Two thirds of the earth’s surface is water… The rest we can process! 2011 AND BEYOND

Two thirds of the earth’s surface is water… The rest we can process! IN 2010 MDM SAW REQUESTS FROM THE INDUSTRY FOR o Re-costing of old BFS’s o Re-validating of CBE’s (control budget estimates) o New study requests picked up dramatically: Scoping Studies – 11 PFS – 13 BFS - 19

Two thirds of the earth’s surface is water… The rest we can process! IN 2011 MDM FORSEES o High commodity prices being sustained in: Gold; Copper; Uranium; Iron ore; REE’s Coal o Resulting in: Real project spend starting again; Requests for fast track execution from clients to benefit from high prices.

Two thirds of the earth’s surface is water… The rest we can process! COUNTRIES/REGIONS GENERATING INTEREST IN AFRICA o North Africa – Morocco, Mauritania; o West Africa – Ghana, Côte d’Ivoire, Burkina Faso, Liberia, Sierra Leone, Mali, Senegal; o Central Africa – DRC, Zambia; o East Africa – Tanzania, Eritrea, Ethiopia, Uganda; o Southern Africa – Zimbabwe, Mozambique, Namibia, Botswana, South Africa (Limited)

Two thirds of the earth’s surface is water… The rest we can process! THE INDUSTRY CHALLENGE’S MDM FORESEES o In 6-9 months a significant skills shortage again o A move towards LSTK/EPC away from EPCM contracting in projects under US$ 100 million o Projects impacted by: Supply lead times increasing again; Project time lines/schedules increasing again; Project costs increasing again; o Industry under pressure – déjà vu 2007/8.

Two thirds of the earth’s surface is water… The rest we can process! MDM ANTICIPATES o Significant new contract awards during 2011; o Margins should improve for engineering companies; o Need for efficient cost control, planning, project management, QA and QC; o To ensure projects remain ON TIME and ON BUDGET.

Two thirds of the earth’s surface is water… The rest we can process! WHO WE ARE o A process engineering and project management company whose technical team has a 23-year track record o Staffed by skilled professionals with experience in 32 countries, of which 20 were on the African continent o Africa Focused o Listed on the London Stock Exchange (AIM)

Two thirds of the earth’s surface is water… The rest we can process! WHAT WE’VE DONE o 63 Bankable feasibility studies → Over 96% of BFS went on to receive third party financing o Constructed 52 metallurgical plant s → All producing above design capacity o Commodities o GoldUranium o Base MetalsFerro Metals o PGM’sIndustrial Minerals o CoalDiamonds

Two thirds of the earth’s surface is water… The rest we can process! WHAT DO WE DO o Project Evaluation through Scoping Studies Pre-Feasibility Studies Bankable Feasibility Studies o Design - Metallurgical process development and specialised engineering and design of metallurgical plants o Construction - Construction and commissioning of plants and associated infrastructure o Project Management - Total Project Execution Manage medium to large size mining projects on an international basis

Two thirds of the earth’s surface is water… The rest we can process! DOING IT SAFELY o Total commitment to safety o “ZERO HARM” attitude towards fatalities, LTI’s and recordable incidents o Managing H,S & E is a critical business activity

Two thirds of the earth’s surface is water… The rest we can process! Thank You MDM staff induction artwork The MDM team