ore reserves and mineral resources 2011 report - Anglo American ...

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SECURING OUR FUTURE ORE RESERVE AND MINERAL RESOURCE ESTIMATES as at 31 December 2011 Mineral Resources exclusive of Ore Reserves footnotes Tumela Mine Merensky Reef The Mineral Resource tonnage decreased by 20% to 113.0 Mt (2010: 141.0 Mt) and the 4E ounce content decreased by 18% to 30.0 Moz (2010: 36.8 Moz) owing to the following reasons: Exclusion of previously reported Mineral Resources for portions of Goevernements Plaats 417 KQ where the virgin rock temperature is expected to be above 75° Celsius. For more explanations refer to virgin rock temperature above 75° Celsius (see page 174). 26.6 Mt 6.7 Moz are removed from the Mineral Resource statement and are reclassified to a Mineral Deposit level. Additionally reclassification of Mineral Resource to Mineral Deposit owing to structural complexity: -1.0 Mt - 0.3 Moz. The decrease in Mineral Resources is offset by a change in mine design and scheduling for portions of 4-shaft area where previously reported Ore Reserves have been reallocated back to Mineral Resources: +3.5 Mt + 0.95 Moz. UG2 Reef The Mineral Resource tonnage decreased by 15% to 182.9 Mt (2010: 216.2 Mt) and the 4E ounce content decreased by 15% to 33.2 Moz (2010: 39.3 Moz) owing to the following reasons: Exclusion of previously reported Mineral Resources for portions of Goevernements Plaats 417 KQ where the virgin rock temperature is above 75° Celsius. For more explanations refer to virgin rock temperature above 75° Celsius (see page 174). 36.6 Mt 6.7 Moz are removed from the Mineral Resource statement and are reclassified to a Mineral Deposit level. Additionally reclassification of Mineral Resource to Mineral Deposit owing to structural complexity and to adverse geotechnical conditions: -5.4 Mt - 0.9 Moz. The decrease in Mineral Resources is offset by a change in mine design and scheduling for portions of 4-shaft area and in areas with structurally complex geology where previously reported Ore Reserves have been reallocated back to Mineral Resources: +8.7 Mt + 1.6 Moz. Dishaba Mine Merensky Reef The Mineral Resource tonnage increased slightly by 1.6% to 32.7 Mt (2010: 32.2 Mt) but the 4E ounce content decreased by 2.7% to 7.8 Moz (2010: 8.1 Moz) mainly as a result of lower geological loss and a higher Resource Cut. UG2 Reef The Mineral Resource tonnage decreased by 8.2% to 47.6 Mt (2010: 51.9 Mt) and the 4E ounce content decreased by 8.8% to 8.7 Moz (2010: 9.5 Moz) mainly as a result of new information and some conversion of Mineral Resources to Ore Reserves. Union Mine Amplats’ attributable interest is 85%. The figures quoted are as at end of December 2011 and reflect the attributable interest only. Merensky Reef The Mineral Resource tonnage increased by 2.3% to 71.3 Mt (2010: 69.6 Mt) and the 4E ounce content increased by 2.4% to 14.2 Moz (2010: 13.9 Moz) mainly as a result of a lower geological loss. UG2 Reef The Mineral Resource tonnage decreased by 12% to 92.1 Mt (2010: 104.4 Mt) and the 4E ounce content decreased by 11% to 17.0 Moz (2010: 19.2 Moz) mainly as a result of new information and additional conversion of Mineral Resources to Ore Reserves. Mogalakwena Mine For the Mogalakwena Mine footnotes see Platreef comments on page 175. Twickenham Platinum Mine Merensky Reef The Mineral Resource tonnage increased by 1.0% from 161.4 Mt to 163.0 Mt (+1.7 Mt) but the 4E ounce content decreased by 6.6% from 26.2 Moz to 24.4 Moz (-1.7 Moz) owing to mine optimisation during 2011 which resulted in an increase of the Resource Cut. UG2 Reef The Mineral Resource tonnage decreased by 18% to 139.8 Mt (2010: 171.3 Mt) and the 4E ounce content decreased by 18% to 25.9 Moz (2010: 31.7 Moz) owing to the following reasons: Exclusion of previously reported Mineral Resources for portions of Balmoral 508 KS where the virgin rock temperature is expected to be above 75° Celsius. For more explanations refer to page 174. 22.4 Mt 4.0 Moz are removed from the Mineral Resource statement and are reclassified to a Mineral Deposit level. Conversion from Mineral Resources to Ore Reserves and an increase in geological loss: -9.1 Mt -1.8 Moz. Modikwa Platinum Mine Amplats’ attributable interest is 50%. The figures quoted are as at end of December 2011 and reflect the attributable interest only. Merensky Reef A new Resource evaluation was not required during 2011. The Mineral Resource Cut is based on the Cr to Cr Resource Cut, resulting in a tonnage of 104.4 Mt over 1.97 m 2.70 g/t and a 4E ounce content of 9.1 Moz. Within this Mineral Resource a potential optimum Resource over a 100 centimetres Resource Cut is available (53.3 Mt 7.6 Moz). UG2 Reef Lower geological losses resulted in an increase of the Mineral Resource tonnage by 1.3% to 109.8 Mt (2010: 108.3 Mt) and a 4E ounce content increase by 1.5% to 21.2 Moz (2010: 20.9 Moz). Kroondal Platinum Mine Amplats’ attributable interest in the JV is 50%. The figures quoted are as at end of June 2011 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 increased ninefold to 2.1 Mt (2010: 0.2 Mt) owing to reallocation of Ore Reserves back to Mineral Resources. 32 ANGLO AMERICAN PLATINUM LIMITED 2011
Marikana Platinum Mine Amplats’ attributable interest in the JV is 50%. The figures quoted are as at end of June 2011 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 54% to 6.5 Mt (2010: 4.2 Mt) and the 4E ounce content increased by 45% to 0.8 Moz (2010: 0.6 Moz) mainly owing to reallocation of previously reported Ore Reserves back to Mineral Resources. Mototolo Platinum Mine Amplats’ attributable interest is 50%. The figures quoted are as at end of December 2011 and reflect the attributable interest only. UG2 Reef figures are provided by Xstrata Alloys. It must be noted that the reporting cycle changed from end of June 2010 to end of December for 2011. UG2 Reef The Mineral Resource tonnage decreased by 8.4% to 12.7 Mt (2010: 13.9 Mt) and the 4E ounce content decreased by 8.5% to 1.8 Moz (2010: 2.0 Moz) mainly owing to production depletion. Bafokeng-Rasimone Platinum Mine Amplats’ attributable interest is 33%. The figures quoted are as at end of December 2011 and reflect the attributable interest only. Merensky Reef The Mineral Resource tonnage decreased by 2.2% to 38.4 Mt (2010: 39.2 Mt) but the 4E ounce content increased by 1.0% to 8.7 Moz (2010: 8.6 Moz) mainly owing to an increase in geological loss and a decrease in the Resource Cut. UG2 Reef The Mineral Resource tonnage decreased by 2.9% to 48.3 Mt (2010: 49.8 Mt) and the 4E ounce content decreased by 2.3% to 8.3 Moz (2010: 8.5 Moz) mainly owing to an increase in geological loss. Bokoni Platinum Mine Amplats’ attributable interest is 49%. The figures quoted are as at end of December 2011 and reflect the attributable interest only. Reef figures provided by Anooraq Resources. Der Brochen Project Merensky Reef and UG2 Reef The Mineral Resource tonnage increased marginally owing to reallocation of previously reported Ore Reserves back to Mineral Resources and owing to production depletion. Merensky Reef Reinterpretation of the structure resulted in a decrease of the geological loss. As a result the Mineral Resource tonnage and the 4E ounce content increased marginally. Securing our future Ga-Phasha PGM Project Pandora Magazynskraal Other exploration projects UG2 Reef Reinterpretation of the structure resulted in a decrease of the geological loss. This, together with a change in the mining method (from conventional to mechanised mining), resulted in an increase of the Resource Cut. As a consequence of the above, the Mineral Resource tonnage increased by 25% to 400.9 Mt (2010: 319.9 Mt) and the 4E ounce content increased by 5.7% to 51.4 Moz (2010: 48.6 Moz). The 4E grade decreased by 0.74 g/t from 4.72 g/t to 3.98 g/t. Amplats’ attributable interest is 49%. The figures quoted are as at end of December 2011 and reflect the attributable interest only. Merensky Reef The Mineral Resource tonnage decreased marginally owing to the exclusion of previously reported Mineral Resources of portions of Avoca 472 KS and De Kamp 507 KS where the virgin rock temperature is expected to be above 75° Celsius. For more explanations refer to page 174. UG2 Reef The Mineral Resource tonnage decreased by 28% to 109.5 Mt (2010: 152.4 Mt) and the 4E ounce content decreased by 29% to 21.5 Moz (2010: 30.1 Moz) owing to the exclusion of previously reported Mineral Resources of portions of Avoca 472 KS and De Kamp 507 KS where the virgin rock temperature is above 75° Celsius. For more explanations refer to page 174. 42.9 Mt 8.6 Moz are removed from the Mineral Resource statement and are reclassified to a Mineral Deposit level. Amplats’ attributable interest is 42.5%. The figures quoted are as at end of September 2011 and reflect the attributable interest only. UG2 Reef figures provided by Lonmin plc. A new Resource evaluation is in progress but will be available only in 2012. The Mineral Resource changed only marginally owing to production depletion. Amplats attributable interest is 20%. The figures quoted are as at end of December 2011 and reflect the attributable interest only. Reef figures are provided by Pallinghurst. Merensky Reef Based on new information the attributable Mineral Resource tonnage decreased by 23% to 7.2 Mt (2010: 9.4 Mt) and the 4E ounce content decreased by 36% to 1.3 Moz (2010: 2.0 Moz). The Resource classification confidence increased. UG2 Reef Based on new information the attributable Mineral Resource tonnage increased by 4.1% to 13.1 Mt (2010: 12.7 Mt) and the 4E ounce content increased by 4.4% to 2.0 Moz (2010: 1.9 Moz). The Resource classification confidence increased. Amplats’ attributable interest in Driekop 253 KT (UG2 Reef) is 50% and for different portions of Hoedspruit it varies between 37.5% and 100%. The figures quoted are for the attributable interest only. ANGLO AMERICAN PLATINUM LIMITED 2011 33
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