UniPalm became a significant participant in the General Mining sector (on the JSE) through its 15% shareholding in Afripalm Resources (Pty) Ltd. - www.mvelares.co.za

Afripalm Resources was established to provide an operational resources company which could be identified as the empowerment partner of choice in the mining sector. It is the intention of the partners in Afripalm to ensure that the company also plays a key role in enabling SA based resource companies to pursue opportunities in Africa.

Afripalm, under the leadership and guidance of its Executive Chair, Mr Lazarus Zim, accomplished its first major milestone when it concluded a transaction to acquire a controlling stake in Mvelaphanda Resources Limited. This truly momentous transaction, which was valued at over R1 billion, demonstrated the ability of BEE companies to work together. The Afripalm Resources and Mvelaphanda Resources transaction has already demonstrated a significant upside for all the shareholders of Afripalm, especially when one considers that Mvelaphanda Resource’s share price exceeded R59-00 per share in the first 6 months of 2008, and the initial transaction (in 2007) was concluded at R29.20 a share this is especially noticeable. The Afripalm/Mvelaphanda transaction has ensured that UniPalm enjoys a significant exposure to the Gold, Diamond and Platinum sectors.

Website: www.mvelares.co.za