The reporting of mineral resources and mineral reserves for Implats’ South African operations is undertaken in accordance with the principles and guidelines of the South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (SAMREC Code). SAMREC was established in 1998 and modelled its code on the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). The first version of the SAMREC Code was issued in March 2000 and adopted by the JSE Limited (JSE) in its Listings Requirements later in the same year; this was similarly the basis for the JSE Ongoing Reporting Requirements which were promulgated in 2005. The SAMREC Code has been under review since 2004 and was updated in the 2007 edition and again amended in July 2009; the JSE subsequently incorporated this new version into its Listings and Reporting Requirements. Zimplats, as an Australian Securities Exchange (ASX) listed company, reports its mineral resources and ore reserves in accordance with the 2012 JORC Code. Mimosa Investments Limited, a Mauritius-based company, does not fall under any regulatory reporting code but has adopted the SAMREC Code for its reporting.

The definitions contained in the SAMREC Code are either identical to, or not materially different from, international definitions. International definitions for mineral resources and the inferred, indicated and measured mineral resource sub-categories, and the definitions for mineral reserves and the probable and proved mineral reserve sub-categories, are the same as those found in the SAMREC and JORC codes. The relationships between mineral resources and mineral reserves are depicted below in the standard SAMREC classification diagram.