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MINERAL RESOURCE AND ORE RESERVE REPORTING POLICY Kumba Iron Ore (KIO) a South African based mining and natural resource company recognises that a common approach to reporting Ore Reserves and Mineral Resources to the KIO Board shareholders and investment community is an essential aspect of best practise and good governance Group Ore Reserves and Mineral Resources Degrussa Copper-Gold Mine and Monty Copper-Gold Mine Underground Ore Reserve and Mineral Resource Estimate - ASX Release dated 17 April 2020 - click here Black Butte Copper Project Johnny Lee Deposit Mineral Resource Estimate - ASX Release dated 30 October 2019 - click here

Mineral Resource and Ore Reserve Estimation

Estimation of a mineral resource is the starting point to successful mine development A reliable estimate combines good quality and relevant data competent geological interpretation and a methodology for producing from that data and interpretation a reliable representation of the mineralized deposit its geometry its grade distribution its metallurgical variability and its density

Estimation of a mineral resource is the starting point to successful mine development A reliable estimate combines good quality and relevant data competent geological interpretation and a methodology for producing from that data and interpretation a reliable representation of the mineralized deposit its geometry its grade distribution its metallurgical variability and its density

2 Supporting Information for the Ore Reserve Estimate Required Under Listing Rule 5 9 The Ore Reserve is based on the updated Mineral Resource estimated by RPMGlobal (refer ASX announcement of 30 January 2018) which confirmed Havilah's earlier Mineral Resource estimate (refer ASX announcement of 29 March 2017) Sections 1 2 and 3 from

Frieda River Copper-Gold Project Ore Reserve update PanAust Limited (PanAust) is pleased to announce an updated Ore Reserve estimate for the Frieda River Copper-Gold Project (FRCGP) in Papua New Guinea (PNG) The 2018 Horse-Ivaal-Trukai Ekwai and Koki (HITEK) Ore Reserve estimate for the is reported FRCGP

UPDATED MINERAL RESOURCE AND ORE RESERVE STATEMENT Following the acquisition of Sierra Rutile Limited on 7 December 2016 Iluka Resources Limited is required to report the Ore Reserves and Mineral Resources for this material project Iluka has also updated the Ore Reserves for all its other material projects being

Table 2 Australia's Estimated Ore Reserves 1 as at December 2018 This table provides a generally short-term commercial view of Australia's economic mineral inventory as reported in compliance with the JORC Code by Competent Persons Reserves may be reported for operating mines mines on care and maintenance mines under development and some

Ore reserve

These results are part of a larger drilling program designed to re-assess the Mineral Resources and Ore Reserve at Boonanarring as announced to the ASX on 14 March 2019 (Targeting Ore Reserve Upgrade at Boonanarring in Response to Higher than Expected Ore Grades) and as announced on 15 July 2019 (Image Resources Confirms Existence of HighGrade

These results are part of a larger drilling program designed to re-assess the Mineral Resources and Ore Reserve at Boonanarring as announced to the ASX on 14 March 2019 (Targeting Ore Reserve Upgrade at Boonanarring in Response to Higher than Expected Ore Grades) and as announced on 15 July 2019 (Image Resources Confirms Existence of HighGrade

Notes: The ore reserve and mineral resource estimates have been prepared in accordance with the classification criteria of the Australasian Code for Reporting of Exploration Results Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy Australian Institute of Geoscientists and Minerals Council of

DEGRUSSA ORE RESERVE AND MINERAL RESOURCE UPDATE Extension of Conductor 5 Mineral Resource and subsequent conversion to Ore Reserves supports mine life through to mid-CY2022 Highlights Updated Underground Ore Reserve for DeGrussa and Monty Mines o 5 5Mt grading 4 8% Cu and 1 6g/t Au for 264 000t of contained copper and

Principles of a Resource/Reserve Classification for Minerals By the U S BUREAU OF MINES and the U S GEOLOGICAL SURVEY INTRODUCTION Through the years geologists mining engineers and others operating in the minerals field have

reliability of our Mineral Resource and Ore Reserve models continues to provide a sound basis on which to plan our future The Esuajah South deposit has been included in previous Ore Reserve estimates but not in prior Life of Mine forecasts for Edikan Following an update of the Feasibility Study for the deposit the Ore Reserve estimate

reliability of our Mineral Resource and Ore Reserve models continues to provide a sound basis on which to plan our future The Esuajah South deposit has been included in previous Ore Reserve estimates but not in prior Life of Mine forecasts for Edikan Following an update of the Feasibility Study for the deposit the Ore Reserve estimate

a profit is termed the ore reserve As the selling price of the mineral rises or the extraction costs fall the proportion of the mineral inventory classified as ore increases Obviously the opposite is also true and a mine may cease production because (1) the mineral is exhausted or (2

Ore Reserve is located within the existing ~600m strike length of the Deflector mine Ore Reserves support mining schedules for 4 years and the conversion of Inferred Mineral Resources to Measured and Indicated Mineral Resources provides greater confidence for Ore Reserve conversion in future years within the current Deflector mine footprint

RESOURCE/RESERVE REPORTING STANDARDS FOR MINERALS

RESOURCE/RESERVE REPORTING STANDARDS FOR MINERALS Presentation to the International Accounting Standards Board in London by video link from Melbourne On behalf of the IASB Extractive Activities Project Team 19 April 2005 Pat Stephenson Member and past-Chairman – JORC 19 April 2005 No 2 Outline Background (types of mineral deposits etc) What is a Mineral Resource and an Ore Reserve

RESOURCE/RESERVE REPORTING STANDARDS FOR MINERALS Presentation to the International Accounting Standards Board in London by video link from Melbourne On behalf of the IASB Extractive Activities Project Team 19 April 2005 Pat Stephenson Member and past-Chairman – JORC 19 April 2005 No 2 Outline Background (types of mineral deposits etc) What is a Mineral Resource and an Ore Reserve

"A Mineral Reserve is the economically mineable part of a Measured and/or Indicated Mineral Resource It includes diluting materials and allowances for losses which may occur when the material is mined or extracted and is defined by studies at Pre-Feasibility or Feasibility level as appropriate that include application of Modifying Factors

maiden Ore Reserve for its Bowdens Silver deposit located 26 kilometres east of Mudgee in New South Wales The maiden Ore Reserve supports Bowdens' 16-year mine life detailed in the soon to be released Feasibility Study The Bowdens Ore Reserve is estimated at 29 9 million tonnes at 69 0 g/t silver 0 44% zinc and

Notes: The ore reserve and mineral resource estimates have been prepared in accordance with the classification criteria of the Australasian Code for Reporting of Exploration Results Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy Australian Institute of Geoscientists and Minerals Council of

RESOURCE/RESERVE REPORTING STANDARDS FOR MINERALS Presentation to the International Accounting Standards Board in London by video link from Melbourne On behalf of the IASB Extractive Activities Project Team 19 April 2005 Pat Stephenson Member and past-Chairman – JORC 19 April 2005 No 2 Outline Background (types of mineral deposits etc) What is a Mineral Resource and an Ore Reserve

The Mineral Resource and Ore Reserve estimates below have been prepared and classified in accordance with the guidelines of the Australasian Code for Reporting of Exploration Results Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy Australian Institute of

DEGRUSSA ORE RESERVE AND MINERAL RESOURCE UPDATE Extension of Conductor 5 Mineral Resource and subsequent conversion to Ore Reserves supports mine life through to mid-CY2022 Highlights Updated Underground Ore Reserve for DeGrussa and Monty Mines o 5 5Mt grading 4 8% Cu and 1 6g/t Au for 264 000t of contained copper and

Resource Estimate prepared by Mining Associates Pty The Ore Reserve Estimate is based on the November 2013 Resource Estimate prepared by Mining Associates Pty Ltd updated in October 2017 (ASX announcement 31/10/2017) Resource categories were defined using sampling density number of informing samples and conditional bias slope of

Ore Reserve Ore loss and dilution factors have been increased for the 2019 Las Bambas Ore Reserve estimates Pages 9 and 10 provide further discussion of the Mineral Resources and Ore Reserves changes 1 Depletion in this report refers to material processed by the mill and depleted from the Mineral Resources and Ore Reserves through

These results are part of a larger drilling program designed to re-assess the Mineral Resources and Ore Reserve at Boonanarring as announced to the ASX on 14 March 2019 (Targeting Ore Reserve Upgrade at Boonanarring in Response to Higher than Expected Ore Grades) and as announced on 15 July 2019 (Image Resources Confirms Existence of HighGrade

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