Anglo American Annual Report 2012

ORE RESERVES AND MINERAL RESOURCESPLATINUM GROUP METALSestimates as at 31 December 2012Platinum – South Africa Operations Tonnes (1) Grade (2) Contained Metal (3) Contained MetalMINERAL RESOURCES 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 MozMeasured 189.3 162.1 5.63 5.57 1,065.1 903.7 34.2 29.1Indicated 290.6 273.5 5.51 5.54 1,600.1 1,515.4 51.4 48.7Measured and Indicated 479.9 435.6 5.55 5.55 2,665.2 2,419.1 85.7 77.8Inferred (in LOM Plan) 9.8 22.7 6.33 8.05 62.1 182.7 2.0 5.9Inferred (ex. LOM Plan) 563.8 547.1 5.11 5.08 2,879.5 2,778.8 92.6 89.3Total Inferred 573.6 569.8 5.13 5.20 2,941.6 2,961.5 94.6 95.2UG2 Reef (4)(6) Measured 475.2 391.9 5.14 5.33 2,441.0 2,090.5 78.5 67.2Indicated 656.4 547.2 5.13 5.21 3,367.8 2,849.6 108.3 91.6Measured and Indicated 1,131.6 939.1 5.13 5.26 5,808.8 4,940.1 186.8 158.8Inferred (in LOM Plan) 7.3 9.0 5.23 4.97 38.3 44.9 1.2 1.4Inferred (ex. LOM Plan) 604.8 660.1 5.36 5.23 3,239.5 3,449.4 104.2 110.9Total Inferred 612.1 669.1 5.35 5.22 3,277.8 3,494.3 105.4 112.3Platreef (7) Measured 151.2 219.1 2.59 2.38 391.3 522.0 12.6 16.8Indicated 740.7 980.9 2.11 2.20 1,560.9 2,158.3 50.2 69.4Measured and Indicated 891.8 1,199.9 2.19 2.23 1,952.2 2,680.3 62.8 86.2Inferred (in LOM Plan) 25.8 10.0 4.05 4.15 104.5 41.3 3.4 1.3Inferred (ex. LOM Plan) 1,560.5 1,575.5 2.10 2.12 3,284.1 3,344.8 105.6 107.5Total Inferred 1,586.3 1,585.5 2.14 2.14 3,388.6 3,386.0 108.9 108.9All Reefs Measured 815.7 773.1 4.78 4.55 3,897.4 3,516.2 125.3 113.0Indicated 1,687.7 1,801.5 3.87 3.62 6,528.8 6,523.3 209.9 209.7Measured and Indicated (8) 2,503.4 2,574.7 4.16 3.90 10,426.2 10,039.5 335.2 322.8Inferred (in LOM Plan) 43.0 41.7 4.77 6.45 204.9 268.9 6.6 8.6Inferred (ex. LOM Plan) 2,729.1 2,782.7 3.45 3.44 9,403.1 9,572.9 302.3 307.8Total Inferred 2,772.1 2,824.4 3.47 3.48 9,608.0 9,841.8 308.9 316.4Tailings (9) Measured 87.6 87.6 1.08 1.08 94.3 94.3 3.0 3.0Indicated 15.1 17.9 1.13 1.13 17.0 20.2 0.5 0.6Measured and Indicated 102.7 105.5 1.08 1.09 111.3 114.5 3.6 3.7Inferred (in LOM Plan) – – – – – – – –Inferred (ex. LOM Plan) – – – – – – – –Total Inferred – – – – – – – –MINERAL RESOURCES ARE REPORTED AS ADDITIONAL TO ORE RESERVES.(3)Platinum – Zimbabwe Operations Tonnes (1) Grade (2) Contained Metal (3) (3)Contained MetalMINERAL RESOURCES Classification 2012 2011 2012 2011 2012 2011 2012 2011Main Sulphide Zone (10) (11) (12) Mt Mt 4E PGE 4E PGE 4E tonnes 4E tonnes 4E Moz 4E MozMeasured 9.5 8.7 4.04 4.15 38.5 36.0 1.2 1.2Indicated 104.1 21.2 4.23 4.13 439.7 87.5 14.1 2.8Measured and Indicated 113.6 29.8 4.21 4.14 478.2 123.5 15.4 4.0Inferred (in LOM Plan) 0.3 14.2 3.32 4.19 1.0 59.5 0.0 1.9Inferred (ex. LOM Plan) 72.3 35.5 4.58 4.09 330.8 144.9 10.6 4.7Total Inferred 72.6 49.6 4.57 4.12 331.8 204.4 10.7 6.6MINERAL RESOURCES ARE REPORTED AS ADDITIONAL TO ORE RESERVES.Due 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 orMeasured Resource after continued exploration.(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).(3)Contained Metal: Contained Metal is presented in metric tonnes and million troy ounces (Moz).(4)Merensky Reef and UG2 Reef: The Mineral Resources are estimated over a practical minimum mining width suitable for the deposit known as the ‘Resource Cut’. The minimum resource cutincreased from 90cm to 110cm due to the introduction of an improved support system. As a result of the increased minimum resource cut the overall Merensky Reef and UG2 Reef tonnage increasedand 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.(5)Merensky Reef: The Mineral Resource tonnage and 4E ounce content increased in response to the re-allocation of Ore Reserve back to Mineral Resources following economic assumptions atTumela and Siphumelele mines. The increase in the minimum mining cut (change in mine layout) and new information contribute to the increase.(6)UG2 Reef: The Mineral Resource tonnage and 4E ounce content increased due to re-allocation of Ore Reserve to Mineral Resources after application of revised economic assumptions at Tumela,Twickenham and Siphumelele mines. New information at Pandora Mine decreased the geological loss resulting in increased Mineral Resources. A decrease of Mineral Resource occurred at UnionSouth mine where additional Mineral Resources were converted to Ore Reserves.(7)Platreef: A 1.0g/t (4E PGE) cut-off has been used to define Mineral Resources. During 2012 pit design test work confirmed that Mineral Resources reported in 2011 can be mined via open pit.Additional Mineral Resources were converted to Ore Reserves, decreasing the Platreef Resources. No Mineral Resources applicable to underground mining have been included. However, stockpilematerial is included which comprises calc-silicate and oxidised material with a cut-off grade of greater than 3g/t (5.5 Mt / 0.6 Moz).(8)Alternative units – All Reefs Measured and Indicated: Tonnage in million short tons (Mton) and associated grade in troy ounces per short ton (oz/ton) for 2012 is:Measured and Indicated – 2759.5 Mton (2011: 2,838.1 Mton)Measured and Indicated – 0.121 oz/ton (2011: 0.114 oz/ton)(9)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 the tailingforms part of the Mineral Resource statement.(10)Main Sulphide Zone: 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). Allprojects are now incorporated in the Mineral Resources. As a consequence the Mineral Resources tonnage and 4E ounce content increased significantly.The bulk of the resources have been evaluated using a 120cm resource cut. Unki East and West have been evaluated on a 180cm resource cut to support trackless mining. The increase in tonnage andcontent is offset by the decrease of Mineral Resource due to additional conversion of Mineral Resources to Ore Reserves at the Unki East Mine. Oxidised material is not considered.(11)Main Sulphide Zone: Anglo American Platinum currently has an effective 100% interest in Southridge Limited, subject to the finalisation of the indigenisation agreement.(12)Alternative units – Main Sulphide Zone Measured and Indicated: Tonnage in million short tons (Mton) and associated grade in troy ounces per short ton (oz/ton) for 2012 is:Total – 205.3 Mton (2011: 87.6 Mton)Total – 0.127 oz/ton (2011: 0.120 oz/ton)Ore Reserves and Mineral ResourcesAnglo American plc Annual Report 2012 215