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Xstrata's Proposed Acquisition of LionOre Mining has Been Approved

Mar 30 2007

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Xstrata plc announces that it has received notice from Australia’s Federal Treasurer that Xstrata's proposed acquisition of control of LionOre Mining International Ltd. has been approved by the Federal Treasurer under the Foreign Acquisitions and Takeovers Act 1975. The Federal Treasurer concluded that Xstrata’s all cash offer to the shareholders of LionOre was not contrary to the national interest and, therefore, Xstrata's offer is not subject to further review under the Act.

Xstrata announced its all-cash offer to acquire all of the issued and outstanding shares of LionOre by way of a friendly take-over bid on 26 March 2007. The offer documents are expected to be mailed by 6 April 2007.

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