One of Antam’s competitive advantages is its vast high quality reserves and resources. For a mining company, the future profitability and existence of the company all boils down to the size and quality of its reserves. In this age of commodity scarcity we can see the value mining companies place on possessing ore reserves with the premiums mining companies were willing to pay in order to acquire deposits through merger and acquisition activity.
 

While Antam has several decades of production remaining in terms of its nickel ore and bauxite, it is actively seeking gold in order to replace its depleting gold reserves. Exploration is a key factor to sustain growth in terms of making new discoveries and also increasing the mineral classification to a more accurate level, which can then acquire funds for development.

Finding or acquiring new reserves is key to Antam’s strategy of continuing to focus on its core business and on sustainable growth.

Mineral Resources and Ore Reserves (‘000 wmt)*

Commodity	Ore Quantity		Change
	2006	2007	%
Saprolite Nickel	179,850	180,900	1
Limonite Nickel	185,150	214,200	16
Gold	3,863	3,973	3
Bauxite	84,400	81,600	(3)

Proved and Probable Reserves (‘000 wmt)*

Commodity	Ore Quantity		Change
	2006	2006	%
Saprolite Nickel	63,900	55,100	(14)
Limonite Nickel	51,450	50,150	(3)
Gold	2,882	3,026	5
Bauxite	84,400	73,100	(13)

* Based on the Competent Person’s report. Figures as per December 31, 2007 (Inferred resources were included in gold estimation).
Please see detailed tables in this section.
** For illustrative purposes only
*** Without Further Exploration or Increased Production / Development


Archive: Annual Reserves and Resources Table:

• 2006 Reserves and Resources
• 2005 Reserves and Resources
• 2004 Reserves and Resources
• 2003 Reserves and Resources
• 2002 Reserves and Resources