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Key attributable FY2011 data:

location:

Wedza Geological Complex on the southern portion of the Great Dyke in Zimbabwe

comprises:

Shallow underground mine accessed by decline shaft and a surface concentrator plant

ownership/management:

Managed by Mimosa Investments Limited, which is jointly controlled by Aquarius and Impala Platinum Holdings Limited (Implats) on a 50:50 basis

safety:

Despite improved safety performance during the year, a single fatality occurred at Mimosa in September 2010 as a result of a drilling accident. By year-end, Mimosa had achieved more than 1 million fatality-free shifts and nine months without a lost time injury

resources and reserves

As at end June 2011, total attributable mineral resources of 9.42 million 4E ounces after application of geological losses. Total attributable mineral reserves of 1.75 million 4E ounces

refining:

Offtake agreement with Centametal AG of Switzerland in terms of which concentrate produced is delivered to Impala Refining Services in South Africa for processing and refining

number of employees:

As at end June 2011, 1,796 employees including 229 contractors

about mimosa

Aquarius’ 50% interest in Mimosa provides the company with a prime, long-life asset and a foothold on the Great Dyke in Zimbabwe, one of the world’s largest known primary PGM reserves. The mine, the lowest cost operation in the Aquarius stable, is a relatively shallow underground operation, approximately 200m deep. Mimosa has a well defined grade profile with an identifiable reef horizon marker that facilitates grade control. The operation fits well within the Aquarius portfolio as it is similar in many ways to the company's Kroondal mine in South Africa. As at Kroondal, the bord and pillar mining method is employed. Stoping widths average around 2.0 metres and simple, mechanised mining is the norm. The mining operation, including the use of drill rigs, is completely mechanised.

The surface concentrator plant has a monthly processing capacity of 185,000 tonnes. Concentrate produced is transported by road to Implats’ Mineral Processes in Rustenburg in terms of an offtake agreement with IRS.

geology

Mimosa is an elongated north-northeast-trending intrusion that is 550km long and between 4km and 11km wide. Economic PGE-mineralisation occurs with the Main Sulphide Zone (MSZ) which is lithologically continuous, generally 10m to 50m from the top of the ultramafic sequence and typically 2m to 3m thick.

production

Mimosa achieved record production in FY2011, as a result of improved volumes mined, higher head grade and better rates of recovery. Much of the improved mining performance was a result of the optimisation of Wedza phase 5.5, which included a revised blasting pattern, an emphasis on retraining the workforce on processes and procedures, and management commitment and motivation at Mimosa.

Despite these successes, deteriorating ground conditions proved to be a challenge during the year. To address this, support and safety systems were upgraded. Panel widths were reduced from 15m to 6m and mechanised roof bolters have been introduced to allow for the installation of deep anchored bolts and cables.

As part of the optimisation programme, management has begun a review of the maintenance and use of underground mining equipment. Positive results for the trial of a larger load haul dumper (LHD) indicate that the size of the LHD fleet could be reduced by a third which would contribute significantly to reduced costs in the future.

The performance of the plant exceeded expectations in FY2011, a consequence of plant optimisation and improvement initiatives implemented during the year which bore fruit in the second half of the year in particular. The stockpile remained stable during the course of the year.

The supply of power was relatively stable in FY2011 compared with previous years. Meetings are held quarterly with the national power entity, ZESA, to discuss potential outages so as to facilitate planning and to improve the reliability of the power supply.

key statistics - as at 30 June 2011

mineral resources and mineral reserves - as at 30 June 2011

The Mineral Resources and Mineral Reserves have been confirmed in accordance with the South African Code for Reporting of Mineral Resources and Mineral Reserves (SAMREC 2007) and its equivalent, the Australian Code for Reporting of Mineral Resources and Ore Reserves (JORC 2004).