Base Metal Resources

The table below details Base Metal Resources as at 31 March 2023.

Table 12: Base Metal Resources (additional to Reserves)

		2023					2022
			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 RoM³
Deeps mine⁴	Measured	4.3	2.7	3.6	0.4	46	4.2	2.4	2.4	0.3	29	1
Northern Cape (UG) (zinc, lead, copper and silver)	Indicated	6.0	2.6	2.2	0.5	33	8.3	2.2	1.6	0.5	25	(27)
26% attributed to Exxaro²	Inferred						0.0
	Total	10.3	2.6	2.8	0.5	35	12.5	2.3	1.8	0.5	26	18
Swartberg mine	Measured						0.0
Northern Cape (OC/UG) (zinc, lead, copper and silver)	Indicated	69.4	0.9	2.0	0.3	40	76.8	0.9	2.0	0.3	38	(10)
26% attributed to Exxaro²	Inferred	35.1	1.0	2.2	0.3	41	36.1	0.9	2.2	0.3	40	(3)
	Total	104.5	0.9	2.1	0.3	40	113.0	0.9	2.1	0.3	39	(7)
Big Syncline project	Measured						0.0
Northern Cape(OC) (zinc)	Indicated	6.1	3.0	1.1		16	6.1	3.0	1.1		16	–
26% attributed to Exxaro²	Inferred	185.6	2.4	1.0		10	185.6	2.4	1.0		12	–
	Total	191.7	2.5	1.0		12	191.7	2.5	1.0		12	–
Gamsberg North mine	Measured	7.7	7.7	0.5			7.5	7.7	0.5			3
Northern Cape(OC/UG) (zinc)	Indicated	36.7	6.5	0.5			35.5	6.3	0.5			3
26% attributed to Exxaro²	Inferred	20.3	6.4	0.5			22.7	6.1	0.5			(10)
	Total	64.7	6.6	0.5			65.6	6.4	0.5			(1)
Gamsberg East	Measured						0.0
Northern Cape(project) (zinc)	Indicated						0.0
26% attributed to Exxaro²	Inferred	65.0	7.9	0.5		5	65.1	7.9	0.5		5	–
	Total	65.0	7.9	0.5		5	65.1	7.9	0.5		5	–
Gamsberg South	Measured						0.0
Northern Cape(project) (zinc)	Indicated						0.0
26% attributed to Exxaro²	Inferred	34.2	6.2	0.5		7	36.0	6.1	0.5		7	(5)
	Total	34.2	6.2	0.5		7	36.0	6.1	0.5		7	(5)
Gamsberg Kloof⁵	Measured						0.0
Northern Cape(project) (zinc)	Indicated	15.8	8.4	0.6		7	0.0					100
26% attributed to Exxaro²	Inferred	6.8	9.2	0.5		7	18.8	8.6	0.6		7	(64)
	Total	22.7	8.7	0.6		7	18.8	8.6	0.6		7	21

For operations over which Exxaro has no management control, please refer to the relevant company's website for supplementary information: www.vedantaresources.com/investor-relations/

Rounding of figures may cause computational discrepancies.
Percentage zinc (% Zn), percentage copper (% Cu), percentage lead (% Pb), grams per tonne of 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 are as received from Vedanta Resources at 31 March 2023 and are not audited by Exxaro.
All changes more than 10% are explained.
Tonnages are reported on a dry basis

¹	Operation refers to the BMM 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 percentage difference between 2023 reported MTIS and 2022 reported MTIS. Brackets signify a decrease.
⁴	Deeps mine decrease is mainly the result of poorer revenue factors used in the update of models.
⁵	Gamsberg Kloof increase is the result of new drilling information that led to an update of the model.