Impala Platinum Holdings Limited · JSE:IMP
Impala Platinum — Royal Bafokeng Platinum — Merrill Lynch Global Metals, Mining & Steel Conference 2019
20 slides from Impala Platinum's conference presentation, May 2019
Slide 1: Merrill Lynch Global Metals, Mining & Steel Conference 2019
MERRILL LYNCH GLOBAL METALS, MINING & STEEL CONFERENCE 2019 20 BARCELONA 13 – 16 MAY 19
Slide 2: Disclaimer
DISCLAIMER The information presented in this presentation is of a general nature and the forward-looking information, opinions and beliefs of the Company and its affiliates are based on various market related assumptions. Changes in market circumstances after the production of the information may im
Slide 3: Contents
CONTENTS Overview Operational review Outlook
Slide 4: Overview
01 OVERVIEW
Slide 5: Broad based community ownership, more than mining
Broad based Community ownership > More than Mining SLP > 87% HDSA Employee 5 years: spend housing R598m Value accretive transactions Royalty Maseve Acquisition of > agreements acquisition Amplats > with Implats interest Low cost, high margin ounces We provide a clear value proposition by BRPM: Shall
Slide 6: Geographic location of our operations
GEOGRAPHIC LOCATION OF OUR OPERATIONS BRPM Styldrift | Maseve wet North West \\Corporate Office Free state Kwa Zulu Natal Eastern Cape Western Cape RBPlat Operations: > BRPM a) Styldrift | Maseve é Styldrift II VvvVvVNv Merrill Lynch Global Metals, Mining & Steel Conference 2019
Slide 7: Royal Bafokeng Holdings ownership and group structure
Royal Bafokeng Holdings (Pty) Ltd Employees and Directors Free Float (RBH) 4% 40% 56% 100% 100% Royal Bafokeng Platinum Management Royal Bafokeng Resources (Pty) Ltd Maseve Investment 11 (Pty) Ltd Services (Pty) Ltd Bafokeng Rasimone Management Royal Bafokeng Resources Services (Pty) Ltd Properties
Slide 8: Ownership, performance and spending to grow
2010 2018 OWNERSHIP OWNERSHIP PERFORMANCE 2 366kt milled 3 420kt milled 67% 100% ownership of ownership of LTIFR LTIFR BRPM JV our operations 5.00 2.48 LABOUR 260Mt 348Mt OPERATIONS STABILITY RESOURCES 67% 100% Consistent stable labour and community relations SOCIAL FREE FLOAT SHAREHOLDING PERFORMAN
Slide 9: SA PGM cost curve and RBPlat share price performance
SA PGM Industry CY18 cost curve - Net total cash cost including SIB capex RBPlat share price performance since listing (rebased to 100) 140 Since listing RBPlat has performed better than the Platinum Index 120 100 80 60 Market capitalisation (R’billion) 250 194.7 200 40 150 100 20 42.1 50 30.4 8.6 3
Slide 10: Transformative year and robust funding position
> Transformative year for > 7.7% > Robust funding position > Finance focus areas for Royal Bafokeng Platinum 2019 and beyond R665.9 > 37.3%
Slide 11: Operational review
02 OPERATIONAL REVIEW —« ROYAL BAFOKENG GP Pratingy
Slide 12: Achieving safe production remains key to operational excellence
Achieving safe Leading employee production remains key health and wellness to operational programmes and excellence initiatives Organic growth Operational flexibility underpinned by increased through ongoing production from Styldrift asset optimisation and additional and appropriate BRPM Styldrift t
Slide 13: Efficiency-based reduction targets for steady state operations
We have efficiency-based reduction targets for our steady state operations BRPM and Styldrift retained ISO 14001 certification B scores for climate change and water submissions to the CDP We subscribe to SDG 13: Taking action to combat climate change Investigating development of renewable energy sou
Slide 14: Key infrastructure required for 230ktpm
Key infrastructure required for 230ktpm > 642 level infrastructure to complement 230ktpm footprint > Production sections 4 North, 5 North and 4 South > Primary and secondary fleet > Silo 3 Surface infrastructure Key LOM infrastructure > Ventilation shaft 2 Production infrastructure > Main shaft > Si
Slide 15: Maseve concentrator upgrade and chrome recovery
Maseve concentrator Chrome recovery upgrade > Maseve concentrator > Full co-processing > Value add to UG2 capability > Volume 160ktpm – 200ktpm > Recovery benefit UG2 optionality Operational focus areas > Improved UG2 revenue > IMS basket price > Cost management > Re-introduce South shaft UG2 > Cape
Slide 16: Q1 2019 safety and production results
Quarter 1 2018 vs. Unaudited quarter ended Unaudited quarter ended Description Unit Quarter 1 2019 31 March 2019 31 March 2018 % Change Safety TIFR (/1 000 000 hrs) rate 8.39 10.05 16.5 SIFR (/1 000 000 hrs) rate 1.60 2.57 37.7 LTIFR (/1 000 000 hrs) rate 2.60 3.27 20.5 Production Tonnes delivered t
Slide 17: Metals in concentrate produced and cash operating costs
Quarter 1 2018 vs. Unaudited quarter ended Unaudited quarter ended Description Unit Quarter 1 2019 31 March 2019 31 March 2018 % Change Metals in concentrate produced RBPlat 4E koz 91.3 81.1 12.6 Platinum koz 59.4 52.3 13.6 BRPM 4E koz 58.5 63.5 (7.9) Platinum koz 38.1 40.9 (6.8) Styldrift 4E koz 32
Slide 18: Capital expenditure
Quarter 1 2018 vs. Unaudited quarter ended Unaudited quarter ended Description Unit Quarter 1 2019 31 March 2019 31 March 2018 % Change Capital expenditure Total capital R'm 281.4 599.3 53.0 Expansion R'm 260.5 566.2 54.0 Replacement R'm 1.1 10.6 89.6 Stay-in-business (SIB) R'm 19.8 22.5 12.0 BRPM R
Slide 19: Outlook
03 OUTLOOK
Slide 20: Guidance
> > safety culture remains key > Guidance • Production is forecast to be between 4.0Mt and 4.4Mt yielding between 450koz and 480koz 4E metals in concentrate • Forecast built-up head grade of 3.91g/t to 4.02g/t (4E) • Total capex for 2019 forecast at approximately R1.7 billion - SIB expenditure is ex
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