Sakura Ferroalloys Project International Manganese Institute 40th Annual Conference Cape Town, May 2014 P R E S E N T E D BY: T I A A N VA N A S W E G E N

D I R E C TO R – A S S M A N G

C H A I R M A N – S A K U R A F E R R O A L LOY S

1 IMnI - May 2014

Cape Town

IMnI - May 2014 Cape Town

Sakura Ferroalloys ? Project to construct two 81 MVA furnaces

for Mn-alloy production in the Samalaju

Industrial Park, Sarawak, Malaysia

2

Multinational project

IMnI - May 2014 Cape Town

54.36％ Raw material

Operating experience/ Technical support/

Sales agent

26.64％ Facilitator

Area sales agent

19.00% Product Off-take Technical Advisor

3 Shareholding Companies

Contribution to the project

Joint venture Mn alloy producer

3

Project details

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Capital ・USD 328 million

Capacity ・110ktpa of HCFeMn and 70ktpa SiMn

Land ・ Site of 100 ha (potential for phase 2)

Power ・Signed PPA for 75MW to 80MW – hydro - power

Labour ・Approx 1000 people - Construction phase ・186 people - Operational phase ・115 people - Outsourced to non core functions

Water ・500 – 1000 m3/day

Logistics ・Ore: 400kt pa ・Reductant: 130kt pa ・Final product: 180 kt pa

4

Smelting process flow

5

Mn Ore Coke Fluxes

Ferromanganese Silicomanganese

+/- 2300 kWh

Mn Ore / Sinter Quartzite Coke

+/- 4700 kWh

Slag dump

Slag Crushing

Crushed and screened HCFeMn as saleable

product – 110 000 tpa

Crushed and screened SiMn as saleable

product – 70 000 tpa

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Project progress to date

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Dates Major milestones achieved

Sept 2011 First visit to site of shareholders

June 2012 Project Pre-feasibility completed and approved

February 2013 Detailed Feasibility Study completed and approved

July 2013 Board approval obtained from Shareholders

September 2013 Obtained Environmental Impact Assessment approval

October 2013 Land offer and Power Purchase Agreement signed

November 2013 Metix appointed as Lump Sum Turn Key contractor

December 2013 Commenced with site clearing activities

February 2014 Commence on-site construction activities

April 2014 First concrete pour – Furnace foundation

October 2015* Commission 1st Furnace*

Project progress photos

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Greenfield site prior to project start ~ April 2013

Project progress photos

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Project site aerial view as at end April 2014

Project progress photos

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First concrete pour on furnace foundation in April 2014

Project progress photos

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Inspection of Furnace shell during trial assembly in China

Project progress photos

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Electrode bottom components - trial assembly in France and South Africa.

Project future milestones

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Dates Major milestones

May 2014 Commence shipment of manufactured plant & equipment

June 2014 Erection of first structural steel and furnace shell

End June 2015 First raw material delivered to Sarawak (Bintulu)

End July 2015 First raw material delivered to site

September 2015 Commissioning of Raw Material Section

October 2015 Commission and production ramp-up of Furnace 1

January 2016 Commission and production ramp-up of Furnace 2

June 2016 Achieve full operating capacity

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Project key success factors

• Competitively priced hydro – electricity • Excellent infrastructure - Samalaju • Investment incentives • Large, efficient production units • Shareholder synergy and support • Future expansion options

Questions?

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