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Resources and Reserves
The Mineral Resources and Mineral Reserves of the Implats group reflect and support the growth opportunities of the company which is intent on delivering 2.3 million ounces of platinum by 2010, 2.5 million ounces by 2012 and striving for 2.8 million ounces thereafter. The group accordingly remains committed to the following:
- Growth of the Mineral Resource base by leveraging and optimising current assets, exploration and acquisitions; including alliances and equity interests with third parties.
- Continuous improvement in the management of Mineral Resources, processes and related systems.
- Addressing skills development and retention.
- Full commitment to the legislative regime that governs mineral rights ownership.
- Transparent disclosure of the Mineral Resources and Mineral Reserves aligned with the prescribed codes, SAMREC and JORC.
Material changes in Mineral Resource and Reserve estimates
The major factors having impacted on Implats' Mineral Resources and Mineral Reserves as at 30 June 2007 relative to the previous reporting period include the following:
- The acquisition of Afplats which boosted the overall inventory.
- Consistent reporting of Mineral Resources inclusive of Mineral Reserves in FY2007.
- Standardisation of reporting metal content in terms of 3PGE+Au (g/t) in FY2007. This refers to the sum of platinum, palladium, rhodium and gold grades.
- Reporting of attributable Mineral Resources and Mineral Reserves based on equity ownership as opposed to the previous mine-to-market basis.
- A revision and update of the Mineral Resources and Mineral Reserve categories in selected areas, aligned with recommendations from third party audits.
- Specific changes relating to the estimates are clarified under each sub-section per operation.
Download full attributable Mineral Resources and Mineral Reserves as at 30 June 2007 (PDF - 6.27MB)
See Mineral Resources and Mineral Reserves section in the Annual Report 2007 for full details.