Ore Reserves and Mineral Resources Report 2020
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ANGLO AMERICAN PLATINUM LIMITED ORE RESERVES AND MINERAL RESOURCES REPORT2020 Ore Reserves and Mineral Resources Report 2020 Anglo American Platinum Limited Purpose: re-imagining mining to improve people’s lives We are grounded in our purpose to re-imagine mining to improve people’s lives. We are transforming the very nature of mining for a safer, cleaner, smarter future. We are using more precise technologies, less energy and less water; we are reducing our physical footprint for every ounce of PGM and base metal we produce. We are combining smart innovation with the utmost consideration for our people, their families, local communities, our customers, and the world at large – to better connect precious resources in the ground to all of us who need and value them. Our focus is on our four strategic priorities to deliver the next phase of valve creation for stakeholders. – Stimulate new markets and leverage new capabilities – Embed anti-fragility across our business – Maximise value from our core – A leader in ESG Refers to other pages in this report Supporting documentation on the website Integrated report Full annual financial statements (AFS) Environmental, social and governance (ESG) report www.angloamericanplatinum.com/investors/annual-reporting/2020 Contents 1 Our approach to reporting 40 Estimates and reconciliation – managed operations 2 Operational footprint 40 Mogalakwena Mine (100%) 4 Ore Reserves and Mineral Resources 46 Amandelbult Complex (100%) 4 Lead Competent Person’s statement 46 Tumela Mine (100%) 13 External auditor’s letter (The Mineral Corporation) 51 Dishaba Mine (100%) 14 Key reporting criteria 58 Mototolo Complex (100%) 14 Our approach to Ore Reserves and Mineral Resources reporting 64 Twickenham Mine (100%) 15 Key reporting principles 67 Unki Mine (100%) 17 Geological setting and exploration 72 Estimates and reconciliation – non-managed operations 17 Geological setting 72 Modikwa Mine (50%) 20 Exploration activities – managed operations 78 Sibanye-Stillwater joint operations 22 Mineral Resources summary 79 Siphumelele 3 Shaft (100%) 22 Mineral Resource estimation: managed operations 81 Kroondal Mine (50%) 24 Mineral Resource estimates and reconciliation summary 83 Marikana Mine (50%) 32 Ore Reserves summary 84 Bokoni Mine (49%) 32 Ore Reserves estimation: managed operations 86 Endowment – Mineralisation 35 Ore Reserves estimates and reconciliation summary 87 Definitions for reconciliation categories 88 Administration * Copyrights and trademarks owned by the Institute of Directors in Southern Africa NPC and all rights reserved. Cover image: Prosper Ngwerume (Section Surveyor) using a laser device underground for precision markup of centre lines and panel marking Ore Reserves and Mineral Resources Our approach to reporting Anglo American Platinum is a member of the Anglo American plc group, guided by the purpose and values of our parent while considering the complexities of the PGM industry and our operating countries in developing our strategic priorities. The synergies created by a common purpose, shared values and strategic focus underpin significant benefits for all stakeholders. Integrated report ANGLO AMERICAN PLATINUM LIMITED Balanced assessment of our performance and ability to create sustainable value – INTEGRATED REPORT 2020 – Relevant extracts from supplementary reports, particularly ESG report Integrated annual report – Developed for key stakeholders: employees, local communities, non-governmental 2020 organisations (NGOs), customers, investors and government. Anglo American Platinum Limited ESG report – Detailed disclosure on key environmental, social and governance elements that could have a material impact on our performance and business if not managed effectively Environmental, social and – Prepared in accordance with core requirements of GRI Standards. governance report 2020 Anglo American Platinum Limited Annual financial statements Prepared according to: – International Financial Reporting Standards (IFRS) ANGLO AMERICAN PLATINUM LIMITED – SAICA Financial Reporting Guides AUDITED ANNUAL FINANCIAL 2020 STATEMENTS – Financial Reporting Pronouncements issued by the Financial Reporting Standards Audited annual Council financial statements 2020 – South African Companies Act 71 2008 – JSE Listings Requirements Anglo American Platinum Limited – King IV recommendations. Ore Reserves and Mineral Resources report ANGLO AMERICAN PLATINUM LIMITED – Updated estimates and reconciliation of Ore Reserve and Mineral Resource statements for all our assets ORE RESERVES AND MINERAL RESOURCES REPORT 2020 – As per SAMREC Code guidelines and definitions (2016) Ore Reserves and Mineral – Complies with JSE Listings Requirements Resources Report 2020 – Signed off by Competent Persons. Anglo American Platinum Limited Assurance In compliance with the three-year external review and audit schedule, the following detailed audits of data gathering, data transformation and reporting of Ore Reserves and Mineral Resources were carried out in 2020: – Amandelbult Complex – The Mineral Corporation • Tumela Mine • Dishaba Mine Anglo American Platinum Limited Ore Reserves and Mineral Resources Report 2020 1 Ore Reserves and Mineral Resources Operational footprint 28°00'0"E 28°20'0"E 30°0'0"E 25°00'0"S LIMPOPO 25°00'0"S Anglo American Platinum is listed on the JSE Limited and headquartered in Johannesburg, South Africa. Our majority shareholder is Anglo American plc. We focus on extracting value from all the PGMs and base metals we mine – metals that improve people’s lives. We have a portfolio of low-capex, high-return and fast-payback investment opportunities that enhance value. Attractive growth Polokwane options are available to expand margins, Mogalakwena mine Mogalakwena cash flows and returns. North concentrator complex South concentrator Polokwane smelter Mokopane Bokoni Platinum Mine (49%) (JO with Atlatsa) (under care and maintenance) Twickenham mine Modikwa Platinum Mine (50%) Thabazimbi (JO with ARM) Burgersfort Dishaba mine South Africa Concentrator Amandelbult Tumela mine complex Chrome recovery plant Bela-Bela Northam Mototolo 25°00'0"S Mototolo concentrator Der Brochen Mashishing Mortimer smelter NORTH WEST Rustenburg Base Metals GAUTENG Waterval smelter Anglo converter plant (ACP) MPUMALANGA Rustenburg Pretoria Kroondal and Marikana mines (50%) (JO with Sibanye-Stillwater) 0 25 50 1 00 Km 278°300'0"E 28°20'0"E 30°0'0"E 2 Anglo American Platinum Limited Ore Reserves and Mineral Resources Report 2020 28°00'0"E 28°20'0"E 30°0'0"E 25°00'0"S LIMPOPO 25°00'0"S Zambia Harare Zimbabwe Unki Unkimine mine Unki Unkiconcentrator concentratorUnki complex Unki Unkismelter smelter Botswana Harare Namibia Zimbabwe Eswatini South African operations Unki Mine Polokwane Lesotho Mogalakwena mine Mogalakwena Unki smelter 20°0'0"E 30°0'0"E North concentrator complex Great Dyke South concentrator Polokwane smelter We own and operate four mining complexes. Botswana Mokopane In South Africa we operate Mogalakwena, Mozambique Bokoni Platinum Mine (49%) Amandelbult and Mototolo, with Twickenham Mine on care and maintenance. South Africa (JO with Atlatsa) (under care and maintenance) 0 250 500 1 000 In Zimbabwe we operate Unki Mine on the Km Twickenham mine Great Dyke in Zimbabwe. We have interests in three joint operations Modikwa Platinum Mine (50%) (JOs): Thabazimbi (JO with ARM) — Modikwa Platinum Mine (50%), with African Burgersfort Rainbow Minerals Mining Consortium Dishaba mine South Africa Limited Concentrator Amandelbult Thabazimbi — A pooling-and-sharing agreement with complex Tumela mine Sibanye-Stillwater, covering the shallow Chrome Ore Reserves of the Kroondal and Marikana recovery plant Bela-Bela mines (latter on care and maintenance) Mototolo Northam — Bokoni Platinum Mine (49%), with Atlatsa 25°00'0"S Mototolo concentrator Mototolo complex Resources – on care and maintenance Der Brochen Our wholly owned smelting and refining Mashishing Mortimer smelter NORTH WEST operations treat concentrates from our owned operations, and from our JOs and third parties. For more detail on our operations and the 2020 operational Rustenburg Base Metals performance, see our integrated report. GAUTENG Waterval smelter Anglo converter plant (ACP) MPUMALANGA Rustenburg Pretoria Kroondal and Marikana mines (50%) (JO with Sibanye-Stillwater) 0 25 50 1 00 Km 278°300'0"E 28°20'0"E 30°0'0"E Anglo American Platinum Limited Ore Reserves and Mineral Resources Report 2020 3 Ore Reserves and Mineral Resources Ore Reserves and Mineral Resources 149.6 4E Moz of Ore Reserves and 828.9 4E Moz of inclusive Mineral Resources provide the core assets that underpins our purpose to re-imagine mining to improve people's lives. Gordon Smith Executive head: technical General statement The Ore Reserves and Mineral Resources report is issued annually to inform stakeholders, shareholders and potential investors of the mineral assets held by Anglo American Platinum Limited. Our method of reporting Ore Reserves and Mineral Resources is in accordance with the principles and guidelines for public reporting of the South African Code for Reporting of Exploration Results, Mineral Resources and Mineral Reserves (the SAMREC Code, 2016) and section 12.13 of the Listings Requirements of the JSE. From 31 December 2020, our approach of reporting Ore Reserves and Mineral Resources will change from an attributable ownership basis to 100% basis. This will streamline internal reporting processes and ensure alignment between the Anglo American Platinum and Anglo American plc