Impala Platinum Holdings Limited · JSE:IMP
Impala Platinum — Investor Presentation (November 2003)
16 slides from Impala Platinum's investor presentation, November 2003
Slide 1: A strategic investment in Zimbabwe
A strategic investment in Zimbabwe November/December 2003 Agenda ! The plan to grow resource ounces ! Implats in Zimbabwe ! Mimosa ! Zimplats ! Exploration 2 1
Slide 2: Now a multi-resource company / Three-pronged approach
Now a multi-resource company Resources as at 30 June From this in 1999: To this in 2003: 2% 28% 36% 39% 72% 5% 18% Barplats Impala Impala Marula Barplats Zimplats Mimosa 69 Moz Pt 234 Moz Pt 3 Three-pronged approach ! Mine-to-market Impala Marula Mimosa Zimplats ! Impala Refining Services IRS ! Stra
Slide 3: Implats in Zimbabwe / Management structure – Operations
Implats in Zimbabwe Musengezi Complex HARARE Zimplats Hartley Complex N Selukwe Complex BULAWAYO Wedza Complex 0 100 200 Kilometres Mimosa 5 Management structure – Operations Keith Rumble CEO, Implats Les Paton Executive director: Off-lease operations Paul Visser Operations executive – Rustenburg Ru
Slide 4: History – Investment in Zimplats and Mimosa
History – Investment in Zimplats Makwiro 30% R247 million 2001 Zimplats 15% R66 million (Delta) 2001 21% R205 million (Delta) August 2002 15% R142 million (Absa) July 2003 31% R625 million (minorities) Sept 2003 Total 82% R1 038 million Grand total R1 285 million* * Makwiro and Zimplats Total resour
Slide 5: Working in Zimbabwe / Mimosa snapshot
Working in Zimbabwe ! Working relationship with Government ! Currency ! Costs and inflation ! Able to import fuel and capital goods ! Power - paid for in dollars ! Dividend flow from Zimbabwe investments continues ! Indigenisation programme: ! Zimplats – heads of agreement signed with Needgate; fund
Slide 6: Mimosa - Ore reserves and mineral resources
Mimosa - South Hill Deposit MSZ Mineral Resources 11 Mimosa - Ore reserves and mineral resources at 30 June 2003 Ore reserves Orebody Category Tonnage Grade 3 PGE & Au Pt oz (millions) (g/t) (million) MSZ Proved 1.1 3.79 0.1 Probable 7.5 3.79 0.5 Total 8.6 3.79 0.6 Mineral resources Orebody Category
Slide 7: Mimosa - grade profile and annual tonnages hoisted
Mimosa - grade profile Metal Distribution across the MSZ 6 0.45 0.4 5 % BASE METALS 0.35 4 0.3 PGM PPM 0.25 3 0.2 2 0.15 0.1 1 0.05 0 0 315 285 255 225 195 165 135 105 75 45 15 -30 -60 -90 -120 -150 -180 -210 -240 -270 -300 -330 -360 HEIGHT From Pt Peak (cm) Pt Pd Ni Cu 13 Mimosa - Annual tonnages h
Slide 8: Mimosa - breakdown of costs / Cost comparison by process
Mimosa - breakdown of costs In comparison to Impala Platinum: Impala Mimosa 56% 15% Transport Spares Chemicals Drilling LHD Spares Explosives Labour Power Power Fuel Other 15 Cost comparison – by process Impala Mimosa 3% 11% 13% 6% 6% 10% 56% 27% 69% Mining Concentrating Smelting Other Transport Min
Slide 9: Mimosa – the way forward / Zimplats snapshot
Mimosa – the way forward ! Potential for expansion ! Possible time frame: ! Pre-feasibility study underway – to be completed March 2004 ! Full feasibility to begin in June 2004 - to be completed by December 2004 ! Board/government approvals by early 2005 ! Plant construction by July 2006 ! Ramp-up t
Slide 10: Zimplats – MSZ reserves and resources
Zimplats – MSZ reserves and resources 19 Zimplats – Ore reserves as at 30 June 2003 Ore reserves Orebody Category Tonnage Grade 3 PGE & Pt oz (millions) Au (g/t) (million) MSZ Proved 47.7 3.23 2.4 Probable 296.0 3.35 15.6 Total 343.7 3.33 18.0 20 10
Slide 11: Zimplats – Mineral resources / breakdown of costs
Zimplats – Mineral resources as at 30 June 2003 Mineral resources Orebody Category Tonnage Grade 3 PGE & Pt oz (millions) Au (g/t) (million) MSZ Measured 105.3 4.18 6.9 Indicated 860.6 4.14 55.7 Inferred 1 528.2 4.11 98.6 Total 2 494.1 4.12 161.2 21 Zimplats – breakdown of costs In comparison to tha
Slide 12: Cost comparison / Zimplats – the route for the future
Cost comparison Impala Zimplats 3% 12% 13% 5% 6% 8% 10% 59% 69% 16% Mining Concentrating Smelting Other Mining Transport Concentrating Smelting Other Transport Mining Concentrating Smelting Transport Other 23 Zimplats – the route for the future ! Review of expansion plans by senior Implats team ! In
Slide 13: Zimplats – Option 1
Zimplats – Option 1 ! Mining: Existing underground trial mine – 1Mt Existing opencast – 2Mt ! Processing - 1.5Mt concentrator at Ngezi ! Capex of US$82m, comprising: ! Mining US$20 ! Concentrator and tailings dam US$42m ! Housing US$5m ! Infrastructure US$15m 25 Zimplats – Option 1 This option has t
Slide 14: Zimplats – the plan going forward / Timing of expansions
Zimplats – the plan going forward Production in Pt ounces: US$xxxm Phase 3 onwards US$132m 100,000oz Phase 2: 325 000oz US$82m 90,000oz Phase 1: 225 000oz Additional 45,000oz smelting 135 000oz capacity Possible re- opening of 82 000oz BMR Current July 2005 July 2007 July 2009 onwards 27 Zimplats –
Slide 15: Exploration in Zimbabwe / Importance of Zimbabwe
Exploration in Zimbabwe ! Exploration geologist appointed in Zimbabwe ! Review of all geological data underway ! Analyse data ! Prioritise areas according to mechanised mining methods (widths and dips) ! Highlight areas requiring additional exploration ! Aim is to: ! Protect rights ! Assist decision
Slide 16: A strategic investment in Zimbabwe
A strategic investment in Zimbabwe November/December 2003 16
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