PAM
PAM                                                                             
PAM - Palabora Mining Company Limited - Further cautionary announcement         
Palabora Mining Company Limited                                                 
(Incorporated in the Republic of South Africa)                                  
Registration number  1956/002134/06                                             
JSE Code: PAM  ISIN: ZAE000005245                                               
("the Company")                                                                 
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Further to the cautionary announcements dated 15 December 2009 and 26 January   
2010, shareholders     are advised that the negotiations regarding a potential  
broad-based Black Economic Empowerment transaction involving all or an          
appropriate part of the Company`s business are still in progress which, if      
successfully concluded, may have a material effect on the price of the Company`s
shares.                                                                         
Accordingly, shareholders are advised to continue exercising caution when       
dealing in the Company`s shares until such time as a full announcement is       
published.                                                                      
By order of the Board                                                           
Phalaborwa                                                                      
09 March 2010                                                                   
Corporate Advisor   Transaction Co-     Sponsor             Legal Advisor       
                   Advisors                                                     
Bravura Equity      Rothschild          Barnard Jacobs      Webber Wentzel      
Services Limited                        Mellet Corporate                        
Finance (Pty)                            
                                       Limited                                  
Date: 09/03/2010 16:59:01 Produced by the JSE SENS Department.                  
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