Kimberlite

Volcanic rock formations that may contain diamonds.

Leaching

A chemical process for the extraction of valuable minerals from ore  
(see Heap Leaching above).

Measured Mineral 
Resource*

That part of a Mineral Resource for which quantity, grade or quality, 
densities, shape, and physical characteristics are so well established that 
they can be estimated with confidence sufficient to allow the appropriate 
application of technical and economic parameters, to support production 
planning and evaluation of the economic viability of the deposit. The 
estimate is based on detailed and reliable exploration, sampling and testing 
information gathered through appropriate techniques from locations such 
as outcrops, trenches, pits, workings and drill holes that are spaced closely 
enough to confirm both geological and grade continuity.

Mill

A processing facility where ore is finely ground and thereafter undergoes 
physical or chemical treatment to extract the valuable metals.

Mine mouth

The place at which minerals leave a mine.

Mineral

A substance that may or may not be of economic value, which occurs 
naturally in the earth. It is homogeneous, has a certain chemical 
composition, and appears in crystal or grain form.

Mineral Reserve*

The economically mineable part of a Measured or Indicated Mineral 
Resource demonstrated by at least a Preliminary Feasibility Study. 
This Study must include adequate information on mining, processing, 
metallurgical, economic and other relevant factors that demonstrate, at 
the time of reporting, that economic extraction can be justified. A Mineral 
Reserve includes diluting materials and allowances for losses that may 
occur when the material is mined. Mineral Reserves are sub-divided in 
order of increasing confidence into Probable Mineral Reserves and Proven 
Mineral Reserves.

Mineral Resource*A concentration or occurrence of diamonds, natural solid inorganic material, 

or natural solid fossilized organic material including base and precious 
metals, coal, and industrial minerals in or on the Earth’s crust in such 
form and quantity and of such a grade or quality that it has reasonable 
prospects for economic extraction. The location, quantity, grade, geological 
characteristics and continuity of a Mineral Resource are known, estimated 
or interpreted from specific geological evidence and knowledge. Mineral 
Resources are sub-divided, in order of increasing geological confidence, 
into Inferred, Indicated and Measured categories.

Mining claim

That portion of applicable mineral lands that a party has staked or marked 
out in accordance with applicable mining laws to acquire the right to explore 
for and exploit the minerals under the surface.

Net profits interest 
(NPI)

A royalty that is based on the net profit from the mine.

Net smelter return 
(NSR)

A royalty that is based on the gross value of the metal produced less 
transportation, smelting, and refining charges.

© 2013 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms 
affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

 Glossary 

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