A geologist reviews drill cores on site at the new Kolomela Mine near Postmasburg.

This section is in essence a summary of Kumba’s mineral resource and ore reserve status, in terms of quantity and quality, remaining after 31 December 2010. It has been derived from a comprehensive ore reserve and mineral resource statement that Kumba Iron Ore prepares annually.

The company statement, in turn, is a consolidation of the detailed estimations and subsequent competent person reporting conducted by each relevant Kumba site for 2010, with all the relevant reporting done by in-house professional geologists and mining engineers. The various mining operation and project competent person reports have been compiled to comply with the 2007 SAMREC Code.

It will always be the intent of Kumba to maintain strict adherence to the SAMREC Code as prescribed by section 12 of the JSE Limited Listings Requirements, being a listed mineral company, when reporting on its remaining mineral resources and ore reserves.

Not only is the reporting code considered through the internalisation thereof, as governed by a company policy (www.angloamericankumba.com/ sd_policies.php) and the use of reporting templates (derived from the 2007 SAMREC Code checklist table and the relevant Anglo American plc Group technical standard), but also through the continuous refinement of mineral resource and ore reserve estimation governance and execution processes.

In 2010 Kumba’s Executive Committee identified the mineral resource estimation and LOM estimation processes as critical to the company’s success and sanctioned the development of standardised responsibilities and accountabilities across the company. These have been established and will be further refined in 2011.

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