Section 12: RATIFICATION AND EFFECTIVENESS OF THIS AGREEMENT

(1) Following the execution of this Agreement, the Government will introduce and use its best endeavours to cause to be passed legislation for the purpose of ratifying and confirming this Agreement and implementing the terms hereof. (2) If such legislation shall not be duly passed and become law within 45 days from the date of this Agreement or within such extended time as the Government and the Company may in writing agree, this Agreement and all rights granted and all obligations assumed hereunder shall cease and determine upon the expiration of such forty-five (45) day period or such extended time so agreed, and without penalty with respect to any actions taken by the Company thereunder, prior to the date of such termination. (3) This Agreement shall come into force and effect upon the coming into operation of such legislation within the period specified in paragraph (2) hereof. 44 No. 4 Sierra Rutile Agreement (Ratification) Act 2002 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. FOR THE GOVERNMENT OF SIERRA LEONE Signed, Sealed and Delivered by the said Alhaji M. S. Deen, Minister of Mineral Resources, for and on behalf of the Govern- ment of Sierra Leone, in the presence of: Date: 20th November, 2001 Witness: ...................................... Date: 20th November, 2001 FOR SIERRA RUTILE LIMITED Signed, Sealed and Delivered by the said ..........................., Sierra Rutile Limited Chief Operating Officer, for and on behalf of the Sierra Rutile Limited, in the presence of: Date: 20th November, 2001 Witness: ...................................... Date: 20th November, 2001 PASSED in Parliament this 7th day of March, in the year of our Lord two thousand and two. J. A. CARPENTER, Clerk of Parliament. THIS PRINTED IMPRESSION has been carefully compared by me with the Bill which has passed Parliament and found by me to be a true and correctly printed copy of the said Bill. J. A. CARPENTER, Clerk of Parliament. PRINTED AND PUBLISHED BY THE GOVERNMENT PRINTING DEPARTMENT, SIERRA LEONE. GAZETTE NO 15 OF 21ST MARCH, 2002.