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KUMBA IRON ORE - Annual Report 2007
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Review of mineral resources and ore reserves

Kumba’s mineral resources including ore reserves

          2007  
      %     Grade (% Fe)
Commodity   Operation/Project attributable Resource category Tonnes (Mt)    
      to Kumba     Average Cut-off
    Sishen Mine   Measured 919.8 60.5 40
    – mineral resources within approved   Indicated 187.2 59.0 40
       pit layouts   Inferred 9.9 59.2 40
        SUBTOTAL 1,116.9 60.2 40
    Sishen Mine   Measured 617.8 55.2 40
    – mineral resources outside pits   Indicated 588.5 58.6 40
        Inferred 109.7 61.0 40
        SUBTOTAL 1,316.0 57.2 40
    Sishen Mine4   Measured 1,537.6 58.3 40
    – total mineral resources 58.2 Indicated 775.6 58.7 40
        Inferred 119.6 60.8 40
        TOTAL 2,432.8 58.6 40
    Thabazimbi Mine   Measured 10.7 61.8 55
    – mineral resources outside pits   Indicated 2.2 62.4 55
        Inferred 0.4 61.6 55
        SUBTOTAL 13.2 61.9 55
    Thabazimbi Mine5   Measured 18.1 62.4 55
    – mineral resources outside pits   Indicated 4.9 63.4 55
        Inferred 2.7 63.4 55
        SUBTOTAL 25.7 62.7 55
    Thabazimbi Mine   Measured 28.8 62.2 55
    – total mineral resources 74.0 Indicated 7.1 63.1 55
        Inferred 3.0 63.2 55
        TOTAL 38.9 62.4 55
    Kumba - mining operations   Measured 1,566.4 58.4  
    – total mineral resources   Indicated 782.7 58.8  
        Inferred 122.6 60.9  
        GRAND TOTAL 2,471.7 58.6  
Iron ore   Sishen South   Measured 114.9 66.1 50
    – mineral resources within approved   Indicated 69.9 65.6 50
       pit layouts   Inferred 2.2 64.8 50
        SUBTOTAL 187.0 65.9 50
    Sishen South   Measured 31.3 65.6 50
    – mineral resources outside pits   Indicated 55.6 64.3 50
        Inferred 10.1 63.4 50
        SUBTOTAL 96.9 64.6 50
    Sishen South6   Measured 146.1 66.0 50
    – total mineral resources 74.0 Indicated 125.5 65.0 50
        Inferred 12.3 63.6 50
        TOTAL 283.9 65.5 50
    Kumba - advanced projects   Measured 146.1 66.0 50
    – total mineral resources   Indicated 125.5 65.0 50
        Inferred 12.3 63.6 50
        GRAND TOTAL 283.9 65.5 50
    Zandrivierspoort   Measured 0.0 0.0 Variable
    – mineral resources outside pits 37.0 Indicated 447.0 34.9 Variable
        Inferred 0.0 0.0 Variable
        TOTAL 447.0 34.9 Variable
    Kumba Iron Ore – projects   Measured 0.0 0.0 Variable
    – total mineral resources   Indicated 447.0 34.9 Variable
        Inferred 0.0 0.0 Variable
        GRAND TOTAL 447.0 34.9 Variable
    Kumba   Measured 1,712.6 59.0  
    – total mineral resources   Indicated 1,355.2 51.5  
        Inferred 134.9 61.1  
        GRAND TOTAL 3,202.7 55.9  

Kumba’s mineral resources including ore reserves

Table continues below

          2006      
            Grade (% Fe) %change
  Commodity   Operation/Project Resource category Tonnes (Mt)      
            Average Cut-off  
      Sishen Mine Measured 987.5 58.8 Variable -6.9
      – mineral resources within approved Indicated 181.3 57.7 Variable 3.2
         pit layouts Inferred 16.8 57.8 Variable -41.1
        SUBTOTAL 1,185.6 58.7 Variable -5.8
      Sishen Mine Measured 524.8 55.3 Variable 17.7
      – mineral resources outside pits Indicated 506.8 59.9 Variable 16.1
        Inferred 234.7 63.9 Variable -53.3
        SUBTOTAL 1,266.4 58.7 Variable 3.9
      Sishen Mine4 Measured 1,512.4 57.6 Variable 1.7
      – total mineral resources Indicated 688.1 59.3 Variable 12.7
        Inferred 251.5 63.5 Variable -52.5
        TOTAL 2,452.0 58.7 Variable -0.8
      Thabazimbi Mine Measured 8.5 62.1 55 26.5
      – mineral resources outside pits Indicated 2.9 61.4 55 -24.5
        Inferred 4.1 61.7 55 -91.5
        SUBTOTAL 15.5 61.9 55 -14.5
      Thabazimbi Mine5 Measured 12.4 62.2 55 46.1
      – mineral resources outside pits Indicated 14.1 61.8 55 -65.1
        Inferred 16.9 60.6 55 -84.2
        SUBTOTAL 43.4 61.4 55 -40.8
      Thabazimbi Mine Measured 20.9 62.1 55 38.1
      – total mineral resources Indicated 17.0 61.7 55 -58.3
        Inferred 21.0 60.8 55 -85.6
        TOTAL 58.9 61.5 55 -33.9
      Kumba - mining operations Measured 1,533.2 57.7   2.2
      – total mineral resources Indicated 705.1 59.2   11.0
        Inferred 272.5 63.3   -55.0
        GRAND TOTAL 2,510.9 58.8   -1.6
  Iron ore   Sishen South Measured 121.5 65.7 60 -5.4
      – mineral resources within approved Indicated 61.3 65.2 60 14.0
         pit layouts Inferred 13.7 64.7 60 -84.0
        SUBTOTAL 196.5 65.5 60 -4.8
      Sishen South Measured 34.9 64.6 60 -10.3
      – mineral resources outside pits Indicated 88.2 64.5 60 -37.0
        Inferred 53.1 62.4 60 -81.0
        SUBTOTAL 176.1 63.9 60 -45.0
      Sishen South6 Measured 156.3 65.4 60 -6.5
      – total mineral resources Indicated 149.6 64.8 60 -16.1
        Inferred 66.7 62.9 60 -81.6
        TOTAL 372.6 64.7 60 -23.8
      Kumba - advanced projects Measured 156.3 65.4 60 -6.5
      – total mineral resources Indicated 149.6 64.8 60 -16.1
        Inferred 66.7 62.9 60 -81.6
        GRAND TOTAL 372.6 64.7 60 -23.8
      Zandrivierspoort Measured 0.0 0.0 Variable 0.0
      – mineral resources outside pits Indicated 447.0 34.9 Variable 0.0
        Inferred 0.0 0.0 Variable 0.0
        TOTAL 447.0 34.9 Variable 0.0
      Kumba Iron Ore – projects Measured 0.0 0.0 Variable 0.0
      – total mineral resources Indicated 447.0 34.9 Variable 0.0
        Inferred 0.0 0.0 Variable 0.0
        GRAND TOTAL 447.0 34.9 Variable 0.0
      Kumba Measured 1,689.6 58.4   1.4
      – total mineral resources Indicated 1,301.7 51.6   4.1
        Inferred 339.3 63.2   -60.2
        GRAND TOTAL 3,330.5 56.2   -3.8

The tonnages are quoted in metric tonnes and million tonnes is abbreviated as Mt.

Rounding of figures may cause computational discrepancies.

Figures reported at 100% irrespective of percentage attributable to Kumba.

4. The overall 19.2Mt decrease in the Sishen Mine mineral resource is the combined effect of the application of an optimistic pit shell an economic boundary defining eventual economic     extraction derived by the application of double the forward-looking price.

5. The application of the optimistic pit shell concept is the primary contributing factor for the 20Mt decrease in mineral resources at Thabazimbi Mine.

6. The application of the optimistic pit shell accounts for most of the 88.7Mt decrease in mineral resources at the Sishen South. A revision of the geological models to incorporate the most     recent structural interpretation resulted in spatial change.
 
 
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