Miranda today announces that its subsidiary Sesikhona Kliprand Colliery (“Sesikhona”) has been granted a Mining Right in terms of section 23(1) of the Minerals and Petroleum Resources Development Act (Act 28 of 2002) (“the Sesikhona Mining Right”).
The Sesikhona Mining Right has been granted over four contiguous farms covering approximately 884 hectares and situated in the district of Dannhauser KwaZulu-Natal (“KZN”).

 The Sesikhona project is the first of a number of Miranda’s coal projects in KZN expected to be coming into production within the next 18 months. As the first of its projects to convert from exploration to mining status and with its positive impact on the group’s cash flows and exploration objectives, the granting of the Sesikhona Mining Right therefore represents a defining moment for the group.

Sesikhona, owned 88% by Miranda and 12% by the Kliprand local community, entered into a joint venture agreement with Ilhosi Project Mining (“Ilhosi”) earlier in 2008 wherein Ilhosi agreed to mine the deposit and pay Sesikhona an annuity income of R50 per ton of coal mined. In addition, Ilhosi will make an immediate upfront payment of R5 million, in addition to the non-refundable R1 million already paid.
It is anticipated that Ilhosi will begin with mining within the next 60 to 90 days as the bulk of the infrastructure has already been put in place.
Ron Nel, CEO of Miranda, commented, “The award of our first mining right will unlock value at Sesikhona and move Miranda into a revenue producing exploration company with positive cash flows”.
First phase drilling identified a coal resource of approximately 5.4 million tonnes of a high grade anthracite, which will be mined using open cast mining methods at a rate of between 30 000 to 50 000 tonnes per month. Second phase drilling will begin in the course of the first quarter of this year to extend the size of both the open cast and underground sections of the resource, which management believes will extend the life of mine to at least 20 years.
Miranda has submitted two further mining right applications to the Department of Minerals and Energy for the Amajuba project, also situated in the Dannhauser area and the Uithoek project in the Glencoe area.

 ISSUED BY: FDBeachhead
Louise Brugman
(011) 214 2415/ 083 504 1186/ louise.brugman@fd.com

ON BEHALF OF: Miranda Minerals
CEO: Ron Nel   
012 665 4200
Notes to editors
Miranda holds an 88% interest in Sesikhona. The remaining 12% is held by the local Kliprand community, who are actively involved in the project and are represented on the board of Sesikhona.