Bloomberg News

Sishen Rights Belong to Sishen Iron Ore, Full Ruling Shows

December 20, 2011

(Updates with ruling in second paragraph.)

Dec. 20 (Bloomberg) -- The High Court of South Africa’s North Gauteng Division issued its full judgment on the disputed issue of a stake in a mining deposit at the country’s Sishen complex, the country’s largest iron-ore mine.

Sishen Iron Ore Co., owned by Anglo American Plc unit Kumba Iron Ore and Exxaro Resources Ltd., holds the rights over the Sishen deposit, and any decision to award a stake to parties including Imperial Crown Trading 289 (Pty) Ltd. is void, the court said in a judgment sent today by e-mail.

The court released an outline ruling last week. It overturned the award of prospecting rights for the Sishen mine to Imperial Crown Trading, whose owners include Jagdish Parekh, a business partner of President Jacob Zuma’s son, Duduzane.

--Editor: Amanda Jordan

To contact the reporter on this story: Tony Barrett in London at tbarrett4@bloomberg.net

To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net


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