World Leader in Platinum Facility Visit March 2003

ANGLO AMERICANPLATINUM CORPORATION

Eastern Limb Facility Visit2003

5 March 2003

A member of the Anglo American plc group

World Leader in Platinum Facility Visit March 2003

EASTERN LIMBIN CONTEXT

Chris SheppardDivisional Director : East Mines

A member of the Anglo American plc group

World Leader in Platinum Facility Visit March 2003

AGENDA

The Eastern LimbKey issuesOperations : PPLOperations : LebowaExpansion issuesConclusion

World Leader in Platinum Facility Visit March 2003

EASTERN LIMB OF THE BUSHVELD COMPLEX

N

TWICKENHAMLEBOWA

Modikwa

Lydenburg

Mogalakwena

WitbankPRETORIA

Burgersfort

Der Brochen

Steelpoort

Polokwane MIDDELPUNT HILL

PP RUST

World Leader in Platinum Facility Visit March 2003

EASTERN LIMB EXPANSION :KEY ISSUES

Maintain efficient steady state production at existing operationsDesign, construct, commission and optimise new projectsDevelop and retain appropriate skillsEstablish and nurture successful Joint VenturesFacilitate broad based HDSA empowermentIntegrate operations with communities and achieve sustainable community upliftment

World Leader in Platinum Facility Visit March 2003

EASTERN LIMB EXPANSION :ANGLO PLATINUM APPROACH

Holistic approach

Appropriate skills

Knowledge sharing and continuous business improvement

Relationship building

World Leader in Platinum Facility Visit March 2003

EASTERN LIMB EXPANSION :MAGNITUDE

Existing operations Refined Pt Oz 2002- PP Rust 165 000- Lebowa 102 000

Announced projects- Modikwa JV 162 000- Polokwane Smelter- Twickenham Project 160 000- Total announced 589 000 (16% of 3,5m Oz)

Projects in progress- Der Brochen EASTERN LIMB: A LARGE CONTRIBUTOR- Booysensdal JV- Paschaskraal JV

World Leader in Platinum Facility Visit March 2003

OPERATIONSPOTGIETERSRUST PLATINUM MINE

2001 : 4.27 million tons milled211 000 ozs refined Pt

2002 : 4.37 million tons milled165 000 ozs refined Pt

Limited flexibility due to Ga–Pila constraints- South pit low grade intrusion- Extensive drilling programme- Accelerated access to mini pit- Lower grades at increased throughput- Containment of unit costs / tons mined

Ga-Pila relocation successful

World Leader in Platinum Facility Visit March 2003

POTGIETERSRUST PLATINUM MINE

POTGIETERSRUSTPLATINUMS LIMITED

PLATREEFOUTCROP

OVERYSEL 815 LR

ZWARTFONTEIN 818 LR

VAALKOP 819 LR

SANDSLOOT 236 KR

TWEEFONTEIN 238 KR

KNAPDAAR 234 KR

RIETFONTEIN 240 KR

0 52.5

Kilometres

_̂

_̂

Sandsloot Pit

Mini Pit

N

World Leader in Platinum Facility Visit March 2003

OPERATIONSLEBOWA PLATINUM MINE

2001 : 1.40 million tons milled89 000 ozs refined Pt

2002 : 1.55 million tons milled102 000 ozs refined Pt

Upgraded plant operating to planImproved ore reserve positionSignificant improvement in outputs and profitability

World Leader in Platinum Facility Visit March 2003

LEBOWA PLATINUM MINE

UG2 Merensky

LEBOWAPLATINUM MINE

DIAMAND 422 KS

ZEEKOEGAT 421 KS

MIDDELPUNT 420 KS

UMKOANESSTAD 419 KS

BRAKFONTEIN 464 KS

0 52.5

Kilometres

_̂_̂Middelpunt Adits

Vertical Shaft

_̂_̂UM Inclines

N

World Leader in Platinum Facility Visit March 2003

BACKGROUND TO LPM

History- 1968 – ATOK- 1977 – JCI

Challenges- Ageing infrastructure- Potholing common

Mining methods- Merensky : Conventional- UG2 : Hybrid

World Leader in Platinum Facility Visit March 2003

THE LPM TURNAROUNDA totally new management team was appointed during 2001Developing a winning culture amongst employeesStrict cost management was non-negotiable but delegated to the point of controlThe attraction and retention of skilled people was targetedThe mining optimisation initiative focused on team development and mining process de-bottleneckingThe recognition and reward scheme was revised to “change behaviour” at LPMEffective and efficient communication from “top to bottom”and from “bottom up-wards” was implementedAll contractors on the mine were converted to an output-based payment method

World Leader in Platinum Facility Visit March 2003

LEBOWA PLATINUM MINEAnnual Lost Time Injuries Frequency Rate

0.0

0.2

0.4

0.6

0.8

1.0

1.2

2001 2002

World Leader in Platinum Facility Visit March 2003

LEBOWA PLATINUM MINEAnnual Stoping ( m2 )

200000

250000

300000

350000

400000

450000

500000

1998 1999 2000 2001 2002

World Leader in Platinum Facility Visit March 2003

LEBOWA PLATINUM MINEAnnual Tons Milled (kt)

600700800900

1000110012001300140015001600

1998 1999 2000 2001 2002

World Leader in Platinum Facility Visit March 2003

LEBOWA PLATINUM MINEHead Grade (g/t)

4

4.1

4.2

4.3

4.4

4.5

4.6

4.7

1998 1999 2000 2001 2002

World Leader in Platinum Facility Visit March 2003

LEBOWA PLATINUM MINEAnnual Platinum Ounces Produced

6000065000700007500080000850009000095000

100000105000110000

1998 1999 2000 2001 2002

World Leader in Platinum Facility Visit March 2003

LEBOWA PLATINUM MINEAnnual Cost ( R/Pt Ounce )

2000

2500

3000

3500

4000

4500

5000

1998 1999 2000 2001 2002

World Leader in Platinum Facility Visit March 2003

LEBOWA PLATINUM MINEAnnual Profit (Rm)

-500

50100150200250300350

1998 1999 2000 2001 2002

World Leader in Platinum Facility Visit March 2003

LEBOWA PLATINUM MINEProductivity m2/stoping employee

2022242628303234363840

1998 1999 2000 2001 2002

World Leader in Platinum Facility Visit March 2003

THE LPM FUTURE

Significant ore reserves available on Merensky and UG2 horizonsMining authorisation exists for all farms within lease areaFeasibility studies are currently in place to evaluate various options to either sustain or expand the current operationsLPM has developed a reputation for DELIVERY

World Leader in Platinum Facility Visit March 2003

EASTERN LIMB EXPANSION ISSUES

Regional infrastructure co-ordinationIntegrated development planningHousingMedium to long term water requirementsRecruitment and trainingEmpowerment

World Leader in Platinum Facility Visit March 2003

EASTERN LIMB TRAINING ISSUES

Learnt lessons from previous projectsLearnershipsInitial skills and team trainingInduction via 10 day integrated team training intervention

- Adventure related experiential learning technique

- Behaviour based safety initiative included

World Leader in Platinum Facility Visit March 2003

EMPOWERMENT ANDSMALL & MEDIUM ENTERPRISE

DEVELOPMENT

High priority given to local empowerment and SME developmentResources dedicated to development of capacityAll contractors required to maximise the usage of local labour and companiesAlliances & JVs with local companies encouragedClose liaison with Provincial and local authorities

World Leader in Platinum Facility Visit March 2003

CONCLUSION

Holistic approachWell managed steady state operationsResources secured by agreement with governmentProjects in placeJoint ventures in place and under negotiationWell placed to comply with Minerals Act and Charter requirements

World Leader in Platinum Facility Visit March 2003

EASTERN LIMBIN CONTEXT

QUESTIONS

A member of the Anglo American plc group