Group summary of resource and reserve estimates

This document indicates Exxaro’s mineral resources and ore reserves remaining as at 31 December 2017. Mineral resource and ore reserve figures are not an inventory of all mineral occurrences drilled or sampled, but a realistic record of those which, under assumed and justifiable technical and economic conditions, may be economically extractable currently and in future.

Mineral resources and ore reserves are reported inclusive of mineral resources that have been converted to ore reserves. An exception is reporting for Gamsberg and Black Mountain Mining, because figures received from Vedanta plc (JORC Code) represent mineral resources excluding ore reserves.

Exxaro includes all estimates directly under its management control and estimates of entities in which Exxaro holds a 25% interest or larger. Mineral resources and ore reserves are reported at 100%, irrespective of the percentage attributable to Exxaro.

The percentage attributable tonnage can be deduced from the attributable ownership stated in the mineral resources and ore reserves tables and the summarised tonnages are shown in table 2. Explanations for material changes are provided as footnotes in the mineral resources and ore reserves tables and detailed explanations for year-on-year movements are provided.

Commodity Resource
category
  2017
MTIS (Mt)
 
Exxaro attributable tonnes Measured   4 741  
Waterberg + Captive + Commercial Indicated   2 346  
+ ECC + Mafube and Moranbah Inferred   6 991  
  Total   14 078  
  Proved   3 131  
  Probable   724  
  Total reserves   3 856  

Coal resources

Table below details the total inclusive coal resources estimated as at 31 December 2017.

Table 3: Coal resources and qualities for 2017

        2017 – tonnes and grade4     2016 – tonnes and grade4    
Operation1 Location3 Resource
category
  Tonnes
(Mt
CV MJ/
kg
%
Ash
%
IM
%
S
    Tonnes
(Mt
CV MJ/
kg
%
Ash
%
IM
%
S
%
change
in
tonnes5
 
Arnot mine6 Measured   20,2 24,2 26,6 4,0 1,0     20,2 24,2 26,6 4,0 1,0    
(OC) Indicated   18,9 24,5 26,7 3,8 0,9     18,9 24,5 26,7 3,8 0,9    
(in closing) Inferred   8,8 24,0 26,7 3,9 0,8     8,8 24,0 26,7 3,9 0,8    
Mpumalanga Total   47,9 24,3 26,7 3,9 1,0     47,9 24,3 26,7 3,9 1,0  
100% attributable to Exxaro2 Resources inside life-of-mine plan (LoMP)                           No LoMP   
Arnot mine6 Measured   118,3 23,6 22,0 4,0 1,0     118,3 23,6 22,0 4,0 1,0    
(UG) Indicated   45,4 23,4 22,6 4,2 0,9     45,4 23,4 22,6 4,2 0,9    
(in closing) Inferred   12,5 23,8 21,4 4,3 0,9     12,5 23,8 21,4 4,3 0,9    
Mpumalanga Total   176,2 23,5 22,1 4,1 1,0     176,2 23,5 22,1 4,1 1,0  
100% attributable to Exxaro2 Resources inside life-of-mine plan (LoMP)                           No LoMP   
Matla mine7 Measured   641 20,1 30,9 4,5 1,0     752 20,1 30,8 4,4 1,0    
(UG) Indicated   204 20,0 30,3 4,5 0,9     211 19,7 30,7 4,4 0,9    
(captive market) Inferred   251 19,9 29,6 4,6 0,9     88 21,1 27,0 4,7 1,0    
Mpumalanga Total   1 096 20,0 30,5 4,5 1,0     1 051 20,1 30,5 4,4 1,0  
100% attributable to Exxaro2 Resources inside life-of-mine plan (LoMP)   354 21,1 27,8 4,6 1,0     398 21,0 28,1 4,6 1,0    
Leeuwpan mine Measured   118,2 20,5 31,1 3,2 1,1     128,0 20,3 31,0 3,5 0,9    
(OC) Indicated                              
(commercial market) Inferred   3,7 21,1 32,1 2,3 1,2     3,7 21,0 31,6 2,3 1,1    
Mpumalanga Total   121,9 20,5 31,1 3,2 1,1     131,7 20,4 31,0 3,5 0,9 (9)  
100% attributable to Exxaro2 Resources inside life-of-mine plan (LoMP)   97,4 20,4 31,4 3,1 1,2     104,3 20,3 31,0 3,2 1,0    
Mafube mine8 Measured   129,3 21,6 26,8 3,8 1     133,6 21,6 26,7 3,8 1,0    
(OC) Indicated   10,1 22,0 25,7 3,9 0,9     10,1 22,0 25,7 3,9 0,9    
(commercial market) Inferred                              
Mpumalanga Total   139,4 21,6 26,7 3,8 1,0     143,7 21,6 26,6 3,8 0,9 (3)  
50% attributable to Exxaro2 Resources inside life-of-mine plan (LoMP)   64,6 22,0 25,6 3,7 1,0     68,7 22,0 25,4 3,7 1,0    
NBC mine9 Measured   15,0 21,1 27,3 3,9 0,9     19,7 21,06 27,3 3,9 0,9    
(OC) Indicated                              
(commercial market) Inferred                              
Mpumalanga Total   15,0 21,1 27,3 3,9 0,9     19,7 21,06 27,3 3,9 0,9 (20)  
100% attributable to Exxaro2 Resources inside life-of-mine plan (LoMP)   4,1 20,5 29,4 3,8 0,7     4,1 19,7 29,1 3,8 1,2    
Glisa South project10 Measured   62,1 19,0 31,6 3,4 0,9     20,0 19,0 32,0 3,5 0,9    
(prospecting) Indicated   16,2 20,7 28,6 3,5 1,0     47,1 19,0 31,8 3,6 1,0    
Mpumalanga Inferred   13,2 20,3 29,4 3,4 1,2     9,4 21,0 27,6 3,6 1,0    
100% attributable to Exxaro2 Total   91,5 19,5 30,8 3,4 1,0     76,5 19,3 32,0 3,5 0,9 20   
Belfast project11 Measured   81,1 24,8 18,7 3,6 1,1     81,1 24,8 18,7 3,6 1,1    
(OC) Indicated   22,4 21,6 26,9 3,7 1,1     22,4 21,6 26,9 3,7 1,1    
(mining right) Inferred   34,4 20,0 31,2 3,4 1,0     34,4 20,0 31,2 3,4 1,0    
Mpumalanga Total   137,8 23,1 23,2 3,6 1,1     137,8 23,1 23,2 3,6 1,1  
100% attributable to Exxaro2 Resources inside life-of-mine plan (LoMP)   47,1 25,2 17,6 3,6 1,2     47,1 25,2 17,6 3,6 1,2    
Dorstfontein Complex12 Measured   158,1 19,9 33,4 2,9 1,1     85,7 20,7 31,2 3,0 1,2    
(OC/UG) Indicated   142,4 19,2 34,6 3,1 1,2     41,5 20,4 31,6 3,0 1,1    
(commercial market) Inferred   47,4 19,4 34,4 2,9 1,1     171,2 19,6 33,7 2,9 1,1    
Mpumalanga Total   347,9 19,5 34,1 2,9 1,1     298,4 20,0 32,7 3,0 1,1 17   
74% attributable to Exxaro2 Resources inside life-of-mine plan (LoMP)   62,3 21,3 29,1 3,1 1,0     75,6 21,2 29,2 3,0 1,0    
Rietkuil Vhakoni13 Measured   82,3 19,0 36,2 2,6 1,0     28,3 19,3 35,6 2,5 1,2    
(prospecting right) Indicated   11,6 18,6 37,4 2,8 1,2     20,6 19,4 35,7 2,4 1,2    
Mpumalanga Inferred   8,6 18,5 37,2 2,6 1,0     52,6 18,1 38,9 2,6 1,1    
74% attributable to Exxaro2 Total   102,5 18,7 37,0 2,6 1,0     101,5 18,7 37,3 2,5 1,1  
Forzando Mine14 Measured   83,1 21,6 29,1 2,8 1,1     75,7 22,2 27,2 2,9 1,2    
(UG) Indicated   35,2 22,2 27,6 2,8 1,2     53,4 21,9 28,3 2,9 1,2    
(commercial market) Inferred   26,1 21,2 30,2 2,9 1,2     31,7 21,2 30,4 2,8 1,2    
Mpumalanga Total   144,4 21,7 28,8 2,8 1,2     160,8 21,9 28,2 2,9 1,2 (10)  
87% attributable to Exxaro2 Resources inside life-of-mine plan (LoMP)   74,1 21,4 29,6 2,8 1,1     73,6 21,5 29,2 2,8 1,1    
Forzando Projects15 Measured   0,2 21,4 30,6 2,5 0,5     0,3 21,7 29,4 2,6 0,6    
(prospecting right) Indicated   16,5 20,4 21,3 3,1 1,5     15,8 20,9 30,9 3,2 1,5    
Mpumalanga Inferred   4,3 20,9 32,9 2,5 1,4     6,8 20,7 32,7 2,5 1,2    
86.75% attributable to Exxaro2 Total   21,0 20,6 24,9 2,9 1,5     22,9 20,8 31,4 3,0 1,4 (8)  
Schurvekop                                
1063 PR16 Measured   35,0 20,2 31,7 3,3 1,2     31,1 20,0 32,0 3,4 1,2    
(prospecting right) Indicated   5,6 20,0 31,8 3,3 1,1     8,7 20,4 30,8 3,4 1,4    
Mpumalanga Inferred   0,2 19,7 32,3 3,8 0,8     0,5 19,0 34,5 3,6 0,8    
49% attributable to Exxaro2 Total   40,8 20,2 31,7 3,3 1,2     40,3 20,1 31,8 3,4 1,2  
Tumelo Mine17 Measured   8,7 21,7 29,7 2,5 1,5     6,0 23,4 24,9 2,6 1,3    
(UG) Indicated   0,2 20,6 32,8 2,5 1,6                  
Mpumalanga Inferred   1,8 21,4 31,0 2,4 1,8                  
49% attributable to Exxaro2 Total   10,7 21,6 29,9 2,5 1,6     6,0 23,4 24,9 2,6 1,3 78   
Eloff Project18 Measured   Disinvest     9,4 19,6 31,3 3,7 1,2    
(prospecting) Indicated                 213,5 19,3 30,5 3,9 0,9    
Mpumalanga Inferred                 201,1 19,1 31,2 3,9 0,9    
  Total                 424,0 19,2 30,9 3,9 0,9 (100)  
Grootegeluk mine19 Measured   2 902 16,7 47,8 1,7 1,5     3 025 16,7 47,7 1,8 1,4    
(OC) Indicated   1 017 16,5 48,4 1,6 1,4     837 17,0 47,2 1,6 1,5    
(commercial market) Inferred   653 16,5 48,0 1,8 1,5     673 16,4 48,4 1,9 1,4    
Limpopo Total   4 572 16,6 48,0 1,7 1,5     4 535 16,7 47,7 1,8 1,4  
100% attributable to Exxaro2 Resources inside life-of-mine plan (GG open-cast LoMP)   3 837 16,3 48,8 1,7 1,5     3 420 16,3 48,8 1,8 1,5    
Thabametsi project20                                
(OC/UG) Measured   270 13,0 52,3 1,9 1,2     270 13,0 52,3 1,9 1,2    
(mining right) Indicated   749 12,6 53,1 1,8 1,1     749 12,6 53,1 1,8 1,1    
Limpopo Inferred   2 916 12,7 52,7 1,9 1,3     2 916 12,7 52,7 1,9 1,3    
    Total   3 935 12,7 52,7 1,9 1,3     3 935 12,7 52,7 1,9 1,3 –   
100% attributable to Exxaro2 Resources inside life-of-mine plan (IPP LoMP)   133 12,0 54,7 1,9 1,0     133 12,0 54,7 1,9 1,0    
Tshikondeni mine21 Measured   Does not meet RPEEE requirements.     3,7 30,8 24,0 0,7 0,7    
(in closing) Indicated                 25,1 30,8 24,0 0,7 0,7    
Limpopo Inferred                              
100% attributable to Exxaro2 Total                 28,8 30,8 24,0 0,7 0,7    
Waterberg North project23 Measured                              
(prospecting) Indicated                              
Limpopo Inferred   2 147 13,3 49,7 2,5 1,2     2 147 13,3 49,7 2,5 1,2    
100% attributable to Exxaro2 Total   2 147 13,3 49,7 2,5 1,2     2 147 13,3 49,7 2,5 1,2 –   
Waterberg South project24 Measured                              
(prospecting) Indicated                              
Limpopo Inferred   869 15,9 39,6 2,9 1,7     869 15,9 39,6 2,9 1,7    
100% attributable to Exxaro2 Total   869 15,9 39,6 2,9 1,7     869 15,9 39,6 2,9 1,7 –   
Zonderwater project25 Measured   Relinquished                  
(prospecting) Indicated                 23 24,3 20,8 2,3 2,2    
Limpopo Inferred                 51 24,0 21,6 2,2 2,3    
0% attributable to Exxaro2 Total                 74 24,0 21,4 2,3 2,3    
Moranbah South project26 Measured   482 26,7 23,7 2,6 0,6     482 26,7 23,7 2,6 0,6    
(UG) (prospecting) Indicated   222 27,3 21,7 2,6 0,6     222 27,3 21,7 2,6 0,6    
Australia Inferred   28 28,5 18,9 2,7 0,5     28 28,5 18,9 2,7 0,5    
50% attributable to Exxaro2 Total   732 27,0 22,9 2,6 0,6     732 27,0 22,9 2,6 0,6 –   
Rounding figures may cause computational discrepancies
All changes more than 10% are explained
Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt
Coal resources and qualities (raw coal) are quoted on a mineable tonnage in-situ (MTIS) and air-dried basis
Coal resources are quoted inclusive of coal resources that have been modified to coal reserves unless otherwise stated
Resources inside Life of Mine Plan (LoMP) refer to total mineable tonnes in-situ (MTIS) resources within LoMP layout
1 Operation refers to operating mine or significant project. Mining method: OC – open-cut, UG – underground
2 Figures are reported at 100% irrespective of percentage attributable to Exxaro and refer to 2017 only
3 Locality maps are for illustrative purposes only. Detailed maps are provided in Chapter 9
4 Raw coal qualities (air-dried basis). CV: Calorific Value (gross), VM: Volatile Matter, IM: Inherent Moisture, S: Total Sulphur
5 The percentage difference between 2017 reported MTIS and 2016 reported MTIS. Brackets signify a negative
6 Mine is in closure. The remaining resources have reasonable prospects for eventual economic extraction
7 Movements within resource categories is due to an update of the geological model with new information and a subsequent review of the resource classification. The decrease inside LoMP is a result of mining depletion and an updated mine plan
8 Estimates are received from Anglo American Coal Proprietary Limited and not audited by Exxaro
9 The decrease is primarily the result of mining (~4,3Mt) and sterilisation of resources due to spontaneous combustion (0,4Mt). A slight increase of ~0,5Mt was established at Eerstelingsfontein as a result of new information and subsequent update of the geological model
10 The project is adjacent to the current Glisa (NBC) mine and is considered as an extension of the current operation, pending feasibility studies. The changes in the result of an updated geological model with additional drillhole information (~30 drillholes)
11 All pending licensing appeals lodged against the operation were resolved and construction has started in the fourth quarter of 2017
12 The complex comprises of the East (open-cast) and West (underground) operations. The changes and movements in the categories were mainly the result of an update of the geological model with new information (130 drillholes) and an improved definition of the applied geological loss domains
13 The approval of a section 102 application to incorporate the right into Dorstfontein 119 MR is pending. The changes between the categories is the result of an update of the geological model with new information and a subsequent update of the resource classification
14 The complex consists of the mining operations of Forzando South and Forzando North (care and maintenance). The change is primarily the result of new drillhole information (-1,9Mt). Exxaro has a 74% direct interest and indirect interest of 12.75% through Mmakau mining
15 Consists of a number of prospecting rights (1846 PR, 1035 PR and 1170 PR) that are adjacent to the Forzando operation. The change is primarily the result of the update of the model with new drillhole information (-1,9Mt)
16 Estimates are received from Mmakau Mining, the majority (51%) owner of the project
17 The change is a result of an updated geological model and a revised structural model
18 Commercial agreement was concluded and seeding of rights are in process
19 The changes within resource categories is the result of an updated structural model and subsequent resource classification. Geological structural complex areas that potentially could have an impact on future bench definition and seam continuity have been thoroughly reviewed and a number of areas were subsequently downgraded to a lower category pending additional open hole drilling. The increase in resources inside LoMP is a result of the larger LoMP footprint
20 Adjacent to the operating Grootegeluk mine. The eventual economic viability is inferred from IPP technical studies
21 Tshikondeni Mine is in the process of mine closure. The remaining remnant metallurgical coal estimates do not meet Exxaro’s criteria for reasonable prospects for eventual economic extraction (market and geological structure)
22 Reasonable prospects for eventual economic extraction is guided by potential economic value as indicated by a concept mining exploitation strategy
23 The section 11 (ministerial consent) for the planned disinvestment from the Waterberg South project was halted due to the cancellation of the commercial agreement with the prospective party. Reasonable prospects for eventual economic extraction is guided by potential economic value as indicated by a concept mining exploitation strategy
24 Exxaro relinquished the right in 2017
26 Estimates are received from Anglo American Metallurgical Coal Proprietary Limited and not audited by Exxaro

Coal reserves

Table below details the total coal reserves estimated as at 31 December 2017.

Table 4: Coal reserves reported for 2017

          2017 – ROM and saleable tonne5     2016 – ROM and saleable tonnes5    
Operation1 Location3 Life of  
mine  
(years)4
category   ROM
(Mt)
Export
(Mt)
Thermal
(Mt)
Metal-lurgical
(Mt)
    ROM
(Mt)
Export
(Mt)
Thermal
(Mt)
Metal-
lurgical
(Mt)
%  
change  
in  
ROM5
 
Matla mine7 7+ Proved   194,9   194,9       220,5   219,4      
(UG) Probable   36,8   36,1       33,6   33,4      
(captive market)   Total   231,7   231,0       254,1   252,8   (9)  
100% attributable to Exxaro2 Inferred resources inside life-of-mine plan   9,3           5,3          
Leeuwpan8 12 Proved   61,9   43,2 1,0     13,7   6,3 2,4    
(OC) Probable   3,3   2,0       52,9   10,1 16,5    
(commercial market)   Total   65,1   45,2 1,0     66,6   16,4 18,9 (2)  
100% attributable to Exxaro2 Inferred resources inside life-of-mine plan                          
Mafube9 13 Proved   0,8 0,5 0,2       4,8 2,3 1,1      
(OC) Probable   64,0 27,4 14,3       64,0 27,4 14,3      
(commercial market)   Total   64,8 27,9 14,5       68,8 29,7 15,4   (6)  
50% attributable to Exxaro2 Inferred resources inside life-of-mine plan                          
NBC mine10 1 Proved   1,5   1,1       1,9   1,6      
(OC) Probable   1,4   1,3       1,9   1,5      
(commercial market)   Total   2,9   2,4       3,8   3,1   (24)  
100% attributable to Exxaro2 Inferred resources inside life-of-mine plan                          
Belfast project 17 Proved   45,7 32,6 8,1       45,7 35,3 8,1      
(OC) Probable                          
(commercial market)   Total   45,7 32,6 8,1       45,7 35,3 8,1   0  
100% attributable to Exxaro2 Inferred resources inside life-of-mine plan   0,5           0,5          
Dorstfontein complex11 15 Proved   36,5 20,3         34,5 20,8        
(OC/UG) Probable   7,7 4,7         9,0 5,7        
(commercial market)   Total   44,2 25,0         43,5 26,5     2  
74% attributable to Exxaro2 Inferred resources inside life-of-mine plan   2,3 1,1         5,0 3,3        
Forzando mine12 11+ Proved   37,8 20,8         11,4 7,6        
(UG) Probable   16,3 9,4         37,1 26,1        
(commercial market)   Total   54,1 30,1         48,5 33,7     12  
86,75% attributable to Exxaro2 Inferred resources inside life-of-mine plan   7,1 4,8         7,2 4,8        
Grootegeluk mine13 23+ Proved   2 633 151 1 065 73     2 534 96 1 187 77    
(OC) Probable   645 60 398 26     421 15 195 10    
(commercial market)   Total   3 278 211 1 463 99     2 954 111 1 382 88 11  
100% attributable to Exxaro2 Inferred resources inside life-of-mine plan   510           324          
Thabametsi project 28+ Proved   109,0   107,0       109,0   107,0      
(OC) (IPP market) Probable   21,0   20,0       21,0   20,0      
(commercial market)   Total   130,0   127,0       130,0   127,0   0  
100% attributable to Exxaro2 Inferred resources inside life-of-mine plan                          
Rounding figures may cause computational discrepancies
Figures are reported at 100% irrespective of percentage attributable to Exxaro and refer to 2015 only
Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt
Inferred resources inside life-of-mine plan refer to inferred resources considered for the life-of-mine plan. These resources have not been converted to reserves
Coal reserves are quoted on a run-of-mine (ROM) reserve tonnage basis which represents tonnages delivered to the plant at an applicable moisture and quality
Saleable reserve tonnage represents the product tonnes of coal available for sale on an applicable moisture basis
All changes more than 10% (significant) are explained
1 Operation refers to operating mine or significant project. Mining method: OC – open-cut, UG – underground
2 Figures are reported at 100% irrespective of percentage attributable to Exxaro and refer to 2017 only
3 Locality maps are for illustrative purposes only. Detailed maps are provided in Chapter 9
4 The + symbol is used in instances where the scheduled life-of-mine plan extends beyond the expiry of the mining right. In each instance, Exxaro has a reasonable expectation that the mining right will be renewed
5 Export refers to export thermal coal except in the case of Grootegeluk mine where export refers to semi soft coking coal, suitable for both the export and inland market
6 The percentage difference between 2017 reported ROM and 2016 reported ROM and the percentage difference between 2017 reported total saleable tonnes and 2016 reported total saleable tonnes. Brackets signify a negative
7 Life-of-mine plan (LoMP) exceeds the mining right, expiring in 2025. The change is the result of an update in the resource base
8 The movement within categories is due to the LPN LIFEX Project approval. The change within Metallurgical and Thermal coal estimates is due to a strategic market change for Leeuwpan
9 The change is primarily due to depletion at the Nooitgedacht operation. Estimates are received from Anglo American Coal Proprietary Limited and not audited by Exxaro
10 The change is the primarily the result of depletion (-3,5Mt). The life-of-mine plan was updated with the partial inclusion of Block C at the Glisa operation
11 The change are the result of depletion at both DCMW and DCME (-3,02Mt) and the scheduling of the entire S2 select (five-year LOM) at DCMW
12 The change in reserves are the result of depletion (-2,38Mt) and the revision on the LOM layout (+3,90Mt). The LoMP was extended to 2041, well beyond the expiry of the FZON and FZOS mining rights (June 2029)
13 The increase is due to an updated LoMP which incorporates a small portion of the adjacent Thabametsi mining right

Table 5: Coal reserve qualities 2017

    Thermal saleable (proved + probable)   Metallurgical saleable (proved + probable)   Coking saleable (proved + probable)  
Operation Seam/layer Tonnes   
(Mt)1
CV MJ/
kg
%
VM
%
Ash
%
S
  Tonnes   
(Mt)1
CV MJ/
kg
%
VM
%
Ash
%
S
  Tonnes   
(Mt)1
CV MJ/
kg
%
VM
%
Ash
%
S
 
Matla mine Seam 2 75,4 24,0 22,6 21,4 1,0                          
  Seam 4 155,6 19,0 20,9 30,5 0,9                          
Leeuwpan mine TC2 20,6 22,5 19,6 26,2 0,8   0,2 26,2 17,9 17,4 0,5              
  BC2 24,7 24,4 23,1 20,8 0,9   0,9 26,4 24,0 16,7 0,6              
Mafube Mine Middlings 14,5 22,0 21,7 25,0 0,6                          
  Export 27,9 26,5 26,3 13,6 0,4                          
NBC All seams 2,4 21,7 22,7 26,7 0,6                          
Belfast project Thermal 8,1 21,9 22,4 26,6 1,8                          
  Export 32,6 26,9 26,9 13,7 0,5                          
Dorstfontein complex All seams 25,0 24,9 22,9 19,6 0,6                          
Forzando mines All seams 31,6 25,4 26,6 18,8 1,0                          
Grootegeluk mine All seams 1 462,7 21,0 23,8 33,1 1,5   99,1 29,0 23,9 13,7 0,6   210,8 29,1 35,1 11,7 1,2  
Thabametsi project3 T1 64,0 12,7 20,0 53,9 1,1                          
  T2 63,0 11,3 19,0 55,7 1,0                          
VM – volatile matter, S – sulphur, CV – gross calorific value
Rounding figures may cause computational discrepancies
Saleable reserve tonnage represents the product tonnes of coal available for sale on an applicable moisture and air-dried quality basis
1 Saleable product tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt
2 TC: Top coal bc: bottom coal
3 Based on Thabametsi bench configuration as defined in phase 1 feasibility study

Table 6: Mineral sands resources reported for 2017

        2017 – tonnes and grade   2016 – tonnes and grade %
change
in
tonnes
 
Operation1 Category     Tonnes
(Mt)
%
Ilmenite
    Tonnes
(Mt)
%
Ilmenite
   
Hillendale mine Measured     12,2 2.9     12,2 2.9      
KwaZulu-Natal Indicated                      
(OC) (in closure) Inferred                      
43,51% attributable to Exxaro2 Total     12,2 2,9     12,2 2,9      
Fairbreeze mine Measured     149,7 4,06     154,6 4,23      
KwaZulu-Natal Indicated     55,7 2,56     55,7 2,56      
(OC) (mining right) Inferred     9,0 1,92     9 1,92      
43,51% attributable to Exxaro2 Total     214,4 3,58     219,3 3,71   (2)  
Block P Measured                      
KwaZulu-Natal Indicated     40,6 3,1     40,6 3,1      
(OC) (mining right) Inferred                      
43,51% attributable to Exxaro2 Total     40,6 3,1     40,6 3,1      
Port Durnford project Measured     143 3     143 3      
KwaZulu-Natal Indicated     340 2,8     340 2,8      
(OC) (prospecting) Inferred     466 2,5     466 2,5      
43,51% attributable to Exxaro2 Total     949 2,7     949 2,7      
Namakwa sands mine3 Measured     648 2,72 0,62   592 2,88 0,64    
Western Cape Indicated     369 2,27 0,52   307 2,26 0,58    
(OC) (mining right) Inferred     581 1,47 0,25   525 1,52 0,28    
43,51% attributable to Exxaro2 Total     1 598 2,16 0,46   1,424 2,24 0,49 12  
        2017 – tonnes and grade   2016 – tonnes and grade %
change
in
tonnes
 
Operation1 Category     Tonnes
(Mt)
%
total heavy
minerals
(THM)
    Tonnes
(Mt)
%
total heavy
minerals
(THM)
   
Cooljarloo mine Measured     296 1,8     313 1,8      
Western Australia Indicated     204 1,7     210 1,7      
(OC) Inferred                      
43,51% attributable to Exxaro2 Total     501 1,8     523 1,8   (4)  
Cooljarloo West project Measured                      
Western Australia Indicated     177 1,8     177 1,8      
(OC) (mining right) Inferred                      
43,51% attributable to Exxaro2 Total     177 1,8     177 1,8      
Cooljarloo North West project Measured                      
Western Australia Indicated                      
(OC) (prospecting) Inferred     141,6 2,1     141,6 2,1      
43,51% attributable to Exxaro2 Total     141,6 2,1     141,6 2,1      
Jurien project Measured     36,2 5,8     36,2 5,8      
Western Australia Indicated     5,9 3,3     5,9 3,3      
(OC) (mining right) Inferred                      
43,51% attributable to Exxaro2 Total     42,1 5,4     42,1 5,4      
Dongara project Measured     106,5 3,9     106,5 3,9      
Western Australia Indicated     17,9 4,5     17,9 4,5      
(OC) (mining right) Inferred     39,4 2,7     39,4 2,7      
43,51% attributable to Exxaro2 Total     163,9 3,7     163,9 3,7      
Mineral resources are quoted inclusive of mineral resources that have been modified to mineral reserves unless otherwise stated
Estimates as received from Tronox at 31 December 2017 and not audited by Exxaro
Rounding may cause computational discrepancies
Tonnages are quoted in metric tonnes and million tonnes abbreviated as Mt
All changes over 10% (significant) are explained
1 Operation refers to operating mine or significant project. Mining method: OC – open-cut, UG – underground
2 Figures are reported at 100% irrespective of percentage attributable to Exxaro and refer to 2017 only
3 The increase is due to the addition of environmentally sensitive zones, collectively called the Protectorate

Table 7: Mineral sands reserves reported for 2017

        2017 – ROM and grade     2016 – ROM and grade    
Operation1 Life of  
mine  
(years)3
Ccategory   ROM
(Mt)
%
THM
%
Ilmenite
%
Rutile
%
Zircon
%
Leucoxene
    ROM
(Mt)
% THM Change
in
ROM
%
 
Fairbreeze mine 12+ Proved   131,4 6,7 61,9 3,6 8,4 1,7     137,4 7,0    
KwaZulu-Natal Probable   45,3 4,6 53,2 3,2 7,3 1,8     45,3 4,6    
(OC) (mining right)   Total   176,7 6,2 60,2 3,5 8,2 1,7     182,7 6,4 (3)  
43,51% attributable to Exxaro2   Inferred resources inside LoMP                          
Namakwa sands mine 25+ Proved   194,7 8,6 35,8 2,5 9,1 5,4     214,0 8,6    
Western Cape Probable   492,2 5,5 50,2 3,0 10,9 6,9     500,6 5,6    
(OC) (mining right)   Total   686,9 6,4 44,7 2,8 10,3 6,3     714,7 6,5 (4)  
43,5% attributabe to Exarro2   Inferred resources inside LoMP                          
Cooljarloo mine 13+ Proved   294 1,8 60,5 5,2 10,2 2,4     312,9 1,8    
Western Australia Probable   20 2,1 61,6 5,1 9,3 2,6     33,9 2,0    
(OC)   Total   314 1,9 60,6 5,2 10,1 2,4     346,8 1,8 (10)  
43,51% attributable to Exxaro2   Inferred resources inside LoMP                          
Cooljarloo West project 9 Proved                          
Western Australia Probable   104,5 2,0 60,5 5,0 12,2 2,9     104,5 2,0    
(OC)   Total   104,5 2,0 60,5 5,0 12,2 2,9     104,5 2,0    
43,51% attributable to Exxaro2   Inferred resources inside LoMP                          
Dongara project 12+ Proved   61,9 5,2 48,7 6,1 10,9 2,8     61,9 5,2    
Western Australia Probable                          
(OC)   Total   61,9 5,2 48,7 6,1 10,9 2,8     61,9 5,2    
43,51% attributable to Exxaro2   Inferred resources inside LoMP                          
%THM – percent total heavy minerals
Rounding figures may cause computational discrepancies
Figures are reported at 100% irrespective of percentage attributable to other shareholders
Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt
Reserves are quoted on a run-of-mine (ROM) reserve tonnage basis which represents tonnages delivered to the plant at an applicable moisture and quality
Inferred resources in life-of-mine plan (LoMP) refer to inferred resources considered for the life-of-mine plan
Estimates as received from Tronox at 31 December 2017 and not audited by Exxaro
All changes more than 10% (significant) are explained
1 Operation refers to operating mine or significant project. Mining method: OC – open-cut, UG – underg
2 Figures are reported at 100% irrespective of percentage attributable to Exxaro and refer to 2017 only
3 The + symbol is used where the scheduled LoMP extends beyond the expiry of the mining rights

Base metals

Table 8: Base metals resources (exclusive) reported for 2017

        2017 – tonnes and grade   2016 – tonnes and grade %
change
in
tonnes
 
Operation1 Category     Tonnes
(Mt)
%
Zn
%
Pb
%
Cu
Ag
g/t
  Tonnes
(Mt)
%
Zn
%
Pb
%
Cu
Ag
g/t
 
Deeps mine3 Measured     2,9 3,6 3,9 0,4 41,5   4,3 3,1 3,4 0,3 34,8    
Northern Cape Indicated     4,1 3,0 3,0 0,5 33,9   6,9 2,5 2,8 0,5 34,9    
(UG) (zinc, lead, copper and silver) Inferred       0,0 0,0 0,0 0,0                
26% attributable to Exxaro2 Total     7,0 3,3 3,4 0,5 37,0   11,2 2,7 3,0 0,4 34,9 (38)  
Swartberg mine4 Measured     0,0 0,0 0,0 0,0 0,0                
Northern Cape Indicated     45,4 0,5 3,2 0,5 30,7   25,9 0,5 2,2 0,5 24,8    
(UG) (zinc, lead, copper and silver) Inferred     4,7 0,8 2,8 0,2 52,2   3,3 0,4 2,3 0,6 52,2    
26% attributable to Exxaro2 Total     50,1 0,6 3,2 0,5 32,8   29,2 0,5 2,3 0,5 27,9 71  
Operation1 Resource
category
    Tonnes
(Mt)
%
Zn
%
Pb
%
Mn
%
S
  Tonnes
(Mt)
%
Zn
%
Pb
%
Mn
%
S
   
Gamsberg North mine Measured     43,3 6,6 0,6 0,8 20,2   43,3 6,6 0,6 0,8 20,2    
Northern Cape Indicated     54,6 5,9 0,5 0,7 19,8   54,6 5,9 0,5 0,7 19,8    
(OC) (zinc) Inferred     32,1 5,8 0,5 0,9 17,7   32,1 5,8 0,5 0,9 17,7    
26% attributable to Exxaro2 Total     130,0 5,8 0,5 0,6 19,1   130,0 5,8 0,5 0,6 19,1 0  
Gamsberg East Measured                              
Northern Cape Indicated                              
(project) (zinc) Inferred     32,3 9,8 0,6       32,3 9,8          
26% attributable to Exxaro2 Total     32,3 9,8 0,6       32,3 9,8       0  
% Zn – percent zinc, % Cu – percent copper, % Pb – percent lead, Ag g/t – grams per tonne silver, % Mn – percent manganese, % S – percent sulphur
Rounding figures may cause computational discrepancies
Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt
Estimates as received from Vedanta Resources plc at 31 December 2017 and not audited by Exxaro
All changes more than 10% (significant) are explained
1 Operation refers to Black Mountain Mining operating mine or significant project. Mining method: OC – open-cut, UG – underg
2 Figures are reported at 100% irrespective of percentage attributable to Exxaro
3 The decrease in resources is due to revised economic assumptions, mining depletion and sterilisation of resources
4 The increase in resources is due to new drillhole information and subsequent update of the geological model

Table 9: Base metals reserves (exclusive) reported for 2017

          2017 – ROM, grade and contained metals 2016
– ROM
  %
change
in
ROM
  2016 – ROM, grade and contained metals  
Operation1 Life of
mine
(years)
Category     ROM  
(Mt)3
%
Zn
%
Pb
%
Cu
Ag
g/t
  ROM  
(Mt)3
  %
Zn
%
Pb
%
Cu
Ag
g/t
 
BMM Deeps mine3 6 Proved     1,7 2,9 3,5 0,4 42,8   1,8       3,4 4,0 0,4 42,2  
Northern Cape Probable     4,3 2,8 2,1 0,7 25,9   4,3       2,6 2,6 0,7 32,8  
(UG) (zinc, lead, copper and silver)   Total     6,1 2,9 2,5 0,6 30,8   6,1   (0)   2,8 3,0 0,6 35,5  
26% attributable to Exxarro2 Inferred resources
inside life-of-mine plan
                                 
BMM Swartberg mine3 6 Proved                                  
Northern Cape Probable     2,1 0,6 3,7 0,5 31,6   2,3       0,6 3,2 0,6 24,2  
(UG) (zinc, lead, copper and silver)   Total     2,1 0,6 3,7 0,5 31,6   2,3   (9)   0,6 3,2 0,6 24,2  
26% attributable to Exxarro2 Inferred resources
inside life-of-mine plan
                                 
            %
Zn
%
Pb
%
Mn
%
S
          %
Zn
%
Pb
%
Mn
%
S
 
Gamsberg North mine3 13 Proved     44,5 6,8 0,5 0,9 20,6   44,5       6,8 0,5 0,9 20,6  
Northern Cape Probable     8,7 6,0 0,5 1,1 17,3   8,7       6,0 0,5 1,1 17,3  
(OC) (zinc)   Total     53,2 6,6 0,5 1,0 20,0   53,2   0   6,6 0,5 0,8 20,6  
26% attributable to Exxarro2 Inferred resources
inside life-of-mine plan
    0,4           0,4                
% Zn – percent zinc, % Cu – percent copper, % Pb – percent lead, Ag g/t – grams per tonne silver, % Mn – percent manganese, % S – percent sulphur
Rounding figures may cause computational discrepancies
Figures are reported at 100% irrespective of percentage attributable to Exxaro and refer to March 2015 only
Tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt
Reserves are quoted on a run-of-mine (ROM) reserve tonnage basis which represents tonnages delivered to the plant at an applicable moisture and quality
Inferred resources in life-of-mine plan (LoMP) refer to inferred resources considered for the life-of-mine plan
Estimates as received from Vedanta Resources plc at 31 December 2016 and not audited by Exxaro
All changes more than 10% (significant) are explained
1 Operation refers to Black Mountain Mining operating mine or significant project. Mining method: OC – open-cut, UG – underground
2 Figures are reported at 100% irrespective of percentage attributable to Exxaro
3 The change in reserves is due to additional drilling and subsequent conversion of resources to reserves due to enlarged pit designs (exclusive reporting)