Notes on our operations and projects

Grootegeluk

Positive outcomes of an external estimation audit, illustrating the credibility of the processes underpinning our estimates
Production of coking coal increased but year-on-year RoM decreased slightly

Thabametsi

The resource is located immediately adjacent to our Grootegeluk operation, and we are considering scenarios that will unlock maximum value for the integrated Waterberg business

Belfast

Market to resource flexibility was achieved through establishing a domestic client base
Challenges experienced early in the reporting year were addressed, resulting in exceptional production performance in Q3/4
Grade control is a key enabler for mining flexibility between the various pits at the operation

Leeuwpan

An optimisation study is in progress to attain a steady and consistent RoM supply as the OL pit nears depletion. The focus will be primarily on the exploitation of the remaining OI pit

Matla

The implementation of the three mine expansion projects, securing an estimated ~85% of Matla Coal Reserves, progressed well
Coal Resources identified through innovative MRM principals, previously situated outside the LoM, provided additional pit room and the necessary flexibility for the mining teams to alleviate implementation delays

Mafube

A 50% owned, highly successful joint venture mine with our partner Thungela Resources
Focused exploration drilling during the year to increase geological confidence and progress on environmental studies enhanced future planning at the operation

Moranbah

A 50%-owned, hard-coking coal joint venture development with Anglo American Steelmaking Coal in the Bowen Basin, Queensland, Australia
The execution of a 33km² 3D seismic survey is currently in progress. On completion, most of the Resource will be covered by 3D seismic surveys and will, in conjunction with focused drilling, contribute materially to the de-risking of the Coal Resource

Our coal estimates for the reporting year (Resource (Mt)) (Reserve (Mt))

Total attributable Coal Resources

Total attributable Coal Reserves

Our total attributable Coal Resources decreased by ~1%, primarily due to mining. On-mine drilling increasing the level of confidence resulted in material movements between the Coal Resource categories, as noticeably observed at our Mafube mine.

Our total attributable Coal Reserves decreased by ~3%, primarily due to mining depletion and revised LoM plans. A material decrease in Coal Reserves only noted at our Leeuwpan mine (~14%) is due to new drill hole information received and layout losses that occurred during mine plan execution.

Other than normal mining depletion, no material changes to the total attributable Coal Resource and Coal Reserve estimates are further reported for any of our operations.

Notes:
a.	Resource estimations are based on the latest available geological models, which incorporate new validated geological information and, if applicable, revised seam, Resource definitions and Resource classifications. For the 2023 reporting cycle, reported estimates are derived from actual mining up to the end of October, incorporating the planned estimates for November and December.
b.	Resource and Reserve estimates in our statements are quoted in full, irrespective of Exxaro's shareholding. Our attributable tonnage is clearly presented in the image above and, when used in our report, always clearly defined.
c.	Rounding off of figures quoted may result in minor computational discrepancies, although it is not deemed significant.