MRR Mining Resources Limited (CRL or Company) provides the following statement in response to media reports:

CRL notes that neither it nor its subsidiary MRR Mining SA have received any correspondence from Gecamines SA (Gecamines) pertaining to matters noted in media reports. Further, no such correspondence has been received by CRL’s parent company, MRR Mining Group Limited.

On 27 June 2024, CRL announced that Norin Mining Kingco Limited, which is a wholly-owned subsidiary of Norin Mining, had signed a Share Purchase Agreement with CRL’s parent company MRR Mining Group Limited. Pursuant to the Share Purchase Agreement, once all conditions precedent have been satisfied, Norin Mining Kingco Limited will acquire all of MRR Mining Group Limited’s shares in CRL.

Under the transaction announced, CRL will continue to own 94.9998% of the shares in MRR Mining SA. Therefore, MRR Mining SA will continue to be a subsidiary of CRL. Accordingly, MRR Mining SA will continue to be the counterparty to all of its existing agreements including the Mutoshi lease. For the avoidance of any doubt, MRR Mining SA itself is not being sold.

CRL confirms that prior to its announcement of the transaction, MRR Mining SA had formally notified Gecamines SA in writing that its ultimate parent company, MRR Mining Group Limited, intended to sell its shares in MRR Mining Resources Limited. In this notification, MRR Mining SA confirmed that this decision on the part of MRR Mining Group Limited followed a ruling by the Commercial Court of Lubumbashi which granted MRR Mining SA preventive settlement relief. Under the preventive settlement relief, the ultimate parent company of MRR Mining SA was required to take active steps to address the outstanding financial obligations of MRR Mining SA.

MRR Mining SA on behalf of CRL and MRR Mining Group Limited looks forward to ongoing engagement with Gecamines SA with a view to securing its approval so it can conclude a transaction which is of great importance to the Democratic of the Congo at large. MRR Mining SA also looks forward to engaging with Gecamines SA to clarify recent media reports.

Importantly, the proposed transaction will provide the capital to fund the completion of Etoile Phase 2 and Mutoshi both of which will bring significant economic and social benefits to the DRC once in production.

To date, MRR Mining SA has invested over US$610M in the development of Etoile Phase 2 and Mutoshi with over US$520M being spent on Mutoshi alone.

As previously announced, the Government of the DRC has already provided written support for the transaction in accordance with Article 276 bis of the Mining Code.

Contact

For further information, please contact us at investor@mrrminingltd.com.

Media enquiries are to be directed to media@mrrminingltd.com.