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Mineral Resources and Mineral Reserves
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Summary

The reporting of Mineral Resources and Mineral Reserves for Implats’ South African operations is done in accordance with the principles and guidelines of the South African Code for Reporting of Mineral Resources and Mineral Reserves (SAMREC Code). Zimplats, as an Australian Securities Exchange-listed company, reports its Mineral Resources and Ore Reserves in accordance with the Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC Code), as does Mimosa. The definitions contained in the SAMREC Code are either identical to or not materially different from international definitions. Mineral Resources are inclusive of Mineral Reserves, unless otherwise stated.

Since 1969 when production began at the Impala mine area, the Company has grown the mineral Resource portfolio and related platinum production significantly. Implats and its associated companies continue to exploit platiniferous horizons within the largest known deposit of platinum group minerals in the world, namely the Bushveld Complex in South Africa but also the second largest world- class deposit namely the Great Dyke in Zimbabwe. Mining mostly takes place as underground operations focusing on relatively narrow, mineralised horizons with the specific methods adapted to suit the local geology and morphology of the mineralised horizons. The Mineral Resources and Mineral Reserves are geographically spread but are dominated by the Mineral Resources at Impala and Zimplats.

Key features

Main features relating to Implats’ Mineral Resources and Mineral Reserves as at 30 June 2010 relative to 30 June 2009 are:
  • Estimated total attributable Mineral Resources decreased by five million platinum ounces to 225 million platinum ounces from 230 million platinum ounces
  • Total attributable Group Mineral Reserves decreased by 0.5 million platinum ounces to 36.9 million platinum ounces from 37.4 million platinum ounces
  • Introduction of a new Group-wide standard protocol for the estimation, classification and reporting of Mineral Resources and Reserves
  • As a consequence there were material changes in the classification of Mineral Resources and decreases due to the introduction of a depth cut-off
  • Completion of a Group-wide audit of the Mineral Resources and Reserves by an independent third party
  • A re-estimation of the Marula Merensky Reef Mineral Resources resulting in a material decrease
  • Addition of Impala/RBR joint venture Mineral Resources following initial prospecting

Attributable platinum ounces, net of depletion, corporate activity and additional work  
  30 June 2007       Resources   187Moz Pt   2% increase, Afplats included  
    Reserves   40Moz Pt   8% increase, Afplats included  
  30 June 2008       Resources   237Moz Pt   27% increase, Tamboti added, reporting principle adjusted  
    Reserves   42Moz Pt   5% increase, progression of 17 Shaft to reserves  
  30 June 2009       Resources   230Moz Pt   3% decrease, complex graben at Impala excluded  
    Reserves   37.4Moz Pt   12% decrease, Afplats excluded  
  30 June 2010       Resources   225Moz Pt   2% decrease, mostly due to introduction of depth cut-off  
    Reserves   36.9Moz Pt   No material changes  

Attributable Mineral Resources  
Attributable Mineral Resources inclusive of Mineral Reserves as at 30 June 2010  
  Orebody   Category   Attributable
tonnes
(Mt) 		 Grade (g/t)  
5PGE+Au  		 Implats  
%  
ownership  		 Attributable  
ounces  
Pt  
(Moz)  
Impala   Merensky   Measured   136.2   6.82   100   16.9  
    Indicated   63.6   6.76   100   7.8  
    Inferred   78.5   6.21   100   8.9  
  UG2   Measured   132.2   8.87   100   18.1  
    Indicated   48.8   8.44   100   6.4  
    Inferred   53.4   8.38   100   6.9  
Impala/RBR JV   Merensky   Measured   1.6   6.98   49   0.2  
    Indicated   3.6   6.51   49   0.4  
    Inferred   10.5   7.23   49   1.4  
  UG2   Measured   1.1   9.13   49   0.2  
    Indicated   1.0   9.20   49   0.1  
    Inferred   5.5   8.96   49   0.8  
  Total     536   7.57     68.0  
Marula   Merensky   Measured   14.1   4.77   73   1.2  
    Indicated   11.0   4.49   73   0.9  
    Inferred   13.5   4.30   73   1.0  
  UG2   Measured   19.4   9.64   73   2.2  
    Indicated   12.3   10.22   73   1.5  
    Inferred   6.7   10.35   73   0.8  
  Total     77   7.23     7.6  
Afplats Leeuwkop   UG2   Measured   48.2   6.63   74   5.1  
    Indicated   8.2   6.72   74   0.9  
    Inferred   64.0   6.34   74   6.4  
Kareepoort/Wolwekraal     Indicated   8.2   6.48   74   0.8  
    Inferred   17.5   6.23   74   1.7  
Imbasa     Indicated   5.7   5.65   60   0.5  
    Inferred   32.0   6.10   60   3.1  
Inkosi     Indicated   11.8   6.18   49   1.2  
    Inferred   36.6   6.09   49   3.5  
Afplats   Total     232   6.28     23.2  
Two Rivers   Merensky   Indicated   8.4   3.55   45   0.5  
    Inferred   1.8   3.36   45   0.1  
  UG2   Measured   4.0   5.43   45   0.3  
    Indicated   21.1   4.53   45   1.4  
    Inferred   0.5   6.26   45   0.05  
  Total     36   4.37     2.4  
Tamboti   Merensky   Inferred   141.1   4.11   100   10.2  
  UG2   Inferred   177.6   6.65   100   16.9  
  Total     319   5.52     27.1  
             
Attributable Mineral Resources inclusive of Mineral Reserves as at 30 June 2010  
  Orebody   Category   Attributable
tonnes
(Mt) 		 Grade (g/t)  
5PGE+Au  		 Implats  
%  
ownership  		 Attributable  
ounces  
Pt  
(Moz)  
Zimplats   MSZ   Measured   119.4   3.90   87   7.0  
    Indicated   582.7   3.90   87   34.4  
    Inferred   933.0   3.78   87   51.4  
  Total     1 635   3.83     92.9  
Mimosa   MSZ   Measured   19.2   4.26   50   1.2  
    Indicated   17.4   3.71   50   0.9  
    Inferred   3.5   4.09   50   0.2  
    Inferred (oxides)  3.3   3.95   50   0.2  
    Inferred N Hill   24.3   3.90   50   1.4  
  Total     68   4.01     3.9  
All   Total     2 902   5.01     225  

Notes
  • Attributable Mineral Resources as expressed in tonnes and platinum ounces are based on Implats’ equity interest
  • Mineral Resource tonnage and grades are estimated in situ. Mineral Resources for the Merensky Reef are estimated at a minimum mining width and may include mineralisation below the selected cut-off grade
  • Mineral Resource estimates for the UG2 Reef reflect the chromitite channel widths only and do not include any dilution
  • Mineral Resource estimates for the Main Sulphide Zone (MSZ) are based on optimal mining widths
  • These are summary estimates, and inaccuracy is derived from the rounding of numbers
  • The largest proportion of the Group attributable Mineral Resources originates from the MSZ
 
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