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Platinum
estimates as at 31 December 2009

Anglo Platinum

The Ore Reserve and Mineral Resource estimates were compiled in compliance with The South African Code for Reporting of Mineral Resources and Mineral Reserves, (The SAMREC Code, 2007). Operations and Projects outside South Africa were compiled in accordance with the Australasian Code for Reporting of Mineral Resources and Ore Reserves (The JORC Code, 2004) as a minimum standard. Details of the individual operations appear in the Anglo Platinum Annual Report Merensky and UG2 Reef Mineral Resources are reported over an economic and mineable cut appropriate to the specific reef. THE MINERAL RESOURCES ARE REPORTED AS ADDITIONAL TO ORE RESERVES.

The figures reported represent 100% of the Mineral Resources and Ore Reserves attributable to Anglo Platinum Limited unless otherwise noted. Rounding of figures may cause computational discrepancies. Anglo American plc's interest in Anglo Platinum is 79.7%.

Anglo Platinum
Ore Reserves
Tonnes(1) Grade(2) Contained metal(3) Contained metal(3)
Classification 2009 2008 2009 2008 2009 2008 2009 2008
Merensky Reef(4)(5)(6) Mt Mt   4E PGE 4E PGE   tonnes tonnes   Moz Moz
  Proved 77.5 88.6   5.41 5.28   419.7 467.4   13.5 15.0
  Probable 89.8 129.4   5.13 5.21   460.1 674.1   14.8 21.7
  Total 167.3 217.9   5.26 5.24   879.8 1,141.5   28.3 36.7
UG2 Reef(4)(5)(7) Proved 409.9 469.9   4.37 4.19   1,792.1 1,970.8   57.6 63.4
  Probable 229.3 382.6   4.38 4.43   1,003.9 1,695.8   32.3 54.5
  Total 639.2 852.5   4.37 4.30   2,796.0 3,666.6   89.9 117.9
Platreef(8) Proved 317.4 274.5   3.28 3.21   1,040.6 880.7   33.5 28.3
Proved primary ore stockpile(9) 16.6 20.6   2.65 2.58   43.8 53.1   1.4 1.7
  Probable 174.6 112.8   3.12 3.56   544.1 401.8   17.5 12.9
  Total 508.6 407.9   3.20 3.27   1,628.6 1,335.6   52.4 42.9
All Reefs Proved 821.4 853.6   4.01 3.95   3,296.3 3,372.1   106.0 108.4
  Probable 493.6 624.7   4.07 4.44   2,008.1 2,771.7   64.6 89.1
  Total 1,315.0 1,478.3   4.03 4.16   5,304.4 6,143.7   170.5 197.5
Total (alternative units)(10) 1,449.6 Mton 1,629.6 Mton   0.118 oz/ton 0.121 oz/ton            
Tailings(11) Proved - -   - -   - -   - -
  Probable 29.6 33.4   0.86 0.88   25.4 29.5   0.8 0.9
  Total 29.6 33.4   0.86 0.88   25.4 29.5   0.8 0.9
(1)
Tonnage: quoted as dry metric tonnes.
(2)
Grade: 4E PGE is the sum of platinum, palladium, rhodium and gold grades in grammes per tonne (g/t).
(3)
Contained metal: Contained metal is presented in metric tonnes and million troy ounces (Moz).
(4)
Merensky Reef and UG2 Reef: The BEE transaction announced with Anooraq Resources was finalised during 2009 resulting in a change of the attributable and reportable Ore Reserves for Bokoni Platinum Mine (previously Lebowa Platinum Mine). Anglo Platinum's attributable percentage decreased from 100% to 49%, equivalent to a decrease of 33.5Mt (-5.5 Moz).
(5)
Merensky Reef and UG2 Reef: The calculation of the pay limit has been modified between 2008 and 2009. The 2008 pay limit calculation was based on the planning pay limit. The 2009 pay limit calculation now includes 'Stay in Business Capital', both on and off mine, in the estimation of the overall costs. This cost amount is termed Cost 4 which consists of 'Direct Cash Cost' (on and off mine), 'Other indirect Costs' and 'Stay in Business Capital' (on and off mine). The Merensky Reef reserve pay-limit varies across all operations between 2.8g/t and 6.1g/t (4E PGE). The UG2 Reef reserve pay-limit varies across all operations between 2.7g/t and 5.9g/t (4E PGE). The range is a function of various factors including depth of the ore body, geological complexity, infrastructure and economic parameters. Certain areas where the pay limit is high may still be mined due to a project being in ramp-up or in the case of the Rustenburg area, where the business plan returns a positive NPV and profit from 2012.
(6)
Merensky Reef: Decrease in Ore Reserves is mainly attributable to economic assumptions. At the assumed metal prices and exchange rate the Ore Reserves at Amandelbult's Tumela Mine 3 Shaft Project proved to be uneconomic. This resulted in a decrease of 27.9Mt (-5.3Moz) of previously reported Ore Reserves. These Ore Reserves have been reallocated back to Mineral Resources.
(7)
UG2 Reef: Decrease in Ore Reserves is mainly attributable to economic assumptions. At the assumed metal prices and exchange rate the Ore Reserves at Amandelbult's Tumela Mine 3 Shaft Project, portions of Rustenburg's Khuseleka Mine, Khomanani Mine and Siphumelele Mine proved to be uneconomic. This resulted in a decrease of 159.6Mt (-21.7Moz) of previously reported Ore Reserves. These Ore Reserves have been reallocated back to Mineral Resources.
(8)
Platreef: The reserve cut-off is 1.7g/t for fresh ore. For Mogalakwena the total Ore Reserves increased significantly. At Mogalakwena North and Central (previously PPRust North) a new evaluation model was completed in 2009 together with a new structural model. Both models incorporated significant additional drill holes resulting in a revised pit design. As a consequence the total Ore Reserve tonnage for Mogalakwena Mine (inclusive of stockpiles) increased by 100.7Mt equivalent to 9.4Moz.
(9)
Platreef stockpiles: These are reported separately as Proved Ore Reserves and aggregated into the summation tabulations.
(10)
Alternative units: tonnage in million short tons (Mton) and grade in troy ounces per short ton (oz/ton).
(11)
Tailings: These are reported separately as Ore Reserves but are not aggregated in the total Ore Reserve figures. Operating tailings dams for current mining operations cannot be geologically assessed and therefore are not reported as part of the Ore Reserves. At Rustenburg Mine dormant dams have been evaluated and the tailings form part of the Ore Reserves statement.
Anglo Platinum
Mineral Resources
Tonnes(1) Grade(2) Contained metal(3) Contained metal(3)
Classification 2009 2008   2009 2008   2009 2008   2009 2008
Merensky Reef(4)(5) Mt Mt   4E PGE 4E PGE   tonnes tonnes   Moz Moz
  Measured 129.6 131.9   5.54 5.39   717.5 710.9   23.1 22.9
  Indicated 242.2 232.0   5.36 5.15   1,299.2 1,194.4   41.8 38.4
Measured and Indicated 371.8 363.9   5.42 5.24   2,016.7 1,905.3   64.8 61.3
  Inferred 670.8 749.4   5.36 5.37   3,594.3 4,026.6   115.6 129.5
UG2 Reef(4)(6)(7) Measured 380.1 323.6   5.61 5.78   2,131.1 1,868.9   68.5 60.1
  Indicated 546.6 482.5   5.53 5.63   3,021.2 2,715.2   97.1 87.3
Measured and Indicated 926.7 806.1   5.56 5.69   5,152.3 4,584.1   165.6 147.4
  Inferred 791.3 901.3   5.53 5.65   4,374.2 5,089.0   140.6 163.6
Platreef(8) Measured 192.9 152.4   1.95 1.85   376.2 282.4   12.1 9.1
  Indicated 915.0 898.8   2.14 2.18   1,954.0 1,956.8   62.8 62.9
Measured and Indicated 1,107.9 1,051.2   2.10 2.13   2,330.1 2,239.3   74.9 72.0
  Inferred 1,160.6 1,331.3   1.89 1.89   2,198.4 2,519.3   70.7 81.0
All Reefs Measured 702.6 607.8   4.59 4.71   3,224.8 2,862.3   103.7 92.0
  Indicated 1,703.9 1,613.3   3.68 3.64   6,274.3 5,866.4   201.7 188.6
Measured and Indicated 2,406.4 2,221.1   3.95 3.93   9,499.1 8,728.7   305.4 280.6
Measured and Indicated (alternative units)(9) 2,652.6 Mton 2,448.4 Mton   0.115 oz/ton 0.115 oz/ton            
  Inferred 2,622.7 2,982.0   3.88 3.90   10,167.0 11,634.9   326.9 374.1
Tailings(10) Measured - -   - -   - -   - -
  Indicated 147.3 151.4   1.06 1.05   155.6 159.7   5.0 5.1
Measured and Indicated 147.3 151.4   1.06 1.05   155.6 159.7   5.0 5.1
  Inferred - -   - -   - -   - -
Due to the uncertainty that may be attached to some Inferred Mineral Resources, it cannot be assumed that all or part of an Inferred Mineral Resource will necessarily be upgraded to an Indicated or Measured Resource after continued exploration.
(1)
Tonnage: quoted as dry metric tonnes.
(2)
Grade: 4E PGE is the sum of platinum, palladium, rhodium and gold grades in grammes per tonne (g/t).
(3)
Contained metal: Contained metal is presented in metric tonnes and million troy ounces (Moz).
(4)
Merensky Reef and UG2 Reef: The BEE transaction announced with Anooraq Resources was finalised during 2009 resulting in a change of the attributable and reportable Mineral Resources for Bokoni Mine (previously Lebowa Platinum Mine). Anglo Platinum's attributable percentage decreased from 100% to 49% equivalent to a decrease of 234.4Mt (-48.4 Moz).
The Mineral Resources are quoted over a practical minimum mining cut suitable for the deposit known as the Resource Cut. The Resource Cut includes geotechnical aspects in the hanging wall or footwall of the reef. Chromitite stringers above or below the UG2 main seam or any 'geotechnical weak zones' are included in the Resource Cut. The minimum beam height regarding the geotechnical aspect depends on the mining method. Anglo Platinum takes cognisance of cut-off grades (derived from information on pay limits in the mining operations) and of 'reasonable and realistic prospects for eventual economic extraction' over a period of 30 to 50 years. No Mineral Resources are excluded from the 2009 declaration relative to 2008 as a result of the cut-off grade consideration.
(5)
Merensky Reef: Depending on the reef characteristics a 3.5g/t to 4.8g/t (4E PGE) cut-off has been used to define Mineral Resources.
(6)
UG2 Reef: Depending on the reef characteristics a 2.8g/t to 4.4g/t (4E PGE) cut-off has been used to define Mineral Resources.
(7)
UG2 Reef: a) The decrease in Mineral Resources is mainly attributable to the decrease of the attributable percentage due to the finalisation of the BEE transaction with Anooraq Resources. b) The decrease is off-set by an increase of Mineral Resources due to economic assumptions. At the assumed metal prices and exchange rate the Ore Reserves at Amandelbult's Tumela Mine 3 Shaft Project, portions of Rustenburg's Khuseleka Mine, Khomanani Mine and Siphumelele Mine proved to be uneconomic and are re-allocated back to Mineral Resources. This resulted in an increase of the Mineral Resources by 143.4Mt (+25.2Moz). c) Additionally new information at Der Brochen project resulted in an increase of the Mineral Resources by 72.9Mt, equivalent to 7.2Moz.
(8)
Platreef: A 1.0g/t (4E PGE) cut-off has been used to define Mineral Resources. During 2009 for Mogalakwena North and Central (previously PPRust North) a new evaluation model was completed together with a new structural model. This resulted in a revised pit design and a consequent significant increase in reported Ore Reserves. As a consequence, the remaining Mineral Resources for Mogalakwena decreased significantly by 113.9Mt (-7.4Moz).
(9)
Alternative units: tonnage in million short tons (Mton) and grade in troy ounces per short ton (oz/ton).
(10)
Tailings: Operating tailings dams for current mining operations cannot be geologically assessed and therefore are not reported as part of the Mineral Resources. At Rustenburg and Union Mine dormant dams have been evaluated and the tailings form part of the Mineral Resource statement. Tailings dams resources are reported separately as Mineral Resources but are not aggregated to the global Mineral Resource summation.

The following Operations and Projects contributed to the combined 2009 Ore Reserve and Mineral Resource estimates stated per reef (excluding Other Projects):
(MR = Merensky Reef, UG2 = UG2 Reef, PR = Platreef, % = Anglo Platinum Limited attributable interest)

Bafokeng Rasimone Platinum Mine - MR/UG2 50%
Bathopele Mine - UG2 100% (previously part of Rustenburg Mine)
Bokoni Platinum Mine - MR/UG2 49% (previously Lebowa Platinum Mine)
Der Brochen Project - MR/UG2 100%
Dishaba Mine - MR/UG2 100% (previously part of Amandelbult Mine)
Ga-Phasha PGM Project - MR/UG2 49%
Khomanani Mine - MR/UG2 100% (previously part of Rustenburg Mine)
Khuseleka Mine - MR/UG2 100% (previously part of Rustenburg Mine)
Kroondal Platinum Mine - UG2 50%
Magazynskraal 3 JQ* - MR/UG2 74%
Marikana Platinum Mine - UG2 50%
Modikwa Platinum Mine - MR/UG2 50%
Mogalakwena Mine - PR 100%
Mototolo Platinum Mine - UG2 50%
Other Exploration Projects (portions of Driekop) - UG2 50%
Pandora - UG2 42.5%
Rustenburg - Non Mine Projects - MR/UG2 100% (previously part of Rustenburg Mine)
Siphumelele Mine - MR/UG2 100% (previously part of Rustenburg Mine)
Thembelani Mine - MR/UG2 100% (previously part of Rustenburg Mine)
Tumela Mine - MR/UG2 100% (previously part of Amandelbult Mine)
Twickenham Platinum Mine - MR/UG2 100%
Union Mine - MR/UG2 85%
WBJV - MR/UG2 37%

*Magazynskraal 3 JQ - Anglo platinum's attributable interest in the joint venture is reflected as 74%. Subsequent to Mineral Resource compilation this interest has moved to 20%. The revised attributable portion will be reflected in future Mineral Resource statements.

The external Ore Reserve and Mineral Resource audits have been rescheduled to take place in 2010.

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Annual Report 2009