GOLD PRICES December 2000 to September 2011 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 US$ per Ounce Robertson Economic Information Services US$1 771

GOLD PRICES December 2000 to October | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 US$ per Ounce Robertson Economic Information Services US$1 741

GOLD PRICES December 2000 to December 2011 Month-End Prices | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 US$ per Ounce Robertson Economic Information Services US$1 574

GOLD PRODUCTION VOLUMES Robertson Economic Information Services KILOGRAMS PER YEAR

GOLD PRODUCTION VOLUMES Robertson Economic Information Services KILOGRAMS PER YEAR FIRST 8 MONTHS 2011

MINING PRODUCTION PLATINUM Robertson Economic Information Services KILOGRAMS

MINING PRODUCTION PLATINUM Robertson Economic Information Services KILOGRAMS FIRST 8 MONTHS 2011

MINING PRODUCTION PALLADIUM Robertson Economic Information Services KILOGRAMS

MINING PRODUCTION RHODIUM Robertson Economic Information Services KILOGRAMS

MINING PRODUCTION VOLUMES TONNES Robertson Economic Information Services

MINING PRODUCTION VOLUMES - BASE MINERALS TONNES Robertson Economic Information Services

COAL PRODUCTION Tonnes per Month - Jan 1996 to Aug 2011 Robertson Economic Information Services To August 2011 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011

HWANGE COLLIERY Improving Performance First six months Coal sales, millions of tonnes 1,161,18 Coking coal, tonnes Revenue US$’m48,645, US$180 million needed to update underground and opencast mining operations Robertson Economic Information Services

COAL PRODUCTION Tonnes per Month - Jan 1996 to Aug 2011 Robertson Economic Information Services | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011

MINING PRODUCTION HIGH CARBON FERROCHROME TONNES Robertson Economic Information Services

MINING PRODUCTION NICKEL TONNES PER YEAR Robertson Economic Information Services

TONNES PER YEAR Robertson Economic Information Services MINING PRODUCTION COPPER

MINING PRODUCTION COBALT TONNES

MINING PRODUCTION IRON ORE TONNES Robertson Economic Information Services

MINING PRODUCTION PHOSPHATE ROCK TONNES PER YEAR Robertson Economic Information Services

ASBESTOS PRODUCTION VOLUMES TONNES Robertson Economic Information Services

MINING PRODUCTION IRON ORE TONNES Robertson Economic Information Services

MINING PRODUCTION IRON ORE TONNES Robertson Economic Information Services

ZISCO STEEL SALES 2000 FIRST MERCHANT BANK TONNES PER MONTH

COMMODITY PRICES INDEX: DEC 2006=100 INDEX: December 2006=100 || 2007 | 2008 | 2009 | 2010 | 2011 |

PLATINUM PRICES | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | US$ per Ounce Robertson Economic Information Services 2012

GOLD & PLATINUM PRICES | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | US$ per Ounce PLATINUM 2011 Robertson Economic Information Services GOLD

PALLADIUM PRICES | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | US$ per Ounce Robertson Economic Information Services

GOLD PRICES | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | US$ per Ounce Robertson Economic Information Services 2012

MINING PRODUCTION VOLUMES TONNES Robertson Economic Information Services

MINING PRODUCTION VOLUMES – PRECIOUS METALS Robertson Economic Information Services KILOGRAMS

RESOURCE CONVERSION: Sales Revenue becomes Payments for Goods and Services needed to extract Minerals. Profits are made only if Revenue from the Mineral Sales exceeds Costs COSTS AFTER VERY LARGE CAPITAL OUTLAY

RESOURCE CONVERSION: Sales Revenue becomes Payments for Goods and Services needed to extract Minerals. Profits are made only if Revenue from the Mineral Sales exceeds Costs COSTS AFTER VERY LARGE CAPITAL OUTLAY ARE INCREASED BY ADDITION OF ROYALTIES

RESOURCE CONVERSION: Sales Revenue becomes Payments for Goods and Services needed to extract Minerals. Profits are made only if Revenue from the Mineral Sales exceeds Costs Revenue exceeds costs= Profit COSTS & REVENUE Value of minerals produced ROYALTIES CALCULATED AS A % OF TOTAL VALUE OF MINERALS PRODUCED

RESOURCE CONVERSION: Sales Revenue becomes Payments for Goods and Services needed to extract Minerals. Profits are made only if Revenue from the Mineral Sales exceeds Costs Revenue exceeds costs Costs exceed revenue = Profit = Loss COSTS & REVENUE Value of minerals produced ROYALTIES CALCULATED AS A % OF TOTAL VALUE OF MINERALS PRODUCED …but after downturn in metal prices

RESOURCE CONVERSION: Sales Revenue becomes Payments for Goods and Services needed to extract Minerals. Profits are made only if Revenue from the Mineral Sales exceeds Costs Revenue exceeds costs Costs exceed revenueLoss COSTS & REVENUE Value of minerals produced = Profit

RESOURCE CONVERSION: Sales Revenue becomes Payments for Goods and Services needed to extract Minerals. Profits are made only if Revenue from the Mineral Sales exceeds Costs Revenue exceeds costs Costs exceed revenueLoss COSTS & REVENUE Value of minerals produced = Profit Mining company’s entire investment is to earn this profit

RESOURCE CONVERSION: Sales Revenue becomes Payments for Goods and Services needed to extract Minerals. Profits are made only if Revenue from the Mineral Sales exceeds Costs Revenue exceeds costs Costs exceed revenue Profit Loss COSTS & REVENUE Value of minerals produced …but after downturn in metal prices

RESOURCE CONVERSION: Sales Revenue becomes Payments for Goods and Services needed to extract Minerals. Profits are made only if Revenue from the Mineral Sales exceeds Costs Revenue exceeds costs Costs exceed revenue Profit Loss COSTS & REVENUE Value of minerals produced This profit not be sufficient to justify the mining company’s investment …but after downturn in metal prices

RESOURCE CONVERSION: Sales Revenue becomes Payments for Goods and Services needed to extract Minerals. Profits are made only if Revenue from the Mineral Sales exceeds Costs Revenue exceeds costs Costs exceed revenue Profit Loss COSTS & REVENUE Value of minerals produced If metal prices fall, company’s investment could experience loss

DIAMOND REVENUES 2011 US$ | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | US$’000

CHIADZWA DIAMONDS African Consolidated Resources Claim

CHIADZWA DIAMONDS Mbada Diamonds Marange Resources Marange Resources ZMDC

CHIADZWA DIAMONDS Mbada Diamonds Marange Resources Marange Resources ZMDC

CHIADZWA DIAMONDS Mbada Diamonds Marange Resources Marange Resources ZMDC CIO PRISONS ANJIN ARMY POLICE

CHIADZWA DIAMONDS Mbada Diamonds US$600m m Marange Resources Marange Resources ZMDC CIO PRISONS ANJIN ARMY POLICE

CHIADZWA DIAMONDS Mbada Diamonds US$600m m Marange Resources Marange Resources ZMDC CIO PRISONS ANJIN ARMY POLICE

MINING STATISTICS Jan to Aug 2011