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

IntroductionThe Mineral Resources and Mineral Reserves of the Implatsgroup reflect the company’s growth opportunities. We arecommitted to:• Safe production and ensuring that this is the firstprinciple underpinning all Mineral Reserve estimates• Optimal exploitation of current assets, together withgrowth of the Mineral Resource base by leveraging andoptimising existing Implats properties, exploration andacquisitions; including alliances and equity interests withthird parties• Continuously improving the management of MineralResources and related processes, while addressingskills development and retention• The legislative regime that governs mineral rightsownership• The transparent, responsible disclosure of MineralResources and Mineral Reserves in line with theprescribed codes, SAMREC and JORC giving duecognisance to materiality and competency• Consistency in the style of reporting and that our publicreports can be reconciled with previous declarationsSalient features 2010Main features relating to Implats’ Mineral Resources andMineral Reserves as at 30 June 2010 relative to 30 June2009 are:• Estimated total attributable Mineral Resourcesdecreased by 2% to 225 million platinum ounces from230 million platinum ounces• Total attributable group Mineral Reserves decreased by1% to 36.9 million platinum ounces from 37.4 millionplatinum ounces• Introduction of a new group-wide standard protocol forthe estimation, classification and reporting of MineralResources and Reserves• As a consequence there were material changes in theclassification of Mineral Resources and decreases due tothe introduction of a depth cut-off at 2 350m below surface• Completion of a group-wide audit of the MineralResources and Reserves by an independent third party• A re-estimation of the Marula Merensky Reef MineralResources resulting in a material decrease• Addition of Impala/RBR joint venture Mineral Resourcesfollowing initial prospecting• The attributable Mineral Resources are dominated bythe Zimplats and Impala contributionsAttributable Mineral Resources of 225 millionplatinum ounces as at 30 June 2010Zimplats – 42%Mimosa – 2%Impala – 30%Marula – 3%Afplats – 10%Two Rivers – 1%Tamboti – 12%* Includes Impala/RBR JV.Attributable platinum ounces, net of depletion, corporate activity and additional work30 June 200730 June 200830 June 200930 June 2010Resources 187Moz Pt 2% increase, Afplats includedReserves 40Moz Pt 8% increase, Afplats includedResources 237Moz Pt 27% increase, Tamboti added, reporting principle adjustedReserves 42Moz Pt 5% increase, progression of 17 Shaft to reservesResources 230Moz Pt 3% decrease, complex graben at Impala excludedReserves 37.4Moz Pt 12% decrease, Afplats excludedResources 225Moz Pt 2% decrease, mostly due to introduction of depth cut-offReserves 36.9Moz Pt No material changesNote: Mineral Resources are inclusive of Mineral Reserves.www.implats.co.za 3 Implats Mineral Resource and Mineral Reserve Statement 2010