Impala Platinum Holdings Limited · JSE:IMP

Impala Platinum — Investor Presentation (November 2009)

20 slides from Impala Platinum's investor presentation, November 2009

  1. Slide 1: Investor Presentation: Introducing Implats

    Investor Presentation November 2009 One Team One Vision With Pride Introducing Implats Implats is in the business of mining, refining and marketing platinum group metals and associated base metals One Team One Vision With Pride 2 1

  2. Slide 2: Extensive mineral resources

    Extensive mineral resources  230 million attributable platinum ounces as at 30 June 2009* Tamboti 10% Impala 33% Two River 1% Afplats 10% Marula 3% Mimosa 2% Zimplats 41% * Attributable Mineral Resources (inclusive of Mineral Reserves) One Team One Vision With Pride 3 Implats … Implats share price

  3. Slide 3: Analysis of shareholders; Key statistics

    Analysis of shareholders  Geographical distribution of shareholders as at 30 June 2009 South Africa 54% Other countries 9% Singapore 1% Luxembourg 5% United Kingdom 10% United States 21% Source: JP Morgan/Cazenove One Team One Vision With Pride 5 Key statistics  Operations are located on two prime

  4. Slide 4: Group structure; Metals produced

    Group structure Implats 1 704 000 oz 100% Mine-to-market Mine-to-market Managed Non-managed IRS Operations Operations 45% 100% Impala Two Rivers 116 000 oz Group 3rd Party 950 000 oz Concentrate/Matte Concentrate/Matte Toll treatment Purchase contracts Purchase contracts 205 000 oz 73% 365 000 oz 18

  5. Slide 5: Revenue by metal

    Revenue by metal FY2008 FY2009 5% 5% 7% 6% 20% 27% 54% 62% 7% 7% Platinum Palladium Rhodium Nickel Other One Team One Vision With Pride 9 Operations One Team One Vision With Pride 5

  6. Slide 6: South African operations: Impala (100%)

    South African operations Afplats One Team One Vision With Pride 11 Impala (100%)  Largest single platinum producing entity in the world  Produced 950 000 ounces of platinum in FY2009  Employs 29,500 (41 000 including contractors)  Life-of-mine of 30 years at around 1 million ounces of platinum 

  7. Slide 7: Marula (73%); Two Rivers (45%)

    Marula (73%)  Currently in ramp-up to 125 000 ounces of platinum – 5 year time frame  Produced 74 000 ounces of platinum in concentrate in FY2009  Employs 3,500 including contractors  Has a life-of-mine offtake agreement with IRS  Mining  2 on-reef declines and 1 off-reef conventional decline

  8. Slide 8: Zimbabwean operations: Zimplats (87%)

    Zimbabwean operations Victoria Falls One Team One Vision With Pride 15 Zimplats (87%)  Ramp-up of Phase 1 expansion – 180 000 ounces of platinum  Produced 96 000 ounces of platinum in matte in FY2009  Employs 5,500 including contractors  Has a life-of-mine offtake agreement with IRS  Mining  3

  9. Slide 9: Mimosa (50%); IRS

    Mimosa (50%)  Joint venture with Aquarius Platinum  Produced 91 500 ounces of platinum in concentrate in FY2009  Employs 1,900 including contractors  Has a life-of-mine offtake agreement with IRS  Mining  1 decline  Fully mechanised bord and pillar mining method  MSZ  Processing  Concentra

  10. Slide 10: The Market: Platinum

    The Market One Team One Vision With Pride Platinum 2009 000 oz 2006 2007 2008 Est Demand Automotive 4,040 4,080 3,750 3,010 Jewellery 1,665 1,545 1,355 1,995 Industrial 1,840 1,850 1,755 1,570 Investment (40) 170 425 330 Total 7,505 7,645 7,285 6,905 Supply SA 5,455 5,185 4,485 4,510 Other 2,290 2,3

  11. Slide 11: ETFs and Nymex vs TOCOM; China/Hong Kong imports

    ETF’s and Nymex Vs TOCOM 000 oz $/oz 000 oz 1,800 700 2500 1,600 600 2000 1,400 500 1,200 1500 1,000 400 800 300 1000 600 200 400 500 100 200 0 0 - Nov 09 Jun 08 Jul 09 Nov 09 Jan 08 Jun 08 Jan 09 Jun 09 Jan 08 Jan 09 PT ETFS (Oz) ZKB (Oz) PM Fixing Price Nymex Net Longs TOCOM Net Longs One Team One

  12. Slide 12: Palladium; Rhodium

    Palladium 2009 000 oz 2006 2007 2008 Est Demand Automotive 4,800 5,075 4,860 4,405 Other 3,380 3,305 3,620 3,280 Total 8,180 8,380 8,480 7,685 Supply SA 2,760 2,670 2,355 2,390 Other 6,595 6,445 6,015 4,755 Total 9,355 9,115 8,370 7,145 Supply/Demand Balance 1,175 735 (110) (540) One Team One Vision

  13. Slide 13: Market outlook

    Market outlook  Economic recovery, whilst tentative seems to be gathering pace  Vehicle sales will slowly recover – the legislative net will widen and will continue to tighten  Alternative propulsion will not materially impact in the next 5 – 10 years  Pressure on new mine supply across the glob

  14. Slide 14: Key features - financial and operational

    Key features - financial  Sales revenue down 31% to Headline earnings (cents) R26.1 billion (US$3 billion) 2100 primarily on lower metal prices 1800  Cost of sales reduced by 18% to R16.4 billion 1500 Down 52%  Gross profit declined 45% 1200 to R9.8 billion 900  Group gross margin declined 600 t

  15. Slide 15: Group safety

    Group safety Fatal injury frequency rate (per million man hours) 0.32 0.14 , 0.28 0.12 0.24 0.10 0.20 0.08 0.16 0.06 0.12 0.04 0.08 0.02 0.04 0.00 0.00 Anglo American Anglo Platinum SA Platinum Industry AngloGold Gold Fields Implats Xstrata Rio Tinto Lonmin BHPB FY05 FY06 FY07 FY08 FY09 Implats Grou

  16. Slide 16: Gross profit highlights; Key ratios and margins

    Gross profit highlights Rm FY2009 FY2008 % change Sales 26 121 37 619 (31) Cost of sales (16 359) (19 888) (18) Gross profit 9 762 17 731 (45) Gross margin 37% 47% (21) Revenue per platinum oz 17 217 21 528 (20) Average exchange rate 8.63 7.32 18 achieved (R/$) Closing exchange rate 7.76 7.93 (2) (R

  17. Slide 17: Group tonnes milled; refined platinum production

    Group tonnes milled 000t FY2009 FY2008 % change Impala 15 102 15 855 (5) Marula 1 574 1 455 8 Zimplats 2 357 2 201 7 Mimosa 2 111 1 732 22 Group* 20 083 20 380 (1) * Group includes 50% of Mimosa One Team One Vision With Pride 33 Group refined platinum production 000 oz FY2009 FY2008 % change Impala

  18. Slide 18: Group cost per platinum ounce

    Group cost per platinum ounce R/oz FY2009 FY2008 % change Impala* (Refined) 8 559 6 546 31 Marula* (In concentrate) 11 730 9 020 30 Zimplats (In matte) 11 740 9 215 27 Mimosa (In concentrate) 9 454 7 023 35 Group* (Refined) 9 129 6 930 32 * Excludes share based payments One Team One Vision With Prid

  19. Slide 19: Conclusion; Investing in Implats

    Conclusion  Fundamentals for PGMs remain 000 oz Platinum growth profile sound in the medium- to long- 2000 term 1600  Growth profile to 2.1 million 1200 ounces of platinum by 2014 800  Safety, volumes and cash 400 preservation remain the key 0 FY09 FY10 FY11 FY12 FY13 FY14 priorities Impala Marul

  20. Slide 20: Forward-looking statement

    Forward-looking statement Certain statements contained in this presentation other than the statements of historical fact contain forward-looking statements regarding Implats’ operations, economic performance or financial condition, including, without limitation, those concerning the economic outlook

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