:: MoU with Renova Facilitates Russian/SA Co-operation

Bateman has entered into a memorandum of understanding (MoU) with the Renova Group of Companies aimed at advancing the development of joint South African/Russian projects.

The agreement, signed by Pieter du Plessis, CEO of Bateman's Minerals & Metals division, and Mark Buzuk of Renova, provides for a long-term cooperation between the two companies to promote and develop Renova's projects in the South African mining and metallurgical industry.

Bateman's broad experience and knowledge of the local market provides a sound base for the development of Renova's projects in South Africa to the highest technical standards and within the framework of Governmental policy on broad-based socio-economic empowerment. As Bateman is not only a process engineering company but also experienced in structuring financing packages for global projects of all sizes, the MoU will allow Renova to exploit financing opportunities for joint projects.

Renova, established in 1990, is one of the largest management companies in Russia. Owning and managing businesses operating in 25 regions of Russia and the CIS, the company has business interests and implements investment projects in the metal, oil, mechanical engineering, mining, chemical and food sectors, energy, housing and utility services and infrastructure business.