PPRust Section Visit - Anglo Platinum
PPRust Section Visit - Anglo Platinum
PPRust Section Visit - Anglo Platinum
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Investment Analysts / Fund Managers<br />
<strong>Visit</strong> to<br />
Potgietersrust <strong>Platinum</strong>s Limited<br />
24 August 2004<br />
Potgietersrust <strong>Platinum</strong>s Limited
Agenda<br />
• Location & Infrastructure Layout<br />
• Safety & Environment<br />
• Geology<br />
• Resources and Reserves<br />
• Mining and development<br />
• Production<br />
• Working Cost<br />
• Capex<br />
• HR<br />
Potgietersrust <strong>Platinum</strong>s Limited
Location & Infrastructure<br />
Layout<br />
Potgietersrust <strong>Platinum</strong>s Limited
Legend<br />
Bushveld Complex<br />
<strong>Anglo</strong> <strong>Platinum</strong><br />
<strong>Anglo</strong> <strong>Platinum</strong> - Joint Venture<br />
Impala <strong>Platinum</strong> Mines<br />
Lonmin PLC<br />
Northam <strong>Platinum</strong> Limited<br />
POTGIETERSRUST<br />
PLATINUMS LIMITED<br />
MOKOPANE (POTGIETERSRUS)<br />
POLOKWANE (PIETERSBURG)<br />
%U<br />
%U<br />
ð<br />
Polokwane Smelter<br />
LEBOWA PLATINUM MINES<br />
UNKI PROJECT<br />
Namibia<br />
Botswana<br />
Zimbabwe<br />
Republic<br />
of<br />
South Africa<br />
Mozambique<br />
Southern Era<br />
Merensky<br />
UG2<br />
Platreef<br />
AMANDELBULT<br />
NORTHAM<br />
LIMPOPO<br />
PASCHASKRAAL JV<br />
TWICKENHAM<br />
MODIKWA<br />
%U<br />
BURGERSFORT<br />
BELA BELA (WARMBATHS)<br />
%U<br />
UNION<br />
BAFOKENG/RASIMONE<br />
STYLDRIFT JV<br />
NORTH-WEST<br />
DER BROCHEN<br />
BOOYSENDAL JV<br />
LYDENBURG<br />
%U<br />
RUSTENBURG<br />
GAUTENG<br />
%U<br />
RUSTENBURG<br />
PANDORA JV<br />
%U<br />
PRETORIA<br />
MPUMALANGA<br />
WITBANK<br />
%U<br />
±<br />
%U<br />
JOHANNESBURG<br />
0 10 20<br />
Kilometres<br />
Potgietersrust <strong>Platinum</strong>s Limited
Tweefontein Hill<br />
Tweefontein North<br />
Sandsloot<br />
Zwartfontein South<br />
<strong>PPRust</strong> North
<strong>PPRust</strong> - Infrastructure<br />
Protection<br />
Services<br />
Mining<br />
Main Stores<br />
Main Offices<br />
Concentrator<br />
Crushed ore<br />
stockpile<br />
Explosive<br />
Magazine<br />
Main Water<br />
Reservoir<br />
Main Crusher
Sandsloot<br />
Concentrator<br />
Tweefontein Hill Pit<br />
Tweefontein North Pit<br />
Sandsloot Pit<br />
Zwartfontein South Pit<br />
<strong>PPRust</strong> North Pit<br />
Ore Flow Diagram
Safety & Environment<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong>’s - Lost Time Injuries<br />
25<br />
20<br />
15<br />
10<br />
5<br />
21<br />
14<br />
9 8<br />
0<br />
2000 2001 2002 2003<br />
number of injuries<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong>’s – fatal accident<br />
1<br />
0<br />
2000 2001 2002 2003<br />
number of fatals<br />
Potgietersrust <strong>Platinum</strong>s Limited
2004 Safety Challenges<br />
• Integration of Behavior Based Safety into line-<br />
function;<br />
• Continue with “Unembeza“<br />
and OTTO” campaign;<br />
• Adherence to <strong>Platinum</strong> Rules;<br />
• Electronic Business Management System;<br />
• Edutouch training;<br />
• OSHAS 18000 Accreditation;<br />
• Occupational Hygiene.<br />
Potgietersrust <strong>Platinum</strong>s Limited
Environmental Challenges for 2004<br />
• Employee training on environmental issues;<br />
• Maintain ISO 14001 certification;<br />
• Improve on waste management (general, oil<br />
spillages, contaminated soil);<br />
• First phase of waste rock dump<br />
rehabilitation;<br />
Potgietersrust <strong>Platinum</strong>s Limited
Geology<br />
Potgietersrust <strong>Platinum</strong>s Limited
Potgietersrust <strong>Platinum</strong>s Limited
OVERYSEL 815 LR<br />
ZWARTFONTEIN 818 LR<br />
Sandsloot Pit<br />
VAALKOP 819 LR<br />
SANDSLOOT 236 KR<br />
KNAPDAAR 234 KR<br />
TWEEFONTEIN 238 KR<br />
´<br />
RIETFONTEIN 240 KR<br />
0 2.5<br />
Kilometers<br />
Potgietersrust <strong>Platinum</strong>s Limited
Sandsloot<br />
Potgietersrust <strong>Platinum</strong>s Limited
Main Faults at Sandsloot CUT 6<br />
N<br />
Potgietersrust <strong>Platinum</strong>s Limited
Structure of Sandsloot Pit<br />
Potgietersrust <strong>Platinum</strong>s Limited
Example <strong>Section</strong> through SandSloot-pit<br />
Potgietersrust <strong>Platinum</strong>s Limited
Zwartfontein South<br />
Potgietersrust <strong>Platinum</strong>s Limited
Zwartfontein South - Fault Blocks at Final Design<br />
Potgietersrust <strong>Platinum</strong>s Limited
Exploration Drilling Grid for Zwartfontein South<br />
50m x 50m<br />
LOOKING SOUTH<br />
Potgietersrust <strong>Platinum</strong>s Limited<br />
LOOKING<br />
NORTH
Example section through<br />
Zwartfontein South pit<br />
•Gvp**grade<br />
mod.gvp<br />
Potgietersrust <strong>Platinum</strong>s Limited
Core Drilling Statistics: : 2003/4<br />
Area<br />
No. of<br />
holes<br />
drilled<br />
Meters<br />
drilled<br />
No. of<br />
assays<br />
Drill status<br />
Sandsloot<br />
18<br />
16,036<br />
5,926<br />
completed<br />
Zwartfontein<br />
South<br />
172<br />
78,697<br />
40,332<br />
Completed<br />
(Apr 04)<br />
<strong>PPRust</strong> North<br />
232<br />
77,861<br />
47,443<br />
completed<br />
Potgietersrust <strong>Platinum</strong>s Limited
Exploration status at <strong>PPRust</strong><br />
Potgietersrust <strong>Platinum</strong>s Limited
Resources and Reserves<br />
Potgietersrust <strong>Platinum</strong>s Limited
Resource / Reserve Statement<br />
Sandsloot (31/12/2003)<br />
Category<br />
Tonnes<br />
(X 1000)<br />
4E<br />
(g/t)<br />
Pt Oz<br />
(X 1000)<br />
Measured Resource<br />
11,900.0<br />
1.74<br />
234.3<br />
Indicated Resource<br />
27,600.0<br />
2.33<br />
727.8<br />
Inferred Resource<br />
64,210.0<br />
2.96<br />
2,150.9<br />
Total Resource<br />
103,710.0<br />
2.65<br />
3,113.0<br />
Proven Reserve<br />
3,950.0<br />
3.03<br />
135.5<br />
Probable Reserve<br />
9,610.0<br />
3.25<br />
353.6<br />
Total Reserve<br />
13,570.0<br />
3.19<br />
489.1<br />
Note: Reserve quoted in addition to Resource statement<br />
Potgietersrust <strong>Platinum</strong>s Limited
Resource / Reserve Statement<br />
Zwartfontein South (31/12/2003)<br />
Category<br />
Tonnes<br />
(X 1000)<br />
4E<br />
(g/t)<br />
Pt Oz<br />
(X 1000)<br />
Measured Resource<br />
-<br />
-<br />
0<br />
Indicated Resource<br />
-<br />
-<br />
0<br />
Inferred Resource<br />
89,360.0<br />
2.06<br />
2,083.3<br />
Total Resource<br />
89,360.0<br />
2.06<br />
2,083.3<br />
Proven Reserve<br />
-<br />
-<br />
0<br />
Probable Reserve<br />
33,290.0<br />
3.32<br />
1,250.7<br />
Total Reserve<br />
33,290.0<br />
3.32<br />
1,250.7<br />
Note: Reserve quoted in addition to Resource statement<br />
Potgietersrust <strong>Platinum</strong>s Limited
Resource / Reserve Statement<br />
Total <strong>PPRust</strong> (31/12/2003)<br />
Category<br />
Tonnes<br />
(X 1000)<br />
4E<br />
(g/t)<br />
Pt Oz<br />
(X 1000)<br />
Measured Resource<br />
11,900.0<br />
1.74<br />
234.3<br />
Indicated Resource<br />
338,890.0<br />
2.36<br />
9,063.2<br />
Inferred Resource<br />
153,570.0<br />
2.44<br />
4,234.2<br />
Total Resource<br />
504,360.0<br />
2.37<br />
12,531.8<br />
Proven Reserve<br />
3,950.0<br />
3.03<br />
135.5<br />
Probable Reserve<br />
311,270.0<br />
2.65<br />
9,349.1<br />
Total Reserve<br />
315,230.0<br />
2.66<br />
9,484.6<br />
Note: Reserve quoted in addition to Resource statement<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong> Prill Split<br />
Pt factor<br />
Pd factor<br />
Rh factor<br />
Au factor<br />
% Cu<br />
%Ni<br />
Sandsloot<br />
0.445<br />
0.459<br />
0.033<br />
0.064<br />
0.098<br />
0.193<br />
Zwartfontein<br />
South<br />
0.440<br />
0.469<br />
0.033<br />
0.059<br />
0.083<br />
0.171<br />
Potgietersrust <strong>Platinum</strong>s Limited
Mining & Development<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong>’s Sandsloot pit<br />
Potgietersrust <strong>Platinum</strong>s Limited<br />
•32 500 000 t in 2004<br />
•90 000 t per day<br />
•bench height 15 m<br />
•current depth 210,<br />
(320)m<br />
•current length 1700 m<br />
•current width 600 m<br />
•ramp gradient 10 %<br />
•ramp width 35 m<br />
•strip ratio 7.9 : 1
<strong>PPRust</strong>’s Zwartfontein South pit<br />
•25 000 000 t in 2004<br />
•68 500 t per day<br />
•bench height 10 m<br />
•current depth 60, (245)m<br />
•current length 650,<br />
(1630)m<br />
•current width 300, (690)m<br />
•ramp gradient 10 %<br />
•ramp width 35 m<br />
•strip ratio 11 : 1<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong>’s Truck and Shovel operation<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong>’s Truck and Shovel operation<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong>’s Drill & Blast operations<br />
Potgietersrust <strong>Platinum</strong>s Limited
MINE DESIGN – Sandsloot CUT 6<br />
Potgietersrust <strong>Platinum</strong>s Limited
MINE DESIGN – Zwartfontein South CUT 5<br />
Potgietersrust <strong>Platinum</strong>s Limited
Production<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong>’s tons mined<br />
50<br />
40<br />
30<br />
20<br />
30.18 29.61<br />
39.67<br />
48.44<br />
10<br />
0<br />
2000 2001 2002 2003<br />
million tons mined (ex pits)<br />
• Steady state level around 50 million tons per annum<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong>’s milling performance<br />
5,000<br />
4,000<br />
3,000<br />
2,000<br />
4,177 4,270 4,375 4,465<br />
1,000<br />
0<br />
2000 2001 2002 2003<br />
k tons milled<br />
• Milling capacity limit of 385 000 tons per month<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong>’s Concentrator Recoveries<br />
82<br />
80<br />
78<br />
76<br />
81.94 81.96<br />
74<br />
79.09<br />
72<br />
74.57<br />
70<br />
2000 2001 2002 2003<br />
PGM Recoveries<br />
• Recovery in 2004 steady around 80%<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong>’s Grade<br />
4.5<br />
4.0<br />
3.5<br />
3.0<br />
2.5<br />
2.0<br />
1.5<br />
1.0<br />
0.5<br />
0.0<br />
4.3 4.4<br />
4.0<br />
3.5<br />
2000 2001 2002 2003<br />
built-up head grade (g/t PGM)<br />
• Grade steady around 4 grams per ton<br />
Potgietersrust <strong>Platinum</strong>s Limited
<strong>PPRust</strong>’s Pt-Production<br />
Production<br />
250,000<br />
200,000<br />
150,000<br />
100,000<br />
202,600 211,400<br />
164,700<br />
191,800<br />
50,000<br />
0<br />
2000 2001 2002 2003<br />
equivalent refined Pt production<br />
Potgietersrust <strong>Platinum</strong>s Limited
Operating Costs<br />
Potgietersrust <strong>Platinum</strong>s Limited
Cash on-mine costs<br />
200.0<br />
183.0<br />
60,000.0<br />
180.0<br />
160.0<br />
140.0<br />
126.0<br />
139.0<br />
147.0<br />
50,000.0<br />
40,000.0<br />
R/ton milled<br />
120.0<br />
100.0<br />
80.0<br />
30,000.0<br />
Tons mined<br />
60.0<br />
20,000.0<br />
40.0<br />
10,000.0<br />
20.0<br />
0.0<br />
2000 2001 2002 2003<br />
0.0<br />
R/ton milled<br />
tons mined<br />
Potgietersrust <strong>Platinum</strong>s Limited
Cash on-mine costs<br />
4,500.0<br />
4,000.0<br />
3,500.0<br />
3,000.0<br />
2,500.0<br />
2,000.0<br />
1,500.0<br />
1,000.0<br />
500.0<br />
0.0<br />
3,903<br />
4,249<br />
2,605 2,815<br />
2000 2001 2002 2003<br />
R / Pt oz equiv. refined<br />
• Cost increase in 2004 expected at CPI target (5,5%)<br />
Potgietersrust <strong>Platinum</strong>s Limited
On Mine cost split<br />
15%<br />
17%<br />
6%<br />
Labour<br />
Stores<br />
Utilities<br />
Sundries<br />
14%<br />
6%<br />
42%<br />
Contractors<br />
Amort<br />
Potgietersrust <strong>Platinum</strong>s Limited
Tons mined / Pt oz<br />
60,000.0<br />
250,000<br />
50,000.0<br />
48,444.0<br />
200,000<br />
tons mined ('000)<br />
40,000.0<br />
30,000.0<br />
20,000.0<br />
30,183.0 29,631.0<br />
39,672.0<br />
150,000<br />
100,000<br />
Pt oz refined<br />
10,000.0<br />
50,000<br />
0.0<br />
2000 2001 2002 2003<br />
0<br />
tons mined<br />
Pt ounces<br />
Potgietersrust <strong>Platinum</strong>s Limited
Capital Expenditure<br />
350.0<br />
300.0<br />
250.0<br />
200.0<br />
150.0<br />
100.0<br />
50.0<br />
109.4<br />
161.9<br />
231.9<br />
338.6<br />
0.0<br />
2000 2001 2002 2003<br />
Capex (R mill)<br />
• Ongoing capex level of R250 - R300 m per annum<br />
• Planned spend of R400m (unapproved) in 2005 on relocation and water w<br />
Potgietersrust <strong>Platinum</strong>s Limited
Human Resources<br />
Potgietersrust <strong>Platinum</strong>s Limited
Human Resources<br />
• Attraction and Retention<br />
– Desirability of Area<br />
– Schooling<br />
• Employment Equity<br />
• HIV/AIDS<br />
• SED<br />
– Lower Prevalence rate<br />
– Mining Charter<br />
– BEE<br />
– Village Relocation<br />
Potgietersrust <strong>Platinum</strong>s Limited
Key Business Issues<br />
• Safety, Health and Environment<br />
• Cost Optimisation<br />
• Improving Unit Costs<br />
• Improving Concentrator Performance<br />
• Mining Flexibility<br />
Contribution to the Group<br />
Potgietersrust <strong>Platinum</strong>s Limited
Dr. Hans Merensky (1927):<br />
… it is evident that the Potgietersrus <strong>Platinum</strong>s Limited are indeed in an excellent<br />
position, in that a large tonnage can be developed in a short time and without much<br />
capital expenditure; and that the mining can be done for a long time cheaply in open<br />
quarries; the milling and producing stages can be reached in a short time, and …<br />
I feel convinced that the Potgietersrus <strong>Platinum</strong>s Limited will<br />
develop into a highly payable concern.
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