Mineral resource and mineral reserve statement 2015
Supplement to the integrated annual report 30 June 2015
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Overview
Integrated mineral resource management

Implats embraces an integrated mineral resources management (MRM) function. To this end, systems, procedures and practices are aligned and are continuously being improved to achieve this objective. MRM includes exploration, geology, geostatistical modelling, mine survey, sampling, mine planning, ore accounting and reconciliation and the MRM information systems. The MRM function is the custodian of the mineral assets and specifically strives to grow these assets in terms of both resources and reserves, and to unlock value through a constant search for optimal extraction plans which yield returns in line with the corporate and business objectives.

The main objective of the MRM function is to support the strategic intent and add value to the organisation, through:

  • Ensuring that safe production is the first principle underpinning all mineral reserve estimates
  • Appropriate investigation, study and understanding of the orebodies
  • Accurate and reconcilable mineral resource and mineral reserve estimates
  • Integrated and credible short, medium and long-term plans
  • Measured and managed outputs
  • Technically appropriate and proven management information systems

Continuous improvement has been embedded in the MRM function. Specific focus is given to standardisation, development, review and improvement of protocols to govern MRM. Implats accordingly remains committed to the following:

  • Continuously improving the management of mineral resources and related processes, while addressing skills development and retention
  • Optimal exploitation of current assets, together with growth of the mineral resource base by leveraging and optimising existing Implats properties, exploration and acquisitions, including alliances and equity interests with third parties
  • The legislative regime that governs mineral rights ownership
  • The transparent, responsible and compliant disclosure of mineral resources and mineral reserves in line with the relevant prescribed codes, SAMREC and JORC, giving due cognisance to materiality and competency

Present focus areas include:

  • Improving the MRM information systems in cooperation with third-party vendors
  • Improved ore reserve flexibility
  • Improvement in the quality of mining

To this end Impala has completed the first year of a four-year project to migrate to a fully geospatial systems environment, namely MineRP Enterprise, in conjunction with our mining technical systems partner MineRP. This geospatial environment allows for integration with multiple systems, including 3D geological modelling and other technical services software. Since all the data will be stored as attributed points, lines and polygons, inside SpatialDB, the core component of MineRP Enterprise, it will be possible to query, review and visualise information spatially, across all levels of the organisation from a single source system. MineRP-CAD, the CAD tool in the enterprise system, has already been deployed to replace older CAD technology.

Group strategy: positive long-term fundamentals, expect lower-for-longer prices