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Interim Management Statement

By 11.17.2011November 4th, 20232011, Announcements2 min read



17 NOVEMBER 2011

Bisichi Mining Plc

Interim Management Statement

Bisichi Mining Plc (Bisichi), the UK mining company with direct coal mining
operations in South Africa, is pleased to provide the following update about
its operations:

The performance and profitability at Black Wattle Colliery (“Black Wattle”),
our direct mining operation in South Africa, has significantly improved in the
second half of 2011.

We are pleased to report the mine’s monthly production in the second half of
2011 to date has increased to an average of 135,000 metric tonnes. This
compares favourably with the average monthly production of 110,000 metric
tonnes achieved in the first half of the year. A further increase in the mine’s
monthly production is scheduled to impact early in 2012.

The demand for Black Wattle’s output remains strong in both the domestic and
export market and we have successfully established a market for a lower quality
product from our reserves which are not capable of producing higher quality
coal. The improved performance by the state rail provider in delivering coal to
our export customers has ensured our stockpiles have remained at acceptable
levels throughout most of 2011.

Finally, income from Bisichi’s UK property portfolio remains steady, with no
significant change from the first half of 2011.

For further information, please call:

Andrew Heller, Bisichi Mining PLC 020 7415 5030