· Satisfactory performance in 2009, despite significant challenges:
o Sales of 682,955 ounces of platinum – 2% below initial guidance for Marikana
o Rand gross operating costs lower than guidance
o Mining - consistent underlying performance, with Saffy and Hossy achieving ramp-up targets
o Process Division - progress made, despite previously reported Number One furnace incident
o Safety performance continues to improve - Lost Time Injuries fell 8%, LTIF rate improved
· Management actions taken in 2009:
o Non-value adding production eliminated – 75,000 Platinum ounces removed from market
o Major cost restructuring program completed
o Balance Sheet strengthened
o Operational headquarters and executive management team to relocate
· Key focus areas for 2010 and beyond:
o Continuing the restoration of Lonmin’s operational health
o Delivering organic growth into a recovering market
o Improving our position on the cost curve
o Discussions ongoing regarding the future of Incwala Resources