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Base Metals

Anglo Base Metals - Copper

The Ore Reserve and Mineral Resource estimates were compiled in accordance with the Australasian Code for Reporting of Mineral Resources and Ore Reserves (The JORC Code, 2004) as a minimum standard. The Mineral Resources are additional to the Ore Reserves.

The figures reported represent 100% of the Ore Reserves and Mineral Resources, the percentage attributable to Anglo American plc is stated separately. Rounding of figures may cause computational discrepancies.

Copper Division
Ore Reserves
    Tonnes
million
Grade Contained metal
thousand tonnes
Attributable % Classification 2008 2007 2008 2007 2008 2007
Los Bronces (OP) 100       %Cu %Cu    
Sulphide (TCu)(1)   Proved 715.4 697.7 0.73 0.76 5,222 5,303
Flotation   Probable 890.7 782.7 0.55 0.58 4,899 4,540
    Total 1,606.1 1,480.4 0.63 0.66 10,121 9,842
Sulphide (TCu)(2)   Proved 303.9 344.8 0.33 0.33 1,003 1,138
Dump Leach   Probable 492.6 672.6 0.22 0.25 1,084 1,682
    Total 796.5 1,017.4 0.26 0.28 2,087 2,819
El Soldado (OP and UG) 100       %Cu %Cu    
Sulphide (TCu)   Proved 71.2 68.7 1.00 1.04 712 715
Flotation   Probable 44.2 50.7 0.89 0.82 393 418
    Total 115.4 119.4 0.96 0.95 1,105 1,133
Oxide (TCu)   Proved 3.2 1.5 0.89 0.87 28 13
Heap Leach   Probable 2.8 3.0 0.57 0.74 16 22
    Total 6.0 4.6 0.74 0.78 44 36
Mantos Blancos (OP)(3) 100       %Cu %Cu    
Sulphide (ICu)   Proved 12.9 9.4 0.93 0.93 120 87
Flotation   Probable 18.5 19.3 0.94 1.05 173 203
    Total 31.3 28.7 0.94 1.01 293 291
Oxide (ASCu)   Proved 1.4 1.5 0.70 0.72 10 11
Vat and Heap Leach   Probable 37.6 44.0 0.45 0.44 169 195
    Total 39.0 45.5 0.46 0.45 179 205
Oxide (ASCu)   Proved 0.6 0.5 0.24 0.24 1 1
Dump Leach   Probable 11.6 9.4 0.26 0.27 30 26
    Total 12.1 10.0 0.26 0.27 31 27
Mantoverde (OP)(4) 100       %Cu %Cu    
Oxide (ASCu)   Proved 45.6 53.5 0.60 0.62 273 332
Heap Leach   Probable 8.0 11.2 0.54 0.57 43 64
    Total 53.6 64.7 0.59 0.61 317 395
Oxide (ASCu)   Proved 20.9 28.1 0.36 0.36 75 101
Dump Leach   Probable 10.1 11.5 0.39 0.40 39 46
    Total 31.1 39.7 0.37 0.37 115 147
Collahuasi (OP) 44.0       %Cu %Cu    
Oxide, Mixed and Secondary Sulphides (TCu)(5)   Proved 0.2 43.9 1.60 0.80 4 352
Heap Leach   Probable 20.3 31.2 0.77 0.88 156 275
    Total 20.5 75.2 0.78 0.83 160 626
Sulphide (TCu)(6)   Proved 315.4 279.0 0.99 0.99 3,123 2,762
Flotation – direct feed   Probable 1,224.1 1,180.0 0.95 0.96 11,629 11,328
    Total 1,539.5 1,459.1 0.96 0.97 14,752 14,091
Low Grade Sulphide (TCu)   Proved
Flotation – stockpile   Probable 675.1 670.1 0.51 0.51 3,443 3,418
    Total 675.1 670.1 0.51 0.51 3,443 3,418
Mining method: OP = Open Pit, UG = Underground.
TCu = total copper, ICu = insoluble copper (total copper less acid soluble copper), ASCu = acid soluble copper.
The metal price used for Ore Reserve definition is US $1.15/lb, except for Los Bronces where a copper price of US$1.25/lb has been applied.
(1)
Los Bronces – Sulphide (Flotation): A change in the cut-off grade saw some former dump leach ore become available to the flotation circuit (87Mt @ 0.42% TCu).
(2)
Los Bronces – Sulphide (Dump Leach): Anhydrite-bearing low grade sulphide material has been excluded (108Mt @ 0.24% TCu).
(3)
Mantos Blancos: Changes in Ore Reserves are attributable to changes in economic parameters, production, inclusion of new information and subsequent refinement of the Mineral Resource models.
(4)
Mantoverde: Changes in Ore Reserves are attributable to production and a constraint to the Kuroki pit by the rights of the neighbouring Enami Mine.
(5)
Collahuasi – Oxide, Mixed and Secondary Sulphides: Significant reduction in Ore Reserves is due to a transfer of Ujina secondary sulphides to the flotation process (42Mt).
(6)
Collahuasi – Sulphide (Flotation): A portion of the Probable Reserves from Ujina have been re-allocated to Inferred Resources following third party audits. In contrast, infill drilling and model refinement at Rosario has resulted in an increase in Ore Reserves.
Copper Division
Mineral Resources
    Tonnes
million
Grade Contained metal
thousand tonnes
Attributable % Classification 2008 2007 2008 2007 2008 2007
Los Bronces (OP)(1) 100       %Cu %Cu    
Sulphide (TCu)   Measured 110.8 111.7 0.42 0.47 466 529
Flotation   Indicated 1,287.3 1,532.4 0.42 0.45 5,407 6,896
  Measured and Indicated 1,398.2 1,644.1 0.42 0.45 5,872 7,425
  Inferred in Mine Plan 50.7 43.1 0.46 0.67 233 289
Sulphide (TCu)   Measured
Dump Leach   Indicated
  Measured and Indicated
  Inferred in Mine Plan 190.6 312.4 0.18 0.19 343 594
El Soldado (OP and UG)(1) 100       %Cu %Cu    
Sulphide (TCu)   Measured 45.2 61.2 0.80 0.81 360 496
Flotation   Indicated 20.2 47.9 0.81 0.73 163 349
  Measured and Indicated 65.4 109.1 0.80 0.77 523 845
  Inferred in Mine Plan 12.9 10.8 0.77 0.74 99 80
Oxide (TCu)   Measured 0.1 0.1 0.67 0.87 1 1
Heap Leach   Indicated 0.1 0.2 0.81 0.84 1 2
  Measured and Indicated 0.3 0.3 0.75 0.85 2 3
  Inferred in Mine Plan 0.8 0.9 0.80 0.88 6 8
Mantos Blancos (OP)(1) 100       %Cu %Cu    
Sulphide (ICu)   Measured 14.5 17.7 0.72 0.75 104 133
Flotation   Indicated 112.7 112.8 0.66 0.70 743 791
  Measured and Indicated 127.2 130.5 0.67 0.71 848 924
  Inferred in Mine Plan 0.4 4.2 0.77 0.82 3 34
Oxide (ASCu)   Measured 0.3 1.0 0.56 0.59 2 6
Vat and Heap Leach   Indicated 9.5 9.7 0.57 0.55 54 53
  Measured and Indicated 9.8 10.7 0.57 0.55 56 59
  Inferred in Mine Plan 0.4 2.2 0.56 0.57 2 13
Oxide (ASCu)   Measured
Dump Leach   Indicated
  Measured and Indicated
  Inferred in Mine Plan 0.3 1.1 0.24 0.24 1 3
Mantoverde (OP)(1) 100       %Cu %Cu    
Oxide (ASCu)   Measured 51.8 57.1 0.39 0.38 200 217
Heap Leach   Indicated 40.6 59.6 0.39 0.36 157 215
  Measured and Indicated 92.4 116.7 0.39 0.37 357 432
  Inferred in Mine Plan 0.2 0.3 0.61 0.62 1 2
Oxide (ASCu)   Measured
Dump Leach   Indicated 3.5 4.3 0.32 0.33 11 14
  Measured and Indicated 3.5 4.3 0.32 0.33 11 14
  Inferred in Mine Plan 0.3 0.6 0.39 0.37 1 2
Sulphide Project (TCu)(2)   Measured 1.2 0.78 9
Flotation   Indicated 57.1 0.72 411
  Measured and Indicated 58.2 0.72 420
  Inferred in Mine Plan
Collahuasi (OP)(1) 44.0       %Cu %Cu    
Oxide, Mixed and Secondary Sulphides (TCu) Measured
Heap Leach   Indicated 2.0 6.0 1.18 0.79 24 48
  Measured and Indicated 2.0 6.0 1.18 0.79 24 48
  Inferred in Mine Plan 0.6 1.3 1.09 1.18 7 16
Sulphide (TCu)   Measured 1.4 3.5 0.78 1.28 11 45
Flotation – direct feed   Indicated 289.3 570.3 0.85 1.10 2,459 6,274
  Measured and Indicated 290.7 573.8 0.85 1.10 2,470 6,318
  Inferred in Mine Plan 258.9 374.0 0.93 0.95 2,407 3,553
Low Grade Sulphide (TCu)   Measured 1.2 2.9 0.47 0.50 5 14
Flotation – stockpile   Indicated 109.3 154.6 0.50 0.50 547 773
  Measured and Indicated 110.5 157.5 0.50 0.50 552 787
  Inferred in Mine Plan 90.0 201.0 0.50 0.50 450 1,005
Mining method: OP = Open Pit, UG = Underground.
TCu = total copper, ICu = insoluble copper (total copper less acid soluble copper), ASCu = acid soluble copper.
(1)
Copper Resources: In 2007 Measured and Indicated Resources were declared as estimated. In 2008 a test of reasonable eventual economic extraction was applied through consideration of an optimised pit shell based on the Anglo Base Metals long-term copper price. Materials outside the optimised shell are now excluded from the Mineral Resource statement. The decrease in Measured and Indicated Mineral Resources evident at most of operations is a result of this. Inferred Mineral Resources with reasonable prospects of eventual economic extraction not considered in the Mine Plan in 2008 are as follows:- (Tt = Thousand tonnes)
  Tonnes Grade (%Cu) Contained metal Economic criteria
Los Bronces – Sulphide (Flotation): 2,472Mt 0.39% (TCu) 9,639Tt Pit Shell @ US$1.8/lb
El Soldado – Sulphide (Flotation): 70.3Mt 0.56% (TCu) 394Tt Pit Shell @ US$1.8/lb
El Soldado – Oxide (Heap Leach): 0.7Mt 0.84% (TCu) 6Tt Pit Shell @ US$1.8/lb
Mantos Blancos – Sulphide (Flotation): 14.8Mt 0.59% (ICu) 87Tt Pit Shell @ US$1.8/lb
Mantos Blancos – Oxide (Vat and Heap Leach): 1.6Mt 0.59% (ASCu) 10Tt Pit Shell @ US$1.8/lb
Mantoverde – Oxide (Heap Leach): 5Mt 0.53% (ASCu) 26Tt Pit Shell @ US$1.7/lb*
Mantoverde – Sulphide Project: 111.6Mt 0.66% (TCu) 736Tt Pit Shell @ US$1.7/lb*
Collahausi – Oxide, Mixed and Secondary Sulphides (Heap Leach): 2.3Mt 0.76% (TCu) 17Tt Pit Shell @ US$1.8/lb
Collahausi – Sulphide (Flotation): 1,372Mt 0.90% (TCu) 12,350Tt Pit Shell @ US$1.8/lb
Collahausi – Low Grade Sulphide (stockpile): 627.7Mt 0.50% (TCu) 3,138Tt Pit Shell @ US$1.8/lb
*(Difference due to relative timing of resource finalisation)
(2)
Mantoverde – Sulphide Project: The project is in a Pre-Feasibility Study stage with completion planned for mid-2009.
The Ore Reserves and Mineral Resources of the following operations were reviewed during 2008 by independent consultants: Los Bronces, El Soldado, Mantoverde and Mantos Blancos.

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