Officially reply of the national development and reform committee on Wuhang Stainless Steel Products Co., Ltd.’s investment to the Tharisa plc.

Wuhang Stainless Steel Products Co., Ltd.

According to <the request of Wuhang Stainless Steel Products’ investment to 15.2% of the total share of Tharisa plc. (No.735 2010)>. The approve of this project lists as below:

1. Agreed in principle on the Wuhang Stainless Steel Products Co., Ltd.’s investment to the Tharisa plc.
2. Tharisa plc. was founded in Cyprus, 2008. It is now holding 74% share of Tharisa Minging Co., Ltd. in South Africa. The total assets of Tharisa plc. is 104 million dollar, and net assets of 75 million dollar. Tharisa Mining is a PEM and chrome ore mining company, which holds the mining right of the world’s biggest chrome mine. The mining area is over 55 million m².
3. The total capital of the project is 95.14 million dollar, all of which will be used to purchase 15.2% of the total share of Tharisa plc.
4. According to this file, Wuhang Stainless Steel Products Co., Ltd. can cooperate with other related department to finish this project.