Impala Platinum Holdings Limited · JSE:IMP

Impala Platinum — Corporate Update (October 2002)

10 slides from Impala Platinum's corporate update, Oct 11, 2002

  1. Slide 1: Makwiro Platinum Mines - Implats Analyst Visit

    Makwiro Platinum Mines Implats Analyst Visit 10th and 11th October 2002 Welcome and Introduction Les Paton - Implats 1

  2. Slide 2: Background and Implats Group Structure

    BACKGROUND ƒ Acquired effective 41% stake in 2001 ƒ Increased stake to 55% in August 2002 ƒ Offtake agreement with Impala Refining Services IMPLATS GROUP STRUCTURE Implats 100% Mining Impala Refining Strategic holdings operations Services (IRS) & alliances Concentrate 100% offtake Impala agreements

  3. Slide 3: Project Overview

    PROJECT OVERVIEW Ngezi Mine (Ngezi – Zimbabwe) Makwiro ore transported 77kms by road trains Platinum Mine Selous Metallurgical Complex (Selous – Zimbabwe) ‘green’ matte transported by trucks Mineral Processes (Rustenburg – South Africa) IRS Contract matte transported by trucks Refineries (Springs –

  4. Slide 4: The Project

    THE PROJECT Objectives ƒ Exploit shallow ore at Ngezi ƒ Process at Selous Metallurgical Complex (SMC) ex BHP facility Resource ƒ 40Mt at a recoverable grade of 3.36gt 4E ƒ Shallow dipping ore body (4°) ƒ Mining depth - 20 to 50m ƒ 13:1 strip ratio THE PROJECT Mining operations ƒ Open cast mining ƒ 2

  5. Slide 5: The Project

    THE PROJECT Metallurgical operations ƒ 93 000 tonnes concentrate at 84% recovery ƒ 3 200 tonnes matte at 99.4% recovery ƒ 202 000 ounces 4E ƒ Metal splits Platinum 98 658 oz Palladium 83 632 oz Rhodium 7 992 oz Gold 12 407 oz Nickel 1 302 t THE PROJECT Time frame ƒ Project duration 7 months ƒ Year 1

  6. Slide 6: The Project / The Outcomes

    THE PROJECT ƒ Capital Expenditure ƒ Ngezi Mine US$10m ƒ Road US$19m ƒ SMC US$ 5m ƒ Total US$34m ƒ Funding ƒ Impala equity US$30m ƒ Absa loan US$30m ƒ Peak funding US$54m ƒ Shareholding ƒ Impala 30% ƒ Zimplats 70% THE OUTCOMES ƒ Commenced as per schedule ƒ 11 months to full commissioning ƒ Capital ex

  7. Slide 7: The Outcomes

    THE OUTCOMES Forecast for first full year to June 2003 versus first year feasibility and actual to September 2002 Feasibility Forecast Ore milled t 2 002 000 2 086 000 Grade g/t 3.36 3.1 Concentrate t 85 000 87 631 Concentrator recoveries % 85 84 Matte t 2 790 3 109 Matte recoveries % 99.4 99.4 Meta

  8. Slide 8: Challenges and Opportunities

    CHALLENGES ƒ Equipment availability at the mine ƒ Grade control ƒ Commissioning SMC ƒ Retention / development of people ƒ AIDS ƒ Infrastructure / service sector support OPPORTUNITIES ƒ SMC smelting capacity ƒ Underground mining at Ngezi ƒ Zimplats reserves ƒ Local manufacture of steel balls 8

  9. Slide 9: Safety, Health and Environment; Socio-Political Situation

    SAFETY, HEALTH AND ENVIRONMENT ƒ Risk analyses completed on all operations ƒ All employees inducted in SHE ƒ Internal and external audits ƒ Compliance with all local environmental legal requirements and those associated with an Australian- listed company ƒ Safety statistics ƒ 7 lost time accidents t

  10. Slide 10: Makwiro Platinum Mines

    Makwiro Platinum Mines Implats Analyst Visit 10th and 11th October 2002 10

Impala Platinum Holdings — Corporate Update (October 2002) on 6ix