Gigaba pours cold water on Alexkor aspirations

[] — STATE-owned diamond miner Alexkor would not be
acquiring new assets outside South Africa, Minister of Public Enterprises Malusi Gigaba
said on Monday.

Gigaba was responding to a parliamentary question by Herman Groenewald of the
Democratic Alliance, regarding statements made by Alexkor chairman Reginald Muzariri
in September last year that the company was shopping for new assets, not only in
South Africa but also in Angola, Zimbabwe and the Democratic Republic of Congo.

“There are no immediate plans to grow Alexkor beyond the borders of South Africa,’
Gigaba said. “The strategic focus in the short to medium term is to ensure that the
pooling and sharing joint venture . between Alexkor and the Richtersveld Community .
is commercially viable and sustainable.’

Gigaba said Alexkor has been allocated R350m for the 2012/13 financial year.

“No funding allocation has been made for explorations,’ Gigaba said. “However,
venturing beyond Alexander Bay remains an option for Alexkor to consider.’