mineral resource and mineral reserve statement ... - Impala Platinum

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Implats embraces theprinciples of transformationas a strategic imperativeto reinforce its positionas a leading southernAfrican mining company,making the best possibleuse of available MineralResources.Leading miningcompany...Surface drilling at the proposed 19 Shaft area, Rustenburg.www.implats.co.za 8 Implats Mineral Resource and Mineral Reserve Statement 2010
Mineral rights statusThe Mineral and Petroleum Resources DevelopmentAct, No 28 of 2002 (MPRDA), came into effect on 1 May2004 in South Africa. The MPRDA, its associated broadbasedsocio-economic empowerment charter for themining industry and its attendant scorecard have playeda significant role in the transformation of the South Africanmining industry. The act effectively transferred ownershipof privately held mineral rights to the state to enable anythird party to apply to the Department of Mineral Resources(DMR) for new-order prospecting rights or mining rightsover these previously privately held minerals.Implats embraces the principles of transformation as astrategic imperative to reinforce its position as a leadingsouthern African mining company, making the bestpossible use of available Mineral Resources. To this effect,all applications for the conversion of all old-order miningrights and old-order prospecting rights by the Implats groupthat were lodged with the DMR have been successfullygranted, thus aligning Implats with the governing mineralrights legislation. Approvals for certain applicationsmade under sections 11 and 102 of the MPRDA toalign certain rights in terms of ownership or inclusionwith existing rights have not yet materialised; howeverfive section 102 applications were executed since thecommencement of the MPRDA. Notable is the inclusion ofthe small areas along the UG2 sub-outcrop that facilitatedcontinued UG2 opencast mining, the prospecting righton the so-called Fourth and Fifth Bafokeng areas on thefarms Elandsheuvel and Reinkoyalskraal in the southernextremity of Impala, into the mining right. At Tambotithe section 102 application for the previous undividedshares on certain portions of the farm Kalkfontein wasexecuted thereby removing potential ambiguity in termsof ownership. We believe that progress is being made withthe outstanding section 102 applications. The conversionof Two Rivers’ old-order mining rights is awaited followingthe submission of that application in July 2007. Alsooutstanding is the granting of one new prospecting right inrespect of unused old-order rights.During FY2010 Marula entered into an agreement toextend the mining of the Driekop shaft onto a small area ofthe adjacent Modikwa-owned mineral rights. This providessome mining flexibility and is essentially a lease agreement;the Mineral Resources and Mineral Reserves involved arenot reflected in this report as the ownership has not beentransferred.At Afplats the DMR has awarded overlapping prospectingrights to a third party over certain portions of the farmHartebeestpoort B and the farm Kareepoort. An appealwas lodged with the DMR as we believe that our rightsare entrenched and that due process was followed inlodging an objection at the initial stage. An application torenew the prospecting right at the Inkosi area was lodgedtowards year end.Two greenfields prospecting projects were concluded; theParadys prospecting rights are being transferred to thejoint venture partner and the Springbok prospecting rightwas terminated.Fully permitted mining tenements are not specified bySAMREC as a prerequisite for the conversion of MineralResources to Mineral Reserves, however Implats iscognisant of the fact that a reasonable expectation mustexist that such mining rights will be obtained. We remaincommitted to South African legislative requirements toconvert applicable prospecting rights to mining rights.In Zimbabwe very little progress has been made to datein resolving issues raised by mineral rights legislation.Discussions are ongoing to clarify the situation withthe Zimbabwean government, specifically recognitionof empowerment credits and final empowermentshareholding.www.implats.co.za 9 Implats Mineral Resource and Mineral Reserve Statement 2010
Page 1: MINERAL RESOURCE ANDMINERAL RESERVE
Page 5 and 6: IntroductionThe Mineral Resources a
Page 7 and 8: The Bushveld ComplexThe Bushveld Co
Page 12 and 13: Implats’ explorationstrategy rema
Page 14 and 15: Auditing in 2010Implats is committe
Page 16 and 17: Historic productionSince 1969 when
Page 18 and 19: Implats’ attributable Mineral Res
Page 20 and 21: Mineral Resource summary -exclusive
Page 22 and 23: ReconciliationA high-level reconcil
Page 24 and 25: The Bushveld Complexin South Africa
Page 26 and 27: ImpalaThe Impala Platinum mining op
Page 28 and 29: Impala Platinum Mineral Resources a
Page 30 and 31: MarulaMarula’s mining operation i
Page 32 and 33: Marula Platinum Mineral Resourcesan
Page 34 and 35: AfplatsAfplats’ Leeuwkop Project
Page 36 and 37: Two RiversTwo Rivers is located app
Page 38 and 39: Two Rivers Platinum Mineral Resourc
Page 40 and 41: Tamboti projectThe Tamboti Project
Page 42 and 43: ZimplatsZimplats’ Ngezi Mine is l
Page 44 and 45: Zimplats Mineral Resourcesand Ore R
Page 46 and 47: MimosaMimosa is located in Zimbabwe
Page 48 and 49: Mimosa Mineral Resourcesand Ore Res
Page 50 and 51: Glossary of terms3PGE+Au5PGE+AuAfpl
Page 52 and 53: Mineral Resource and Mineral Reserv
Page 54: www.implats.co.za

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