The Chairman of Rössing Uranium Limited, Mr Charles Kauraisa, announced that the Managing Director of Rössing, Dr Dave Smith, will be leaving the Company shortly. He has been asked to take up the post of Managing Director of Hamersley Iron, Australia, in April this year.

Hamersley Iron, like Rössing, is in the Rio Tinto group. Dr Smith said the move is quite unexpected. It is due to the unfortunate passing away of one of Rio Tinto's most senior executives. This has triggered a number of moves within Rio Tinto which are happening much faster than planned.

Hamersley Iron, mines and ships about 70 million tonnes of iron ore globally. It is one of the largest companies in the Rio Tinto group. Dr Smith said that it is a privilege and a challenge to take up his new position. However, he said the suddenness of the move surprised him.

Dr Smith said: "I am very pleased that the people at Rössing have made some good progress recently. They have certainly improved the competitiveness of the Company over the past twelve months and it is starting to look in good shape for the future".

He said a new senior management structure was now in place at Rössing - "I am confident that the company is in good hands". General Manager Operations, Mr David Salisbury, will take over as Acting Managing Director whilst a decision is made on a successor.

He said: "Both my wife and myself are sad to be leaving Rössing and Namibia much earlier than anticipated. We have truly enjoyed the country, the people and the friendships we have made. We have only very recently moved my office and home from Windhoek to Swakopmund, and were looking forward to settling in there."

Mr Kauraisa stated: "I am sorry that Rössing is losing Dr Smith at this critical stage, however, he and his team have, in the short time he has been here, put Rössing on the right course in terms of global competitiveness, and this will serve the company well in the future. I am confident that Dave is leaving the company in good hands. We wish Dave and Ros Smith the very best for the future."

Issued by:
Chairman
Mr Charles Kauraisa
Rössing Uranium Limited

Contact person:
General Manager Operations
Mr David Salisbury
Rössing Uranium Limited
Tel. 064 520 2316