparable reporting period of F2006, a spectacular 66.7% higher. This represents 75% of the R2.4 billion total sales revenues achieved in the entire 2006 financial year.

As a consequence, net profit attributable to shareholders increased by 118% to R661 million, with headline earnings per share at 279.6 cents, 115% higher year on year. The interim dividend of 245 cps reflects the company's policy to return excess cash to shareholders.

Fueled by the strong metal price environment and the weaker rand against the US dollar, Northam has continued to accumulate cash, with healthy cash levels at R1.1 billion - R479 million (or 78%) higher than cash levels at the end of the December 2005.

On the operational side the anticipated decline in production of PGMs in concentrate was creditably contained to 3.3%, at 5 618 kg (180 623 oz) while metal sales declined by 7.0% year on year, owing mainly to a build-up in inventories.

Milled tonnages were higher by 4.9% at 1 251 612 tonnes, with UG2 tonnes representing 40% of the total tonnages milled, a year on year increase of 15.2%, and reflecting the continued challenging geological conditions on the Merensky reef horizon. The higher tonnages milled were, however partly offset by lower head grades from both reef horizons, (in combination at an average head grade of 5.1g/t) which contributed to the decline in production of precious metals in concentrate.

As anticipated at the end of the 2006 financial year, costs came under pressure. With the higher tonnages milled and increased development, total operating costs increased by 14%, to R697 million.

"On the positive side though, unit costs, in terms of rands per tonne milled were limited to a rise of 8.4%,” explained Northam chief executive Glyn Lewis.

Looking ahead, Lewis anticipates that production and sales of PGMs in the second half of the year are likely to be some 15% below the H1 numbers. At prevailing rand metal prices, this could result in a slight decline in earnings in the next reporting period.

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