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Transcript of 8.25.04 Final including comments and cost split for .../media/Files/A/Anglo-American... · Ł First...
Potgietersrust Platinums Limited
Investment Analysts / Fund Managers
Visit toPotgietersrustPotgietersrust Platinums LimitedPlatinums Limited
24 August 200424 August 2004
Potgietersrust Platinums Limited
� Location & Infrastructure Layout� Safety & Environment� Geology� Resources and Reserves� Mining and development� Production � Working Cost� Capex� HR
AgendaAgenda
Potgietersrust Platinums Limited
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AMANDELBULT
UNION
BAFOKENG/RASIMONESTYLDRIFT JV
RUSTENBURG
POTGIETERSRUSTPLATINUMS LIMITED
TWICKENHAM
DER BROCHEN
LEBOWA PLATINUM MINES
ð
LIMPOPO
MPUMALANGA
GAUTENG
NORTH-WEST
RUSTENBURGPRETORIA
WITBANK
MOKOPANE (POTGIETERSRUS)
POLOKWANE (PIETERSBURG)
BELA BELA (WARMBATHS)
JOHANNESBURG
NORTHAM
PANDORA JV
BOOYSENDAL JV
MODIKWA
BURGERSFORT
LYDENBURG
PASCHASKRAAL JV
LegendBushveld Complex
Anglo Platinum
Anglo Platinum - Joint Venture
Impala Platinum Mines
Lonmin PLC
Northam Platinum Limited
Southern Era
Merensky
UG2
Platreef
UNKI PROJECT
Botswana
Zimbabwe
MozambiqueNamibia
±
Republicof
South AfricaPolokwane Smelter
0 2010
Kilometres
Protection Services
Mining
Main Stores
Main Offices
Concentrator
Crushed ore stockpile
Explosive Magazine
Main Water Reservoir
Main Crusher
PPRust - Infrastructure
SandslootConcentrator
PPRust North Pit
Zwartfontein South Pit
Sandsloot Pit
Tweefontein North Pit
Tweefontein Hill Pit
Ore Flow Diagram
Potgietersrust Platinums Limited
PPRust�sPPRust�s -- Lost Time Injuries Lost Time Injuries
21
149 8
0
5
10
15
20
25
2000 2001 2002 2003
number of injuries
Potgietersrust Platinums Limited
PPRust�sPPRust�s �� fatal accident fatal accident
0
1
2000 2001 2002 2003
number of fatals
Potgietersrust Platinums Limited
2004 Safety Challenges2004 Safety Challenges
� Integration ofIntegration of Behavior Based Safety into lineBehavior Based Safety into line--function;function;
�� Continue with �Continue with �UnembezaUnembeza and OTTO� campaign;and OTTO� campaign;�� Adherence to Platinum Rules;Adherence to Platinum Rules;�� Electronic Business Management System;Electronic Business Management System;�� EdutouchEdutouch training;training;�� OSHAS 18000 Accreditation;OSHAS 18000 Accreditation;�� Occupational Hygiene.Occupational Hygiene.
Potgietersrust Platinums Limited
Environmental Challenges for 2004Environmental Challenges for 2004
�� Employee training on environmental issues;Employee training on environmental issues;�� Maintain ISO 14001 certification;Maintain ISO 14001 certification;�� Improve on waste management (general, Improve on waste management (general, oil oil
spillages, contaminated soil);spillages, contaminated soil);�� First phase of waste rock dump First phase of waste rock dump
rehabilitation; rehabilitation;
Potgietersrust Platinums Limited
OVERYSEL 815 LR
ZWARTFONTEIN 818 LR
VAALKOP 819 LR
SANDSLOOT 236 KR
KNAPDAAR 234 KR
RIETFONTEIN 240 KR
TWEEFONTEIN 238 KR
Sandsloot Pit
0 2.5Kilometers
´
Potgietersrust Platinums LimitedLOOKING NORTH
LOOKING SOUTH
Exploration Drilling Grid for Zwartfontein South50m x 50m
Potgietersrust Platinums Limited
CoreCore DrillingDrilling StatisticsStatistics: 2003/4: 2003/4
Drill statusNo. of assays
Meters drilled
No. of holes drilled
Area
47,443
40,332
5,926
completed77,861232PPRust North
Completed (Apr 04)78,697172Zwartfontein
South
completed16,03618Sandsloot
Potgietersrust Platinums Limited
Resource / Reserve StatementResource / Reserve StatementSandslootSandsloot (31/12/2003)(31/12/2003)
489.13.1913,570.0Total Reserve
3,113.02.65103,710.0Total Resource
353.63.259,610.0Probable Reserve135.53.033,950.0Proven Reserve
2,150.92.9664,210.0Inferred Resource727.82.3327,600.0Indicated Resource
234.31.7411,900.0Measured Resource
Pt Oz(X 1000)
4E (g/t)
Tonnes(X 1000)
Category
Note: Reserve quoted in addition to Resource statement
Potgietersrust Platinums Limited
Resource / Reserve StatementResource / Reserve StatementZwartfonteinZwartfontein South South (31/12/2003)(31/12/2003)
1,250.73.3233,290.0Total Reserve
2,083.32.0689,360.0Total Resource
1,250.73.3233,290.0Probable Reserve0--Proven Reserve
2,083.32.0689,360.0Inferred Resource0--Indicated Resource
0--Measured Resource
Pt Oz(X 1000)
4E (g/t)
Tonnes(X 1000)
Category
Note: Reserve quoted in addition to Resource statement
Potgietersrust Platinums Limited
Resource / Reserve StatementResource / Reserve StatementTotalTotal PPRustPPRust (31/12/2003)(31/12/2003)
9,484.62.66315,230.0Total Reserve
12,531.82.37504,360.0Total Resource
9,349.12.65311,270.0Probable Reserve135.53.033,950.0Proven Reserve
4,234.22.44153,570.0Inferred Resource9,063.22.36338,890.0Indicated Resource
234.31.7411,900.0Measured Resource
Pt Oz(X 1000)
4E (g/t)
Tonnes(X 1000)
Category
Note: Reserve quoted in addition to Resource statement
Potgietersrust Platinums Limited
PPRust PrillPPRust Prill SplitSplit
0.0590.064Au factor
0.1710.193%Ni0.0830.098% Cu
0.0330.033Rh factor0.4690.459Pd factor0.4400.445Pt factor
Zwartfontein SouthSandsloot
Potgietersrust Platinums Limited
PPRust�sPPRust�s SandslootSandsloot pitpit
��32 500 000 t in 200432 500 000 t in 2004��90 000 t per day90 000 t per day��bench height 15 mbench height 15 m��current depth 210, current depth 210, (320)m(320)m��current length 1700 mcurrent length 1700 m��current width 600 mcurrent width 600 m��ramp gradient 10 %ramp gradient 10 %��ramp width 35 mramp width 35 m��strip ratio 7.9 : 1strip ratio 7.9 : 1
Potgietersrust Platinums Limited
PPRust�sPPRust�s ZwartfonteinZwartfontein South pitSouth pit
��25 000 000 t in 200425 000 000 t in 2004��68 500 t per day68 500 t per day��bench height 10 mbench height 10 m��current depth 60, (245)mcurrent depth 60, (245)m��current length 650, current length 650, (1630)m(1630)m��current width 300, (690)mcurrent width 300, (690)m��ramp gradient 10 %ramp gradient 10 %��ramp width 35 mramp width 35 m��strip ratio 11 : 1strip ratio 11 : 1
Potgietersrust Platinums Limited
PPRust�sPPRust�s Truck and Shovel operationTruck and Shovel operation
Potgietersrust Platinums Limited
PPRust�sPPRust�s Truck and Shovel operationTruck and Shovel operation
Potgietersrust Platinums Limited
MINE DESIGN MINE DESIGN �� ZwartfonteinZwartfontein South CUT 5South CUT 5
Potgietersrust Platinums Limited
PPRust�sPPRust�s tons mined tons mined
30.18 29.6139.67
48.44
0
10
20
30
40
50
2000 2001 2002 2003
million tons mined (ex pits)
�� Steady state level around 50 million tons per annum Steady state level around 50 million tons per annum
Potgietersrust Platinums Limited
PPRust�sPPRust�s milling performancemilling performance
4,177 4,270 4,375 4,465
0
1,000
2,000
3,000
4,000
5,000
2000 2001 2002 2003
k tons milled
�� Milling capacity limit of 385 000 tons per month Milling capacity limit of 385 000 tons per month
Potgietersrust Platinums Limited
PPRust�sPPRust�s Concentrator RecoveriesConcentrator Recoveries
81.94 81.96
74.57
79.09
70
72
74
76
78
80
82
2000 2001 2002 2003
PGM Recoveries
�� Recovery in 2004 steady around 80% Recovery in 2004 steady around 80%
Potgietersrust Platinums Limited
PPRust�sPPRust�s GradeGrade
4.3 4.43.5
4.0
0.00.51.01.52.02.53.03.54.04.5
2000 2001 2002 2003
built-up head grade (g/t PGM)
�� Grade steady around 4 grams per ton Grade steady around 4 grams per ton
Potgietersrust Platinums Limited
PPRust�sPPRust�s PtPt--ProductionProduction
202,600 211,400
164,700191,800
0
50,000
100,000
150,000
200,000
250,000
2000 2001 2002 2003
equivalent refined Pt production
Potgietersrust Platinums Limited
Cash on-mine costs
126.0139.0
147.0
183.0
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
180.0
200.0
2000 2001 2002 2003
R/to
n mi
lled
0.0
10,000.0
20,000.0
30,000.0
40,000.0
50,000.0
60,000.0
Tons
mine
d
R/ton milled tons mined
Potgietersrust Platinums Limited
Cash on-mine costs
2,605 2,815
3,903 4,249
0.0500.0
1,000.01,500.02,000.02,500.03,000.03,500.04,000.04,500.0
2000 2001 2002 2003
R / Pt oz equiv. refined
�� Cost increase in 2004 expected at CPI target (5,5%) Cost increase in 2004 expected at CPI target (5,5%)
Potgietersrust Platinums Limited
17%
42%6%
14%
6%
15%
LabourStoresUtilitiesSundriesContractorsAmort
On Mine cost split
Potgietersrust Platinums Limited
Tons mined / Pt oz
30,183.0 29,631.0
39,672.0
48,444.0
0.0
10,000.0
20,000.0
30,000.0
40,000.0
50,000.0
60,000.0
2000 2001 2002 2003
tons
mine
d ('0
00)
0
50,000
100,000
150,000
200,000
250,000
Pt oz
refin
ed
tons mined Pt ounces
Potgietersrust Platinums Limited
Capital Expenditure
109.4161.9
231.9
338.6
0.0
50.0
100.0
150.0
200.0
250.0
300.0
350.0
2000 2001 2002 2003
Capex (R mill)
�� Ongoing Ongoing capexcapex level of R250 level of R250 -- R300 m per annumR300 m per annum�� Planned spend of R400m (unapproved) in 2005 on relocation and wPlanned spend of R400m (unapproved) in 2005 on relocation and water ater
Potgietersrust Platinums Limited
Human Resources
� Attraction and Retention� Desirability of Area� Schooling
� Employment Equity� HIV/AIDS
� Lower Prevalence rate� SED
� Mining Charter� BEE� Village Relocation
Potgietersrust Platinums Limited
Key Business IssuesKey Business Issues� Safety, Health and Environment� Cost Optimisation
� Improving Unit Costs� Improving Concentrator Performance� Mining Flexibility
Contribution to the Group
Dr. Hans Dr. Hans MerenskyMerensky (1927):(1927):� it is evident that the Potgietersrus Platinums Limited are indeed in an excellent
position, in that a large tonnage can be developed in a short time and without much capital expenditure; and that the mining can be done for a long time cheaply in open
quarries; the milling and producing stages can be reached in a short time, and � I feel convinced that the Potgietersrus Platinums Limited will
develop into a highly payable concern.