25 Mar 2020
South Africa’s President Mr Cyril Ramaphosa, has imposed a national 21-day lockdown effective midnight, Thursday 26 March 2020. These measures have been announced to contain the spread of the coronavirus within South Africa. All non-essential businesses have been ordered to close for the duration of the National Lockdown. Mines have been ordered to limit activities to care and maintenance procedures designed to avoid damage to underground working areas and other infrastructure and facilities required for continuous operations. Buffalo Coal said “In compliance with the directive issued, care and maintenance protocols are being developed and will be fully implemented at the Company’s operations in Dundee before midnight on Thursday, March 26th. In addition to the safeguarding and maintenance of the Company’s critical infrastructure, these protocols will be designed to ensure continued compliance with all relevant environmental, safety, health and other relevant legislative requirements. The National Lockdown is expected to have a considerable negative impact on the Company’s mining operations. The Company will engage with its financiers, major suppliers and other stakeholders in this regard. The Company will continue to proactively measure and manage any potential impacts of the National Lockdown, together with any possible future extensions thereof. Further updates will be communicated to the Company’s various stakeholders as new information becomes available. Buffalo is a coal producer in Southern Africa. It holds a majority interest in two operating mines through its 100% interest in Buffalo Coal Dundee, a South African company which has a 70% interest in Zinoju. Zinoju holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine in South Africa. Buffalo has an experienced coal-focused management team.