cci 2005 quarterly report

31 December 2005 QUARTERLY REPORT

Key Highlights:

Ruighoek Chrome Project – South Africa

• Feasibility studies continue on recommencement of mining by way of two open cut operations in the area the south of the #10 shaft and to the north of the #12
shaft at the Ruighoek Chrome Mine;

• The study has targeted open cut production of a minimum of 200,000 tonnes per year for up to 5 years. An alternative mine plan to produce up to 300,000 tonnes per annum is also being actively considered;

• Development of the underground operations funded from operating cash flow are planned with production to commence in year 2

• Negotiations with new Black Economic Empowerment (BEE) groups advancing well;

• Proposals from consultants for the completion of an Environmental Management Plan and community stakeholder consultation have now been received;//

//Black Economic Empowerment
Detailed negotiations commenced during the quarter with two new BEE groups for
the Ruighoek Project. As previously announced on 29th January 2006, agreement
in principal has been reached with one group post the end of the quarter to become
the BEE partner for Ruighoek, with details to be announced shortly.//