Ore resource consist of minerals that are legally, economically and technically feasible to extract. Afarak’s measured chrome ore reserves are 15.95 million tons in South Africa. The Turkish reserves include 7.1 million tons and 2.1 of hypothetical reserves, as defined in the Turkish regulations.
Mineral reserves consist of minerals that are potentially valuable, and for which reasonable prospects exist for eventual economic extraction. Once legal, technical and economical actions and confirmations have been completed, mineral reserves can be classified as ore resource. Afarak’s chrome ore reserves in South Africa are 44.86 million tons including measured reserves of 15.95 million tons.
Furthermore, Afarak’s total resources of PGMs are 1.26 million ounces of platinum, palladium plus gold. The total resources of PGMs includes 0.93 million ounces at the Stellite mine.
Further information on Afarak’s reserves and resources can be found at Afarak’s reserves and resources statement: