1959 Exploration Starts

1. 1980 O2 plant commissioning smelter throughput up 25% 1970 Phikwe 1&2 sunk 1989 High Ni Prices 1983 Shaft No 3 Commissioned 1972 Open pit (Selebi shaft closed) 1980 Smelter upgrade 40k to 50k 1959 Exploration Starts 1980 Commencement of No 1 1973 Plant commissioned first matte cast produced 1984 Change in refinery contracts 1980 Reliability improvement on flash 1962 Selebi Discovered 1962 Drilling Commenced 1980 Selebi Underground mining restarted. Open pit decommissioned 1985 BCL financial restructuring 1967 Selkirk discovered 1987 4th major shutdown 1969 Shashe Dam built – water supply 1980 3rd major shutdown Pre 1970 1970 1975 1980 1985 1990 1980 Sir Seretse Khama died : Country’s first president 1975 Major work strike Starts

2. 2007 Highest Ni Cu prices 1986 Low Ni & Cu Prices 1989 High Ni Prices 1991 low Ni price 1998 2nd O2 line commissioned 2002 3rd O2 Plant commissioned 1990 S/North Shaft opened 2002 AAC pulls out Lion Ore acquires shares 2004 New BCL logo 1995 3rd Converter installed 2002 R/S roof failure, near loss of smelter 2005 record metal Prod. 2002 SST introduced 1995 CSCV installation 2004 exploration starts 1998 Nkomati Con 1995 Phoenix ore intro 1989 LOM expected to be 2002 2003 U/S roof failure, near loss of smelter 2005 TSI at 1480 ml TSI -810 starts 1480 1991 financial restructuring 1998 EF loan obtained 2000 2nd EF loan obtained 1989 1st SYSMIN loan 1995 5th Major shutdown 2003 Company restructuring 2004 Major shutdown 2004 union shake up. High mgt turnover 1985 1990 1995 2000 2005 1997 – 2001 Pronounced HIV /AIDS deaths