Mineral resource and
mineral reserve statement 2014
Supplement to the integrated annual report 30 June 2014
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Overview
Mineral resource summary, exclusive of mineral reserves

Both inclusive and exclusive methods of reporting mineral resources are permitted by various international reporting codes. Implats has adopted the inclusive reporting for consistency purposes and to be aligned with its strategic partners. A collation of the mineral resource estimates exclusive of mineral reserves is presented below as it allows for additional transparency. Note that this format is not adhered to by Implats’ strategic partners and the corresponding estimates have been derived from details provided to Implats.

Summary of mineral resource estimate, exclusive of mineral reserves
as at 30 June 2014

    Total estimate   Implats’  
share  
%  		 Attributable estimate  
   Orebody   Remarks   Category   Tonnes  
Mt  		 4E  
grade  
g/t  		 6E
grade
g/t  		 4E  
Moz  		 Pt  
Moz  		 Tonnes  
Mt  		 4E  
Moz  		 Pt  
Moz  
Impala
  Merensky   Impala   Measured   36.1   5.61   6.26   6.5   4.1   100   36.1   6.5   4.1  
    Indicated   65.7   6.21   6.94   13.1   8.3   100   65.7   13.1   8.3  
    Inferred   23.6   6.00   6.70   4.6   2.9   100   23.6   4.6   2.9  
 UG2     Measured   35.1   7.07   8.48   8.0   4.6   100   35.1   8.0   4.6  
    Indicated   46.8   7.39   8.87   11.1   6.5   100   46.8   11.1   6.5  
    Inferred   14.7   7.18   8.61   3.4   2.0   100   14.7   3.4   2.0  
 Merensky   Impala/
RBR JV  		 Measured   5.3   6.56   7.33   1.1   0.7   49   2.6   0.6   0.3  
    Indicated   5.4   7.10   7.92   1.2   0.8   49   2.6   0.6   0.4  
    Inferred   4.9   6.65   7.42   1.0   0.7   49   2.4   0.5   0.3  
 UG2     Measured   1.5   7.48   8.98   0.4   0.2   49   0.7   0.2   0.1  
    Indicated   2.5   7.95   9.54   0.6   0.4   49   1.2   0.3   0.2  
    Inferred   2.0   7.26   8.71   0.5   0.3   49   1.0   0.2   0.1  
 Total Impala   243.7   6.58   7.44   51.6   31.4     232.7   49.1   29.8  
MARULA  
  Merensky     Measured   34.3   4.24   4.55   4.7   2.7   73   25.0   3.4   2.0  
    Indicated   7.7   4.26   4.54   1.1   0.6   73   5.6   0.8   0.4  
    Inferred   9.9   4.16   4.46   1.3   0.8   73   7.2   1.0   0.6  
 UG2     Measured   17.5   8.55   10.16   4.8   2.2   73   12.7   3.5   1.6  
    Indicated   12.4   8.90   10.33   3.5   1.6   73   9.1   2.6   1.1  
    Inferred   6.1   9.07   10.57   1.8   0.8   73   4.4   1.3   0.6  
  Total Marula   87.8   6.08   6.89   17.2   8.6     64.1   12.5   6.3  
AFPLATS




IMBASA



INKOSI
 UG2   Afplats   Measured   94.3   5.16   6.43   15.6   9.5   74   69.8   11.6   7.1  
    Indicated   10.6   5.08   6.31   1.7   1.1   74   7.9   1.3   0.8  
    Inferred   55.3   5.05   6.30   9.0   5.5   74   40.9   6.6   4.1  
  Total Afplats   160.3   5.11   6.37   26.4   16.1     118.6   19.5   11.9  
  Imbasa   Indicated   28.1   4.58   5.75   4.1   2.5   60   16.8   2.5   1.5  
    Inferred   40.2   4.52   5.69   5.8   3.6   60   24.1   3.5   2.2  
  Inkosi   Indicated   65.7   4.86   6.12   10.3   6.3   49   32.2   5.0   3.1  
    Inferred   39.2   4.62   5.84   5.8   3.6   49   19.2   2.9   1.8  
  Total Imbasa/Inkosi   173.2   4.68   5.90   26.1   16.1     92.4   13.9   8.5  
Rivers  


TWO  
 Merensky     Indicated   43.1   2.79   3.04   3.9   2.3   45   19.4   1.7   1.0  
    Inferred   11.0   2.43   2.65   0.9   0.5   45   5.0   0.4   0.2  
UG2     Measured   4.0   4.59   5.54   0.6   0.3   45   1.8   0.3   0.1  
    Indicated   10.4   4.01   4.79   1.3   0.7   45   4.7   0.6   0.3  
    Inferred   0.7   4.04   4.91   0.1   0.0   45   0.3   0.04   0.02  
  Total Two Rivers   69.1   3.03   3.40   6.7   3.9     31.1   3.0   1.7  
Tamboti  
 Merensky     Indicated   38.9   2.81   3.07   3.5   2.2   100   38.9   3.5   2.2  
    Inferred   121.9   3.17   3.47   12.4   7.8   100   121.9   12.4   7.8  
UG2     Indicated   48.3   4.46   5.29   6.9   3.7   100   48.3   6.9   3.7  
    Inferred   128.3   4.39   5.22   18.1   9.6   100   128.3   18.1   9.6  
  Total Tamboti   337.4   3.78   4.35   41.0   23.2     337.4   41.0   23.2  
ZIMPLATS  
 MSZ     Measured   109.1   3.61   3.81   12.7   6.2   87   94.9   11.0   5.4  
    Indicated   571.2   3.55   3.76   65.3   32.0   87   497.0   56.8   27.8  
    Inferred   1 226.2   3.27   3.54   129.0   62.1   87   1 066.8   112.2   54.0  
  Total Zimplats   1 906.5   3.37   3.62   206.9   100.3     1 658.7   180.0   87.2  
MIMOSA  
 MSZ     Measured   39.9   3.71   3.94   4.8   2.3   50   20.0   2.4   1.2  
    Indicated   27.7   3.60   3.83   3.2   1.6   50   13.8   1.6   0.8  
    Inferred   32.4   3.60   3.83   3.7   1.9   50   16.2   1.9   0.9  
  Total Mimosa   100.0   3.64   3.88   11.7   5.8     50.0   5.9   2.9  
   

All mineral resources exclusive of mineral reserves  

 Measured   377   4.87   5.14   59   33     299   47   27  
Indicated   984   3.81   4.61   131   70     810   108   58  
Inferred   1 716   3.58   3.99   197   102     1 476   169   87  
    Total    3 078   3.81   4.33   387   205     2 585   325   172  

Notes

  • The figures in the table above reflect those mineral resources that have not been converted to mineral reserves, ie these are the mineral resources exclusive of mineral reserves
  • The tabulation on the right should be read in conjunction with the mineral reserve statements in the preceding sections
  • A direct comparison of tonnes and grade is not possible between inclusive and exclusive reporting, owing to the mixing of mineral resource figures with production estimates
  • Mineral resource estimates allow for estimated geological losses but not for anticipated pillar losses during eventual mining
  • The previous depth cut-off of 2 350m below surface for mineral resources was reviewed during 2014. The eventual economic extraction of certain mineral resources below current and planned infrastructure is in doubt. These are now excluded in certain areas from the main mineral resource estimates summarised above and impact in particular on the Impala and Afplats inferred mineral resources
  • Implats has chosen not to publish Merensky Reef mineral resource estimates for Afplats, Imbasa and Inkosi as the eventual economic extraction is presently in doubt
  • The year-on-year increase in exclusive ore reserves at Zimplats as at 30 June 2014 compared to the previous years is the result of the decision to align the criteria for the conversion of mineral resources to ore reserves with the Implats standard and to only refl ect those portals where a feasibility study has been completed and the capital for development has been approved by the board (or in the case of Portal 5 South is due to be presented to the board during FY2015). The result was that Portals 5 North, 6 and 7 were removed from the ore reserve inventory and a consequent increase in exclusive mineral resources. This decision does not refl ect any change in view on the viability of these portals as they are still believed to be fundamentally viable and this has no impact on the mineral resource estimates
  • 4E refers to the summation of platinum, palladium, rhodium and gold
  • 6E refers to the summation of platinum, palladium, rhodium, ruthenium, iridium and gold
  • Rounding of numbers may result in minor computational discrepancies; mineral resource estimates are inherently imprecise in nature; the results tabulated in this report must be read as estimates and not as calculations; inferred mineral resources in particular are qualifi ed as approximations.

Summary of attributable mineral resources exclusive of mineral reserves

  Moz Pt
  2012   2013   2014  
Impala   38.7   40.7   28.4  
RBR JV   3.2   3.5   1.5  
Marula   6.2   6.3   6.3  
Afplats   14.5   14.3   11.9  
Imbasa/Inkosi   8.1   8.5   8.5  
Two Rivers   1.6   1.7   1.7  
Tamboti   27.1   23.2   23.2  
Zimplats   79.2   81.5   87.2  
Mimosa   2.8   2.9   2.9  
  181.4   182.6   171.7  

Exclusive mineral resources (Moz Pt) (total and attributable)

Exclusive mineral resources (Moz 4E) (total and attributable)