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Ferrous Metals

Anglo Ferrous Brazil

The Minas-Rio project is located in the state of Minas Gerais, Brazil and will include open pit mines and a beneficiation plant producing high grade pellet feed which will be transported, through a slurry pipeline, over 500km to the Port of Açu in the state of Rio de Janeiro. The project will largely be based on the two main deposits of Serra do Sapo and Itapanhoacanga. Two ore types, Friable and Hard Itabirite, have been identified at Serra do Sapo and Itapanhoacanga. Only the Friable Itabirite at Serra do Sapo is being considered for Phase 1 of the project. The planned annual capacity of Phase 1 is 26.5Mtpa of iron ore pellet feed (wet tonnes), for start up during the second quarter of 2012.

The estimates of Mineral Resources have been audited by an independent Qualified Person from SRK who has compiled a NI 43-101 compliant Technical Report. In the case of the Serra do Sapo deposit a new Mineral Resource estimate was prepared in 2008 by Anglo Ferrous Brazil and audited by SRK. The Mineral Resources are also JORC compliant. The Qualified Person has consented to the inclusion of the resources in the table below, and associated footnotes, and agrees with the context and form in which they occur.

The figures reported represent 100% of the Mineral Resources. Anglo American plc’s effective interest in the Minas Rio Project is 99.4%. Rounding of figures may cause computational discrepancies.

Minas-Rio Project(1)(7)(8)
Iron Ore
Mineral Resources
  Tonnes
million
Grade
Attributable % Classification 2008 2007 2008 2007
Itapanhoacanga (OP)(3)(4) 99.4   %Fe %Fe
Friable Itabirite Measured
  Indicated 83.0 83.0 40.3 40.3
  Measured and Indicated 83.0 83.0 40.3 40.3
  Inferred(2) 284.0 284.0 40.4 40.4
Hard Itabirite Measured
  Indicated
  Measured and Indicated
  Inferred(2) 32.0 32.0 34.2 34.2
Serra do Sapo (OP)(5) 99.4   %Fe %Fe
Friable Itabirite and Hematite(6) Measured 462.0 38.1
  Indicated 565.8 222.0 37.5 41.0
  Measured and Indicated 1,027.8 222.0 37.8 41.0
  Inferred(2) 143.9 313.0 34.3 39.5
Hard Itabirite Measured
  Indicated 1,650.5 171.0 31.0 34.8
  Measured and Indicated 1,650.5 171.0 31.0 34.8
  Inferred(2) 680.8 141.0 30.3 34.2
Mining method: OP = Open Pit.
(1)
Minas-Rio Project: All Mineral Resources are stated as wet metric tonnes and the moisture content is estimated at 7%.
(2)
Minas-Rio Project – Inferred Resources: Due to the uncertainty in the estimates of Inferred Resources, it should not be assumed that all of the Inferred Resources will necessarily upgrade to Indicated or Measured Resources.
(3)
Itapanhoacanga: Cut-off grade used is 33% Fe.
(4)
Itapanhoacanga – Further lower grade resources above a cut-off of 20% Fe:
Friable Itabirite – an estimated 7Mt of Indicated Mineral Resources at an estimated average grade of 32% Fe;
Friable Itabirite – an estimated 78Mt Inferred Mineral Resources at an estimated average grade of 29% Fe; and
Hard Itabirite – an estimated 19Mt of Inferred Mineral Resources at an estimated average grade of 31% Fe.
(5)
Serra do Sapo: A new geological model and resource estimate was completed during 2008. A significant increase in Mineral Resources has occurred due to the inclusion of new drill results. Additional increases are attributable to a lowering of cut-off grade to 25% Fe from the previous 33% Fe.
(6)
Serra do Sapo – Friable Itabirite and Hematite: The hematite material has been included within the friable material type, as it is an attractive material type economically but not significant in tonnage terms.
(7)
Serro deposit – Resources above a cut-off of 33% Fe:
Friable plus Hard Itabirite – an estimated 25Mt of Indicated and 56Mt of Inferred Mineral Resources at an estimated average grade of approximately 38% Fe.
Further lower grade resources above a cut-off of 20% Fe:
Friable plus Hard Itabirite – an estimated 101Mt of Indicated and 256Mt of Inferred Mineral Resources at an estimated average grade of 29% Fe.
(8)
João Monlevade deposit – Resources above a cut-off of 30% Fe: Friable Itabirite – an estimated 133Mt of Inferred Mineral Resources at an estimated average grade of 47% Fe.

Amapá iron ore system
Iron Ore

Anglo American acquired an effective 69.2% interest in the Amapá project during 2008. During 2008 new exploration drilling was conducted within the project mineral rights area. A resource and reserve estimate incorporating all project data will be prepared in 2009.

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