Twickinhem Platinum Mine

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Twickinhem Platinum Mine

Twickenham achieved zero fatalities during the year. The lost-time injury-frequency rate for the year, however, deteriorated from 0.60 in 2007 to 1.77 in 2008.

Equivalent refined platinum ounces increased by 2% to 9,500 ounces in 2008, compared with 9,300 ounces in 2007. The average 4E built-up head grade increased to 4.76 g/t in 2008, from 4.65 g/t in 2007. Twickenham Platinum Mine is a 100% UG2 operation.

Total cash on-mine costs increased by R69 million or 54% to R197 million. The cash onmine cost per equivalent refined platinum ounce increased by 50% to R20,706 per ounce, compared with R13,763 in 2007. The cost per tonne milled increased by 49% to R1,203. Total capital expenditure was R517 million in 2008, compared with R168 million in 2007.

The mining training centre, which is an underground mine development centre for the Eastern Limb expansions at Twickenham shaft, was approved in the second quarter of 2007 and is progressing well. The R7.1 billion Twickenham expansion project was approved by the Board in quarter one of 2008. The project is scheduled to produce in the fourth quarter of 2012. Financial constraints arising from the global economic downturn have slowed the project down by six months.

Production from the Twickenham mini-mine will continue in 2009 and a toll concentrating agreement will be entered into with Lebowa to treat ore from Twickenham. This arrangement will be reviewed at the time when Anooraq Resources assumes management control over Lebowa.

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