Review of South African Operations

Beatrix Gold Mine

Technical short form report (PDF - 3MB)

		Production at 376,600 ounces (C2009: 400,000) at NCE of US$1,084/oz (C2009: US$842/oz) Ongoing focus on face length flexibility, labour management, and volume/grade management to address NCE margin Infrastructure footprint reduction at South Section to reduce fixed costs Contract for the sale of the first Certified Emissions Reductions generated by a global gold mining company
PRODUCTION: 376,600 ounces NOTIONAL CASH EXPENDITURE: US$1,084/oz

Beatrix Gold Mine is situated in the geologically unique and world renowned Witwatersrand Basin, which is the world’s premier gold region. The mine is the southernmost mine in the Witwatersrand Basin, locally called the Free State Goldfield. The discovery and development of this goldfield can be traced as far back as 1885. After intense exploration, which commenced in 1936, conglomerates were identified in 1938. Further drilling led to the identification of the Basal Reef in March 1939, which led to many mines being developed in the Free State Goldfields.

Exploration in the southern area dates from the early 1950s, culminating in detailed exploration drilling between 1973 and 1980 for the Beatrix Mine, and between 1969 and 1978 for the Beisa Mine (later named Oryx Mine), which is now called Beatrix West Section (4 Shaft). Production commenced at 4 Shaft in July 1983 and at Beatrix 1 and 2 Shafts in 1985 following completion of shaft sinking. Operations at 4 Shaft ceased in 1984, but recommenced in 1987 following further drilling. Beatrix Mine in today’s form was established following the sale of St Helena Gold Mine to Freegold on 30 October 2002.

Six-month period from July 2010 to December 2010
Rounding off of figures presented in this report may result in minor computational discrepancies. Where this occurs it is not deemed significant.