BNC signs off take agreement with Glencore

07 February 2011

Mwana Africa PLC

("Mwana" or the "Company") (AIM: MWA)

Bindura Nickel Corporation signs off take agreement with Glencore

Mwana Africa PLC is pleased to announce that Bindura Nickel Corporation ("BNC"), in which Mwana has an interest of 52.9%, has entered into an off-take agreement with Glencore International AG ("Glencore"). The agreement will cover all the nickel concentrate to be produced following the re-start of operations at the Trojan Mine. The required regulatory approvals in Zimbabwe have been received for the off-take agreement.

Highlights

Ø BNC to sell all nickel concentrate produced at the Trojan Mine, until the Bindura smelter and refinery are re-started, to Glencore.

Ø Glencore to pay BNC a London Metal Exchange ("LME") linked nickel price on agreed terms for final contained Nickel.

Once financing is secured to enable the restart, BNC expects to recommence mining at Trojan, initially at a rate of 10,000tpm ramping up to 70,000tpm over a period of 12 months. Once steady state is achieved at Trojan Mine, BNC expects to mine about 870,000 tonnes of ore per year, at an average head grade of 0.90%. After processing, BNC expects to produce concentrate containing 7,000 tonnes nickel per year at steady state.

Kalaa Mpinga, CEO of Mwana commented:

"The off-take agreement with Glencore is a very significant step toward the re-start of operations at the Trojan Mine and, in due course, unlocking the unique potential of Bindura's other nickel assets. We look forward to working with Glencore to deliver long-term shareholder value following their re-start."

For more information, please visit www.mwanaafrica.comor contact:

Enquiries:

Mwana Africa PLC Tel: +44 (0)20 7654 5580

Oliver Baring - Executive Chairman

Nominated Adviser and Broker

Ambrian Partners Limited Tel: +44 (0) 20 7634 4700

Richard Swindells / Jen Boorer

Public Relations

Merlin Tel: +44 (0)20 7726 8400

David Simonson

Anca Spiridon

Notes to Editors

The Trojan Mine

The Trojan Nickel Mine is located at the BNC operations at Bindura in the Mashonaland Central Province of Zimbabwe, 100km northeast of Harare. The Bindura Smelter and Refinery Complex are at the same location. BNC also owns the Shangani Nickel Mine and the Hunters Road open pit deposit. BNC's operations were placed on care and maintenance in November 2008 as a result of the economic situation in Zimbabwe and a sharp decline in the price of nickel.

Mwana currently holds a 52.9% controlling interest in BNC which is listed on the Zimbabwean Stock Exchange.