Table 6: Resource Life

Table 6. Average reserve life and resource life (years) for selected commodities as at December 2017

Commodity Operating Mines1 All Deposits
Ore   Reserves2 Demonstrated Mineral Resources3 All Resources4 Ore Reserves5 AEDR6 All Resources7
Bauxite 9 25 54 25 70 110
Black Coal 23 51 72 33 120 295
Copper 23 82 117 27 100 160
Diamond 2 2 3 2 2 3
Gold 10 23 30 13 35 50
Ilmenite 11 39 51 38 165 359
Iron Ore 11 20 56 27 55 175
Lead 22 66 80 25 80 135
Lithium 47 67 122 79 133 224
Manganese Ore 18 35 41 18 40 140
Nickel 10 29 35 30 110 240
Rutile 7 27 34 22 95 227
Silver 17 59 75 22 80 120
Tin 24 30 43 36 60 125
Uranium 51 284 488 53 230 405
Zinc 22 56 70 30 80 125
Zircon 9 29 34 40 145 283

Notes
Reserve and resource life for each mineral commodity is calculated by dividing the inventory by production. The resulting ratio is a snapshot in time that can only be used for general impressions because it is an average and it assumes (1) that production rates in the future will remain the same as those used in the calculation, (2) deposits deemed economic/uneconomic remain so in the future and (3) that depleted resources are never replaced.

1. Operating mines includes all mines that operated during 2017 and thus contributed to production (see Table 1).

2. Ore Reserves as reported in compliance with the JORC Code, plus non-JORC Code equivalents (see Table 1).

3. Measured and Indicated Mineral Resources, inclusive of Ore Reserves, as reported in compliance with the JORC Code, plus non-JORC Code-equivalents (see Table 1).

4. All Resources for Operating Mines includes Measured, Indicated and Inferred Mineral Resources, inclusive of Ore Reserves, as reported in compliance with the JORC Code, plus non-JORC Code-equivalents (see Table 1).

5. Ore Reserves as reported in compliance with the JORC Code, plus non-JORC Code equivalents (see Table 2).

6. AEDR = Accessible Economic Demonstrated Resources (see Table 3). Figures rounded to nearest five years.

7. All Resources for All Deposits includes EDR, Subeconomic Demonstrated Resources and Inferred Resources. Figures rounded to nearest five years (see Table 3).