Vele Colliery

Ownership	100%
Location	Limpopo province, South Africa, 48km west of Musina
Infrastructure	Power (Eskom), 55kms by road to rail (from Musina directly to Matola), road, power (Eskom) and port allocation (Matola Coal terminal)
Status	On care and maintenance since October 2013
Life of mine	16 years
Product	Dual production; semi-soft coking with the option for either thermal export or middlings coal
Resources	362.5Mt mineable tonnes in situ as classified under Joint Ore Reserves Committee
Mining method	Opencast for 16 years and underground mining thereafter
Regulatory status	Full suite of authorisations
New order mining right	30 years and fully compliant in respect of plant modification project
Environmental Authorisation	Granted in January 2015 for the life of mine
Integrated Water Use Licence	Granted in December 2015 for 20 years with a non-perennial stream diversion amendment in progress – expected H2 CY2016

Abridged summary of JORC-compliant resources and reserve statement 30 June 2016	JORC-compliant resources (measured, indicated and inferred)¹			JORC-compliant reserves (proven and probable)
	Gross tonnes in situ (Mt)	Gross tonnes in situ (Mt)	Mineable tonnes in situ (Mt)	Reserves (Mt)
Vele	793.9	671.3	362.5	325.1

Resources are stated inclusive of reserves The resource, defined in accordance with the 2004 JORC Code, has not been updated since to comply with the 2012 JORC Code on the basis that the information has not materially changed since it was last reported