Metorex shareholders are referred to the joint announcement of a firm intention by Jinchuan to make an offer to acquire the entire issued and to be issued share capital of Metorex published on the Securities Exchange News Service of the JSE Limited on July 5th 2011 and in the press on July 6th 2011 wherein Shareholders were informed of the opportunity for Vale to match or better the terms of the Jinchuan Offer.

It said “The Board has received written notice from Vale that it does not intend to submit an Amended Vale Offer and has proposed that the termination of the implementation agreement entered into between Vale and Metorex on April 8th 2011 subject to receipt by Vale from Metorex of the break fee provided for in the Vale Implementation Agreement being an amount of BRR 75 240 000.”

Metorex said “The board will convene shortly to consider its position with respect to the Vale Offer and the Jinchuan Offer. Shareholders will be advised of developments in due course.”