IMP 201311040005A
First Quarter Production Report for the period 1 July to 30 September 2013

(Incorporated in the Republic of South Africa)
(Registration number 1957/001979/06)
JSE code: IMP
ISIN: ZAE 000083648
("Implats" or “the Company”)



                                                           Unaudited            Unaudited
             Operational information                     Quarter ended        Quarter ended
                                                       30 September 2013    30 September 2012
    Implats Gross Refined Production
    Platinum                                000oz                    376                  454
    Palladium                               000oz                    228                  287
    Rhodium                                 000oz                     45                   56
    Nickel                                   000t                    3.88                 3.80

    Tonnes Milled*                           000t                   3 000                3 223
    Grade (6E)*                                  g/t                 4.35                 4.24
    Merensky Milled*                             %                    44                   43
    Refined Platinum Production             000oz                    195                  193

    Tonnes Milled                            000t                    453                  409
    Grade (6E)                                   g/t                 4.25                 4.22
    Platinum in Concentrate                 000oz                     20                   18

    Tonnes Milled                            000t                   1 509                1 056
    Grade (6E)                                   g/t                 3.46                 3.54
    Platinum in Matte                       000oz                     60                   40

    Tonnes Milled                            000t                    611                  616
    Grade (6E)                                   g/t                 3.94                 3.96
    Platinum in Concentrate                 000oz                     26                   28

    Refined Platinum Production             000oz                    181                  261

    Group Unit Costs (excluding SBP)         R/oz                  16 600               15 326
     Prices Achieved
     Platinum                                              $/oz                    1 440                    1 444
     Palladium                                             $/oz                      723                      598
     Rhodium                                               $/oz                      982                    1 171
     Nickel                                                  $/t                  13 689                   15 785
     Average exchange rate                                  R/$                    10.01                     8.25
*The ex-mine tonnage, grade and % Merensky statistics tabulated above excludes low grade material from surface sources.

There were no fatalities reported during the period. Regrettably, an employee who suffered
injuries following a mine accident at Zimplats, subsequently passed away from medical
complications unrelated to the accident after being released from hospital. The board of
directors and the management team have extended their sincere sympathies to his family,
friends and colleagues.

The Lost Time Injury Frequency Rate deteriorated to 4.89 per million man hours worked from
a rate of 4.21 reported for the full 2013 financial year. Safe production remains our principle
priority and, in line with this commitment, self-imposed work stoppages were increased during
the quarter and efforts were intensified to implement all strategic safety initiatives.                                   It is
pleasing to report that the rollout of nets and bolts on the Merensky horizon in Rustenburg has
now been completed, whilst the rollout is 84% complete on the UG2 horizon.

Gross platinum production decreased by 17% to 376 000 ounces for the quarter compared
with the corresponding period for the prior year. During the quarter, increased production at
Zimplats from the Phase 2 expansion and improved output from Impala and Marula were more
than offset by lower IRS receipts and some inventory build-up at the refineries. The lower IRS
receipts were directly related to the termination of deliveries from a recycling customer in the
prior year.

Mill throughput at Impala declined by 7% to 3.0 million tonnes for the period, impacted by the
closure of two old production shafts (2 Shaft and 5 Shaft) and an underground conveyor fire at
12 Shaft.        However, improved mill grades, which rose by 3%, and higher metallurgical
recoveries aided by higher Merensky volumes, as well as a smelter lock-up during the quarter
more than offset this decrease, which resulted in refined platinum production for the period
under review increasing marginally to 195 000 ounces.

Operational focus remains on optimising development, equipping, construction and ledging
activities to address ore reserve flexibility constraints and to ramp-up the new 16 and 20 shaft
complexes to grow production from the current base of 700 000 ounces platinum per annum
to 850 000 ounces by 2018. It is pleasing to report that these projects remain on track and
first stoping production commenced from 16 Shaft during the quarter.

Tonnes milled at Marula rose by 11% to 453 000 tonnes for the period, aided by the
introduction of additional mining teams and increased stoping efficiencies. This improvement,
together with a marginal increase in head grade to 4.25 g/t, resulted in platinum in concentrate
production increasing by 15% to 20 000 ounces platinum.

Mill throughput increased by 43% for the quarter compared with the corresponding period a
year ago. The increase is directly attributed to the continued ramp-up in production at Mupfuti
Mine and the treatment of additional material from the ore stockpiles. Head grade declined by
2% to 3.46g/t impacted by lower grade material sourced from the stockpiles and some ore
dilution as a result of poor ground conditions being encountered in some sections of the mine.
As a consequence, platinum in matte production increased by 50% to 60 000 ounces
compared with the corresponding period.        The Phase 2 expansion remains on track to
produce 270 000 ounces of platinum in early 2015.

Following the inauguration of a new government in Zimbabwe, the Company’s indigenisation
plan will now be reviewed by the new Minister of Indigenisation. These discussions will also
include further engagement on the previously announced land acquisition by the government
of Zimbabwe.

Mimosa produced 26 000 ounces of platinum in concentrate during the period, in line with
steady-state refined production of approximately 100 000 ounces of platinum per annum.

There have been no new developments regarding Mimosa’s proposed indigenisation plan.

Throughput for the quarter at IRS decreased by 31% to 181 000 ounces of platinum compared
with the corresponding period for the prior year. This was largely as a result of the cessation
of deliveries from a recycling customer and some build-up in pipeline stocks at the refineries.
Unit costs continue to be impacted by mining inflation and the transition from old to new shafts
at Impala Rustenburg.        Cost per platinum ounce rose by approximately 8% from the
corresponding period to R16 600 per platinum ounce in the quarter. We continue to work on
the turnaround plan at Impala Rustenburg and our capital initiatives to grow production at
Impala Rustenburg and Zimplats, all of which will temper future unit cost escalation.

Regrettably, subsequent to the end of the quarter under review there was an incident at
Impala Rustenburg when Mr Lebogang Abednego Moiteri, a panel operator at 10 Shaft, was
fatally injured in a fall-of-ground. The board of directors and the management team have
extended their sincere and deepest sympathies to his family, friends and colleagues.

This incident has deeply affected everybody at Implats as this has been the first fatality at
Impala Rustenburg in almost six months and, significantly, the first fall of ground fatality, which
have historically been a major cause of fatal incidents, in more than 16 months. The incident
occurred in the UG2 reef horizon in an area where nets and bolts have not yet been
employed. Management has intensified its efforts to complete the roll-out of nets and bolts
and employee alignment with the group’s safety processes and philosophies to ensure that
accidents of this nature do not occur again in the future.

4 November 2013

Enquiries should be directed to:
Johan Theron - Group Executive: Corporate Relations
+27 11 731 9013/43
+27 82 809 0166

Deutsche Securities (SA) Proprietary Limited

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