Decree No. 1464/14 approving the terms of Mining Contract for Coal Mine Project with “Sol Mineração Moçambique, SA”.

This Decree approves the terms of Mining Contract for Coal Mine Project with “Sol Mineração Moçambique, SA”, under the Mining Law, approved by Law No. 14/2002. The Mining Concession is issued for an initial period of 25 years from the effective date of the Mining Contract, subject to the conditions set out in the Mining Plan approved by the Government. Under the Mining Contract, the Council of Ministers gives the holder: a) the exclusive right to perform mining activities within the concession area through the surface or underground mining for coal exploitation, associated minerals from one or more coal deposits, underground, within the limits of the area of the Mining Contract; b) the right to perform mining activity, processing, transporting, storing and marketing the minerals under this Contract. The rights granted to the Mining Concessionaire are subject to applicable legislation and the terms and conditions set out in the Mining Contract.