Reserves and Resources estimates

By reef (4E)

ORE RESERVES

By reef (4E)

The figures in the table below represent Anglo American Platinum Limited’s (Amplats) attributable interests:

table1

ORE RESERVE FOOTNOTES

General

 

The Mineral Resource and Ore Reserve tables reflect estimates prior to the strategic announcement in January 2013. Changes associated with the strategic review will most probably result in a reallocation of the affected reported Ore Reserves to Mineral Resources in the Rustenburg and Union areas and will only be reflected in 2013.

 

 

Rounding of figures may result in computational discrepancies.

 

 

Explanation of abbreviations

 

 

4E grade reported: Sum of platinum, palladium, rhodium and gold grades in grammes per tonne (g/t). The reported grades are as delivered for treatment.

 

 

Mt: Million tonnes

 

 

Moz: 4E million troy ounces

 

 

Concentrator recoveries

 

 

Concentrator recoveries for Merensky Reef range from 84% to 89%, UG2 Reef from 82% to 87%, Platreef from 64% to 74% and Main Sulphide Zone from 70% to 78%.

 

 

Ore Reserve pay limit

 

 

The pay limits built into the basic mining equation are directly linked to the 2013 business plan, prior to the strategic review announcement in January 2013. The pay limit is based on Cost 4 which consists of ‘Direct Cash Cost’ (on- and off-mine), ‘Other Indirect Costs’ and ‘Stay-in-Business Capital’ (on- and off-mine). The range is a function of various factors including depth of the ore body, geological complexity, infrastructure and economic parameters. The Merensky and UG2 Reef Ore Reserve pay limit varies across all operations between 2.0 g/t and 5.6 g/t. The pay limits for the Platreef varies between 1.0 and 1.7 g/t 4E.

South Africa

 

The Ore Reserve tonnage increased by 8.8% to 1,609.6 Mt (2011: 1,479.1 Mt), but the 4E content decreased by 3.0% to 170.8 4E Moz (2011: 176.1 4E Moz), mainly owing to:

 

 

  • Platreef Mogalakwena Mine: The Ore Reserves have increased significantly owing to the Pit Optimisation resulting in the conversion of additional Mineral Resources to Ore Reserves (Cut 14): +292.5 Mt ? +22.2 Moz.
 

South Africa

 

The increase in the Ore Reserves from Mogalakwena is partly offset by reallocation of previously reported Ore Reserves back to Mineral Resources owing to the current economic climate (economic assumptions) mainly at:

 

 

  • Tumela Mine: Replanning of the 4-shaft area UG2 Reef (-61.1 Mt ? -9.8 4E Moz) and Merensky Reef (-24.5 Mt ? -4.5 4E Moz).

 

 

  • Twickenham Mine: In 2011 Ore Reserves were reported to 7 Level, but only the conversion of reserves up to 3 Level are feasible under anticipated capital constraints: -50.9 Mt ? -8.8 4E Moz, and at

 

 

  • Siphumelele 1 and 2 mines Merensky and UG2 Reef: -16.0 Mt ? -2.3 4E Moz.

 

 

17711

   

BY REEF
Merensky Reef

 

The global Ore Reserve tonnage decreased by 27% to 82.3 Mt (2011: 113.0 Mt) and the 4E ounce content decreased by 33% to 12.5 Moz (2011: 18.5 Moz), mainly owing to the following:

 

 

  • Tumela Mine: Replanning of the 4-shaft area resulted in the reallocation of previously reported Ore Reserves back to Mineral Resources: -24.5 Mt ? -4.5 Moz.

 

 

  • Siphumelele 1 Mine: Conversion reallocation of previously reported Ore Reserves back to Mineral Resources owing to economic assumptions: -3.9 Mt ? -1.0 Moz.

 

 

  • Production depletion -5.6 Mt ? -0.9 Moz.

 

 

It must be noted that the global Ore Reserve grade decreased by 0.39 g/t from 5.10 g/t to 4.71 g/t mainly owing to the increase in the minimum Resource Cut from 90 cm to 110 cm owing to the introduction of an improved support system in order to reduce rock-related accidents. For more information refer to page 127.

   

17790

UG2 Reef

 

The global Ore Reserve tonnage decreased by 19% to 518.4 Mt (2011: 640.7 Mt) and the 4E ounce content decreased by 23% to 69.2 Moz (2011: 89.9 Moz) mainly owing to the following:

 

 

  • Tumela Mine: Replanning of the 4-shaft area resulted in the reallocation of previously reported Ore Reserves back to Mineral Resources: -61.1 Mt ? -9.8 Moz.

 

 

  • Twickenham Mine: Conversion reallocation of previously reported Ore Reserves back to Mineral Resources owing to economic assumptions: -50.9 Mt ? -8.8 Moz. In 2011 Ore Reserves were reported to 7 Level, but only the conversion of reserves up to 3 Level are feasible under anticipated capital constraints.

 

 

  • Siphumelele 2 Mine (School of Mines): Conversion reallocation of previously reported Ore Reserves back to Mineral Resources owing to economic assumptions: -12.1 Mt ? -1.3 Moz.

 

 

  • Conversion reallocation of previously reported Ore Reserves back to Mineral Resources owing to changes in mine design and modifying factors mainly at Thembelani Mine, Siphumelele 3 Mine and Khuseleka Mine: -9.3 Mt ? -1.4 Moz.

 

 

  • Production depletion -20.2 Mt ? -2.3 Moz.

 

 

These decreases were partially offset by the increase in Ore Reserves mainly from Union South Mine, Siphumelele 1 Mine, Kroondal Mine, Marikana Mine and Modikwa Mine where additional Mineral Resources have been converted to Ore Reserves: +31.4 Mt ? +3.0 Moz.

 

 

It must be noted that the global Ore Reserve grade decreased by 0.21 g/t from 4.36 g/t to 4.15 g/t mainly owing to the increase in the minimum Resource Cut from 90 cm to 110 cm.

 

 

17894

Platreef

 

For Mogalakwena North, Central and South the 4E pay limit is 1.0 g/t. For Sandsloot and Zwartfontein South the pay limit is unchanged at 1.7 g/t. The higher pay limit of 1.7 g/t is owing to the lack of dumping space for very low-grade material.

 

 

The Ore Reserves tonnage (inclusive of Proved primary ore stockpiles) increased by 39% to 1,008.9 Mt (2011: 725.4 Mt) and the 4E ounce content increased by 32% to 89.1 Moz (2011: 67.7 Moz) extending the life-of-mine significantly.

 

 

Mogalakwena mining studies have been completed to identify the optimal pit design (Cut 14), which resulted in the conversion of additional Mineral Resources to Ore Reserves: +292.5 Mt ? +22.2 Moz. A geotechnical study will commence in 2013 to endorse the optimum pit design which may result in changes in the reserve modifying factors.

 

 

Production depletion accounts for 9 Mt ? 0.9 Moz.

 

 

The Ore Reserve stockpiles do not include oxidised and calcsilicate material; this material is included in the Mineral Resource statement.

Proved primary 
ore stockpiles

 

Mined ore retained for future treatment. These are reported separately as Proved Ore Reserves and aggregated into the summation tabulations.

Main Sulphide Zone (MSZ)

 

MSZ is the ore body mined at Unki Platinum Mine. As of 2010, Amplats currently owns an effective 100% interest in Unki Mine subject to the finalisation of the Zimbabwean indigenisation agreement.

 

 

The Ore Reserves for the MSZ relate to the Unki East Mine only.

 

 

The Ore Reserve tonnage increased by 39% to 53.7 Mt (2011: 38.7 Mt) and the 4E ounce content increased by 38% to 6.5 Moz (2011: 4.7 Moz) mainly owing to conversion of Mineral Resources to Ore Reserves: Additional new information resulted in higher resource classification confidence and as a result these resources could then be converted to reserves.

Tailings

 

Operating tailings dams are not evaluated and therefore not reported as part of the Ore Reserves. At Rustenburg and Union mines dormant dams have been evaluated and are separately reported as tailings Ore Reserves.

 

By mine/project (4E)

ORE RESERVES

By mine/project (4E)

The figures in the table below represent Anglo American Platinum Limited’s (Amplats) attributable interests:

table2 table3

table4

ORE RESERVE FOOTNOTES BY MINE/PROJECT

General

 

1 For reconciliation purposes the total Ore Reserves from the individual mines Khuseleka, Thembelani, Khomanani, Siphumelele (includes Siphumelele 1, 2 and 3) and Bathopele have been tabulated to enable a comparison with the previously reported Rustenburg Mine.

 

 

2 For reconciliation purposes the total Ore Reserves from the individual mines Tumela and Dishaba have been tabulated to enable a comparison with the previously reported Amandelbult Mine.

 

 

3 During 2011, Union Mine was split into two mines: Union North and Union South. For this annual report the combined mine information is presented.

 

 

4 Opencast.

 

 

5 Underground.

 

 

Rounding of figures may result in computational discrepancies. 4E grade reported: sum of platinum, palladium, rhodium and gold grades.

Rustenburg mines

 

Rustenburg consists of five mines and owing to benefits of time/extraction, internal boundaries change year-on-year. However, for reconciliation purposes the entire Rustenburg area will be compared.

 

 

Merensky Reef

 

 

The total Ore Reserve tonnage decreased by 18% to 27.0 Mt (2011: 32.9 Mt) and the 4E ounce content decreased by 23% to 4.4 Moz (2011: 5.6 Moz). This was mainly owing to the following:

 

 

  • Siphumelele 1 Mine – conversion reallocation of previously reported Ore Reserves back to Mineral Resources owing to economic assumptions: -3.9 Mt ? -1.0 Moz.

 

 

  • Production depletion: -3.3 Mt ? -0.5 Moz.

 

 

UG2 Reef

 

 

The total Ore Reserve tonnage decreased by 11% to 165.8 Mt (2011: 186.9 Mt) and the 4E ounce content decreased by 12% to 19.3 Moz (2011: 21.8 Moz). This was mainly owing to conversion reallocation of Ore Reserves back to Mineral Resources at the following mines:

 

 

  • Siphumelele 2 (School of Mines) owing to economic assumptions: -12.1 Mt ? -1.3 Moz.

 

 

  • Thembelani Mine: -4.5 Mt ? -0.5 Moz.

 

 

  • Siphumelele 3 owing to a change in mine design: -2.9 Mt ? -0.4 Moz and

 

 

  • Production: -6.8 Mt ? - 0.7 Moz.

 

 

The decrease in tonnage and content is offset by the additional conversion of Mineral Resources to Ore Reserves at Siphumelele 1 mainly owing to an internal mine boundary transfer with Siphumelele 2: +5.7 Mt ? +0.8 Moz.

Tumela Mine

 

Owing to the replanning of the 4-shaft area (economic assumptions), previously reported Ore Reserves have been reallocated back to Mineral Resources. This resulted in a significant decrease of the Ore Reserves.

 

 

Merensky Reef

 

 

The Ore Reserve tonnage decreased by 95% to 1.4 Mt (2011: 26.2 Mt) and the 4E ounce content decreased by 95% to 0.3 Moz (2011: 4.9 Moz).

 

 

UG2 Reef

 

 

The Ore Reserve tonnage decreased by 51% to 61.9 Mt (2011: 126.6 Mt) and the 4E ounce content decreased by 53% to 9.1 Moz (2011: 19.4 Moz). Production depletion is equivalent to: -3.6 Mt ? -0.5 Moz.

Dishaba Mine

 

Merensky Reef

 

 

The Ore Reserve tonnage decreased by 0.7% to 15.4 Mt (2011: 15.5 Mt) and the 4E ounce content decreased by 8.6% to 2.6 Moz (2011: 2.9 Moz) mainly owing to new information and conversion reallocation of reserves back to resources. The Ore Reserve grade decreased by 0.46 g/t from 5.79 g/t to 5.32 g/t as a result of an increase in the Resource Cut.

 

 

UG2 Reef

 

 

The Ore Reserve tonnage increased marginally by 0.2%, and the 4E ounce content decreased by 2.7% mainly owing to new information.

Union mines

 

Amplats’ attributable interest is 85%. The figures quoted are for the attributable interest only.

 

 

Merensky Reef

 

 

The Ore Reserve tonnage increased substantially to 0.8 Mt (2011: 0.03 Mt) and the 4E ounce content increased substantially to 0.1 Moz (2011: 0.01 Moz) as a result of additional converted Ore Reserves at Union South Mine (Spud Shaft). It must be noted that in the 2011 Annual Report it was stated that the Merensky Reef mining will be completed during 2012; owing to changed circumstances mining will continue.

 

 

UG2 Reef

 

 

The Ore Reserve tonnage increased by 14% to 58.6 Mt (2011: 51.6 Mt) and the 4E ounce content increased by 12% to 8.1 Moz (2011: 7.3 Moz) as a result of additional converted Ore Reserves. The additional areas are from the Union South Mine (Spud Shaft), where levels 23 to 27 have been converted.

 

 

The increase in Ore Reserves is offset by production depletion: -2.9 Mt ? -0.4 Moz.

Twickenham Platinum Mine

 

UG2 Reef

 

 

Owing to economic assumptions the Ore Reserve tonnage decreased significantly by 65% to 26.9 Mt (2011: 77.8 Mt) and the 4E ounce content decreased significantly by 65% to 4.7 Moz (2011: 13.5 Moz). These previously reported Ore Reserves have been reallocated back to Mineral Resources. In 2011 Ore Reserves were reported to 7 Level, but only the reserves up to 3 Level are feasible under anticipated capital constraints.

Modikwa Platinum Mine

 

Amplats’ attributable interest is 50%. The figures quoted are as at end of December 2012 and reflect the attributable interest only. UG2 Reef figures reported are as per Modikwa Platinum JV management.

 

 

UG2 Reef

 

 

The Ore Reserve tonnage increased by 5.3% to 29.2 Mt (2011: 27.7 Mt) and the 4E ounce content increased by 3.5% to 4.3 Moz (2011: 4.2 Moz) mainly owing to additional conversion from Mineral Resources to Ore Reserves.

Kroondal Platinum Mine

 

Amplats’ attributable interest is 50%. The figures quoted are as at end of June 2012 and reflect the attributable interest only. UG2 Reef figures are as per the Kroondal PSA, managed by Aquarius Platinum South Africa.

 

 

The Ore Reserve tonnage increased by 7.6% to 25.5 Mt (2011: 23.7 Mt), but the 4E ounce content is unchanged at 2.4 Moz owing to conversion of Mineral Resources to Ore Reserves. The overall reserve grade decreased from 3.11 g/t to 2.89 g/t.

Marikana Platinum Mine

 

Amplats’ attributable interest is 50%. The figures quoted are as at end of June 2012 and reflect the attributable interest only. UG2 Reef figures are as per the Marikana PSA, managed by Aquarius Platinum South Africa.

 

 

The Ore Reserve tonnage increased by 19% to 15.6 Mt (2011: 13.1 Mt) and the 4E ounce content increased by 9.1% to 1.6 Moz (2011: 1.4 Moz) owing to changed modifying factors. The overall reserve grade decreased from 3.43 g/t to 3.14 g/t.

Mototolo Platinum Mine

 

Amplats’ attributable interest is 50%. The figures quoted are as at end of December 2012 and reflect the attributable interest only. UG2 Reef figures are provided by Xstrata Alloys.

 

 

The Ore Reserve tonnage increased by 3.6% to 6.8 Mt (2011: 6.5 Mt) and the 4E ounce content increased by 7.9% to 0.8 Moz (2011: 0.7 Moz) owing to additional conversion of Mineral Resources to Ore Reserves. The overall reserve grade increased from 3.50 g/t to 3.65 g/t owing to new information.

Bafokeng-Rasimone Platinum Mine

 

Amplats’ attributable interest is 33%. The figures quoted are as at end of December 2012 and reflect the attributable interest only. Reserve figures are as per BRPM, managed by Royal Bafokeng Platinum.

 

 

Merensky Reef

 

 

The Ore Reserve tonnage and the 4E ounce content decreased marginally to 23.6 Mt (2011: 24.0 Mt) and the 4E ounce content to 3.3 Moz (2011: 3.3 Moz) mainly owing to production depletion.

 

 

As in previous years no Mineral Resources were converted to Ore Reserves for portions of Frischgewaagd 96 JQ.

 

 

UG2 Reef

 

 

The Ore Reserve tonnage and the 4E ounce content decreased marginally to 18.0 Mt (2011: 18.2 Mt) and the 4E ounce content to 2.2 Moz (2011: 2.3 Moz) mainly owing to production depletion.

Bokoni Platinum Mine

 

Amplats’ attributable interest is 49%. The figures quoted are as at end of December 2012 and reflect the attributable interest only. Figures provided by Atlatsa Resources.

 

 

The 2012 Reserve declaration is based on the 2011 model adjusted for the 2012 depletion owing to the delay in the completion of the Life-of-Mine Plan as a result of the refinancing transaction being finalised between Amplats and Atlatsa and to the disruption caused by the three-month illegal industrial action.

Pandora

 

Amplats’ attributable interest is 42.5%. The figures quoted are as at end of September 2012 and reflect the attributable interest only. UG2 Reef figures provided by Lonmin plc.

 

 

UG2 Reef

 

 

The Ore Reserve tonnage increased by 25% to 7.7 Mt (2011: 6.2 Mt) and the 4E ounce content increased by 21% to 1.0 Moz (2011: 0.8 Moz) mainly owing to additional conversion of Mineral Resources to Ore Reserves (changed reserve footprint and lower geological losses).

 

By reef exclusive of Ore Reserves (4E)

MINERAL RESOURCES

By reef exclusive of Ore Reserves (4E)

The figures in the table below represent Anglo American Platinum Limited’s (Amplats) attributable interests:

table5 table6      

  table7

Owing to the uncertainty that may be attached to some Inferred Mineral Resources, it cannot be assumed that all or part of an Inferred Mineral Resource will necessarily be upgraded to an Indicated or Measured Resource after continued exploration.

1   Inferred in LOMP and Inferred ex LOMP

Inferred Mineral Resources within the Life-of-Mine Plan (LOMP) are described as ‘Inferred (in LOMP)’. The portion of Inferred Resources with reasonable prospects for eventual economic extraction not considered in the Life-of-Mine Plan are reported as Inferred (ex LOMP).

MINERAL RESOURCES EXCLUSIVE OF ORE RESERVE FOOTNOTES

General

 

The Mineral Resource and Ore Reserve tables reflect estimates prior to the strategic announcement in January 2013. Changes associated with the strategic review will most probably result in a reallocation of the affected reported Ore Reserves to Mineral Resources in the Rustenburg and Union areas and will only be reflected in 2013.

 

 

Rounding of figures may result in computational discrepancies. 4E grade reported: sum of platinum, palladium, rhodium and gold grades.

 

 

The Mineral Resource tabulations are quoted exclusive of Ore Reserves and after geological losses.

 

 

For the Boikgantsho, Sheba’s Ridge and Pedra Branca Project see page 142.

 

 

It must be noted that the Mineral Resources are quoted over the entire Mining Right and Prospecting Right areas except for Mogalakwena, where the Mineral Resources are only quoted down to potential future surface mining depths and UG2 and Merensky reefs (Tumela Mine, Twickenham Mine and Ga-Phasha project) where a virgin rock temperature of 75 °C is currently considered to be the limit to mining given anticipated technology, metal prices and energy costs.

 

 

Joint ventures

 

 

No changes.

 

 

Cut-off grade

 

 

Amplats takes cognisance of cut-off grades (derived from information on pay limits at the mining operations) and of ‘reasonable and realistic prospects for eventual economic extraction’ over a period of 30 to 50 years. The delineation of the Resources that meet the requirements of reasonable expectation of eventual economic extraction has been defined using the modifying factors as defined in the SAMREC Code. These include, but are not limited to, mineability, geological complexity, processability and economic factors relevant to Amplats. The minimum Resource grades per reef and per operation are in all instances greater than the Cost 4 pay limit. Cut-off grades are only applicable to the Platreef.

 

 

Resource Cut

 

 

Merensky and UG2 Reef: The Mineral Resources are estimated over a practical minimum mining width suitable for the deposit known as the ‘Resource Cut’.

 

 

  • For 2011 annual reporting: The minimum mining width over which Mineral Resources were declared was 90 cm.

 

 

  • For 2012 annual reporting: The minimum Resource Cut increased from 90 cm to 110 cm owing to the introduction of an improved support system in order to improve safety. The new support system consists of in-stope tendons and netting and the dimension of the installation equipment and support units necessitated an increase in the Resource Cut. This applies mainly to the Anglo Platinum mines. Owing to the increased minimum Resource Cut the overall Merensky Reef and UG2 Reef tonnage increased and the overall grade decreased.

 

 

The ‘Resource Cut’ width takes cognisance of the mining method and geotechnical aspects in the hanging wall or footwall of the reef.

South Africa

 

The Mineral Resources exclusive of Ore Reserves tonnage decreased by 2.3% to 5,275.1 Mt (2011: 5,399.1 Mt), but the 4E content increased by 0.8% to 644.1 4E Moz (2011: 639.2 4E Moz), mainly owing to:

 

 

  • Platreef Mogalakwena Mine: In 2011 the elevated Platreef in localised areas to the west and below the original 2011 pit shell was reported. It was highlighted that conceptual pit shell evaluations had indicated that the pit could extend to the west and deeper to exploit some of these resources. During 2012 pit design test work has confirmed that these resources are open pitable. An additional 307.5 Mt equivalent to 23.4 Moz of Mineral Resources were converted to Ore Reserves (Cut 14).

 

 

  • Tumela, Twickenham and Siphumelele Merensky and UG2 Reef: Conversion reallocation of previously reported Ore Reserve back to Mineral Resources owing to economic assumptions together with an increase in the minimum Resource Cut (change in mine layout) and new information resulted in a significant increase of the resources: +173.6 Mt ? +31.2 4E Moz.

South Africa

 

The waterfall chart is based on the total of Measured, Indicated and Inferred Mineral Resources.

 

 

18202

BY REEF

 

 

Merensky Reef

 

The Merensky Mineral Resource tonnage increased by 4.8% to 1,053.5 Mt (2011: 1,005.4 Mt) and the 4E ounce content increased by 4.2% to 180.3 Moz (2011: 173.0 Moz) mainly as a result of the following:

 

 

  • Tumela and Siphumelele mines: Reallocation of previously reported Ore Reserves back to Mineral Resources primarily owing to economic assumptions and secondly owing to the increase in the minimum Resource Cut (change in mine layout) and new information: +44.2 Mt ? +8.8 4E Moz.

UG2 Reef

 

The UG2 Mineral Resource tonnage increased by 8.4% to 1,743.7 Mt (2011: 1,608.2 Mt) and the 4E ounce content increased by 7.7% to 292.1 Moz (2011: 271.2 Moz) mainly as a result of the following:

 

 

  • Tumela, Twickenham and Siphumelele mines: Reallocation of previously reported Ore Reserves back to Mineral Resources primarily owing to economic assumptions and secondly owing to the increase in the minimum Resource Cut (change in mine layout) and new information: +129.3 Mt ? +22.4 4E Moz.

 

 

  • Pandora Mine: New information resulted in a decrease of the geological loss, which resulted in an increase of the Mineral Resources: +11.5 Mt ? +2.5 4E Moz.

 

 

The increase in tonnage and content is mainly offset by the decrease of Mineral Resources from Union South Mine (Spud Shaft) where additional Mineral Resources were converted to Ore Reserves between Levels 23 and 27: -12.8 Mt ? -2.4 Moz.

Platreef

 

The 1.0 g/t 4E cut-off grade that has been used is unchanged from previous reporting.

 

 

Owing to additional conversion the Mineral Resources tonnage decreased by 11% to 2,478.2 Mt (2011: 2,785.4 Mt) and the 4E ounce content decreased by 12% to 171.7 Moz (2011: 195.0 Moz).

 

 

For the Mogalakwena Mine resource footnotes see additional comments on page 127.

 

 

The Resource statement includes stockpiled material from the opencast operation that consists of calcsilicate and oxidised material with a cut-off grade of +3 g/t 4E. That material is included in the resource statement (5.5 Mt ? 0.6 Moz).

Main Sulphide Zone (MSZ)

 

MSZ is the ore body mined at Unki Platinum Mine. As of 2010, Amplats currently owns an effective 100% interest in Southridge Limited subject to the finalisation of the indigenisation agreement.

 

 

During 2011, a new Resource evaluation was completed covering Unki South, Helvetia, Paarl, KV and SR projects (contained within the special mining lease held by Southridge Limited). An independent external review of these Mineral Resources was completed during the first quarter of 2012.

 

 

Note: The 2011 annual report disclosed the Mineral Resources of the Unki East and West mines. For the 2012 annual report all projects are now incorporated in the Mineral Resources. As a consequence the Mineral Resource tonnage exclusive of Ore Reserves increased significantly by 134% to 186.2 Mt (2011: 79.5 Mt) and the 4E ounce content increased significantly by 147% to 26.0 Moz (2011: 10.5 Moz). The Mineral Resource breakdown of the additional individual projects is as follows: Paarl: +63.6 Mt ? +9.2 Moz, Unki South: +27.6 Mt ? +3.9 Moz, Helvetia: +23.5 Mt ? +3.6 Moz, KV-block: +8.1 Mt ? +1.3 Moz, SR-block: +1.0 Mt ? +0.2 Moz.

 

 

The KV and SR-block are located approximately 65 km to the south of Helvetia.

 

 

Until the completion of mining studies the individual additional projects are evaluated on a 120 cm Resource Cut. Unki East and West are evaluated on a 180 cm Resource Cut as mining studies have either been completed or are well advanced to support trackless mining.

 

 

The higher MSZ grades are due to the contribution of resources over a higher grade 120 cm Resource Cut.

 

 

The increase in tonnage and content is offset by the decrease of Mineral Resource owing to additional conversion of Mineral Resources to Ore Reserves at the Unki East Mine. See appropriate footnotes in the MSZ reserve section on page 122. Oxidised material is not considered.

Tailings

 

Operating tailings dams are not evaluated and therefore not reported as part of the Mineral Resources. At Rustenburg and Union mines dormant dams have been evaluated and are separately reported as tailings Mineral Resources. A dormant tailings dam at Amandelbult has been evaluated in 2012, but will only be declared as Mineral Resources in 2013 after the completion of the modelling report.

By mine/project exclusive of Ore Reserves (4E)

MINERAL RESOURCES

By mine/project exclusive of Ore Reserves (4E)

The figures in the table below represent Anglo American Platinum Limited’s (Amplats) attributable interests:

table8 table9 table12 table13

 

MINERAL RESOURCES EXCLUSIVE OF ORE RESERVES FOOTNOTES BY MINE/PROJECT

General

 

1 For reconciliation purposes the Mineral Resources from the individual mines Khuseleka, Thembelani, Khomanani, Siphumelele (includes Siphumelele 1, 2 and 3) and Bathopele have been tabulated to enable a comparison with the previously reported Rustenburg Mine. Additional Mineral Resources outside the five mines and within the original Rustenburg mine lease area are included under ‘Rustenburg non-mine projects’. The total of the five mines and the ‘Rustenburg non-mine project’ is equivalent to the total Rustenburg area. In several instances the 2012 mine boundaries do not correspond with the previous year. During 2012, some significant individual mine boundaries changes occurred.

 

 

2 For reconciliation purposes the Mineral Resources from the individual mines Tumela and Dishaba have been tabulated to enable a comparison with the previously reported Amandelbult Mine.

 

 

3 During 2011, Union Mine was split into two mines: Union North and Union South. For this annual report only the combined mine information is presented.

 

 

Rounding of figures may result in computational discrepancies. 4E grade reported: sum of platinum, palladium, rhodium and gold grades.

 

 

The Mineral Resources are quoted exclusive of Ore Reserves and after geological losses.

 

 

For the Boikgantsho, Sheba’s Ridge and Pedra Branca Project see page 142.

Rustenburg mines

 

Merensky Reef

 

 

The Mineral Resource tonnage increased by 26% to 98.6 Mt (2011: 78.1 Mt) and the 4E ounce content increased by 12% to 18.4 Moz (2011: 16.5 Moz) mainly owing to the following:

 

 

  • Reallocation of previously reported Ore Reserves back to Mineral Resources owing to economic assumptions at Siphumelele 1 Mine, and an increase in the minimum Resource Cut owing to the introduction of an improved support system in order to reduce rock-related accidents. As a result of the increase in the minimum Resource Cut, the grade decreased from 6.55 g/t to 5.79 g/t.

 

 

UG2 Reef

 

 

The Mineral Resource tonnage increased by 17% to 248.3 Mt (2011: 212.0 Mt) and the 4E ounce content increased by 4.5% to 37.7 Moz (2011: 36.1 Moz) mainly owing to the following reasons:

 

 

  • Reallocation of previously reported Ore Reserves back to Mineral Resources owing to economic assumptions at Siphumelele 2 Mine (School of Mines) and an increase in the minimum Resource Cut (see Merensky Reef statement). As a result of the increase in minimum Resource Cut the grade decreased from 5.29 g/t to 4.72 g/t.

Tumela Mine

 

Owing to the replanning of the 4-shaft area (economic assumptions), previously reported Ore Reserves have been reallocated back to Mineral Resources. This resulted in a significant increase of the Mineral Resources.

 

 

Merensky Reef

 

 

The Mineral Resource tonnage increased by 32% to 148.8 Mt (2011: 113.0 Mt) and the 4E ounce content increased by 24% to 37.2 Moz (2011: 30.0 Moz) mainly owing to economic assumptions and secondly owing to the increase in minimum Resource Cut. As a result of the increase in minimum Resource Cut the grade decreased from 8.26 g/t to 7.78 g/t.

 

 

UG2 Reef

 

 

The Mineral Resource tonnage increased by 36% to 249.2 Mt (2011: 182.9 Mt) and the 4E ounce content increased by 36% to 45.1 Moz (2011: 33.2 Moz) mainly owing to economic assumptions and secondly owing to a decrease of the geological loss.

Dishaba Mine

 

Merensky Reef

 

 

The Mineral Resource tonnage decreased by 11% to 29.2 Mt (2011: 32.7 Mt) and the 4E ounce content decreased by 17% to 6.5 Moz (2011: 7.8 Moz) mainly owing to the following:

 

 

  • Removing of Mineral Resources in structurally complex areas: -2.1 Mt ? -0.5 Moz. These resources have been downgraded to Mineral Deposit.

 

 

  • Reconciliation adjustment of -0.9 Mt ? -0.4 Moz owing to a previous reporting inconsistency in the resource footprint.

 

 

UG2 Reef

 

 

The Mineral Resource tonnage decreased by 9.3% to 43.2 Mt (2011: 47.6 Mt) and the 4E ounce content decreased by 9.1% to 7.9 Moz (2011: 8.7 Moz) mainly owing to a reconciliation adjustment of -5.6 Mt ? -1.0 Moz owing to a previous reporting inconsistency in the resource footprint.

Union mines

 

Amplats’ attributable interest is 85%. The figures quoted are for the attributable interest only.

 

 

Merensky Reef

 

 

The Mineral Resource tonnage decreased marginally by 0.4% to 71.0 Mt (2011: 71.3 Mt) and the 4E ounce content decreased marginally by 0.1% to 14.2 Moz (2011: 14.2 Moz).

 

 

UG2 Reef

 

 

The Mineral Resource tonnage decreased by 17% to 76.8 Mt (2011: 92.1 Mt) and the 4E ounce content decreased by 17% to 14.1 Moz (2011: 17.0 Moz) mainly as a result of conversion of Mineral Resources to Ore Reserves (Spud shaft) and some downgrading of Mineral Resources to Mineral Deposit. The conversion accounts for: -12.8 Mt ?-2.4 Moz and the downgrading accounts for: -2.5 Mt ?-0.5 Moz.

Twickenham Platinum Mine

 

Merensky Reef

 

 

The Mineral Resources are unchanged from 2011.

 

 

UG2 Reef

 

 

Owing to economic assumptions the Ore Reserve tonnage decreased significantly and as a consequence previously reported reserves have been reallocated back to resources. The Mineral Resource tonnage increased by 31% to 183.6 Mt (2011: 139.8 Mt) and the 4E ounce content increased by 34% to 34.7 Moz (2011: 25.9 Moz).

 

Modikwa Platinum Mine

 

Amplats’ attributable interest is 50%. The figures quoted are as at end of December 2012 and reflect the attributable interest only.

 

 

Merensky Reef

 

 

The Mineral Resources are unchanged from 2011.

 

 

UG2 Reef

 

 

The Mineral Resource tonnage decreased marginally by 0.5% to 109.2 Mt (2011: 109.8 Mt) and the 4E ounce content decreased marginally by 0.6% to 21.2 Moz (2011: 21.0 Moz) mainly as a result of lower geological losses.

Kroondal Platinum Mine

 

Amplats’ attributable interest is 50%. The figures quoted are as at end of June 2012 and reflect the attributable interest only. UG2 Reef figures are as per the Kroondal PSA, managed by Aquarius Platinum South Africa.

 

 

UG2 Reef

 

 

The Mineral Resource tonnage decreased by 47% to 1.1 Mt (2011: 2.1 Mt) and the 4E ounce content decreased by 30% to 0.2 Moz (2011: 0.3 Moz) owing to additional conversion of Mineral Resources to Ore Reserves.

Marikana Platinum Mine

 

Amplats’ attributable interest is 50%. The figures quoted are as at end of June 2012 and reflect the attributable interest only. UG2 Reef figures are as per the Marikana PSA, managed by Aquarius Platinum South Africa.

 

 

UG2 Reef

 

 

The Mineral Resource tonnage increased by 3.5% to 6.7 Mt (2011: 6.5 Mt) and the 4E ounce content increased by 5.2% to 0.9 Moz (2011: 0.8 Moz).

Mototolo Platinum Mine

 

Amplats’ attributable interest is 50%. The figures quoted are as at end of December 2012 and reflect the attributable interest only. UG2 Reef figures are provided by Xstrata Alloys.

 

 

UG2 Reef

 

 

The Mineral Resource tonnage decreased by 5.0% to 12.1 Mt (2011: 12.7 Mt) and the 4E ounce content decreased by 2.9% to 1.7 Moz (2011: 1.8 Moz) mainly owing to conversion of Mineral Resources to Ore Reserves.

Bafokeng-Rasimone 
Platinum Mine

 

Amplats’ attributable interest is 33%. The figures quoted are as at end of December 2012 and reflect the attributable interest only.

 

Merensky Reef

 

 

The Mineral Resource tonnage decreased by 13% to 33.3 Mt (2011: 38.4 Mt) and the 4E ounce content decreased by 5.8% to 8.1 Moz (2011: 8.7 Moz) mainly owing to new information which resulted in a reinterpretation of the geological facies boundaries and in a global decrease in the Resource Cut. The grade increased by 0.60 g/t from 7.01 g/t to 7.61 g/t.

 

 

UG2 Reef

 

 

The Mineral Resource tonnage increased by 2.8% to 49.7 Mt (2011: 48.3 Mt) and the 4E ounce content increased by 0.7% to 8.3 Moz (2011: 8.3 Moz) owing to new information.

Bokoni Platinum Mine

 

Amplats’ attributable interest is 49%. The figures quoted are as at end of December 2012 and reflect the attributable interest only. Figures provided by Atlatsa Resources.

 

 

The 2012 Resource declaration is based on the 2011 model adjusted for the 2012 depletion due to the delay in the completion of the Life-of-Mine plan as a result of the refinancing transaction being finalised between Amplats and Atlatsa and the disruption caused by the three-month illegal industrial action.

Der Brochen Project

 

Merensky Reef

 

 

The Mineral Resources are unchanged from 2011.

 

 

UG2 Reef

 

 

Reinterpretation of the split reef area and reassessment of the geological structure has driven minor changes in the Resource declaration: The Mineral Resource tonnage decreased by 0.7% to 397.7 Mt (2011: 400.9 Mt) and the 4E ounce content decreased by 0.1% to 51.3 Moz (2011: 51.4 Moz).

Ga-Phasha PGM Project

 

Amplats’ attributable interest is 49%. The figures quoted are as at end of December 2012 and reflect the attributable interest only.

 

 

The Mineral Resources for both reefs are derived from the 2011 resource model.

 

 

As a requirement of the pending transaction between Atlatsa and Amplats, Technical Reports (Competent Persons Report and 
NI 43–101) were filed in July 2012 with the JSE and TSX-V that contained the latest Resource Estimates (2011) at the time. An update of the Ga-Phasha Resources is currently being undertaken and will only be completed with the accompanying technical reports early in 2013.

Pandora

 

Amplats’ attributable interest is 42.5%. The figures quoted are as at end of September 2012 and reflect the attributable interest only. UG2 Reef figures provided by Lonmin plc.

 

 

Extensive exploration together with other information resulted in a significant decrease of the geological losses. As a result the Mineral Resource tonnage increased by 19% to 70.8 Mt (2011: 59.3 Mt) and the 4E ounce content increased by 30% to 10.6 Moz (2011: 8.1 Moz). The grade increased from 4.25 g/t to 4.65 g/t.

 

 

Additionally, the resource confidence increased significantly, reducing the Inferred Mineral Resources from 42.1 Mt to 9.7 Mt. As a result, the Indicated Mineral Resource increased from 14.1 Mt to 54.5 Mt.

Magazynskraal

 

Amplats’ attributable interest is 20%. The figures quoted are as at end of December 2012 and reflect the attributable interest only. Reef figures are provided by Pallinghurst.

 

 

The Mineral Resources of both reefs are unchanged from 2011.

Other exploration projects

 

Amplats’ attributable interest for portion of Driekop 253 KT (UG2 Reef) is 50% and for different portions of Hoedspruit 298 JQ it varies between 37.5% and 100%. The figures quoted are for the attributable interest only.

By reef inclusive of Ore Reserves (4E)

MINERAL RESOURCES

By reef inclusive of Ore Reserves (4E)

The figures in the table below represent Anglo American Platinum Limited’s (Amplats) attributable interests: 

table23 table24  

MINERAL RESOURCES INCLUSIVE OF ORE RESERVES

General

 

Rounding of figures may result in computational discrepancies. 4E grade reported: sum of platinum, palladium, rhodium and gold grades.

 

 

The Mineral Resource tabulations are quoted inclusive of Ore Reserves and after geological losses.

South Africa

 

The Mineral Resources inclusive of Ore Reserves tonnage increased marginally by 1.1% to 6,957.1 Mt (2011: 6881.5 Mt) and the 4E content increased marginally by 0.4% to 844.8 4E Moz (2011: 841.2 4E Moz), mainly owing to:

 

 

  • Rustenburg mines: The minimum Resource Cut increased from 90 cm to 110 cm owing to the introduction of an improved support system in order to reduce rock-related accidents. As a result of the increased minimum Resource Cut the overall Merensky Reef and UG2 Reef tonnage increased and the overall grade decreased. Owing to the nature of the ore bodies within the Bushveld Complex, this change in the mine layout had mainly an impact on the Rustenburg operations. Despite production depletion, the overall increase is: +61.1 Mt => +0.8 4E Moz.

 

 

  • Tumela Mine: The change of the minimum Resource Cut together with a global decrease of the geological loss resulted in an increase of the Mineral Resource by: +19.0 Mt ? +2.7 4E Moz.

 

 

  • Pandora Mine: Extensive exploration together with other information resulted in a significant decrease of the geological losses. As a result the Mineral Resources increased by: +13.9 Mt ? +2.8 4E Moz.

 

 

These increases were in part offset by the decrease in Mineral Resources mainly from the following:

 

 

  • Other mines and projects owing to new information and/or depletion: -7.7 Mt ? -1.8 4E Moz.

 

 

  • Mogalakwena Platreef depletion: -10.8 Mt ? -1.0 4E Moz.

 

 

18233

Zimbabwe
Main Sulphide Zone (MSZ)

 

MSZ is the ore body mined at Unki Platinum Mine. As of 2010, Amplats owns an effective 100% interest in Southridge Limited, but it is subject to the finalisation of the indigenisation agreement.

 

 

During 2011, a new Resource evaluation was completed covering Unki South, Helvetia, Paarl, KV and SR projects (contained within the special mining lease held by Southridge Limited). An independent external review of these Mineral Resources was completed during the first quarter of 2012.

 

 

Note: The 2011 annual report disclosed the Mineral Resources of the Unki East and West mines. For the 2012 annual report all projects are now incorporated in the Mineral Resources. As a consequence the Mineral Resource tonnage inclusive of Ore Reserves increased significantly by 99% to 246.1 Mt (2011: 123.4 Mt) and the 4E ounce content increased significantly by 105% to 34.0 Moz (2011: 16.6 Moz). For more information refer to page 128.

 

By mine/project inclusive of Ore Reserves (4E)

MINERAL RESOURCES

By mine/project inclusive of Ore Reserves (4E)

The figures in the table below represent Anglo American Platinum Limited’s (Amplats) attributable interests:

  table16 table17  

table18 table19

General

 

Rounding of figures may result in computational discrepancies. 4E grade reported: sum of platinum, palladium, rhodium and gold grades.

 

 

 

 

 

Prill and base metal estimates

 

 

The prill % distribution (platinum, palladium, rhodium and gold %) and the base metal grades (copper, nickel) are based on the modelled and evaluated information and are quoted over the Resource Cut.

table20 table21

 

 

 

 

 

 

Chromite estimates

 

 

Where economically viable chromite is produced as a by-product from mining of the UG2 horizon. Two chrome recovery plants are in operation: at Union South Mine and in Rustenburg at the Waterfall concentrator complex. Typically yields are 9% to 12% by mass feed resulting in roughly a 70/30 split between metallurgical and chemical grade concentrate.

 

  

MINERAL RESOURCE CLASSIFICATIONS (4E)

MINERAL RESOURCE CLASSIFICATIONS

Rustenburg Merensky

18254

Amandelbult Merensky

16405

Union Merensky

16407

Rustenburg UG2

16404

Amandelbult UG2

16406

Union UG2

16408

Mogalakwena Platreef

14104

Twickenham Merensky

14158

Der Brochen Merensky

14184

Unki Mines and projects (MSZ)

14208

Twickenham UG2

14209

Der Brochen UG2

14211

By project inclusive of Ore Reserves (3E)

MINERAL RESOURCES

By project inclusive of Ore Reserves (3E)

The figures in the table below represent Anglo American Platinum Limited’s (Amplats) attributable interests:

  table22

Rounding of figures may result in computational discrepancies. Figures not included in the global Mineral Resource summary. 3E grade reported: sum of platinum, palladium and gold grades.

Boikgantsho

 

Amplats and Atlatsa Resources hold a 49% and 51% interest in Boikgantsho respectively. The figures quoted are for the attributable interest.

 

 

The Mineral Resources are unchanged from 2011. A cut-off grade of 1 g/t (3E) was applied as used at Mogalakwena (1 g/t 4E).

Sheba’s Ridge

 

Amplats, Industrial Development Corporation (IDC) and Aquarius South Africa hold a 35%, 26% and 39% interest in Sheba’s Ridge respectively. The figures quoted are for the attributable interest. The Mineral Resources are unchanged from 2011. A cut-off grade of 0.5 g/t (3E) was applied.

Pedra Branca

 

Amplats and Solitario hold a 51% and 49% interest in Pedra Branca respectively. The figure quoted is for the attributable interest.

 

 

The Mineral Resources are unchanged from 2011. A cut-off grade of 0.7 g/t (3E) was applied; estimate provided by Jon Hill, 2005.

 

 

During 2012, a new Resource evaluation has been undertaken, but the modelling report will only be available in the first quarter of 2013.

MINERAL DEPOSITS

  MINERAL DEPOSITS

 

General

 

In addition to the evaluated and reported Ore Reserves and Mineral Resources, Amplats holds various Mineral Deposits that are not publicly reported.

 

 

Different types of Mineral Deposits exist, either stockpiled material on surface or still in situ underground. This material requires studies to determine the potential economic value (reasonable and realistic prospects for eventual economic extraction).

Surface material

 

Surface material is subdivided into tailings dams, stockpiles or rock dumps.

 

 

Tailings dams

 

 

Tailings dams Ore Reserves and Mineral Resources, where evaluated, are already reported in the relevant Ore Reserve and Mineral Resource statement.

 

 

  • Tailings dams Mineral Deposit: Operating (active) tailings dams for current mining operations are not evaluated and therefore are not reported as part of the Mineral Resources. They contain residual amounts of PGE and base metals and are registered internally in Amplats’ asset books. Currently significant Mineral Deposits are available at the following operations:

 

 

  • Rustenburg mines, Amandelbult mines, Mogalakwena Mine, Union mines and BRPM, and in the East Bushveld at Modikwa, Mototolo and Bokoni mines.

 

 

Stockpiles

 

 

Stockpiles are mined ore being held for future treatment. Currently only Mogalakwena reports Ore Reserve and Mineral Resource stockpiles. These Ore Reserves and Mineral Resources are already reported in the relevant Ore Reserve and Mineral Resource statement.

 

 

Rock dumps

 

 

Rock dumps are not evaluated and are currently not reported under the Ore Reserve and Mineral Resource statement.

 

 

Exploitation of several rock dumps at Rustenburg mines have been contracted to external private companies who are removing/depleting the rock dumps in an effort to rehabilitate the land or for crushing or building purposes.

 

 

Evaluation of low-grade rock dumps not contracted to external companies is ongoing. They contain various amounts of PGE and base metals and are recorded internally. Currently Mineral Deposits have been identified at Rustenburg, Amandelbult and Union mines. However, minor rock dumps also exist on other operations.

Underground in situ material

 

It must be noted that the Mineral Resources are quoted over the entire Mining Right and Prospecting Right areas except for:

 

 

  • Mogalakwena Mine, where the Mineral Resources are only quoted down to potential future surface mining depths, and for

 

 

  • Tumela Mine, Twickenham Mine, Ga-Phasha Project where a virgin rock temperature of 75 °C is currently considered to be the limit to mining given present technology, metal prices and energy costs. Areas higher than the 75 °C are currently classified as Mineral Deposits.

 

DEFINITION FOR WATERFALL CHARTS

DEFINITION FOR WATERFALL CHARTS

Opening balance

 

As at 31 December 2011.

Production

 

The quantity of the commodity delivered for beneficiation from underground or open-pit including material from stockpiles (mine depletion during the financial year).

Depletion

 

The amount of resource material removed during the reporting period.

Conversion

 

Process of converting Mineral Resources to Ore Reserves.

Conversion reallocation

 

Process of ‘down-grading’ of Ore Reserves to Mineral Resources.

Economic assumptions

 

Any assumption based on the current or future price of a commodity and associated exchange rates which has a direct impact on the Mineral Resources or Ore Reserves.

Mine layout change
(change in mining layout and design)

 

The minimum Resource Cut increased from 90 cm to 110 cm owing to the introduction of an improved support system in order to reduce rock-related accidents. The new support system consists of in-stope tendons and netting and the dimension of the installation equipment and support units necessitated an increase in the Resource Cut.

Acquisition

 

Additional Ore Reserves/Mineral Resources owing to acquisitions of assets or additional attributable interests owing to joint-venture agreements (property transactions).

New information

 

The effect of additional resource definition information, which initiates an update to the geological models (facies, structural, grade, geotechnical) and results in a new (reclassified) resource model.

Model refinement

 

No additional resource definition drilling has been undertaken, but the interpretation (geometry) of the orebody has been refined or internal mine/lease boundaries have changed. Changes to in-situ tonnages may be as a result of new geological losses being applied or a change to the definition of the boundary of the Mineral Resources owing to an updated ‘economically mineable cut’ being applied.

Reconciliation adjustment

 

Changes which cannot be allocated to a specific category or an adjustment that may be necessary to mitigate inaccurate production/depletion estimates of the previous year.

Closing balance

 

As at 31 December 2012.

4E Moz

 

4E million troy ounces.