MTX
MEMTX                                                                           
MTX - Metorex Limited - Announcement                                            
METOREX LIMITED                                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1934/005478/06)                                            
ISIN: ZAE000022745                                                              
JSE Code: MTX                                                                   
Issuer code: MEMTX                                                              
Announcement                                                                    
Shareholders are informed that Consolidated Murchison, a division of Metorex    
Limited ("Cons Murch") has entered into consultation with the relevant Trade    
Unions under the auspices of the Commission for Conciliation, Mediation and     
Arbitration ("the CCMA") regarding the possible retrenchment of approximately   
400 employees.                                                                  
Due to the international decline in demand for Antimony and the decrease in     
Antimony prices from approximately $6500 to $5000 per ton, management has       
initiated a review of the cost profile of Cons Murch, of which 50% are labour   
related.                                                                        
An initial assessment has revealed, inter alia, that the changing of the mining 
methods from open stoping to mechanized cut and fill, as well as increased focus
on gold production will contribute to the sustainability and profitability of   
the Cons Murch operations. As a result Cons Murch has issued a letter of intent 
to the relevant Trade Unions and the CCMA regarding the possible retrenchment of
400 of the 1500 employees currently employed by Cons Murch.                     
4 December 2008                                                                 
Johannesburg                                                                    
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Ltd                      
Date: 04/12/2008 08:55:18 Produced by the JSE SENS Department.                  
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