Shaft Sinkers Holdings PLC : Hindustan Zinc Project Update

9 December 2013

Shaft Sinkers Holdings plc

("Shaft Sinkers" or "the Group")

Shaft Sinkers announces main shaft first blast at Hindustan Zinc's Rampura Agucha Mine

Shaft Sinkers Holdings plc (LSE:SHFT), the international shaft sinking and underground construction group, is pleased to announce the first blast at the Hindustan Zinc Limited ("Hindustan Zinc") Rampura Agucha zinc mine shaft in the Bhilwara district of Rajasthan, India. Rampura Agucha is the world's largest zinc mine, operated by Hindustan Zinc, a wholly-owned subsidiary of Vedanta Resources plc.

Hindustan Zinc awarded Shaft Sinkers the contract for the sinking of the main shaft as well as the north and south ventilation shafts at Rampura Agucha in May 2012. This blast marks the start of the main sinking phase for the 950m vertical shaft.

Alon Davidov, Chief Executive, said:

"We are delighted to announce the first blast at Rampura Agucha. We have successfully overcome a number of challenges and are pleased to mark this significant progress of the project. Our work for Hindustan Zinc will extend the mine life of one of the world's largest zinc deposits. Shaft Sinkers is focussed on helping our clients to make the most of their existing assets in a conservative industry environment."

Pavan Kaushik, a spokesperson for Hindustan Zinc, said:

"We are pleased to reach this key milestone at the Rampura Agucha mine and looking forward to the successful completion of this project."

For further information:

Shaft Sinkers Holdings plc+44 (0) 787 595 1362

Alon Davidov, Chief Executive Officer

Chris Hall, Chief Financial Officer

Aura Financial                                                +44 (0) 207 321 0000

Andy Mills

Notes to editors

Shaft Sinkers

Shaft Sinkers Holdings specialises in the sinking of particularly deep and wide vertical and decline shafts and the development of underground infrastructure, used primarily in mining and hydropower applications.

The Group is a world leader in vertical shaft sinking with a focus on particularly deep and/or wide vertical shafts. It has the capability to sink shafts through all types of rock strata, including running sands and clay. The Group works principally for established mining and infrastructure companies.

Historically, the Group has completed projects in over 20 countries worldwide across Africa, Europe, South America, the Middle East, Asia and Australia. The Group was responsible for sinking one of the deepest ever man and material South African shafts, a secondary shaft at the Western Deep Levels to a depth of 3,131 metres below bank.

Major current projects and customers include the Shaft 16 and 17 complexes for Impala Platinum, Leeuwkop for Afplats, the Styldrift project for Anglo Platinum and Royal Bafokeng Resources, the Lonmin projects include Karee 3, Hossy and Saffy, the Hernic Ferrochrome project; Rampura Agucha for Hindustan Zinc Limited and Kibali Goldmines.