Anglo American Annual Report 2012

ORE RESERVES AND MINERAL RESOURCESPLATINUM GROUP METALSestimates as at 31 December 2012PLATINUMThe Ore Reserve and Mineral Resource estimates were compiled in compliance with The South African Code for the Reporting of Exploration Results,Mineral Resources and Mineral Reserves (The SAMREC Code, 2007 Edition as amended July 2009). Operations and Projects outside South Africa werecompiled in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, 2004) as aminimum standard. Details of the individual operations appear in Anglo American Platinum’s Annual Report. Merensky Reef and UG2 Reef Mineral Resourcesare reported over an economic and mineable cut appropriate to the specific reef. The figures reported represent 100% of the Mineral Resources and OreReserves attributable to Anglo American Platinum Limited unless otherwise noted. Rounding of figures may cause computational discrepancies.The Mineral Resource and Ore Reserve tables reflect estimates prior to the strategic announcement in January 2013. Changes associated with the strategicreview will most probably result in a reallocation of reported Ore Reserves to Mineral Resources in the Rustenburg and Union areas and the impact thereof willonly be reflected in the 2013 Annual Report.Anglo American plc’s interest in Anglo American Platinum Limited is 79.9%.Platinum – South Africa Operations Tonnes (1) Grade (2) Contained Metal (3) Contained MetalORE RESERVES Classification 2012 2011 2012 2011 2012 2011 2012 2011Merensky Reef (4)(5) Mt Mt 4E PGE 4E PGE 4E tonnes 4E tonnes 4E Moz 4E MozProved 59.8 63.9 4.79 5.05 286.5 322.7 9.2 10.4Probable 22.5 49.1 4.49 5.16 100.9 253.4 3.2 8.1Total 82.3 113.0 4.71 5.10 387.4 576.2 12.5 18.5UG2 Reef (4)(6) Proved 389.8 390.7 4.05 4.10 1,578.7 1,600.7 50.8 51.5Probable 128.6 250.0 4.46 4.78 573.6 1,194.1 18.4 38.4Total 518.4 640.7 4.15 4.36 2,152.3 2,794.8 69.2 89.9Platreef (7) Proved 587.5 538.8 2.75 2.84 1,617.3 1,532.3 52.0 49.3Proved primary ore stockpile (8) 26.7 20.0 1.72 1.71 46.0 34.3 1.5 1.1Probable 394.6 166.5 2.81 3.24 1,108.2 539.9 35.6 17.4Total 1,008.9 725.4 2.75 2.90 2,771.5 2,106.6 89.1 67.7All Reefs Proved 1,063.9 1,013.4 3.32 3.44 3,528.5 3,490.1 113.4 112.2Probable 545.7 465.7 3.27 4.27 1,782.7 1,987.4 57.3 63.9Total (9) 1,609.6 1,479.1 3.30 3.70 5,311.2 5,477.5 170.8 176.1Tailings (10) Proved – – – – – – – –Probable 15.9 18.9 1.02 0.86 16.1 16.2 0.5 0.5Total 15.9 18.9 1.02 0.86 16.1 16.2 0.5 0.5Platinum – Zimbabwe Operations Tonnes (1) Grade (2) Contained Metal (3) Contained MetalORE RESERVES Classification 2012 2011 2012 2011 2012 2011 2012 2011Main Sulphide Zone (11) (12) (13) Mt Mt 4E PGE 4E PGE 4E tonnes 4E tonnes 4E Moz 4E MozProved 13.9 15.0 3.85 3.68 53.4 55.2 1.7 1.8Probable 39.8 23.7 3.73 3.85 148.5 91.2 4.8 2.9Total 53.7 38.7 3.76 3.79 201.9 146.5 6.5 4.7(1)Tonnes: Quoted as dry metric tonnes.(2)Grade: 4E PGE is the sum of Platinum, Palladium, Rhodium and Gold grades in grammes per tonne (g/t). The reported grades are as delivered for treatment.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%.(3)Contained Metal: Contained Metal is presented in metric tonnes and million troy ounces (Moz).(4)Merensky Reef and UG2 Reef: The pay limits built into the basic mining equation are directly linked to the 2013 Business plan prior to the strategic review announcement made in January 2013. Thepay 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 reserve pay-limit varies across alloperations between 2.0g/t and 5.6g/t (4E PGE). The range is a function of various factors including depth of the ore body, geological complexity, infrastructure and economic parameters.(5)Merensky Reef: The global Ore Reserve tonnage and 4E ounce content decreased, mainly in response to economic assumptions resulting in reallocation of Ore Reserves to Mineral Resources atTumela Mine and Siphumelele 1 Mine. These decreases were partially offset by the increase in Ore Reserves mainly from Khuseleka Mine and Union South Mine where additional Mineral Resourceshave been converted to Ore Reserves. The global Ore Reserve grade decreased following the increase of the minimum resource cut from 90cm to 110cm due to improved rock support measures.(6)UG2 Reef: The global Ore Reserve tonnage and 4E ounce content decreased largely due to economic assumptions and the resulting reallocation of Ore Reserves to Mineral Resources at TumelaMine, Twickenham Mine and Siphumelele 2 Mine. These decreases were partially offset by the increase in Ore Reserves from Union South Mine, Siphumelele 1 Mine, Kroondal Mine, Marikana Mineand Modikwa Mine where Mineral Resources have been converted to Ore Reserves. The global Ore Reserve grade decreased following the increase of the minimum resource cut from 90cm to 110cmdue to an improved rock support measures.(7)Platreef: The Ore Reserves tonnage and 4E ounce content increased as a result of a revised pit design. Geotechnical study will commence in 2013 to validate the optimum pit design and increasedmining depth. For Mogalakwena North, Central and South the 4E pay limit is 1.0 g/t. For Sandsloot and Zwartfontein South the pay limit is 1.7 g/t.(8)Platreef stockpiles: Mined ore retained for future treatment. These are reported separately as Proved Ore Reserves and aggregated into the summation tabulations.(9)Alternative units – All Reefs Total: Tonnage in million short tons (Mton) and associated grade in troy ounces per short ton (oz/ton) for 2012 is:Total – 1,774.3 Mton (2011: 1,630.4 Mton)Total – 0.096 oz/ton (2011: 0.108 oz/ton)(10)Tailings: Operating tailings dams are not evaluated and therefore not reported as part of the Ore Reserves. At Rustenburg mines and at Union mines dormant tailings dams have been evaluated andare separately reported as tailings Ore Reserves.(11)Main Sulphide Zone: The Ore Reserve tonnage and 4E ounce content increased after the conversion of Mineral Resources to Ore Reserves, which followed an increase in resource confidence basedon new drilling information.(12)Main Sulphide Zone: Anglo American Platinum currently has an effective 100% interest in Unki Mine, subject to the finalisation of the indigenisation agreement.(13)Alternative units – Main Sulphide Zone: Tonnage in million short tons (Mton) and associated grade in troy ounces per short ton (oz/ton) for 2012 is:Total – 59.2 Mton (2011: 42.6 Mton)Total – 0.110 oz/ton (2011: 0.110 oz/ton)(3)(3)214 Anglo American plc Annual Report 2012