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| Incwala Platinum refinances; owns Akanani shareholding outright |
| 16 April 2008 |
| Incwala Platinum (Pty) Ltd, the wholly owned subsidiary of BEE group Incwala Resources, has successfully raised R900m from a consortium of local and international banks to refinance its existing preference shares and redeem its Akanani Mining (Pty) Ltd (“Akanani”) bridge finance.
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| Incwala finances the acquisition of Akanani with the intention of becoming operational mining company |
| 15 July 2007 |
| Incwala Resources (Pty) Ltd (“Incwala”) today announced the acquisition of a 26% stake in Akanani Mining (Pty) Ltd (“Akanani”) for approximately R800 million from the current BEE consortium of Akanani, making Incwala joint owners and operators of Akanani with Lonmin Plc.
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| Change to the Incwala Board of Directors |
| 21 February 2007 |
| Sir John Craven, one of two representatives of Lonmin plc (Lonmin) on the Board of Directors of Incwala Resources (Pty) Ltd (Incwala) has been replaced by John Robinson, with immediate effect following a restructuring at Lonmin.
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| Incwala Investment In Lonmin Platinum Limpopo |
| 30 June 2006 |
| Incwala Resources has become an 18% shareholder in Lonmin Platinum Limpopo, following an internal restructuring of Western Platinum Limited, in which Incwala has an 18% stake.
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| Resignation of Incwala Resources CEO |
| 07 June 2006 |
| Mining company Incwala Resources today announced the resignation of chief executive Arne Frandsen.
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| Incwala’s proposed acquisition of Mvelaphanda Resources not proceeding |
| 03 April 2006 |
| Incwala Resources (Pty) Ltd (‘Incwala’) and Mvelaphanda Group Ltd (‘Mvela Group’) have agreed to end discussions over the proposed acquisition by Incwala of Mvela Group’s 22.9% interest in Mvelaphanda Resources Ltd (‘Mvela Resources’).
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| Dawn Marole appointed chairman of Incwala Resources |
| 03 March 2006 |
| Mining company Incwala Resources (Incwala) is pleased to announce the appointment of Dawn Marole as Chairman. Ms Marole succeeds Brian Gilbertson, who has chaired the company since its formation. Mr. Gilbertson will remain on the Board as an independent non-executive director.
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