Name of the Project
Mototolo/Der Brochen life extension project.

Location
North-eastern part of South Africa, in Burgersfort, Limpopo.

Project Owner/s
Anglo American Platinum (Amplats).

Project Description
Amplats approved the project in December 2021.

The life extension project will leverage the existing Mototolo infrastructure, allowing for mining to extend into the adjacent and down-dip Der Brochen resource, which will extend the life-of-mine beyond 30 years.

The Der Brochen upper group two orebody will use the same bord-and-pillar mining method as the Mototolo mine, and will be a fully mechanised operation, positioned in the bottom half of the primary platinum group metals (PGMs) producer cost curve.

The project includes development of a new shaft to replace the depleting Mototolo reserves (Lebowa and Borwa shafts), maintaining the 240 000 t a month mining rate.

With the completion of the concentrator debottlenecking project in the third quarter of 2021, production from Mototolo/Der Brochen is expected to be maintained at about 250 000 PGM ounces a year.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The financial returns of the project are expected to be strong, with an internal rate of return of more than 25% and payback of about six years from first production, based on consensus pricing.

Capital Expenditure
R3.9-billion. Capital investment spans six years, with the majority of capital invested in 2022, 2023 and 2024.

Planned Start/End Date
First production is expected in late 2023.

Latest Developments
Development of the project started in the first quarter of 2022, with the majority of capital to be invested in 2022, 2023 and 2024.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Amplats investor contact Emma Chapman, email emma.chapman@angloamerican.com.
Amplats media contact Jana Marais, email jana.marais@agloamerican.com.