Anglo American announcement re: Minas-Rio

RNS Number : 9403X

Anglo American PLC

15 February 2013

 



15 February 2013
Anglo American announces a 1.45 billion tonne Ore Reserve for Minas-Rio

Anglo American announces a Probable Ore Reserve totalling 1.45 billion Run of Mine (ROM) tonnes for the Serra do Sapo area of the Minas-Rio project in Brazil, equivalent to 685 Million tonnes of saleable product at an average grade of 67.5% Fe (iron) content.

This sizeable conversion from Mineral Resource to Ore Reserve follows Anglo American's December 2011 declaration of a Mineral Resource totalling 5.77 billion tonnes for the entire Minas-Rio project, representing a more than four-fold increase in resources since acquisition.

The 2011 and 2012 Mineral Resource Statements for the entire Minas-Rio project (Serra do Sapo and Itapanhoacanga) are tabulated below, along with the 2012 Ore Reserve statement for Serra do Sapo.

Anglo American will continue to upgrade the confidence in the Compact Itabirite Indicated Mineral Resource through further drilling and will work to increase the Ore Reserves through conversion of these resources. Execution of this project remains subject to the normal regulatory processes of the Brazilian authorities.

Exclusive Mineral Resources	2012	2011	2012	2011
Friable Itabirite	Mt	Mt	Fe %	Fe %
Measured	181	586	33.21	35.65
Indicated	359	1498	36.28	38.93
Inferred*	286	240	38.26	38.00
Compact Itabirite	Mt	Mt	Fe %	Fe %
Measured	583	576	31.11	31.03
Indicated	2325	2350	31.22	31.22
Inferred*	534	521	31.47	31.27
Total*	4268	5771	32.22	33.94
Ore Reserves	2012 (ROM)	2012 (Saleable)	2012 (ROM)	2012 (Saleable)
Friable Itabirite	Mt	Mt	Fe %	Fe %
Proved	0	0	0	0
Probable	1453	685	38.76	67.5
Total	1453	685	38.76	67.5

*While it would be reasonable to expect the majority of the Inferred Mineral Resource would upgrade to Indicated Mineral Resource with continued exploration, due to the uncertainty of Inferred Mineral Resources, it should not be assumed that such upgrading will always occur.

These resource and reserve estimates have been prepared in accordance with the requirements set out in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) 2004 Edition and resources are reported on an exclusive basis.

The 2012 Ore Reserve statement and summary Mineral Resource statement reproduced here are valid as of 31 December 2012 and are detailed in the 2012 Annual Report of Anglo American plc.

The statement that relates to Ore Reserves is based on information compiled by Mr Bruno Pachione Sampaio Pelli, who is a member of the South African Institute of Mining and Metallurgy. Mr Pelli is a full-time employee of Anglo American Iron Ore Brazil and has experience which is relevant to the style of mineralisation under consideration and qualifies as a competent person as defined in JORC 2004. Mr Pelli consents to the context and format of this press statement.

The statement that relates to the Mineral Resources is based on information compiled by Dr Fernando Rosa Guimarães, who is a member of the Australasian Institute of Mining and Metallurgy. Dr Guimarães is a full-time employee of Anglo American Iron Ore Brazil and has experience which is relevant to the style of mineralisation under consideration and qualifies as a competent person as defined in JORC 2004. Dr Guimarães consents to the context and format of this press statement.

For further information, please contact:

Media		Investors
UK James Wyatt-Tilby Tel: [phone]		UK Leng Lau Tel: [phone]
Emily Blyth Tel: [phone]		Caroline Crampton Tel: [phone]
South Africa Pranill Ramchander Tel: [phone]		Sarah McNally Tel: [phone]

Notes to editors:

Anglo American is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American's portfolio of mining businesses spans bulk commodities - iron ore and manganese, metallurgical coal and thermal coal; base metals - copper and nickel; and precious metals and minerals - in which it is a global leader in both platinum and diamonds.  Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company's mining operations, extensive pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe.

www.angloamerican.com

 

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