Entire Annual Report - Anglo American Platinum

PLATREEF: The name of the ore mined at PotgietersrustPlatinums.STOPING: Operations directly associated with the extractionof reef.STRIPPING RATIO: The number of units of unpayablematerial which is to be mined in order to expose one unit of ore.SAMREC: The South African Mineral Resources Committee.SWEEPINGS: The final process in stoping operations wherethe footwall is thoroughly cleaned to remove the last portion ofbroken ore and fines.TAILINGS: That portion of the ore from which most of thevaluable material has been removed by concentrating and whichtherefore is low in value and is rejected.TAILINGS GRADE: The 4E content of the tailingsproduced by the milling and concentrating process – when comparedto head grade is a measure of the efficiency of the concentratingprocess.TRANSPORT: The moving of broken rock to the shaft andthe transport of men and materials to the working faces.UG2: A chromite reef in the Bushveld sequence often containingeconomic values of PGM.UNOXIDISED ORE: Ore that has not undergone changes/degradation due to the weathering process close to surface.OXIDISED ORE: Ore that has decomposed by exposure tosurface and near-surface elements.4E: Four Elements. The grade at Anglo Platinum mines is alwaysmeasured as the combined content of the four most valuableprecious metals – platinum, palladium, rhodium and gold.Resource definitionsThe mineral resources and mineral reserves of the Group are classified,verified and reported in accordance with statutory, stock exchangeand industry/professional guidelines. The classifications are basedon the SAMREC Code.Reporting is by professionals with appropriate experience in theestimation, evaluation, exploitation and reporting of mineralresources and mineral reserves relevant to the various styles ofmineralisation under consideration. The Group’s experience withthe various ore bodies spans tens of years.Where mineral resources as well as mineral reserves are quotedfor the same property, these are in addition to the mineral reserves.Attention is drawn to the fact that the term “resources” excludesany diluting materials that will arise as a consequence of the miningmethod and specific geological circumstances applicable to themining of that resource. The term “reserves” on the other hand,includes all expected dilution.A ‘MINERAL RESOURCE’ is a concentration oroccurrence of material of economic interest in or on the Earth’scrust in such form and quantity that there are reasonable and realisticprospects for eventual economic extraction. The location, quantity,grade, continuity and other geological characteristics of a MineralResource are known, estimated from specific geological evidence andknowledge, or interpreted from a well constrained and portrayedgeological model. Mineral resources are subdivided, in order ofincreasing confidence in respect of geoscientific evidence, intoInferred, Indicated and Measured categories.An ‘INFERRED MINERAL RESOURCE’ is thatpart of a Mineral Resource for which tonnage, grade and mineralcontent can be estimated with a low level of confidence. It isinferred from geological evidence and assumed but not verifiedgeological and/or grade continuity. It is based on informationgathered through appropriate techniques from locations such asoutcrops, trenches, pits, workings and drill holes that may belimited or of uncertain quality and reliability.An ‘INDICATED MINERAL RESOURCE’ is thatpart of a Mineral Resource for which tonnage, densities, shape,physical characteristics, grade and mineral content can beestimated with a reasonable level of confidence. It is based onexploration, sampling and testing information gathered throughappropriate techniques from locations such as outcrops, trenches,pits, workings and drill holes. The locations are too widely orinappropriately spaced to confirm geological and/or gradecontinuity but are spaced closely enough for continuity to beassumed.A ‘MEASURED MINERAL RESOURCE’ is thatpart of a Mineral Resource for which tonnage, densities, shape,physical characteristics, grade and mineral content can beestimated with a high level of confidence. It is based on detailedand reliable exploration, sampling and testing informationgathered through appropriate techniques from locations such asoutcrops, trenches, pits, workings and drill holes. The locationsare spaced closely enough to confirm geological and/or gradecontinuity.A ‘MINERAL RESERVE’ is the economically mineablematerial derived from a measured and/or indicated MineralResource. It is inclusive of diluting materials and allows for lossesthat may occur when the material is mined. Appropriate assessments,which may include feasibility studies, have been carried out,including consideration of, and modification by, realisticallyassumed mining, metallurgical, economic, marketing, legal,environmental, social and governmental factors. These assessmentsdemonstrate at the time of reporting that extraction is justifiable.Mineral Reserves are subdivided in order of increasing confidenceinto Probable Mineral Reserves and Proved Mineral Reserves.A ‘PROBABLE MINERAL RESERVE’ is theeconomically mineable material derived from a Measured and/orIndicated Mineral Resource. It is estimated with a lower level ofconfidence than a Proved Mineral Reserve. It is inclusive of dilutingmaterials and allows for losses that may occur when the materialis mined. Appropriate assessments, which may include feasibilitystudies, have been carried out, including consideration of, andmodification by, realistically assumed mining, metallurgical,economic, marketing, legal, environmental, social and governmentalfactors. These assessments demonstrate at the time of reportingthat extraction could reasonably be justified.A ‘PROVED MINERAL RESERVE’ is theeconomically mineable material derived from a Measured MineralResource. It is estimated with a high level of confidence. It isinclusive of diluting materials and allows for losses that mayoccur when the material is mined. Appropriate assessments,which may include feasibility studies, have been carried out,including consideration of and modification by realistically assumedmining, metallurgical, economic, marketing, legal, environmental,social and governmental factors. These assessments demonstrate atthe time of reporting that extraction is reasonably justified. AngloPlatinum’s Proved Reserves are contained within the limits of thefive-year mining plans of any of its operations.67