Zimplats Ngezi Operations26 October 2007

2

Brief History of Zimplats

• 1999 Hartley Platinum Mine at Selous closed and placed under care and maintenance.

• By 1999 Zimplats had acquired all the claims for the entire Hartley Complex within the Great Dyke.

• 2001 Ngezi Open Pit mining commenced, with ore delivery in December. Selous (SMC) plant recommissioned. Ngezi highway built.

• 2003 Development of first underground trial mine.• 2006 Underground mine commissioned.• 2006 36% of claims released to Government through an

agreement• 2006 Expansion project approved

3

SAFETY

4

SHE Performance

9

0

0.92

FY 06

3

0

0.28

FY 07

2

0

0.19

6

1

0.60

3

0

0.46

9

2

1.55

LTIs

Fatals

LTIFR

BP 08FY05FY04FY03

Fatality free shifts 3.3 Million (as at 21 October 07)

LTI free days: 6 Days

5

SHE Highlights

• Received the following National Social Authority (NSSA) safety awards:

• Top National• Top Sectorial• Top Provincial

• Underground operations adjudged to be best Implats group safety performers.

• Retained ISO 14 001 certification.

• SMC won the 2006/07 National Environmental competition for the 4th time in a row.

• The Ngezi opencast closure plan finalized and approved by the Environmental Management Agency. Implementation in progress.

6

ZIMPLATS RESOURCES AND RESERVES

7

Zimbabwe Satellite

Great Dyke -

Visible from Space

8

Platinum in Zimbabwe

MusengeziComplex

Selukwe Complex

Wedza Complex

Unki (Anglo)

Mimosa (Implats & Aquarius)(Implats & Aquarius)

Hartley Platinum MineSelous Metallurgical Complex

(Zimplats)

Ngezi Mining Operations(Zimplats)(Zimplats)

N

0 200

Kilometres

HartleyComplex

Harare

Bulawayo

9

Zimplats Resources and Reserves Statement

6.120.026.1

3.09.9

12.9

57.0184.3241.3

Ore Reserves (O/Cast and P1- P7 <9º)ProvedProbableTotal

13.668.0

100.8182.4

6.733.748.488.7

115573875

1 563

Mineral Resources & ReservesMeasuredIndicatedInferredTotal

4EMoz

PtMoz

Mt

10

N

5km 0 5km

Distribution of Resources

Hartley22 M oz 4E

Lease Extension84 M oz 4E

P3 – 10 Steep25 M oz 4E

P8-10 Flat11 M oz 4E

P1-7 Flat29 M oz 4E

Open Pit2 M oz 4E

SMC

Ngezi

11

MINING OPERATIONS

12

Ngezi Mining Operations

New Plant Site

Eagle’s Nest

Village

Turf Housing

Portal 4

Portal 2

Open Cast

Portal 1

13

Current Production - Opencast

• Opencast at 100,000 tpm at 3.25 g/t 4E• Managed by Zimplats• Contract run by MCC, subcontracting KW Blasting for drilling• AEL contracted to carry out charging and blasting• Strip mining at 13:1 strip ratio and 3.0m reef width• Ongoing rehabilitation• Scheduled to close April 2008

14

Underground Mining - Portal 2

• Portal 2 Underground at 84,000 tpm at 3.57 g/t 4E• Managed and operated by Zimplats, with maintenance

contract (Sandvik) on the mining fleet• Room and pillar mining at 2.5m stoping height• Ore trucked from underground to a surface crusher• 4 fleets in production, each fleet producing 21,000 tpm ore

• LHD (Toro 400 LP)• 25t dump truck (EJC 433)• Face drilling rig (Axera LP 126) • roof bolting rig (Axera LP 126)

• Life of Mine 14 years (to 2019)

15

Current Production - Portal 2

• Full production achieved in July 06

• Good performance in first year of full production -1.027mt achieved (45% of total ore production).

• Grade performance excellent at 3.64g/t 4E -3% above prior year.

• Cost within project estimates averaging US$ 18/t ore mined (approximately 60% of open pit cost).

16

Current Production

• Total Production 184,000 tpm at 3.40 g/t 4E

Opencast Mining

100,000 tpm

100,000t @ 3.25 g/t

Portal 2 Underground

84,000 tpm

84,000t @ 3.57 g/t

184,000 t @ 3.40 g/t SMC Concentrator

184,000 tpm

17

Mining Production Statistics

670,275

670,275

FY02

4,106Underground-P4

140,48121,906Underground-P1

999,9911,027,132787,800311,054184,33732,567Underground-P2

1,126,0001,276,6961,447,2501,826,4141,927,7601,966,876Opencast

2,270,5002,325,7342,235,0502,137,4682,122,0971,999,443Total Ore mined (tonnes)

BP08FY07FY06FY 05FY 04FY 03

18

Crushing and Road Haulage

•Opencast ore crushed to -300mm, stockpiled in dome

•Portal 2 ore crushed to -140mm, conveyed to dome

•Crushed ore hauled by road train to SMC plant (77km)

19

Phase 1 expansion project

§ Approved in May 2006 at cost of USD258 million.§ In May 2007 cost revised to USD340 million.§ Cost increase mainly due to re-configuration of new

concentrator, increase in steel prices as well as the overvalued ZWD.

§ Project consists of 1,2 mtpa Portal 1 (to replace the open cast mine), 1.5 mtpa Portal 4 , 2 mtpa concentrator , 715 employee houses and related infrastructure.

§ Project will enable replacement of open cast ore and increase annual platinum production from 97 000 oz to 160 000 oz from FY11

§ Portal 1 scheduled to commence production in October 2008.

§ Portal 4 and new concentrator to commence full production in June 2010.

20

Portal 1

• Underground mine using room and pillar method at 2.5m stoping height

• Planned at 105,000 tpm, using 5 fleets. Labour 390• Trucking ore out of mine to surface crusher• Project milestones

• To mine and stockpile 140,000 tonnes ore by June 2008

• To mine 353.000 tonnes ore by Oct 2008 • To achieve full production Mar 2009

• Scheduled to replace opencast ore as from October 2008

• Current status - opening up production areas• Life of Mine – 14 years (2021)

21

Portal 4

• Underground mine using room and pillar method at 2.5m stoping height

• Access to shallow dipping production areas through 700m waste declines

• Conveying of ore from underground to surface crusher• Planned at 126,000 tpm, using 6 fleets (with potential to

expand to 189,000 tpm using 9 fleets). Labour 535• Project milestones

• To reach ore horizon in March 2008, ready for ventilation shafts• To mine and stockpile 195,000 tonnes ore by June 2009• To achieve full production Feb 2010

• Portal 4 will feed the New Ngezi concentrator• Current status – development of declines ongoing• Life of Mine – 31 years (2039)

22

Turf Village

•1 Bedroomed Housing – 330 units planned

•Pat Grade BH Housing

23

Turf Village

•2 Bedroomed Housing – 174 units planned

•Pat Grade CL Housing

24

Turf Village

•3 Bedroomed Housing – 201 units planned

•Pat Grade CH+ Housing

25

Safety

• Please wear safety equipment issued to you• Remain with the group all the times• Check your footing• Don’t touch any machinery• Feel free to highlight any unsafe condition/ behaviour• Ask if in doubt

We Care About Your Safety!We Care About Your Safety!

Your safety and that of our employees are the most important aspects of our business

Thank You