Kumba Iron Ore Mineral Resources and Ore Reserves

Table 14: Kumba Iron Ore Mineral Resources (in addition to Ore Reserves)


				2022			2021
Operation/project	Ore type	% attributable to Exxaro	Resource category	Tonnage (Mt)	Average % Fe	% Fe cut-off**	Tonnage (Mt)	Average% Fe	% Fe cut-off**
Mining operations						50			50
Kolomela¹
In situ Mineral Resources (in addition to Ore Reserves)			Measured (outside LoAP)	52.1	65.1		30.5	64.8
			Indicated (outside LoAP)	62.1	63.1		59.8	63.1
			Measured and Indicated (outside LoAP)	114.2	64.0		90.4	63.7
			Inferred (considered in LoAP)	1.2	64.7		6.6	64.8
			Inferred (outside LoAP)	17.4	62.5		23.8	63.1
			Total Inferred	18.6	62.6		30.4	63.5
			Sub-total	132.8	63.8		120.7	63.6
Long-term stockpiled Mineral Resources (in addition to Ore Reserves)	Haematite	20.37	Measured (outside LoAP)	0.0	0.0		0.0	0.0
			Indicated (outside LoAP)	0.0	0.0		8.7	55.2
			Measured and Indicated (outside LoAP)	0.0	0.0		8.7	55.2
			Inferred (considered in LoAP)	0.0	0.0		0.0	0.0
			Inferred (outside LoAP)	0.0	0.0		0.0	0.0
			Total Inferred	0.0	0.0		0.0	0.0
			Sub-total	0.0	0.0		8.7	55.2
Total Mineral Resources (in addition to Ore Reserves)			Measured (outside LoAP)	52.1	65.1		30.5	64.8
			Indicated (outside LoAP)	62.1	63.1		68.5	62.1
			Measured and Indicated (outside LoAP)	114.2	64.0		99.1	62.9
			Inferred (considered in LoAP)	1.2	64.7		6.6	64.8
			Inferred (outside LoAP)	17.4	62.5		23.8	63.1
			Total Inferred	18.6	62.6		30.4	63.5
			Sub-total	132.8	63.0		129.4	63.0
Sishen²						40			40
In situ Mineral Resources (in addition to Ore Reserves)			Measured (outside LoAP)	175.3	59.4		176.7	59.4
			Indicated (outside LoAP)	222.2	55.4		222.4	55.4
			Measured and Indicated (outside LoAP)	397.4	57.2		399.2	57.2
			Inferred (considered in LoAP)	11.7	50.6		12.6	50.8
			Inferred (outside LoAP)	24.4	56.7		24.6	56.7
			Total Inferred	36.1	54.7		37.2	54.7
			Sub-total	433.5	57.0		436.3	57.0
Long-term stockpiled Mineral Resources (in addition to Ore Reserves)	Haematite	20.37	Measured (outside LoAP)	0.0	0.0		0.0	0.0
			Indicated (outside LoAP)	0.0	0.0		0.0	0.0
			Measured and Indicated (outside LoAP)	0.0	0.0		0.0	0.0
			Inferred (considered in LoAP)	0.0	0.0		0.0	0.0
			Inferred (outside LoAP)	0.0	0.0		0.0	0.0
			Total Inferred	0.0	0.0		0.0	0.0
			Sub-total	0.0	0.0		0.0	0.0
Total Mineral Resources (in addition to Ore Reserves)			Measured (outside LoAP)	175.3	59.4		176.7	59.4
			Indicated (outside LoAP)	222.2	55.4		222.4	55.4
			Measured and Indicated (outside LoAP)	397.4	57.2		399.2	57.2
			Inferred (considered in LoAP)	11.7	50.6		12.6	50.8
			Inferred (outside LoAP)	24.4	56.7		24.6	56.7
			Total Inferred	36.1	54.7		37.2	54.7
			Sub-total	433.5	57.0		436.3	57.0
Company			Measured (outside LoAP)	227.4	60.7		207.3	60.2
Kumba Iron Ore			Indicated (outside LoAP)	284.2	57.1		291.0	57.0
Grand total Mineral Resources (in addition to Ore Reserves)	Haematite	20.37	Measured and Indicated (outside LoAP)	511.6	58.7		498.2	58.3
			Inferred (considered in LoAP)	12.9	51.9		19.2	55.6
			Inferred (outside LoAP)	41.8	59.1		48.3	59.8
			Total Inferred	54.7	57.4		67.5	58.6
			Sub-total	566.3	58.6		565.8	58.3

For operations over which Exxaro has no management control, please refer to the relevant company's website for supplementary information: www.angloamericankumba.com/investors Mineral Resources are reported as additional to Ore Reserves.
•	The tonnages are quoted in dry metric tonnes and million tonnes is abbreviated as Mt.
•	Rounding of figures may cause computational discrepancies.
•	Mineral Resource figures are reported at 100% irrespective of percentage attributable Exxaro ownership.
•	The term Inferred Mineral Resource (outside life of asset plan (LoAP)) refers to that portion of the Inferred Mineral Resources not utilised in the LoAP.
•	The term Inferred Mineral Resource (considered for LoAP) refers to that portion of the Inferred Mineral Resources utilised in the LoAP; reported without having any modifying factors applied - therefore the term "considered for LoAP" instead of "inside LoAP".
•	While it would be reasonable to expect that the majority of Inferred Mineral Resources would upgrade in confidence to Indicated Mineral Resources with continued exploration,due to the uncertainty of Inferred Mineral Resources, it should not be assumed that such upgrading will always occur on a one-to-one basis.
**	The cut-off grade quoted for each of the Kumba sites is a fixed in situ Fe percentage.
¹	Kolomela mine: Mineral Resources are reported above a cut-off of 50.0% Fe in situ. The increase is primarily due to reallocation of Ore Reserves at the Kapstevel South pit.This was partially offset by the conversion of long-term stockpiled medium-grade Mineral Resources to Ore Reserves.
²	Sishen mine: Mineral Resources are reported above a cut-off of 40.0% Fe in situ.

						2022
Operation/project	Operation status	Mining method	Ore type	% attributable to Exxaro	Reserve category	Tonnage(Mt)	Average Grade(% Fe)	*Grade cut-off (%Fe)**	Reserve life(years)**	Metal-lurgical yield (%)	Saleable Product tonnage (Mt)	Saleable Product Grade (%Fe)Average
Mining operations	Steady-state	Open pit	Haematite	20.37				50	12	94.3
Kolomela¹
Ore Reserves from pit					Proved	97.9	63.8				92.3	64.8
					Probable	21.8	63.5				20.5	64.3
					Sub-total	119.6	63.7				112.9	64.7
Ore Reserves from RoM buffer stockpiles					Proved	0.0	0.0				0.0	0.0
					Probable	21.4	61.1				20.2	62.1
					Sub-total	21.4	61.1				20.2	62.1
Total Ore Reserves					Proved	97.9	63.8				92.3	64.8
					Probable	43.2	62.3				40.7	63.2
					Sub-total	141.1	63.3				133.1	64.3
Sishen²	Steady-state	Open pit	Haematite	20.37				40	17	64.5
Ore Reserves from pit					Proved	364.9	57.6				255.5	64.7
					Probable	192.8	47.7				107.2	59.8
					Sub-total	557.7	54.2				362.8	63.3
Ore Reserves from RoM buffer stockpiles					Proved
					Probable	60.7	52.3				36.3	63.0
					Sub-total	60.7	52.3				36.3	63.0
Total Ore Reserves					Proved	364.9	57.6				255.5	64.7
					Probable	253.5	48.8				143.6	60.6
					Sub-total	618.4	54.0				399.1	63.2
Company				20.37						70.1
Kumba Iron Ore
Grand total Ore Reserves					Proved	462.8	58.9				347.9	64.7
					Probable	296.7	50.8				184.3	61.2
					Sub-total	759.4	55.7				532.2	63.5

						2021
Operation/project	Operation status	Mining method	Ore type	% attributable to Exxaro	Reserve category	Tonnage(Mt)	Average Grade(% Fe)	*Gradecut-off (%Fe)**	Reserve life(years)**	Metal-lurgical yield(%)	Saleable Product tonnage(Mt)	Saleable Product Grade (%Fe)Average
Mining operations	Steady-state	Open pit	Haematite	20.37				50	13	96.0
Kolomela¹
Ore Reserves from pit					Proved	102.0	63.8				97.9	64.8
					Probable	33.0	63.3				31.7	64.5
					Sub-total	135.0	63.7				129.6	64.7
Ore Reserves from RoM buffer stockpiles					Proved	0.0	0.0				0	0
					Probable	11.5	63.3				11.1	64.2
					Sub-total	11.5	63.3				11.1	64.2
Total Ore Reserves					Proved	102.0	63.8				97.9	64.8
					Probable	44.6	63.3				42.8	64.4
					Sub-total	146.5	63.6				140.7	64.7
Sishen²	Steady-state	Open pit	Haematite	20.37				40	18	65.0
Ore Reserves from pit					Proved	384.9	57.6				269.4	64.7
					Probable	211.3	48.9				120.4	61.1
					Sub-total	596.2	54.5				389.8	63.6
Ore Reserves from RoM buffer stockpiles					Proved	0.0	0.0				0	0
					Probable	57.2	48.3				35.1	59
					Sub-total	57.2	48.3				35.1	59
Total Ore Reserves					Proved	384.9	57.6				269.4	64.7
					Probable	268.5	48.8				155.5	60.6
					Sub-total	653.4	54.0				424.9	63.2
Company				20.37						70.7
Kumba Iron Ore
Grand total Ore Reserves					Proved	486.9	58.9				367.4	64.7
					Probable	313.0	50.9				198.2	61.4
					Sub-total	799.9	55.8				565.6	63.5


For operations over which Exxaro has no management control, please refer to the relevant company's website for supplementary information: www.angloamericankumba.com/investors
•	The tonnages are quoted in dry metric tonnes and million tonnes is abbreviated as Mt.
•	Rounding of figures may cause computational discrepancies.
•	Ore Reserve figures are reported at 100% irrespective of percentage attributable ownership to Exxaro.
•	Saleable product figures are reported at 100% irrespective of percentage attributable ownership to Exxaro.
•	Yield is calculated as: saleable product tonnes/Ore Reserves tonnes x 100.
•	The cut-off grade assigned to Ore Reserves is variable and is dependent on the beneficiability and/or blending capacity of the modified ore scheduled as RoM,which is iteratively determined during LoAP scheduling to achieve a scheduling grade target that is set to meet the Client product specifications. The % Fe cut-off illustrated is therefore the lowest of a range of variable cut-offs for the various mining areas.
**	Reserve life represents the period in years in the approved LoAP for scheduled extraction of Proved and Probable Reserves. The reserve life is limited to the period during which the Ore Reserves can be economically exploited. Where the scheduled Ore Reserves fall below 25% of the average annual production rate, the period beyond this is excluded from the Reserve life. The reserve life also does not exceed the security of tenure expiry date.
¹	Kolomela mine: Ore Reserves are reported above a processing plant feed derived cut-off of 50.0 % Fe inclusive of dilution. Plant recoveries for the Saleable Product range from 92.9%-95.8%. Ore Reserves decreased primarily due to production and revised pit layout for Kapstevel South, which resulted in reallocation to Mineral Resources. This was partially offset by the conversion of medium-grade Mineral Resources to Ore Reserves and geological model updates.
²	Sishen mine: Ore Reserves are reported above a processing plant feed derived cut-off of 40.0 % Fe inclusive of dilution. Plant recoveries for the Saleable Product range from 30.4%-74.0%. Ore Reserves decreased due to production.

Kumba Iron Ore Mineral Resources and Ore Reserves

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