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SUBSIDIARY NAME

TMK Steel

COUNTRY

SOUTH AFRICA

SECTOR/ INDUSTRY

IRON ORE MINE

OWNERSHIP %

70% IIB-DG

ACQUISITION DATE

August 26, 2022

ACQUISITION VALUATION

371 MILLION

MINING

TMK Steel: IIB-DG acquired on 26th august 2022 for the development of an IRON ORE MINE that has a pellet plant to be producing an OXIDISED IRON ORE PETTEL of Fe: 65% and above. My CPR records over 403 million tons of product that will be used to make the final product. The mining is opencast so it will be easy to extract from the ground. More information is recorded in the PRE-FEASABILITY attach hereto.

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