The Tshipi Mine is located on the southern extremity of the Kalahari Manganese Fields (“KMF”), which covers an area of approximately 23,000 hectares. The KMF is known to contain approximately 80% of the world’s in-situ manganese resources. It is important to note that the Tshipi orebody is contiguous with and is the direct extension of South32’s (formerly BHP) Mamatwan operation that has been producing manganese for over 50 years. The KMF is dominated by the Hotazel geological formation comprising three sedimentary manganese layers interbedded with banded iron formations. Of the three sedimentary manganese layers, the lower manganese deposit is the best developed and laterally continuous. The middle and upper manganese orebodies act as stratigraphic markers rather than potential mining targets given the relatively low manganese content contained in these layers.

The lower manganese orebody (“LMO”) consists of banded, very fine-grained braunite-kutnahorite lutite, containing concretionary ovoids, laminae and lenticeles of Mn-calcite with which hausmanite is commonly associated. The LMO is 37.5 m thick on average, dips toward the north- west at an average of 7º, and is subdivided based on geological features and metal content, into six sub-zones termed “N, C, M, Z, Y, X”. The grouped N, C, and M zones average 19.5 m thickness, with 37.5% Mn grade and Mn/Fe ratio of 8.5. This constitutes the average grade ore mined by Tshipi. The overlying Z, Y and X zones contain 31.0% Mn and have a Mn/Fe ratio of 5. This constitutes Tshipi’s lowgrade ore that is either mined and blended with average grade ore, or sold as standalone low-grade product.

The middle manganese orebody (“MMO”) is generally less than 1 m in thickness and of low manganese content.

The upper manganese orebody (“UMO”) exhibits variable thickness from several meters to several tens of meters with sympathetic increases in manganese content.

The Kalahari Manganese Field, which is 35km long and 15km wide, is the largest Mnbearing geological formation in the world. Tshipi Borwa Mine is an open pit Mn mine with an integrated ore processing plant. Tshipi Borwa Mine is located on the southwestern outer rim of the Kalahari Manganese Field, hence the ore resources are shallower and more amenable to open pit mining.

The Tshipi Borwa ore body commences at a depth of 70m below the surface and the ores are contained within a 30m-45m thick mineralised zone which runs along the entire Borwa Property. The ore layer dips gradually to the northwest at about 5 degrees. Tshipi’s strategy is to mine and process the lower 15m of the mineralised zone, commonly known as the bottom cut, as it bears higher-grade ores. A portion of the upper 15m mineralised zone, referred to as the top cut, is planned to be stockpiled for possible use later.

Mining at Tshipi is a relatively simple truck and shovel open cast operation. Once exposed, the Mn ores are drilled, blasted and loaded onto trucks and hauled to the main ROM stockpile.

Tshipi (Tshipi é Ntle Manganese Mining (Pty) Ltd.) owns a Mn property in the Kalahari Manganese Field in the Northern Cape of South Africa.

Tshipi Borwa Mine is an open pit Mn mine with an integrated ore processing plant. Once exposed, the Mn ores are drilled, blasted and loaded onto trucks and hauled to the main ROM stockpile.

The ROM stockpile feeds the processing plant which is designed to treat 3.3m3.6m tonnes p.a. of Mn ores. These products are stockpiled before loading through a stateof-the-art load-out station onto railway trains or road trucks. Inland transportation of Mn products from the mine site is carried out by rail, and complemented by a combination of road and rail solutions to increase logistics capacity. Tshipi’s products are then exported through: a) the Port Elizabeth bulk terminal; b) the Port Elizabeth multi purpose terminal; or c) the Saldanha multi-purpose terminal.