Press releases

MDM Engineering awarded bankable feasibility study for Kalagadi Manganese project

27 August 2007

Johannesburg, 27 August 2007: MDM Engineering Limited announced today that the company has been awarded the contract to undertake the bankable feasibility study (BFS) for the Kalagadi Manganese project, which may also lead to the conclusion of a negotiated contract to continue into the plant erection phase. The latter includes the construction of a R2.3 billion ($320 million) manganese mine and a 2,4 million tonne sinter plant on site in the Kuruman area of the Northern Cape Province of South Africa. Kalahari Resources (Pty) Limited, a majority black and women owned and controlled company is the lead promoter of the project, and is an 80% shareholder in Kalagadi Manganese, with South Africa’s state-owned Industrial Development Corporation (IDC) holding the remaining 20%.

The BFS is scheduled to be completed in January 2008, whereafter a decision will be taken on how best to implement the project. Should the project be implemented as currently envisaged, construction could begin as early as the 1st quarter 2008. The project area overlies the Kalahari manganese basin, which is estimated to contain 80% of the world's known high-grade manganese resources.

MDM Engineering CEO George Bennett said, “The Kalagadi Manganese development is another exciting addition to our project book. It gives us the added opportunity of working alongside the Kalagadi Manganese team, who have led the development of the project to this stage.

Currently, MDM Engineering is involved in various projects totalling some US$400 million and is progressing towards a listing on an international exchange in the next year.


George Bennett
Chief Executive Officer
Tel: +27 11 886 7980

Note to editors

MDM Engineering Limited (MDM Engineering) is a BVI registered, mining and metallurgical engineering company which was established in February 2006. The company has an enterprise value of some US$12 million and US$3.5 million in working capital and is currently negotiating to become a member of the Amari Holdings Limited Group, a resource investment company with a balance sheet in excess of US$100 million. MDM Engineering has a team with 18 years of operational experience. The company was formed by George Bennett (now Chief Executive of MDM Engineering) and Mike Nunn (now a non-executive director of MDM Engineering) who purchased the intellectual capital and data from MDM (Pty) Ltd and employed key staff from MDM Ferroman (Pty) Ltd, after the latter company had been placed in provisional liquidation.

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