View settings100% · M+I+I · Resources excl. reserves · Native commodities

Reporting assumptions

These choices persist and are added to shared URLs.

Ownership basis

Show the full project inventory before ownership adjustment.

Display scale

Display contained quantities in millions of ounces or tonnes.

Resource treatment

Normalise Resources to exclude Reserves: where a project is flagged inclusive, net Reserves out of Resources so the figure is additional Resources beyond Reserves. Unknown-convention rows are shown as stated.

Resource total

Total Resource includes Inferred (JORC convention). Totals are re-derived from category rows wherever the document discloses them.

Recovery basis

Show the issuer's headline recoverable figure as reported. Lithium-brine reserves already have the brine-processing recovery factor applied; everything else is shown as stated.

Commodity view

Primary view: each commodity in its own contained unit (oz / t).

Niquelândia

Goiás, Brazil · Producing · 100.0% ownedUnverified

Current R&R by category

Whole-project rollup at the latest vintage per category: printed project-level rows are preferred, and mining areas are summed (tonnes-weighted grade) only where the issuer prints no project-level row. Per-area and per-source detail in the Current R&R table below.

Category	Tonnes (Mt)	Grade (% Ni)	Contained (Mt Ni)	As at
Measured	—	—	—	—
Indicated	1.90 Mt	1.23%	0.02 Mt Ni	31 Dec 2025
M&I = Measured + Indicated (overlaps both)	1.90 Mt	1.23%	0.02 Mt Ni	31 Dec 2025
Inferred	4.60 Mt	1.12%	0.05 Mt Ni	31 Dec 2025
Total Resources	6.50 Mt	1.15%	0.07 Mt Ni	31 Dec 2025
Proved	—	—	—	—
Probable	5.40 Mt	1.26%	0.07 Mt Ni	31 Dec 2025
Total Reserves	5.40 Mt	1.26%	0.07 Mt Ni	31 Dec 2025

M&I is the issuer's printed Measured + Indicated subtotal — it overlaps the Measured and Indicated rows and is never added alongside them; the Total rows and every rollup already exclude it.

Cut-off grade

0.9000 % Ni

Price assumption

—

JORC code year

2012

Peer benchmark — producing Ni projects (17 with resources)Resource size P21Resource grade P32View on grade-tonnage chart →

Percentile of this project's current total Resource among covered peers (P100 = largest / highest grade). Basis and Inferred toggles apply.

Data quality

Latest source: Anglo American plc - Ore Reserves and Mineral Resources Report 2025 (dedicated annual R&R statement, as at 31 Dec 2025) · 31 Dec 2025
Reporting code: JORC 2012
Convention: exclusive
Currency assumption: GBP
Disagreement flags: 3 rows

Current R&R

Resources

Area	Category	Tonnes (Mt)	Ni		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (% Ni)	Contained (Mt Ni)	As at	Source	Provenance
Total	Total Resources	6.50 Mt	1.15%	0.07 Mt Ni	31 Dec 2025	derived from 3 rows Indicated: 96

Ferruginous laterite

Inferred

3.60 Mt

1.07%

0.04 Mt Ni

31 Dec 2025

24Unverified

notes (2)

Source: Anglo American plc - Ore Reserves and Mineral Resources Report 2025 (dedicated annual R&R statement, as at 31 Dec 2025) · published 02 Mar 2026

Ref: 24

JORC 2012 — Reporting code of record: JORC 2012

QA notes:

QA INFO: inclusive-of-reserves flag cleared on an inferred row — reserves derive from M&I only, so the flag is meaningless on inferred. QA WARN: identical figures appear under ANOTHER area label of this project in the same document — likely one printed estimate stored twice (a summary/grouping line duplicating its leaf). Keep one copy; reject the relabelled twin. QA WARN: this row's figures print only inside a reconciliation/movement table ('Net Difference' / 'Reconciliation of Mineral Reserves') — movement lines are year-over-year deltas, not statements (t67 BVN class). REJECT unless the same figure also prints in a statement table. QA WARN: mining_area 'Ferruginous laterite' equals the sum of sibling areas (arithmetic subtotal), not a leaf area — approving it alongside the leaf areas double-counts. Reject it (or reject the leaves) before approval. QA INFO: recompute differs 1.37% from the printed contained figure, but the printed tonnes/grade/contained carry ±3.17% rounding granularity (capped per component; the true half-step band of coarse prints is wider) and the remainder sits under the warn threshold — treated as reconciled. QA INFO: identical figures to area(s) 'Ferruginous laterite – Total Inferred' — likely the same printed line under two labels (a summary and a detail table); keep one label and reject the other.

Saprolite

Inferred

1.00 Mt

1.29%

0.01 Mt Ni