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Exxaro Resources Limited
Consolidated Mineral Resources and Mineral Reserves Report

Overview

Overview of Coal Resource and Coal Reserve estimates

Our consolidated Mineral Resource and Mineral Reserve report

Ancillary Resource and Reserve information by operation

Additional Information

Currently viewing: Our consolidated Mineral Resource and Mineral Reserve report / Summarised group Mineral Resource and Mineral Reserve estimates

Summarised group Mineral Resource and Mineral Reserve estimates

The Mineral Resources and Mineral Reserves remaining as at 31 December 2019 are indicated in this document. Mineral Resource and Mineral Reserve figures are not an inventory of all mineral occurrences drilled or sampled but a realistic record of those which, under assumed and justifiable technical and economic conditions, may be economically extractable currently and in future.

Mineral Resources and Mineral Reserves are reported inclusive of Mineral Resources that have been converted to Mineral Reserves. An exception is reporting for Gamsberg and Black Mountain Mining because figures received from Vedanta (JORC Code) represent Mineral Resources excluding those Mineral Resources converted to Mineral Reserves.

Exxaro includes all estimates directly under its management control and estimates of entities in which Exxaro holds a 25% interest or larger. Mineral Resources and Mineral Reserves are reported at 100% irrespective of the percentage attributable to Exxaro.

The percentage attributable tonnage (only coal) can be deduced from the attributable ownership (Figure 8) stated in the Coal Resources and Coal Reserves tables and the summarised tonnages are shown in Table 4.

Explanations for material changes in year-on-year movements are provided as footnotes in the Mineral Resources and Mineral Reserves tables.

Table 4: Attributable Coal Resource and Coal Reserve tonnages

Commodity: Coal Resource Category   2019
MTIS (Mt)
Exxaro attributable tonnes Measured   4 573
Indicated   2 211
Inferred   3 937
Total Coal Resources   10 721
Proved   2 917
Probable   757
Total Coal Reserves   3 675

Figure 8: Coal joint venture operations in Mpumalanga

Coal Resources

The table below details the total inclusive Coal Resources estimated as at 31 December 2019.

Table 5: Coal Resources and qualities

         2019     2018 
         Tonnes and quality4     Tonnes and quality4 
Operation1  Location3  Resource 
category 		 Tonnes 
(Mt)		 CV 
MJ/kg 		 % 
Ash 		 % 
IM 		 % 
VM 		 % 
S 		    Tonnes
(Mt)		 CV 
MJ/kg 		 % 
Ash 		 % 
IM 		 % 
S 		 change 
in  
tonnes5
Arnot mine6     Measured  20.2  24.2  26.6  4.0  26.6  1.0     20.2  24.2  26.6  4.0  1.0    
(OC) (in closure) Indicated  18.9  24.5  26.7  3.8  26.7  0.9     18.9  24.5  26.7  3.8  0.9    
Mpumalanga  Inferred  8.8  24.0  26.7  3.9  26.7  0.8     8.8  24.0  26.7  3.9  0.8    
100% attributable to Exxaro2     Total  47.9  24.3  26.7  3.9  26.7  1.0     47.9  24.3  26.7  3.9  1.0    
Resources inside LoM plan                           
Arnot mine6    Measured  118.3  23.6  22.0  4.0  23.6  1.0     118.3  23.6  22.0  4.0  1.0    
(UG) (in closure) Indicated  45.4  23.4  22.6  4.2  22.5  0.9     45.4  23.4  22.6  4.2  0.9    
Mpumalanga  Inferred  12.5  23.8  21.4  4.3  22.0  0.9     12.5  23.8  21.4  4.3  0.9    
100% attributable to Exxaro2  Total  176.2  23.5  22.1  4.1  23.2  1.0     176.2  23.5  22.1  4.1  1.0    
Resources inside LoM plan                           
Matla mine    Measured  705  20.2  30.6  4.5  22.0  1.0     713  20.2  30.6  4.5  1.0  (1)
(UG) (captive market) Indicated  105  21.1  27.6  4.3  22.1  0.9     97  20.8  28.1  4.4  0.9  8 
Mpumalanga  Inferred  232  19.6  30.8  4.5  21.3  0.9     240  19.6  30.9  4.5  0.9  (3)
100% attributable to Exxaro2  Total  1 043  20.1  30.4  4.5  21.8  1.0     1 050  20.1  30.4  4.5  1.0  (1)
Resources inside LoM plan  311  21.2  27.6  4.7  22.9  1.0     327  21.1  27.7  4.7  1.0  (5)
Leeuwpan mine    Measured  92.8  20.1  31.3  3.0  18.1  1.1     101.1  20.1  31.3  3.2  1.1  (8)
(OC)
(commercial market)		 Indicated  2.6  20.7  29.1  2.8  21.1  1.2     2.6  20.7  29.1  2.8  1.2    
Mpumalanga  Inferred  3.6  21.0  32.3  2.3  14.0  1.1     3.6  21.0  32.3  2.3  1.1    
100% attributable to Exxaro2  Total  99.0  20.2  31.3  2.9  18.0  1.1     107.3  20.1  31.3  3.2  1.1    
Resources inside LoM plan  64.6  20.0  31.1  2.7  18.9  1.2     71.7  20.0  31.1  3.1  1.2    
Mafube mine7    Measured  117.6  21.5  26.9  3.8  22.4  1.0     124.5  21.5  26.9  3.8  1.0  (6)
(OC)
(commercial market)		 Indicated  9.7  21.9  25.9  3.9  22.6  0.9     10.1  22.0  25.7  3.9  0.9  (4)
Mpumalanga  Inferred                           
50% attributable to Exxaro2  Total  127.3  21.5  26.8  3.8  22.4  1.0     134.7  21.6  26.8  3.8  1.0  (5)
Resources inside LoM plan  56.5  21.9  25.6  3.7  22.7  1.0     61.7  21.9  25.6  3.7  1.0  (8)
Belfast mine    Measured  74.6  24.9  18.5  3.6  23.3  1.1     81.1  24.8  18.7  3.6  1.1  (8)
(OC) (mining right) Indicated  20.1  22.4  25.2  3.6  22.0  1.1     22.4  21.6  26.9  3.7  1.1  (10)
Mpumalanga  Inferred  34.1  21.6  26.8  3.4  20.9  0.8     34.4  20.0  31.2  3.4  1.0  (1)
100% attributable to Exxaro2  Total  128.8  23.6  21.7  3.5  22.5  1.0     137.8  23.1  23.2  3.6  1.1  (7)
Resources inside LoM plan  45.7  25.0  18.3  3.5  23.6  1.2     47.1  25.2  17.6  3.6  1.2  (3)
Dorstfontein complex8    Measured  149.1  19.8  33.6  2.9  20.0  1.1     156.4  19.9  33.3  2.9  1.1  (5)
(OC/UG)
(commercial market)		 Indicated  135.5  19.3  34.4  3.1  19.8  1.2     137.5  19.3  34.2  3.2  1.2  (1)
Mpumalanga  Inferred  52.1  19.3  34.4  2.9  19.3  1.1     52.8  19.3  34.6  2.9  1.1  (1)
74% attributable to Exxaro2  Total  336.7  19.5  34.0  3.0  19.8  1.1     346.7  19.6  33.9  3.0  1.1  (3)
Resources inside LoM plan  102.2  20.0  32.5  3.0  20.2  1.1     117.9  19.9  32.7  3.0  1.1  (13)
Forzando complex9    Measured  85.5  21.6  29.1  2.8  23.3  1.1     81.5  21.6  29.1  2.8  1.1  5 
(OC/UG)
(commercial market)		 Indicated  36.3  22.2  27.6  2.8  22.7  1.3     35.9  22.3  27.5  2.8  1.2  1 
Mpumalanga  Inferred  26.4  21.2  30.2  2.9  20.6  1.2     25.8  21.3  30.1  2.9  1.2  2 
86.74% attributable to Exxaro2  Total  148.2  21.7  28.9  2.9  22.6  1.2     143.2  21.8  28.9  2.8  1.2  3 
Resources inside LoM plan  43.3  21.2  30.1  2.8  22.9  1.1     70.3  21.2  30.0  2.8  1.1  (38)
Forzando projects    Measured  0.2  21.3  30.7  2.5  19.6  0.5     0.2  21.4  30.6  2.5  0.5  8 
(prospecting right) Indicated  2.1  21.6  29.5  2.7  18.0  0.7     1.6  21.6  29.3   2.7  0.7  26 
Mpumalanga  Inferred  0.5  18.0  38.5  3.1  16.6  0.6     0.4  17.7  39.3   3.1  0.6  16 
86.74% attributable to Exxaro2    Total  2.8  20.9  31.1  2.8  17.9  0.6     2.3  20.8  31.2  2.8  0.6  22 
Schurvekop 1063 PR10    Measured  35.5  20.1  31.9  3.3  22.0  1.2     35.0  20.2  31.7  3.3  1.2  1 
(prospecting right) Mpumalanga  Indicated  6.5  20.1  31.9  3.3  21.0  1.2     5.6  20.1  31.7  3.3  1.1  16 
49% attributable to Exxaro2  Inferred  0.2  19.6  32.6  3.8  21.7  0.8     0.2  19.7  32.3  3.8  0.8   
      Total  42.2  20.0  32.2  3.3  21.9  1.2     40.8  20.1  31.7  3.3  1.2  3 
Tumelo mine10    Measured  8.4  21.6  29.9  2.5  21.6  1.5     8.7  21.7  29.7  2.5  1.5  (3)
(UG) Mpumalanga  Indicated  0.2  20.6  32.8  2.5  21.1  1.6     0.2  20.6  32.8  2.5  1.6   
49% attributable to Exxaro2  Inferred  1.8  21.4  31.0  2.4  19.4  1.8     1.8  21.4  31.0  2.4  1.8   
      Total  10.4  21.5  30.1  2.5  21.2  1.6     10.7  21.6  29.9  2.5  1.6  (3)
Grootegeluk mine    Measured  2 786  16.7  47.8  1.7  20.3  1.5     2 844  16.7  47.8  1.7  1.5  (2)
(OC)
(commercial market)		 Indicated  1 017  16.5  48.4  1.6  20.0  1.4     1 017  16.5  48.4  1.6  1.4    
Limpopo  Inferred  653  16.5  48.0  1.8  20.1  1.5     653  16.5  48.0  1.8  1.5    
100% attributable to Exxaro2     Total  4 455  16.7  48.0  1.7  20.2  1.5     4 514  18.2  48.0  1.7  1.5  (1)
Resources inside Grootegeluk opencast LoM plan  3 722  16.3  48.8  1.7  20.2  1.5     3 780  16.3  48.8  1.7  1.5  (2)
Thabametsi project11    Measured  270  13.0  52.3  1.9  20.0  1.2     270  13.0  52.3  1.9  1.2    
(OC/UG)
(mining right)		 Indicated  749  12.6  53.1  1.8  19.8  1.1     749  12.6  53.1  1.8  1.1    
Limpopo   Inferred  2 916  12.7  52.7  1.9  19.3  1.3     2 916  12.7  52.7  1.9  1.3    
100% attributable to Exxaro2     Total  3 935  12.7  52.7  1.9  19.7  1.3     3 935  12.7  52.7  1.9  1.3    
Resources inside LoM plan  133  12.0  54.7  1.9  20.0  1.0     133  12.0  54.7  1.9  1.0    
Waterberg North project12    Measured  Relinquished                      
(prospecting) Indicated                      
Limpopo  Inferred     2 147  13.3  49.7  2.5  1.2    
100% attributable to Exxaro2     Total     2 147  13.3  49.7  2.5  1.2    
Moranbah South project13    Measured  Relinquished                      
(UG) (prospecting) Australia  Indicated                      
50% attributable to Exxaro2  Inferred     869  15.9  39.6  2.9  1.7    
      Total     869  15.9  39.6  2.9  1.7    
Moranbah South project13    Measured  482  26.7  23.7  2.6  18.5  0.6     482  26.7  23.7  2.6  0.6    
(UG) (prospecting) Australia  Indicated  222  27.3  21.7  2.6  17.9  0.6     222  27.3  21.7  2.6  0.6    
50% attributable to Exxaro2  Inferred  28  28.5  18.9  2.7  17.0  0.5     28  28.5  18.9  2.7  0.5    
      Total  732  27.0  22.9  2.6  18.3  0.6     732  27.0  22.9  2.6  0.6    

Rounding of figures may cause computational discrepancies

  • All changes more than 10% are explained. Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt.
  • Coal Resources and qualities (raw coal) are quoted on a mineable tonnage in-situ (MTIS) and air-dried basis.
  • Coal Resources are quoted inclusive of Coal Resources that have been modified to Coal Reserves unless otherwise stated.
  • Resources inside LoM plan refer to total MTIS Resources in LoM plan layout.
  1. Operation refers to operating mine or significant project. The mining methods are opencast (OC) and underground (UG).
  2. Figures are reported at 100% irrespective of percentage attributable to Exxaro and refer to 2019 only.
  3. Locality maps are for illustrative purposes only. Detailed maps are provided in the ancillary section.
  4. Raw coal qualities (air-dried basis). CV: calorific value (gross), IM: inherent moisture, S: total sulphur and VM: volatile matter.
  5. The percentage difference between 2019 reported MTIS and 2018 reported MTIS with brackets signifying a negative.
  6. Mine is in closure. The remaining Coal Resources have reasonable prospects for eventual economic extraction.
  7. Estimates are received from Anglo American Coal Proprietary Limited and not audited by Exxaro.
  8. The complex comprises the East (opencast) and West (underground) operations. In 2018 the Resources inside LoM plan were erroneously stated as 228.8Mt and this was corrected to 117.9Mt. The change in Resources inside LoM is the result of layout outline refinement.
  9. The complex comprises the North (underground) and South (opencast and underground) operations. The decrease reflects the change in Coal Reserves.
  10. Estimates are received from Mmakau Mining, the majority (51%) owner of the project.
  11. The project is adjacent to the operating Grootegeluk mine.
  12. The projects were relinquished after careful consideration of the strategic fit of the four prospecting rights. The projects are in closure.
  13. Estimates are received from Anglo American Metallurgical Coal Proprietary Limited and not audited by Exxaro.

 

Coal Reserves

The table below details the total Coal Reserves estimated as at 31 December 2019.

Table 6: Coal Reserves reported

              2019  2018   
              RoM and saleable tonnes5  RoM and saleable tonnes5   
Operation1  Location3  Life of
mine
(years)4 		 Category    RoM 
(Mt)		 RoM 
moisture 
% 		 Export 
(Mt 		 Thermal 
(Mt)		 Metal-lurgical 
(Mt)		 RoM 
(Mt) 		RoM 
moisture 
% 		 Export 
(Mt)		 Thermal 
(Mt)		 Metal-lurgical 
(Mt)		 %  
change  
in   RoM6
Matla mine7    4+  Proved    145.3  7.7    145.3       171.6  7.8    171.6    (15)
(UG)
(captive market)		 Probable    15.6  9.7    15.6       16.3  6.3    16.3    (4)
100% attributable to Exxaro2  Total    160.9  7.9    160.9       187.9  7.6    187.9    (14)
Inferred Resources inside LoM plan    27.2       25.6           6 
Leeuwpan mine8    11  Proved    45.9  3.1    33.2  53.7        3.2     38.8     (14)
(OC)
(commercial market)		 Probable    6.1  2.7    3.2  1.3        2.7     2.3  0.4  (1)
100% attributable to Exxaro2  Total    52.1  3.1    36.4  1.3        3.1     41.0  0.4  (13)
Inferred Resources inside LoM plan                                   
Mafube mine9    11  Proved                                
(OC)
(commercial market)		 Probable    56.7  8.4  36.9      62.0  8.3  26.5  13.9     (9)
50% attributable to Exxaro2  Total    56.7  8.4  36.9      62.0  8.3  26.5  13.9     (9)
Inferred Resources inside LoM plan                                   
Belfast mine     12  Proved    42.2  3.3  30.8  6.9       45.7     35.3  8.1     (8)
(OC)
(commercial market)		 Probable    1.4  3.0  0.7  0.6                    100 
100% attributable to Exxaro2  Total    43.6  3.3  31.6  7.5       45.7     35.1  8.1     (5)
Inferred Resources inside LoM plan    0.7           0.5             40 
Dorstfontein complex10    17+  Proved    46.5  3.3  14.3  14.0    54.3  2.7  29.4        (14)
(OC/UG)
(commercial market)		 Probable    41.5  3.3  13.3  13.3       40.5  3.1  24.6        2 
74% attributable to Exxaro2  Total    88.0  3.3  27.6  27.4       94.8  2.9  54.0        (7)
Inferred Resources inside LoM plan    0.9  3.3  0.3  0.2       5.7  2.8  2.8        (84)
Forzando complex11    8+  Proved    23.9  2.7  13.8          38.6  2.2  19.9        (38)
(OC/UG)
(commercial market)		 Probable    10.7  2.9  6.4          15.9  2.8  9.3        (33)
86.74% attributable to Exxaro2  Total    34.6  2.8  20.2          54.5  2.4  29.2        (37)
Inferred Resources inside LoM plan    0.1  2.9            7.5  2.5  4.0        (99)
Waterberg Complex                                               
Grootegeluk mine   20+   Proved    2 520  3.0  146  1 015  70     2 576  3.0  149  1 039  72  (2)
(OC)
(commercial market)		 Probable  645  3.0  60  398  26     645  3.0  60  398  26 
100% attributable to Exxaro2  Total  3 165  3.0  206  1 413  96     3 221  3.0  209  1 437  98  (2)
Inferred Resources inside LoM plan  510      510      
Thabametsi project    26+   Proved  109.0  3.0    107.0    109.0    107.0   
(OC) (IPP market) Probable  21.0   3.0    20.0     21.0    20.0   
100% attributable to Exxaro2  Total  130.0  3.0    127.0    130.0    127.0   
Inferred Resources inside LoM plan                        

Rounding of figures may cause computational discrepancies.

  • Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt.
  • Inferred Resources inside LoM plan refer to Inferred Resources considered for the LoM plan. These Resources have not been converted to Reserves.
  • Coal Reserves are quoted on a RoM Reserve tonnage basis, which represents tonnages delivered to the plant at an applicable moisture and quality basis.
  • Saleable Reserve tonnage represents the product tonnes of coal available-for-sale on an applicable moisture basis.
  • All changes more than 10% are explained.
  1. Operation refers to operating mine or significant project. Mining method: opencast (OC) or underground (UG).
  2. Figures are reported at 100% irrespective of percentage attributable to Exxaro and refer to 2019 only.
  3. Locality maps are for illustrative purposes only. Detailed maps are provided in the ancillary section.
  4. The + symbol is used in instances where the scheduled LoM plan extends beyond the expiry of the mining right. In each instance, Exxaro has a reasonable expectation that the mining right will be renewed.
  5. Export refers to export thermal coal except at Grootegeluk mine where it refers to semi-soft coking coal suitable for the export and inland markets.
  6. The percentage difference between 2019 reported RoM and 2018 reported RoM, and the percentage difference between 2019 reported total saleable tonnes and 2018 reported total saleable tonnes. Brackets signify a negative.
  7. The decrease is primarily the result of mining as well as the disposal of mining panels related to unfavourable stooping conditions. Stooping areas where the surface rights are not secured are reported as Probable.
  8. The decrease is primarily the result of mining depletion (~6.1Mt) and the disposal of areas due to dolerite occurrence (~1.4Mt).
  9. Estimates are received from Anglo American Coal Proprietary Limited and not audited by Exxaro.
  10. The decrease in RoM tonnes reflects the exclusion of S2 Reserves from DCMW due to the operation migrating to S4L and the incorporation of RODA in the reporting of tonnages. Note that DCME has since migrated to a domestic, thermal Eskom market from last year's export market.
  11. The most significant contributors to the decrease are mining depletion (~2.9Mt), macro-economic assumptions (~11.4Mt) as well as areas excluded at FZON due to unfavourable floor gradients, consideration of geological complexities (dykes) and the disposal of mining blocks due to excessive methane encountered (~4.3Mt).

Table 7: Coal Reserve qualities in 2019

    THERMAL saleable
(Proved and Probable)		 METALLURGICAL saleable
(Proved and Probable)		 COKING saleable
(Proved and Probable)
  Seam/
layer		 Tonnes
(Mt)1		 CV MJ/
kg		 %
VM		 %
Ash		 %
S		 Yield
%		   Tonnes
(Mt)		 CV MJ/
kg		 %
VM		 %
Ash		 %
S		 Yield
%		   Tonnes
(Mt)1		 CV MJ/
kg		 %
VM		 %
Ash		 %
S		 Yield
%
Matla mine 2 seam 52.0 26.0 23.6 26.2 0.8 100  
4 seam 109.0 19.3 21.3 30.5 0.9 100  
Leeuwpan mine TC2 15.2 22.6 19.2 26.9 0.8 65  
BC2 21.2 23.6 23.4 22.8 1.0 79   1.3 28.0 8.4 15.1 0.9 63  
Mafube mine Middlings 12.6 22.0 21.6 25.0 0.6 22  
Export 24.3 26.5 26.2 13.6 0.4 43  
Belfast mine Thermal 7.5 23.1 21.7 24.5 1.2 100  
Export 31.6 26.1 23.9 15.3 0.6 87  
Dorstfontein complex All seams 55.0 24.2 21.9 21.3 0.6 62  
Forzando complex All seams 20.2 24.7 26.6 20.4 1.1 58  
Grootegeluk mine All seams 1 413 21.0 23.8 33.1 1.5 41   95.9 28.9 23.9 13.7 0.6 56   206.3 29.1 35.1 11.7 1.2 13
Thabametsi3 T1 64.0 12.7 20.0 53.9 1.1 98  
project T2 63.0 11.3 19.0 55.7 1.0 98                            

Rounding of figures may cause computational discrepancies.

  • Volatile matter (VM), sulphur (S) and gross calorific value (CV).
  • Saleable Reserve tonnage represents the product tonnes of coal available-for-sale on an applicable moisture and air-dried quality basis.
  1. Saleable product tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt.
  2. Top coal (TC) and bottom coal (BC).
  3. Based on Thabametsi bench configuration as defined in phase 1 of the feasibility study.

Base Metal Resources

The table below details Base Metal Resources (exclusive) as at 31 March 2019.

Table 8: Base Metal Resources (exclusive) reported

      2019  2018    
      Tonnes and grade  Tonnes and grade    
Operation1  Category  Tonnes 
(Mt)		 % 
Zn 		 % 
Pb 		 % 
Cu 		 Ag 
g/t 		 Tonnes 
(Mt)		 % 
Zn 		 % 
Pb 		 % 
Cu 		 Ag 
g/t 		 % 
change 
in 
tonnes 
BMM Deeps mine3  Measured  5.6  2.9  3.2  0.3  37.0  4.0  3.1  3.4  0.3  38.1  41 
Northern Cape (UG) (zinc, lead, copper and silver) Indicated  9.1  2.6  2.2  0.5  27.0     6.6  2.8  2.7  0.5  32.7  37 
26% attributable to Exxaro2  Inferred 
   Total  14.6  2.7  2.6  0.4  31.0  10.6  2.9  3.0  0.4  34.7  38 
BMM Swartberg mine3  Measured 
Northern Cape (UG) (zinc, lead, copper and silver) Indicated  57.3  1.3  3.2  0.3  53.0  35.7  0.8  3.7  0.3  57.0  61 
26% attributable to Exxaro2  Inferred  14  1.2  3.4  0.3  48.0  26.5  2.2  3.0  0.2  50.2  (47)
   Total  71.3  1.3  3.2  0.3  52.0  62.2  1.4  3.4  0.3  54.1  15 
BMM Big Syncline project4  Measured 
Northern Cape (OC) (zinc) Indicated 
26% attributable to Exxaro2  Inferred  151.7  2.5  1.0  13.0  100 
   Total  151.7  2.5  1.0  13.0  100 
Gamsberg North mine5  Measured  35.1  6.5  0.6  43.3  6.6  0.6  (19) 
Northern Cape (OC) (zinc) Indicated  35.8  6.6  0.6  54.6  5.9  0.5  (34)
26% attributable to Exxaro2  Inferred  17.9  6.7  0.5  32.1  5.8  0.5  (44)
   Total  88.8  6.6  0.6        130  6.1  0.5      (32)
Gamsberg East6  Measured 
Northern Cape  Indicated 
(project) (zinc)
26% attributable to Exxaro2 		 Inferred  42.2  9.0  0.6  32.3  9.8  0.6  31 
Total  42.2  9.0  0.6  32.3  9.8  0.6  31 

Rounding of figures may cause computational discrepancies.

  • Percentage zinc (% Zn), percentage copper (% Cu), percentage lead (% Pb), grams per tonne silver (Ag g/t), percentage manganese (% Mn) and percentage sulphur (% S).
  • Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt.
  • Estimates as received from Vedanta Resources at 31 March 2019 and not audited by Exxaro.
  • All changes more than 10% are explained.
  • Tonnages are reported on a dry basis.
  1. Operation refers to the Black Mountain Mining operating mine or significant project. Mining method: opencast (OC ) or underground (UG).
  2. Figures are reported at 100% irrespective of percentage attributable to Exxaro.
  3. The increase is mainly the result of using higher input metal prices, which allowed for a greater increase in economical tonnes as well as updating the geological model with new mapping and drilling information.
  4. Big Syncline is a brownfields exploration project. This is a high-volume, low-grade Zn deposit.
  5. The decrease is mainly the result of the implementation of standardised guidelines on reporting of potential for eventual economic extraction resulting in higher cut-off grades.
  6. The increase is mainly the result of updating the geological model with new borehole information.

Base Metal Reserves

The table below details Base Metal Reserves as at 31 March 2019.

Table 9: Base Metal Reserves reported

         2019  2018    
         Tonnes and grade  Tonnes and grade    
Operation1  Life of mine  (years) Category  RoM 
(Mt)3		 % 
Zn 		 % 
Pb 		 % 
Cu 		 Ag 
g/t 		 RoM 
(Mt)3 		 % 
Zn 		 % 
Pb 		 % 
Cu 		 Ag  g/t  %  
change 
in RoM 
BMM Deeps mine  4  Proved  1.6  2.9  3.6  0.3  37.0  1.3  3.0  4.0  0.3  43.3    
Northern Cape
(UG) (zinc, lead, copper and silver)		 Probable  3.5  2.9  1.4  0.7  21.0     4.3  3.0  1.7  0.7  23.8 
26% attributable to Exxaro2  Total  5.1  2.9  2.1  0.6  26.0     5.6  3.0  2.2  0.6  28.2  (9)
Inferred Resources inside LoM plan                         
BMM Swartberg mine3  4  Proved 
Northern Cape
(UG) (zinc, lead, copper and silver)		 Probable  2.6  0.7  3.4  0.5  28.0     2.3  0.6  3.3  0.5  30.8 
26% attributable to Exxaro2  Total  2.6  0.7  3.4  0.5  28.0     2.3  0.6  3.3  0.5  30.8  12 
Inferred Resources inside LoM plan                         
Gamsberg North mine  13  Proved  50.3  6.8  0.5  44.5  6.8  0.5    
Northern Cape
(OC) (zinc)		 Probable  3.4  5.8  0.5        8.7  6.0  0.5   
26% attributable to Exxaro2  Total  53.7  6.7  0.5        53.2  6.6  0.5      1 
Inferred Resources inside LoM plan              0.4           

Rounding of figures may cause computational discrepancies.

  • Percentage zinc (% Zn), percentage copper (% Cu), percentage lead (% Pb), grams per tonne silver (Ag g/t), percentage manganese (% Mn) and percentage sulphur (% S).
  • Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt.
  • Reserves are quoted on a RoM Reserve tonnage basis, which represents tonnages delivered to the plant at applicable moisture and quality.
  • Inferred Resources in LoM plan refer to Inferred Resources considered for LoM plan.
  • Estimates as received from Vedanta Resources at 31 March 2019 and not audited by Exxaro.
  • All changes more than 10% are explained.
  1. Operation refers to the Black Mountain Mining operating mine or significant project. Mining method: opencast (OC) or underground (UG).
  2. Figures are reported at 100% irrespective of percentage attributable to Exxaro.
  3. The increase is primarily due to design changes of longhole stooping as well as implementation of additional stopes and declines.