MIMOSA FACT SHEET - Impala Platinum

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MIMOSA FACT SHEET - Impala Platinum
FACT SHEET

MIMOSA
MIMOSA FACT SHEET - Impala Platinum
Mimosa locality map
Mimosa regional locality map

                       29°45'E                                                    29°50'E

                                              Shurugwi

                                                                                               20°14'S
             20°14'S

                                 Mimosa

                                               Zvishavane
                                                                          North
                                                                           Hill

                                                                                      MIMOSA

                                                               South
                                                                Hill
                  0                 2.5                  5

                                 Scale (km)

                                                             Wedza Mine
                                                                                               20°21'S
             20°21'S

                                     Far
                                    South
                                     Hill

                       29°45'E                                                    29°50’E

   Mimosa is jointly held by Implats and Sibanye-
   Stillwater. Its operations are located on the Wedza
   Geological Complex on the Zimbabwean Great Dyke,
   150 kilometres east of Bulawayo. The operation
   comprises a shallow underground mine, accessed
   by a decline shaft, and a concentrator. In FY2020,
   Mimosa produced 247 800 ounces 6E in
   concentrate.

     2
MIMOSA FACT SHEET - Impala Platinum
GEO L OGY

   The Great Dyke is a layered complex similar to that of the Bushveld Complex. It extends
   for 550 kilometres and has a maximum width of 11 kilometres. Within the Great Dyke four
   geological complexes are known to contain PGM and base metal deposits. These are the
   Wedza Complex (Mimosa – Sibanye-Stillwater and Implats), the Selukwe Complex (Unki –
   Anglo Platinum), the Hartley Geological Complex (Hartley and Ngezi Platinum Mines – Zimplats)
   and the Musengezi Complex. The Hartley Geological complex is the largest of the PGM-bearing
   complexes, containing 80% of the known PGM resources in Zimbabwe. The stratigraphy is
   broadly divided between a lower ultramafic and an overlying mafic sequence. The ultramafic
   sequence hosts the P1 pyroxenite, which in turn hosts the economic PGM-bearing Main
   Sulphide Zone (MSZ). The MSZ is generally 2 to 3 metres thick. Optimal mineralisation varies
   and, in contrast to the Bushveld Complex, is often difficult to follow visually.

   Mimosa has a well-defined grade profile where peak base metal and PGM values are offset
   vertically, with palladium dominant at the base, platinum in the centre, and nickel towards the top.

                                 Mineral Resources (inclusive reporting) as at 30 June 2020
                      Category         Tonnes (Mt)       Width (cm)      4E Grade (g/t))   6E Grade (g/t)   6E (Moz)
                     measured              31.8             200                3.75            3.97           4.1
                      indicated            12.0             200                3.45            3.67           1.4
 South Hill MSZ        inferred             6.9             200                3.63            3.86           0.9
                  inferred (oxides)         4.4             200                3.40            3.62           0.5
                         Total             55.0                                3.64            3.86           6.8
                      measured             18.0             200                3.48            3.68           2.1
                      indicated            16.3             200                3.62            3.84           2.0
 North Hill MSZ        inferred             1.9             200                3.52            3.73           0.2
                  inferred (oxides)         7.6             200                3.54            3.76           0.9
                         Total             43.8                                3.54            3.76           5.3
                      measured              3.7             200                3.70            3.93            0.5
                      indicated             2.0             200                3.87            4.12            0.3
 Far South Hill
                       inferred             0.0             200                3.94            4.19            0.0
     MSZ
                  inferred (oxides)         5.9             200                3.43            3.65            0.7
                         Total             11.7                                3.59            3.82            1.4
                   Overall total         110.4                               3.60              3.82           13.6
                                          Mineral Reserves as at 30 June 2020
                    Category         Tonnes (Mt)       Width (cm)       4E Grade (g/t))   6E Grade (g/t)    6E (Moz)
                     proved              8.1               200               3.38              3.61           0.9
  South Hill
                    probable             1.5               200               3.19              3.37           0.2
 MSZ (Wedza)
                       Total             9.5                                 3.35              3.57           1.1
                     proved              10.3              200               3.61              3.89           1.3
  South Hill
                    probable              7.8              200               3.36              3.62           0.9
MSZ (Mtshingwe)
                       Total             18.1                                3.50              3.77           2.2
                 Total South Hill
                                         27.6                                3.45              3.70           3.3
                Mineral Reserves

                                                                                                                       3
MIMOSA FACT SHEET - Impala Platinum
INTRODUCTION         SCENE                       THE DETAILS – MINERAL RESOURCES
                                                                                                                                      AND OVERVIEWINTRODUCTION
                                                                                                                                                          SETTING                     SCENE AND MINERAL  RESERVES
                                                                                                                                                                                                    THE DETAILS                APPENDICES
                                                                                                                                                                                                                – MINERAL RESOURCES
                                                                                                                                                  AND OVERVIEW                       SETTING             AND MINERAL RESERVES             APPENDICES

    Mimosa
       Mimosa
     Mimosa Mimosa
            – MSZ - MSZ                                                                                                                               Mimosa MSZ 6E metal ratio
             Mimosa – MSZ
                                                                                                                                                      Mimosa
                                                                                                                                                      as at 30 JuneMSZ
                                                                                                                                                                    2020 6E
                                                                                                                                                                   Mimosa    metal6Eratio
                                                                                                                                                                         (%) MSZ     metalasratio
                                                                                                                                                                                             at 30                     June 2020
                                                                                       Q
                                                                                           Pt    Q
                                                                                                      Pd   Q
                                                                                                               Ni                                                      as at 30 June 2020 (%)
                       250                                                                                 Q
                                                                                                               Pt       Q
                                                                                                                            Pd    Q
                                                                                                                                      Ni
                       200                         250                                                                                                 Pt                                                                           46.2
                       150                         200                                                                                                                  Pt                                                                        46.2
                       100                         150                                                                                                 Pd                                                               36.1
         Width (cm)

                        50                         100                                                                                                                 Pd                                                          36.1
                                                                                                                                                                  3.9
                                     Width (cm)

                         0                          50                                                                                                 Rh
                       -50                           0                                                                                                                 Rh            3.9
                                                                                                                                                       Ru         3.8
                      -100                         -50
                      -150                                                                                                                                             Ru            3.8
                                                  -100                                                                                                           3.0
                                                                                                                                                        Ir
                      -200                        -150
                                                                                                                                                                        Ir          3.0
                      -250                        -200                                                                                                 Au               7.0
                             0                    -250            2                        4                        6                                                  Au                  7.0
                                                         0    Grade [g/t (Pt, Pd), 2% x 10 (Ni)]          4                                6                 0                10%             20%          30%             40%        50%
                             O   Pyroxenite                                                                                                                                  0                 10%   (%) 20%              30%         40%          50%
                                                                             Grade [g/t (Pt, Pd), % x 10 (Ni)]
                                                         O Pyroxenite                                                                                                                                             (%)
                                                                                                                                                     Metal ratios derived from the Mineral Reserve estimate.
                                                                                                                                                                  Metal ratios derived from the Mineral Reserve estimate.

    Exploration                                                                                         2019 with five (5) diamond drillholes from the 2018 – 2019 drilling
              Exploration
    The lease area has been explored by a total of 514 exploration                                      campaign 2019being with     five batch
                                                                                                                              the last   (5) diamond     drillholesinfrom
                                                                                                                                                 to be included               the 2018
                                                                                                                                                                       the solids      and– 2019 drilling
                The lease
    core-recovering            area of
                         drillholes   haswhich
                                             been134 explored
                                                          are onbythe  a total
                                                                          NorthofHill                                campaign
                                                                                      514 exploration block modelling.              being the
                                                                                                                              Rounding           last batch
                                                                                                                                            of numbers     mayto be   included
                                                                                                                                                                  result   in minor in the solids and
                core-recovering         drillholes    of which     134
    deposit, 344 on the South Hill, four on Mtshingwe Fault Block and    are    on   the  North  Hill   computationalblock    modelling.
                                                                                                                          discrepancies.     Rounding
                                                                                                                                                Mineral  of  numbers
                                                                                                                                                         Resource         may
                                                                                                                                                                       estimates  result
                                                                                                                                                                                       arein minor
                deposit,
    22 on the Far     South344 Hill.on
                                     Thethearea
                                              SouthhasHill,
                                                         alsofour
                                                               been on explored
                                                                         Mtshingwe     by Fault Block and            computational
                                                                                                        inherently imprecise              discrepancies.
                                                                                                                                  in nature.    The resultsMineral     Resource
                                                                                                                                                               tabulated               estimates are
                                                                                                                                                                              in this report
                22   on  the   Far   South    Hill. The     area has
    surface mapping and trenching. The drillholes were drilled and      also    been     explored   by  must   be    inherently
                                                                                                                   read  as        imprecise
                                                                                                                              estimates     and  in nature.
                                                                                                                                                  not  as     The  results
                                                                                                                                                          calculations.        tabulated
                                                                                                                                                                             Inferred        in this report
    assayed oversurface    mapping
                      a series            andcampaigns
                                  of drilling   trenching. The        drillholes
                                                                spanning       the were                              must be in
                                                                                     life drilled and Mineral Resources          read   as estimates
                                                                                                                                    particular           anded
                                                                                                                                                  are qualifi   notasas   calculations. Inferred
                                                                                                                                                                     approximations.
    of the mine.assayed
                   Drill core over   a seriesNQ
                                 is largely      of size
                                                    drilling  campaigns
                                                           though                spanning the life The MineralMineral
                                                                      the unconsolidated                               Resource Resources
                                                                                                                                     estimate  in refl
                                                                                                                                                   particular
                                                                                                                                                      ects theare   qualifi
                                                                                                                                                                 actual      ed asdepletion
                                                                                                                                                                          spatial     approximations.
    part of the of  theismine.
                 hole     drilledDrill
                                     HQcoresize.isAll
                                                   largely    NQ size
                                                       drill holes   are though
                                                                           logged the unconsolidated    as at 31 May The2020
                                                                                                                          MineralandResource        estimate
                                                                                                                                       the non-spatial         reflectsdepletion
                                                                                                                                                           forecast       the actual  to spatial depletion
    lithologically
                  MIN I N G
                part
                   and ofgeotechnically.
                          the hole is drilled
                lithologically     and
                                               All HQ     size. Alland
                                                    lithological
                                         geotechnically.       All
    verified for integrity before being imported into the database.
                                                                      drill assay
                                                                            holes data
                                                                   lithological
                                                                                      are logged
                                                                                     and
                                                                                             are
                                                                                           assay  data
                                                                                                        30 June 2020.as atThe
                                                                                                                            31 May
                                                                                                                                 main2020change andcan
                                                                                                                                                     thebenon-spatial
                                                                                                                                                             attributedforecast
                                                                                                                                                                            to normal
                                                                                                        mining depletion and review of Mineral Resource loss factors. to normal
                                                                                                        are          30  June    2020.    The   main   change     can  be   attributed
                                                                                                                     mining depletion and review of Mineral Resource loss factors.
                                                                                                                                                                                       depletion to

                verified fordrilling
    Surface exploration         integrity    before being
                                        continued       duringimported
                                                                 the past into  yearthe    database.
                                                                                        with
    4 487m in Surface       exploration
                 total drilled               drillingdrillholes.
                                  in 33 surface         continued during the past year with The classification of Mineral Resources at Mimosa is informed by
                4 487m in total drilled in 33 surface drillholes.                                                    The classifigeological
                                                                                                        a matrix considering        cation of Mineral     Resources
                                                                                                                                                  complexity    and theatconfi  Mimosa
                                                                                                                                                                                   dence   is in
                                                                                                                                                                                               informed by
                                                                                                                     a matrixestimation.
                                                                                                        the geostatistical       considering  In geological
                                                                                                                                                  broad terms  complexity
                                                                                                                                                                  confidence     andis the   confidence in
                                                                                                                                                                                       derived
    Mineral Resource estimation and reconciliation
                Mineral                                                                                 from surface thedrill
                                                                                                                         geostatistical
                                                                                                                               hole spacing  estimation.   In broad
                                                                                                                                                and this has            terms weighting
                                                                                                                                                                 the largest      confidence is derived
    The updated      MineralResource
                                Resource estimatesestimation          and reconciliation
                                                              are tabulated       below. The
                                                                                                                     from surface     drillResources:
                                                                                                                                             hole spacing and this has the largest weighting
    statement The      updated      Mineral    Resource       estimates                Mimosa below. on
                                                                              arefortabulated           Theclassification     of Mineral
                 reflects
                        Mimosa holds contiguous mining rights over 6 594 hectares on the North Hill, the South
                statement
    as at 30 June
                           the total    Mineral
                                reflects Resources
                      2020. Mineral
                                                    Resource
                                           the total Mineral
                                                                   estimate
                                                                   Resource
                                                            are quoted             estimate
                                                                             inclusive    of for Mimosa • Drillhole on   classifiless
                                                                                                                      spacing     cation
                                                                                                                                       than of250m
                                                                                                                                               Mineral   Resources:
                                                                                                                                                       apart  supports Measured
                as at 30Mineral
                             June 2020.       Mineral     Resources        areforquoted                              • Drillhole spacing less than 250m apart supports Measured
                                                                                            inclusive of Mineral Resources
    Mineral Reserves.
    geological Mineral  Hill, Mtshingwe Block and Far South Hill orebody areas. The orebody is shallow and
                           Reserves.
                 losses, while
                                       Resource       estimates
                                           Mineral Resource
                                    no allowance        is made for
                                                                     allow
                                                                     estimates
                                                                                   estimated
                                                                         anticipated                    •
                                                                                      allow for estimated  Drillhole    Mineral
                                                                                                                      spacing      Resources
                                                                                                                                 between      250m    and  500m supports Indicated
                geological      losses,eventual
                                           while nomining.
                                                        allowance      is made       for anticipated                 • Drillhole spacing between 250m and 500m supports Indicated
                                                                                                           Mineral Resources
    support pillar   losses during                               Mineral      Resource
    grades aresupport   mining commences at a depth of 150 metres below the surface and extends to a depth
                  quoted pillar     losses
                             in situ.         during eventual
                                       The Mineral       Resourcemining.estimates Mineral Resource • Drillhole spacing  Mineralgreater
                                                                                                                                   Resourcesthan 500m supports Inferred Mineral
                                                                                                           Resources.• Drillhole spacing greater than 500m supports Inferred Mineral
    have been grades       are quoted
                  done using       Surpac™  in situ.   The Mineral
                                                 software               Resource
                                                              using inverse              estimates
                                                                                   distance
                have    of approximately 200 metres. The bord and pillar mining method is employed and stoping
                        been     done    using    Surpac™       software
    techniques. The estimation block model cut-off was in December             using    inverse  distance               Resources.
                techniques. The estimation block model cut-off was in December
                        widths average around 2 metres. Mining bords advance along the strike.
    Mimosa Mineral Resource estimates (inclusive reporting)
             Mimosa Mineral Resource estimates (inclusive reporting)
                                                                                   As at 30 June 2020
                        The mining cycle involves mechanised support drilling and installation, mechanised face
                                                                                                As at 30 June 2020
    Orebody                          South Hill MSZ                                         North Hill MSZ                                   Far South Hill MSZ
               Orebody  drilling, charging and blasting, and mechanised lashing onto a conveyor network to an
                                                   South Hill MSZ                                        North Hill MSZ                                   Far South Hill MSZ
                                                     Inferred                                              Inferred                                           Inferred
    Category            underground bunker. From the bunker ore is conveyed out to a surface stockpile.
                     Measured Indicated Inferred      (Oxides)       Inferred
                                                                  Total Measured Indicated Inferred         (Oxides)    Inferred
                                                                                                                      Total Measured Indicated Inferred        (Oxides)    Inferred Total
                                                                                                                                                                         Total
               Category           Measured Indicated Inferred         (Oxides)     Total Measured Indicated Inferred     (Oxides)     Total Measured Indicated Inferred     (Oxides)      Total                                                          Total
    Tonnes    Mt       31.8     12.0        6.9         4.4 55.0               18.0      16.3      1.9        7.6    43.8         3.7        2.0     0.0         5.9    11.7 110.4
    Width      Tonnes 200Mt 20031.8 20012.0 2006.9
              cm                                                        4.4 200  55.0 20018.0 20016.3 2001.9               7.6 20043.8 2003.7 2002.0 2000.0                    5.9     11.7                                                         110.4
               Width 3.75cm 3.45200 3.63200 3.40200 3.64 200 3.48
    4E grade g/t                                                                         3.62200 3.52200 3.54200 3.54200 3.70               3.87200 3.94200 3.43200 3.59200 3.60
               4E grade3.97g/t 3.673.75 3.863.45 3.623.63 3.863.40 3.68
    6E grade g/t                                                                 3.64 3.843.48 3.733.62 3.763.52 3.763.54 3.933.54 4.123.70 4.193.87 3.653.94 3.823.43 3.823.59                                                                      3.60
    Ni         6E
               % grade0.14g/t 0.153.97 0.153.67 0.123.86 0.143.62 0.14           3.86 0.163.68 0.143.84 0.143.73 0.153.76 0.143.76 0.153.93 0.164.12 0.134.19 0.143.65 0.143.82                                                                      3.82
    Cu         Ni
               %       0.11 % 0.110.14 0.120.15 0.110.15 0.110.12 0.10           0.14 0.120.14 0.100.16 0.110.14 0.110.14 0.110.15 0.110.14 0.110.15 0.100.16 0.110.13 0.110.14                                                                      0.14
    4E oz      Cu
             Moz         3.8 % 1.30.11 0.80.11 0.50.12 6.40.11 2.0               0.11 1.90.10 0.20.12 0.90.10 5.00.11 0.40.11 0.20.11 0.00.11 0.70.11 1.40.10 12.80.11                                                                               0.11
    6E oz      4E oz 4.1
             Moz           Moz 1.43.8 0.91.3 0.50.8 6.8 0.5 2.16.4 2.02.0 0.21.9 0.90.2 5.30.9 0.55.0 0.30.4 0.00.2 0.70.0 1.40.7 13.61.4                                                                                                            12.8
    Pt oz      6E
             Moz  oz       Moz
                         1.9       0.6 4.1  0.4  1.4    0.2   0.9 3.2   0.5     1.06.8 0.92.1 0.12.0 0.40.2 2.50.9 0.25.3 0.10.5 0.00.3 0.30.0 0.70.7 6.31.4                                                                                         13.6

4   Pd oz      Pt oz
             Moz           Moz 0.51.9 0.30.6 0.20.4 2.5 0.2 0.83.2 0.71.0 0.10.9 0.30.1 1.90.4 0.22.5 0.10.2 0.00.1 0.20.0 0.50.3 4.90.7
                         1.5
                                 Pd oz                   Moz          1.5        0.5            0.3        0.2              2.5                0.8      0.7        0.1          0.3          1.9      0.2        0.1       0.0     0.2      0.5
                                                                                                                                                                                                                                                      6.3
                                                                                                                                                                                                                                                         4.9
MIMOSA FACT SHEET - Impala Platinum
SU S TA I N A B L E
                                              M E TA L L U R G Y
DEV E L O P M E N T

 Mimosa remains committed to social             Mimosa has a concentrator plant on
 development initiatives and engages            site where initial processing is done.
 in, develops and builds community              Concentrate is transported by road to
 relationships. It takes responsibility for     Impala’s Mineral Processes facility in
 economic, social and environmental             South Africa in terms of a life-of-mine
 issues that impact its people,                 offtake agreement with Impala
 communities and environments and               Refining Services (IRS). Discussions
 is involved in a number of community           continue with the Government of
 projects in the area.                          Zimbabwe regarding beneficiation.
                                                The implementation of a 15% export
                                                levy on unbeneficiated platinum was
                                                deferred to end 2022.

INDI GE N I S AT I O N

 The Government of Zimbabwe has been pursuing greater participation in the mining
 sector by indigenous Zimbabweans. The company continues to engage with the
 government with respect to plans in this regard.

                                                                                          5
MIMOSA FACT SHEET - Impala Platinum
HIST O R Y

     Mimosa was acquired by Zimasco from Union Carbide in 1993. Zimasco piloted
     platinum mining in Zimbabwe by resuscitating the operation and steadily increasing
     production to 1 000 tonnes per day achieved in 1998. In July 2001, Implats acquired
     a 35% stake in Mimosa for R246 million. This stake was increased to 50% with a further
     acquisition of 15% in August of the following year. Aquarius acquired a 50% stake in
     Mimosa during the same year. In 2016 Sibanye-Stillwater acquired all the shares that
     formerly belonged to Aquarius.

6
MIMOSA FACT SHEET - Impala Platinum
mimosa – k ey statistics

 Mimosa – KEY STATISTICS                         FY2020        FY2019
 Production
 Tonnes milled ex mine              (000t)          2 701         2 814
 Headgrade (6E)                      (g/t)           3.85          3.83
 6E in concentrate                  (000oz)           248         122.1
 Labour efficiency
 Tons milled per employee
                                 (t/man/annum)      1 170         1 220
 costed*
 Cost
 Mining cost of sales                (Rm)          (3 494)       (3 675)
 On-mine operations                  (Rm)          (2 168)       (1 996)
 Processing operations               (Rm)            (720)        (679)
 Other                               (Rm)            (606)       (1 000)

 Total cost                          (Rm)           2 982         2 852
                                    (US$m)            190           201
 Unit costs
                                     (R/t)          1 104         1 014
 per tonne milled
                                    (US$/t)            70            71

 per 6E ounce                       (R/oz)         12 034        10 944
 in concentrate                    (US$/oz)           768           771
 Financial ratios
 Gross margin ex mine                 (%)            34.8          17.4
 Capital expenditure
                                     (Rm)             679           693
                                    (US$m)             43            49
 Safety
 LTIFR                             (pmmhw+)          0.50          0.53
 FIFR                              (pmmhw+)                –       0.11
 Labour complement
 Own employees                       (no)           1 291         1 338
 Contractors                         (no)           2 231         1 009

+ Per million man hours worked
* Average working cost employees including contractors

                                                                           7
CONTACT DETAILS

                HEAD OFFICE
                2 Fricker Road, Illovo, 2196
                Private Bag X18, Northlands, 2116
                Tel: +27 (11) 731 9000
                E-mail: investor@implats.co.za
                www.implats.co.za

                Group Executive: Corporate Affairs
                Johan Theron
                Tel: +27 (11) 731 9013
                E-mail: johan.theron@implats.co.za

                Executive: Corporate Affairs
                Emma Townshend
                Tel: +27 (21) 794 8345
                E-mail: emma.townshend@implats.co.za

                Group Head: Corporate
                Communications
                Alice Lourens
                Tel: +27 (11) 731 9033
                E-mail: alice.lourens@implats.co.za

DECEMBER 2020
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