Fact Sheet Mimosa Mimosa is wholly owned by Mimosa by kbrillhart

VIEWS: 11 PAGES: 8

									Fact Sheet
    Mimosa
    Mimosa is wholly owned by
    Mimosa Investments Limited, a                N      ZAMBIA
                                                                                     Musengezi
                                                                                     Complex
    Mauritius-based company jointly
    held by Implats and Aquarius                                                 Harare
                                                                                                 Hartley
    Platinum Limited (Aquarius) in a                                                            Complex
                                                              ZIMBABWE
    50:50 joint-venture. It is located on                                    Great Dyke
    the Wedza Geological Complex on
                                                                                          Selukwe
    the Zimbabwean Great Dyke east of                            Bulawayo                 Complex

                                                                            Mimosa
    Bulawayo. In FY2008 the operation                                                 Wedza
                                                                                      Complex
                                                     BOTSWANA
    produced 76,600 ounces of platinum
    in concentrate. The operation
    comprises a shallow underground                                    SOUTH AFRICA

    mine, accessed by a decline shaft,
    and a concentrator.



    HISTORY

    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 by 1998. In July 2001, Implats acquired a 35% stake in Mimosa for
    a consideration of 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.




2
   GEOLOGY

Although platinum was first discovered in   The stratigraphy is broadly divided
the Great Dyke in 1918, its exploration     between a lower ultramafic and an
was overshadowed by that of the             overlying mafic sequence. The ultramafic
Bushveld Complex in South Africa.           sequence hosts the P1 pyroxenite, directly
Focus has returned to the Great Dyke        below the mafic-ultramafic contact, which
in recent years, following the increase     in turn hosts the economic PGM-bearing
in demand for platinum and given that       Main Sulfphide Zone (MSZ). The MSZ
much of the shallow mineral resources in    is a continuous layer between 2 and 10
the Bushveld Complex are spoken for.        metres thick that forms an elongated basin.
                                            Optimal mineralisation varies and, in
The Great Dyke is a layered complex         contrast to the Bushveld Complex, is often
similar to that of the Bushveld Complex.    difficult to follow visually. Peak values for
It extends for 550km and has a              the PGM and base metals are commonly
maximum width of 11km. Within the           offset, while the proportions between
Great Dyke four geological complexes        platinum and palladium also vary vertically.
are known to contain PGM and base
metal deposits. These are the Wedza         The Mimosa lease encompasses four
Complex (Mimosa – Aquarius and              areas namely North Hill, South Hill,
Implats), Selukwe Complex                   Mtshingwe Block and Far South Hill.
(Unki – Anglo Platinum), the Hartley        These areas covering some 6,590
Geological Complex (Hartley and             hectares, are separated by major faults.
Ngezi Platinum Mines - Zimplats) and        Unlike much of the Great Dyke, Mimosa
the Musengezi Complex. The Hartley          has a well-defined grade profile with an
Geological complex is the largest of        identifiable reef horizon marker facilitating
the PGM bearing complexes containing        grade control.
80% of the known PGM resources in
Zimbabwe.




                                                                                            3
        GEOLOGY                    (Continued)




     MINERAL RESOURCES (INCLUSIVE REPORTING) AS AT 30 JUNE 2008
     Orebody       Category               Tonnes        Grade (g/t)    Grade (g/t)      Ni      Cu     Pt oz
                                         (millions)     3 PGE + Au     5 PGE + Au       %       %    (millions)
     South Hill    measured               43.1           4.01           4.27         0.14    0.11     2.7

                   indicated              26.9           3.54           3.78         0.14    0.12     1.5

                   inferred               15.0           3.85           4.09         0.13    0.12     0.9

                   inferred (oxides)       6.6           3.70           3.95         0.13    0.12     0.4
     Total                                91.6           3.82            4.07        0.14    0.12     5.5

     ORE RESERVES AS AT 30 JUNE 2008
     Orebody           Category         Mill Tonnes     Grade (g/t)    Grade (g/t)      Ni      Cu     Pt oz
                                         (millions)     3 PGE + Au     5 PGE + Au       %       %    (millions)
     South Hill        proved             18.4           3.61           3.86         0.14    0.12     1.1

                       probable           16.9           3.33           3.55         0.15    0.12     0.9
     Total                                35.4           3.48           3.71         0.15    0.12     1.9

     MINERAL RESOURCES AS AT 30 JUNE 2008
     Orebody          Category            Tonnes        Grade (g/t)    Grade (g/t)      Ni      Cu     Pt oz
                                         (millions)     3 PGE + Au     5 PGE + Au       %       %    (millions)
     North Hill       inferred            48.7           3.64           3.90         0.14    0.11    2.8

    * 2008 data at 2.0m cut




                                                      Mimosa MSZ Metal Splits
                                                            5PGM+Au




                                                        Pt 45.7%      Au 7.4%
                                                        Pd 36.3%      lr 2.5%
                                                        Rh 4.1%       Ru 4.0%




4
   MINING

The orebody is extremely shallow and mining commences at a depth of 60 metres below
surface and currently extends to a depth of approximately 200 metres. The bord and pillar
mining method is employed and stoping widths average around 1.9 metres. The mining
method has been changed from a combination of semi-mechanised and mechanised sections
to a fully mechanised operation. During FY2008 underground production increased by 6% as
a result of increased mechanisation.


                                       METAL DISTRIBUTION ACROSS THE MSZ
                                                   PGMs ppm

                               0   1           2          3              4                 5            6




                                                                                                     Hanging Wall
                                                                                               (1.9m average)
         Down the hole depth




                                                                                                Mining Width
                                                                                                      Foot Wall




                                                                         Platinum
                                                                         Palladium
                                                                         Nickel
                                                                         Copper




                               0       0.1         0.2             0.3               0.4             0.5
                                                                                                                    5
                                                   % BASE METALS
    METALLURGY

    Mimosa has a concentrator on site, where initial processing is done. Currently, the
    concentrator is operating at a recovery rate of 75.8%. Concentrate is transported by road to
    Impala Platinum’s Mineral Processes in Rustenburg in terms of a life-of-mine offtake agreement
    with Impala Refining Services (IRS).


    INDIGENISATION

    Zimbabwe passed a bill covering local ownership of foreign-owned firms at the end of
    September 2007. The indigenisation levels required are set at 51%. The business is
    currently reviewing options in this regard.


    SUSTAINABLE DEVELOPMENT

    Mimosa is committed to social development initiatives
    and engages in, develops and builds community
    relationships. It takes responsibility for economic,
    social and environmental issues that impact its people,
    communities and environments and is involved in a
    number of community projects in the area.




6
         MIMOSA – KEY STATISTICS


MIMOSA KEY STATISTICS                             FY2008   FY2007   FY2006   FY2005   FY2004

Production

Tonnes milled                          (000 t)    1,732    1,692    1,532    1,424    1,334

Headgrade (3E + Au)                     (g/t)      3.57     3.66     3.72     3.69     3.73

Platinum in concentrate                (000 oz)    76.6     78.2     72.2     66.7     61.4

PGM in concentrate                     (000 oz)   158.9    163.3    150.5    137.8    126.1

Mining cost of sales

Mining                                   (Rm)      367      285      269      278      209

Concentrating                            (Rm)      104      79       63       67       42

Total Cost

per tonne milled                         (R/t)     311      250      242      256      193

                                        ($/t)      43       35       38       41       28

per platinum ounce in concentrate       (R/oz)    7,023    5,409    5,133    5,472    4,199

                                       ($/oz)      967      752      803      884      609

Financial Ratios

Gross margin                             (%)       69.0     69.0     52.5     29.9     51.3

Capital expenditure                      (Rm)      289      113      208      88       81

                                        ($m)       33       16       33       14       14

Safety

LTIFR (per million man hours worked)               0.88     1.74     1.40     1.40     2.61

FIFR (per million man hours worked)                0.13     0.48      -        -       0.16

Labour complement

(including contractors)                           1,796    1,630    1,630    1,620    1,507




                                                                                               7
    CONTACT DETAILS




    For further information visit www.implats.co.za


    Group Executive: Corporate Relations
    Bob Gilmour
    Tel: +27 (11) 731 9013
    E-mail: bob.gilmour@implats.co.za



    Group Investor Relations Officer
    Alice Lourens
    Tel: +27 (11) 731 9033
    E-mail: alice.lourens@implats.co.za



    HEAD OFFICE
    2 Fricker Road, Illovo, 2196
    Private Bag X18, Northlands, 2116
    Tel: +27 (11) 731 9000
    Fax: +27 (11) 731 9254
    E-mail: investor@implats.co.za




8   January 2009

								
To top