Amandelbult 1 Analyst and Fund Managers Visit Analyst and Fund - - PDF document

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Amandelbult 1 Analyst and Fund Managers Visit Analyst and Fund - - PDF document

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Amandelbult 1 Analyst and Fund Managers Visit Analyst and Fund Managers Visit Amandelbult Plat latinum Mine inum Mine Amandelbult P 6 DECEMBER 2006 2 Agenda Agenda Location & Mine Layout Safety Resources and Reserves

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SLIDE 1

1

Amandelbult

2

Analyst and Fund Managers Visit Analyst and Fund Managers Visit

Amandelbult P Amandelbult Plat latinum Mine inum Mine

6 DECEMBER 2006

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SLIDE 2

3

Agenda Agenda

  • Location & Mine Layout
  • Safety
  • Resources and Reserves
  • Mining Methods
  • Production
  • Operating Costs
  • Capital Programme and Projects
  • Human Resources
  • Key Business Issues

4

Location & Mine Layout Location & Mine Layout

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SLIDE 3

5

Location Location

% U % U % U % U % U % U % U % U % U

STYLDRIFT JV RUSTENBURG POTGIETERSRUST PLATINUMS LIMITED TWICKENHAM DER BROCHEN LEBOWA PLATINUM MINES

ð

LIMPOPO MPUMALANGA GAUTENG NORTH-WEST

RUSTENBURG

PRETORIA

WITBANK MOKOPANE (POTGIETERSRUS) POLOKWANE (PIETERSBURG) BELA BELA (WARMBATHS)

JOHANNESBURG

PANDORA JV BOOYSENDAL JV MODIKWA

BURGERSFORT LYDENBURG

PASCHASKRAAL JV

Legend

Bushveld Complex Anglo Platinum Anglo Platinum - Joint Venture Impala Platinum Mines Lonmin PLC Northam Platinum Limited Southern Era

Merensky UG2 Platreef

UNKI PROJECT

Botswana Zimbabwe Mozambique Namibia

Republic

  • f

South Africa Polokwane Smelter

20 10 Kilometres

AMANDELBULT UNION BAFOKENG/RASIMONE NORTHAM

6

Mining Operations Mining Operations

GOEVERNEMENTS PLAATS 417 KQ MODDERGAT 389 KQ ELANDSFONTEIN 386 KQ SCHILDPADNEST 385 KQ AMANDELBULT 383 KQ MIDDELLAAGTE 382 KQ ELANDSKUIL 378 KQ HAAKDOORNDRIFT 374 KQ ZWARTKOP 369 KQ GROOTKUIL 376 KQ VLAKPOORT 388 KQ

2 1 Kilometre

Mining Licence Merensky Reef Outcrop UG2 Chromitite Outcrop No.1 Shaft No.2 Shaft UG2 Chromitite Workings Merensky Reef Workings

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SLIDE 4

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Safety Safety

8

Fatalities Fatalities

2 4 6 8 10 12 Number of Fatalities 1990 1992 1994 1996 1998 2000 2002 2004 2006 YTD

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SLIDE 5

9

Safety Performance Safety Performance

500 1000 1500 2000 2500 Number

  • f Injuries

2000 2001 2002 2003 2004 2005 2006 YTD

10

Resources and Reserves Resources and Reserves

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SLIDE 6

11

Merensky Reserves/Resources Merensky Reserves/Resources

Mt 4E g/t Proved 17.9 6.06 Probable 71.3 5.89 Total 89.2 5.92 Mt 4E g/t Measured

  • Indicated

9.7 7.03 Inferred 158.7 6.96 Total 168.4 6.96 Amandelbult Merensky Reef Reserves 2005 Amandelbult Merensky Reef Resources 2005 2005 AM-MR AM-MR 2005

Note: As per Annual Report 2005

12

UG2 Reserves/Resources UG2 Reserves/Resources

Mt 4E g/t Proved 83.6 4.45 Probable 219.3 4.44 Total 302.9 4.44 Mt 4E g/t Measured

  • Indicated

31.0 5.03 Inferred 198.1 5.29 Total 229.1 5.26 AM-UG2 2005 AM-UG2 2005 Amandelbult UG2 Reef Reserves 2005 Amandelbult UG2 Reef Resources 2005

Note: As per Annual Report 2005

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SLIDE 7

13

4E Prill Splits 4E Prill Splits

(%)

Merensky Pothole UG2 Pt 62 61 58 Pd 30 27 29 Rh 5 9 12 Au 3 3 1

14

UPPER CHROMITITE STRINGER LOWER CHROMITITE STRINGER PEGMATOID

Merensky Reef Merensky Reef

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SLIDE 8

15

Merensky Reef Footwall Anorthosite Merensky Pyroxenite

+/- 125 cm

Merensky Reef Merensky Reef – – grade profile grade profile and cut and cut

16

UPPER CHROMITITE STRINGER LOWER CHROMITITE STRINGER PEGMATOID P2

Merenksy Merenksy Regional Pothole Reef Regional Pothole Reef

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SLIDE 9

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Pothole Reef Pothole Reef – – grade profile and grade profile and cut cut

Merensky Pyroxenite Merensky Reef Footwall Harzburgite

+/- 125 cm

18

MAIN CHROMITITE 1ST LEADER 2ND LEADER 3RD LEADER

On occasion 1st leader coalesces with Main Chromitite Band

UG2 Reef UG2 Reef

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SLIDE 10

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UG2 Reef UG2 Reef – – grade profile and cut grade profile and cut

Main Chromitite layer Leader Chromitite layers Pegmatiodal pyroxenite footwall

+/- 139 cm

20

Merensky Resources

Mined out

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SLIDE 11

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Transition Zone Detail Transition Zone Detail

5 L 5 L

9L 10L 11L 12L 13L 14L 15L 16L 12L 13L 14L 15L 16L

22

UG2 Resources UG2 Resources

Mined out

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SLIDE 12

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U/G Drilling To Reduce Risk U/G Drilling To Reduce Risk

5 10 15 20 25 30 35

Metres Drilled ('000's)

H2 2006F ('000's) 13.1 U/G Drilling ('000's) 12.0 11.9 12.3 12.5 26.6 18.2 2001 2002 2003 2004 2005 2006

  • Additional drilling to reduce risk in more complex reef
  • For 2007 ~32 000 metres and reverts to 15 000 metres in 2009

24

Surface Drilling Surface Drilling

10 20 30 40 50 60 70 80 90

Metres Drilled ('000's)

H2 2006F ('000's) 43.0 Surface Drilling ('000's) 24.2 26.1 25.1 26.7 78.7 47.0 2001 2002 2003 2004 2005 2006

  • Additional drilling for 4# shaft exploration and pothole reef, East Upper

UG2 and transition zone

  • Supplemented by 3D seismic
  • 2007 approximately 80 000 metres
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SLIDE 13

25

Mining Methods Mining Methods

26

Mining Methods Mining Methods

  • West Upper and Lower
  • Conventional breast mining
  • Central
  • Conventional breast mining at 15E
  • Mechanized room and pillar, now converting to breast at 16W

and 43E declines (due to increased dip and rolling reef)

  • East
  • Conventional breast mining
  • Mechanization and modernization future
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SLIDE 14

27

Production Production

28

Tons Milled

1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Tons Milled ('000's) H2 2006F ('000's) 3629 Tons Milled ('000's) 7086 7072 6956 6458 6000 3414 2001 2002 2003 2004 2005 2006

  • 2004 volume decrease due to transition zone and move to 2# shaft
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SLIDE 15

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Grade 4E g/ton milled Grade 4E g/ton milled

1 2 3 4 5 6

Built Up Head Grade (g/ton milled, 4E)

Built Up Head Grade (g/ton milled, 4E) 5.68 5.86 5.76 5.69 5.58 5.28 2001 2002 2003 2004 2005 H1 2006

  • Decreases slightly with increasing proportion of UG2
  • At 60% UG2 forecast grade will be 5,11g/ton milled, 4E

30

Equivalent Refined Pt oz Equivalent Refined Pt oz

100 200 300 400 500 600 700 Equivalent Refined Pt oz ('000's) H2 2006F ('000's) 300 Equivalent Refined Pt oz ('000's) 654 678 645 592 556 293 2001 2002 2003 2004 2005 2006

  • Planned profile increases to 700k oz by 2010
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SLIDE 16

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UG2 Production (% Tons Milled) UG2 Production (% Tons Milled)

10 20 30 40 50 60 % UG2 Percent of Total Output UG2 % 36 44 46 47 45 51 2001 2002 2003 2004 2005 H1 2006

  • UG2 increases to 60% in 2010 with ramp up of East Upper Expansion

32

Primary Development Primary Development

5 10 15 20 25 30 35 40 45 50

Primary Development Metres ('000's)

H2 2006F ('000's) 25.1 Development Metres ('000's) 36.9 36.8 40.0 40.3 36.6 22.2 2001 2002 2003 2004 2005 2006

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SLIDE 17

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Immediately Available Reserves Immediately Available Reserves

5 10 15 20 25 30 Months 2001 2002 2003 2004 2005 H1 2006

Immediately Available Ore Reserves Immediately Available Ore Reserves (More stringent definition)

  • Panels equipped rose from 202 to 298 from Dec 2005 to June 2006

34

Processing Processing

  • Separate Process Directorate
  • Concentrator Recovery Improvement

Programme

  • Group 3-Day concentrator stock-pile

philosophy

  • Current Amandelbult stock-pile of 10 days,

200kt

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SLIDE 18

35

Operating Costs Operating Costs

36

Cash On Cash On-

  • Mine Costs per Ton Milled

Mine Costs per Ton Milled

50 100 150 200 250 300 350 Total Cost per Ton Milled (R/ton milled) Total Cost per Ton Milled (R/ ton milled) 184 212 242 292 335 330 2001 2002 2003 2004 2005 H1 2006

  • H1 2006 benefit of increased volume
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SLIDE 19

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Cash On Cash On-

  • Mine Cost / Equiv. Ref. Pt oz

Mine Cost / Equiv. Ref. Pt oz

500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 Total Cost per Equivalent Refined Pt oz (R / oz Equivalent Refined Pt) R / oz Equivalent Refined Pt 1995 2210 2607 3183 3613 3843 2001 2002 2003 2004 2005 H1 2006

  • An additional R100 million per year in additional development and

equipping costs in 2006 and 2007

38

Capital Programme and Projects Capital Programme and Projects

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SLIDE 20

39

Capital Expenditure Capital Expenditure Capital Expenditure

100 200 300 400 500 600 Capital Expenditure (R millions) Expansion (R millions) 15 Ongoing (R millions) 162 290 435 314 566 2001 2002 2003 2004 2005

  • Average ongoing capital expenditure R600 million per annum

40

New Projects Area: UG2 New Projects Area: UG2

AS UG2 2#

4# P2 AS UG2 62E F AS UG2 50E F AS UG2 44E SI

UG2 Chromitite UG2 Chromitite Workings

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SLIDE 21

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UG2 Expansion UG2 Expansion

  • UG2 East Upper Project
  • Approximately R1.5bn capex
  • Additional 100 000 Pt oz per annum
  • UG2 concentrator upgrade to 210kt per

month

  • Commences 2007, first production 2008,

full production 2012

42

New Projects Area: Merensky New Projects Area: Merensky

AS MER 4# P1 AS MER 3#

UG2 Chromitite UG2 Chromitite Workings

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SLIDE 22

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Deeper Merensky Production Deeper Merensky Production

  • 4# shaft into full feasibility
  • Approximate depth 1100m
  • 250kt per month
  • UG2 and Merensky extraction
  • 3# shaft exploration and feasibility
  • ngoing

44

Human Resources Human Resources

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SLIDE 23

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Labour Complement Labour Complement

Employees Contractors Total 9 761 2 764 12 525 2005 10 508 2 929 13 437 2006

  • Amandelbult on Target Programme
  • Increased production, development and equipping

46

Act and Charter Targets on Track Act and Charter Targets on Track

5 10 15 20 25 30 35 40 HDSA in Management (%) Percent

  • f total

33 34 35 40 40 2005 2006 YTD 2007F 2008F 2009F

  • No. of people

151 165 180 209 208

2 4 6 8 10 Women in Mining (%) Percent

  • f total

5 5 7 9 10 2005 2006 YTD 2007F 2008F 2009F

  • No. of people

472 582 696 895 994

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SLIDE 24

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Key Business Issues Key Business Issues

48

Key Business Issues Key Business Issues

  • Injury free production
  • Maximizing the value of the lease area
  • Unit cost reduction