Sasol Limited – Sasol welcomes decision on windfall tax
(Incorporated in South Africa)
(Registration number: 1979/003231/06)
ISIN Code: ZAE000006896
Share Code: SOL
NYSE Code: SSL
("Sasol")
Sasol welcomes decision on windfall tax
The South African Minister of Finance, Trevor Manuel, announced today
that National Treasury would not proceed with a windfall tax on the
profits earned by existing synthetic fuel producers. The full statement
is available on National Treasury’s website:
www.treasury.gov.za
Sasol warmly welcomes National Treasury’s decision. “Our government’s
growth vision for the synthetic fuel sector is encouraging. We thank
the Minister and the National Treasury team for the constructive manner
in which this complex investigation was conducted. This is a win-win
outcome for all,” says Sasol chief executive Pat Davies
Commenting on the decision, Davies says: “We are enthusiastic about
the role we can play in enhancing South Africa’s energy security and
have started the first phase of significantly expanding our existing
synthetic fuels capacity in Secunda, South Africa. We also confirm that
we are proceeding with a pre-feasibility study into a greenfields coal-
to-liquids (CTL) facility in partnership with government.” The pre-
feasibility study of the project, known as Project Mafutha, is expected
to be completed during 2008.
Sasol also notes government’s aim to create a climate of certainty for
the liquid fuels industry and lay a basis to ensure the success of
growth projects like Mafutha. “We are one of the largest investors in
this economy and believe that Project Mafutha could provide Sasol and
our stakeholders with a further promising investment opportunity. We
are optimistic that the proposed venture will meet both government’s
and Sasol’s investment criteria. We look forward to partnering with
government to sustainably address our country’s energy needs,” says
Davies.
6 August 2007
Johannesburg
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Forward-looking statements: In this announcement we make certain
statements that are not historical facts and relate to analyses and
other information based on forecasts of future results not yet
determinable, relating, amongst other things, to exchange rate
fluctuations, volume growth, increases in market share, total
shareholder return and cost reductions. These are forward-looking
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