Resources & Reserves

The mineral resources for Platinum Group Minerals (PGMs) and Chromite were estimated and classified in accordance with the SAMREC Code of 31 December 2016. Various Competent Persons, as defined by the SAMREC code, have contributed to the estimation and summary of the mineral resource and mineral reserve figures quoted in this report.

The Exploration Manager, Jan van der Merwe, PrSciNat registration No. 400144/09, a full-time employee of Sedibelo Platinum Mines, assumes responsibility for mineral resource estimates for the company. He also assumes responsibility for the collation of the combined mineral resource and mineral reserve statement. The Competent Person has 29 years’ geological, exploration and mineral resource management experience in PGM-bearing deposits.

Mineral resources account for estimated geological losses and are reported as in situ, and are reported inclusive of the mineral reserves. Mineral reserves include allowances for mining dilution and mining related ore losses.
The mineral resources and reserves were updated and validated by SRK Consulting (South Africa), effective 31 December 2016.

PGM MINERAL RESOURCES AND RESERVES

PGM Mineral Resources as at 31 December 2016
Resource AreaTonnage (Mt)PGM Grade (g/t)Contained 4E
Attributable to SPMBase Metal Grade (%)Contained Base Metal (kt)
  4EPtPdRhAuMoz%MozNiCuNiCu
Measured Mineral Resources            
West Pit 0.4 4.14 2.45 1.21 0.42 0.06 0.1 100% 0.1 0.044 0.012 0.2 0.1
Magazynskraal / Sedibelo East 11.7 5.58 3.37 1.52 0.68 0.02 2.1 100% 2.1 0.015 0.004 1.8 0.4
Total Measured Resources 12.1 5.53 3.34 1.51 0.67 0.02 2.2   2.2 0.017 0.004 2.0 0.5
              
Indicated Mineral Resources            
West Pit 43.2 2.77 1.68 0.80 0.22 0.07 3.8 100% 3.8 0.111 0.021 47.9 9.0
East Pit 25.1 2.71 1.60 0.80 0.24 0.07 2.2 100% 2.2 0.106 0.024 26.5 6.1
Sedibelo Central 36.2 5.44 3.32 1.59 0.48 0.06 6.3 100% 6.3 0.068 0.022 24.6 8.0
Sedibelo Central - crown pillar 0.4 5.62 3.46 1.66 0.45 0.06 0.1 100% 0.1 0.061 0.022 0.3 0.1
Magazynskraal/Sedibelo East 71.7 4.17 2.57 1.15 0.37 0.08 9.6 100% 9.6 0.080 0.027 57.6 19.2
Mphahlele 1 49.6 4.18 2.20 1.51 0.30 0.16 6.7 75% 5.0 0.138 0.088 68.3 43.4
Grootboom 12.2 4.58 2.35 1.83 0.34 0.06 1.8 100% 1.8        
Ruighoek 12.0 3.07 1.91 0.85 0.22 0.09 1.2 100% 1.2 0.083 0.019 9.9 2.3
Total Indicated Resources 250.3 3.94 2.31 1.21 0.33 0.09 31.6   30.0 0.094 0.035 235.1 88.1
              
Inferred Mineral Resources            
West Pit 28.7 2.89 1.74 0.84 0.22 0.09 2.7 100% 2.7 0.103 0.026 29.4 7.6
West Pit low grade stockpile 25.1 0.80         0.6 100% 0.6        
East Pit 6.2 1.83 1.10 0.54 0.11 0.08 0.4 100% 0.4 0.133 0.019 8.2 1.2
Magazynskraal/Sedibelo East 97.9 4.57 2.83 1.26 0.40 0.08 14.4 100% 14.4 0.081 0.025 78.9 24.8
Kruidfontein 148.8 6.54 4.11 1.72 0.56 0.14 31.3 100% 31.3 0.132 0.032 197.1 48.1
Mphahlele 1 71.9 3.75 1.97 1.38 0.25 0.16 8.7 75% 6.5 0.128 0.095 91.6 68.5
Witkleifontein 16.3 4.68 2.86 1.36 0.35 0.11 2.5 100% 2.5 0.050 0.020 8.9 3.6
Rooderand 5.1 4.76 2.90 1.41 0.33 0.12 0.8 100% 0.8 0.050 0.030 2.6 1.4
Ruighoek 17.7 4.34 2.72 1.20 0.31 0.11 2.5 100% 2.5 0.090 0.030 15.9 5.3
Loskop - De Wagendrift 2 8.8 4.28 2.73 1.28 - 0.27 1.2 50% 0.6 0.22 0.09 19.3 8.4
Loskop - Rietfontein 3 15.9 3.91 2.45 1.19 - 0.27 2.0 23.5% 0.5 0.18 0.08 28.6 12.7
Total Inferred Resources 442.4 4.94 3.02 1.41 0.38 0.13 67.2   62.8 0.12 0.04 480.5 181.6

 

PGM Mineral Reserves as at 31 December 2016
Probable Mineral Reserves     
Reserve AreaTonnage (Mt)4E PGM Grade (g/t)Contained 4E (Moz)Attributable to SPM
 %Moz
West Pit 21.5 1.97 2.0 100% 2.0
East Pit 19.0 2.02 1.2 100% 1.2
Sedibelo Central 26.6 4.51 4.4 100% 4.4
Magazynskraal/Sedibelo East 28.5 5.04 4.6 100% 4.6
Ruighoek 5.1 3.13 0.5 100% 0.5
Mphahlele 1 44.1 3.34 4.7 75% 3.6
Total Probable Reserves 144.8 3.51 17.4   16.3

 

Attributable Interest:
  • The mineral resources in the tables above reflect 100% of each project as well as the PGM ounces attributable to SPM.
  • SPM’s attributable interest is 100% for all the projects except for Mphahlele and Grootboom.
  • 1 Mphahlele: SPM’s attributable interest in the Mphahlele Project is 75%.
  • 2 & 3 The Loskop Projects is a JV with Western Platinum Mines (Lonmin). SPM’s attributable interest is 23.5% for Rietfontein and 50% for De Wagendrift.
Notes:
  • The measured and indicated mineral resources are reported inclusive of mineral reserves.
  • Reserves are reported as run-of-mine (RoM) ore after all modifying factors have been applied.
  • SPM: Sedibelo Platinum Mines
  • PGM: Platinum group metals
  • 4E: Refers to the sum of platinum, palladium, rhodium and gold content (also referred to as 3PGM+Au).
  • g/t: Grams per metric tonne (equivalent to parts per million).
  • Moz: Million troy ounces.
  • Mt: Abbreviation for million metric tonnes.
  • kt: Abbreviation for kilo tonnes.
Reefs:
  • West Pit & East Pit: The mineral resource comprises the UG2 Chromitite and the Silicate package (S2), which is a combination of the Upper and Lower Pseudo Reefs, the Pseudo Reef Harzburgite, and portions of the Merensky Reef.
  • Ruighoek, Rooderand and Witkleifontein: Merensky Reef and UG2 Chromitite.
  • Sedibelo Central, Sedibelo East, Magazynskraal and Kruidfontein: The mineral resource comprises the UG2 Chromitite, the Upper Pseudo Reef and portions of the Merensky Reef.
  • Mphahlele: Merensky Reef and UG2 Chromitite.
  • Grootboom: UG2 Chromitite
  • Loskop Projects: Upper Mineralised Pyroxenite
Mineral Resource Farms:
  • West Pit: Tuschenkomst 135 JP, portion of Wilgespruit 2 JQ, portion of portion 1 of Rooderand 46 JQ
  • East Pit: Wilgespruit 2 JQ
  • Rooderand: portion 3 of Rooderand 46 JQ
  • Witkleifontein: portion 1 & Re of Witkleifontein 136 JP
  • Ruighoek: various portions of Ruighoek 169 JP
  • Sedibelo Central & Sedibelo East: Wilgespruit 2 JQ, Legkraal 45 JQ & Koedoesfontein 42 JQ
  • Magazynskraal: Magazynskraal 3 JQ
  • Kruidfontein: Kruidfontein 40 JQ, portions 1, 2 & Re of Middelkuil 8 JQ, portions 1, 2 & Re of Modderkuil 39 JQ
  • Mphahlele: Locatie van M'Phatlele 457 KS
  • Grootboom: Grootboom 336 KT
  • Loskop: De Wagendrift 79 JS and various portions of Rietfontein 70 JS

 

CHROMITE MINERAL RESOURCES AND RESERVES

Chromite Mineral Resources and Reserves as at 31 December 2016
Mineral Resources    Mineral Reserves   
 Tonnage (Mt)Cr2O3 Grade (%)Cr2O3 Content (kt)       Tonnage (Mt)Cr2O3 Grade (%)Cr2O3 Content (kt)
           
Indicated Mineral Resources      Probable Mineral Reserves   
West Pit 13.3 22.50% 2 992.5   West Pit 9.1 24.80% 2 265.7
Magazynskraal/Sedibelo East 34.4 29.40% 10 108.0   Magazynskraal/Sedibelo East 20.6 24.80% 5 140.9
Total Indicated Resources 47.7 27.46% 13 100.5   Total Indicated Resources 29.7 24.80% 7 406.6
                                        
Inferred Mineral Resources   
West Pit 2.3 23.70% 545.1
East Pit 7.6 26.26% 1 982.9
Sedibelo Central 22.9 30.67% 7 020.4
Magazynskraal/Sedibelo East 66.2 29.40% 19 437.0
Total Inferred Resources 98.9 29.30% 28 985.4

Notes:
  • All Chromite (Cr2O3) resources and reserves listed above are sourced from the UG2 Chromitite.