RBCT’s readiness for 91 million tonnes

1. Richards Bay Coal Terminal:McCloskey’s Coal Export ConferenceSouth Africa : 4-6 February 2009Is RBCT ready to export 91 million tonnes? Raymond ChirwaChief Operating Officer

2. RBCT’s readiness for 91 million tonnes • RBCT: SA’s growing export link • RBCT’s export capabilities vs imports • Synchronising rail and port expansions • Over-subscription to coal terminal – Phase VI?

3. RBCT : SA’s growing export link • 1972: TCOA contract with Japanese Steel Mills for 27 Mt over 10 yrs • 1976: Port of Richards Bay officially opened • 1976: RBCT started exports with Phase 1 at 12 Mt/a capacity • 1979: Phase 2 completed: total capacity 24 Mt/a • 1984: Phase 3 completed: total capacity 44 Mt/a • 1991: Phase 3 Upgrade exercise: increased to 63 Mt/a • 1999: Brown-fields expansion: total 72 Mt/a • 2008: Remodelling of rail increased capacity to 76Mt/a • 2009: Phase V (to be) completed: increase to 91 Mt/a All the above happens & should happen with the much needed engagement & strategy alignment with key partners and stakeholders

4. RBCT – SA’s growing export link

5. Vision To be the terminal of choice, optimising stakeholder value

6. Mission RBCT provides a valued link in South Africa’s coal export chain, to the benefit of all stakeholders

7. Core Values • GROWTH • RELIABILITY • EFFICIENCY • ACCOUNTABILITY • TRUST

8. Our Business RBCT is primarily a logistics operation with the key purpose of offloading of coal trucks, managing exporters’ stock piles and loading of vessels, in a safe, responsible, reliable, efficient and cost-effective manner with due regard to sustainability imperatives

9. RBCT’s Actual Exports – past 4 years • 2005 - All time record of 69.2 Mt exported (96% of terminal capacity of 72 Mt/a) • 2006 - A total of 66.5 Mt exported • Sep 2006 – All time 24-hr ship-loading record - 409 809 t (150Mt/a) • 2007 - A total of 66.1 Mt exported • 2008 - A total of 61.8 Mt exported • No significant RBCT internal challenges to declining exports • RBCT remains a dispatch & not a demurrage terminal • RBCT is a reliable and efficient World class terminal

10. RBCT Imports 1996 - 2008

11. RBCT Exports 1996 - 2008

12. RBCT Export Destinations by Continent

13. Phase V Expansion • Three elements to 19 Mt expansion • 4 Mt for emerging BEE miners with modest export volumes • 6 Mt for SDCT with at least 66% BEE • 9 Mt access through a subscription process ranked in line with BBBEE requirements • Subscription process to 9 Mt/a: • Received 26 applications - 18 eligible applicants - 19.05 Mt • 8 B-BBEE ranked successful applicants – 9 Mt • 10.05 Mt – still to be catered for • Allocations awarded based on fulfilling all applicable conditions

14. Phase V Expansion • Total project cost R1.2 bn • In line with global lowest cost coal-terminal expansions • Underwritten by existing shareholders • Current shareholders relinquish their pre-emptive rights to the expansion capacity • Now in the final construction, testing and commissioning phase • Project is on track for commissioning on 1 July 2009

15. Phase V Expansion Quay, C731 and C732 extension Tidal channel realignment K,L-line extensions C623 C460 SR6 I-line C508 INGO 3 C16 TT3 Electrical reticulation expansion HYDRA, SUB1, 4, 6 and 9 Rail loop extension TCS Replacement Relocate C&W Depot

16. The New 91 Mt/a RBCT Ownership * 72 Mt * 4 Mt 6 Mt 9 Mt Anglo Operations Ltd 19.80 BHP Billiton Energy Coal SA Ltd 17.95 Xstrata SA (Pty) Ltd 15.05 Optimum Coal Terminal (Pty) Ltd 6.50 Total Coal SA (Pty) Ltd 4.09 Sasol Mining (Pty) Ltd 3.60 Kangra Coal (Pty) Ltd 1.65 Siyanda Resources 1.50 Exxaro Coal (Pty) Ltd 1.00 Eyesizwe Coal (Pty) Ltd 0.86 Made available via the Coal Industry Task Team for new entrants Now to be specifically available for emerging BEE miners with export volumes of 250 ktpa or less The new shareholder component of South Dunes Coal Terminal Two thirds BEE with primary shareholders : Kumba 2 Mt Eskom Enterprises 1Mt Golang Coal 3 Mt • Awarded as follows • Yomhlaba Resources Ltd: 0.50mtpa • Mbokodo Mining : 0.50 mtpa • Umcebo Mining: 1.00 mtpa • ARM Coal : 3.20 mtpa • Tumelo Coal Mines: 0.60 mtpa • Mmakau Mining: 0.35 mtpa • Exxaro Coal : 2.50 mtpa • Worldwide Coal Carolina: 0.35 * Based on entitlement

17. Phase VI (B91Mt) : Capacity Demand Analysis • Alexander Forbes Risk Services analysis based on Phase V process • Coal Resources • 28.6bn of Govt approved coal reserves in SA • Currently 10 Mt/a pre-qualifying tonnage did not get access • Sufficient coal reserves to support exports and domestic market • “Sea-borne” Market Demand • Growth of 8% p.a. worldwide past 10 yrs compared to SA’s 2% • Growth in demand of approx 1.5 Mt/a for SA coal (1.5% - 2%) • RBCT can export >100 Mt/a in 5 yrs from reaching the 91 Mt/a

18. B91Mt: Transnet • TFR • Constraints management to & beyond 91Mt/a - critical • Major Capex to achieve & exceed 91 Mt/a • TNPA • Additional ±15 haof land required for stockpile capacity • Capital requirements for additional Berth

19. B91Mt: RBCT Expansion Possibilities • Expansion of off-loading, stockpiling and shipping equipment • Various options exist in terms of infrastructure additions/upgrades • The challenge still remains various stakeholders’ approval, e.g., EIAs • Estimated Project planning & timing • RBCT is firstly & firmly committed to completing PHV expansion • Getting the Terminal to 86 Mt/a towards 91Mt/a throughput • Expansion of the terminal is dependent upon an economically sustainable business case to meet future demand

20. Is RBCT ready for 91 million tonnes? • RBCT was ready to export 76 Mt/a as at January 2008 • RBCT, as a terminal, will be ready to export coal that reaches the terminal, at a 91 Mt/a rate commencing 1 July 2009 • In fact we are ready to, even expand beyond 91 million tons provided there is a sound and sustainable business case and all logistical strategies are in synch!

21. Any Questions?