Gold Fields Australia Mine Site Briefing 1 st October 2012 Tim - - PowerPoint PPT Presentation
Gold Fields Australia Mine Site Briefing 1 st October 2012 Tim - - PowerPoint PPT Presentation
Gold Fields Australia Mine Site Briefing 1 st October 2012 Tim Gilbert Vice President Operations Ted Lambourne GM St Ives Gold Mine Forward looking statements Certain statements in this document constitute forward looking
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Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. In particular, the forward looking statements in this document include among others those relating to the Damang Exploration Target Statement; the Far Southeast Exploration Target Statement; commodity prices; demand for gold and other metals and minerals; interest rate expectations; exploration and production costs; levels of expected production; Gold Fields’ growth pipeline; levels and expected benefits of current and planned capital expenditures; future reserve, resource and other mineralisation levels; and the extent of cost efficiencies and savings to be achieved. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly taxation and environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; the availability and cost of raw and finished materials; the cost of energy and water; inflation and other macro-economic factors, industrial action, temporary stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS and other occupational health risks experienced by Gold Fields’ employees. These forward looking statements speak only as of the date of this document. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
Forward looking statements
South America West Africa South Africa Australasia Total Resources1 7.7Moz 25.2Moz 160.2Moz 9.2Moz 234.4Moz3 Reserves1 6.1Moz 13.7Moz 61.1Moz 4.1Moz 85.1Moz Production2 383koz 935koz 1.7Moz 659koz 3.7Moz Number of mines 1 2 3 2 8
MALI Yanfolila GHANA Tarkwa Damang SOUTH AFRICA KDC South Deep Beatrix PERU Cerro Corona Chucapaca AUSTRALIA Agnew St Ives PHILIPPINES Far South East Perth Beijing Johannesburg Santiago Lima Vancouver Denver
Offices Mines Exploration Projects GFI 100% | GFI 40%, option to increase to 60% | JV GFI Operated | GFI Operated
FINLAND Arctic Platinum Project
1. Managed gold equivalent Mineral Resources and Reserves as at 31 December 2011 2. Managed gold equivalent production for 2011 3. The total managed gold equivalent Mineral Resources as at 31 December 2011 includes the managed gold equivalent ounces of the growth projects
Gold Fields at a Glance
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Gold Fields in Western Australia
St Ives - Lefroy Processing plant Agnew Processing plant
December 2001, Gold Fields bought St Ives and Agnew for A$472M from Western Mining Corporation; St Ives has since mined …
63Mt of ore 92M bcm of waste And sold over 5MOzs of gold
Agnew, the higher grade little brother …
11Mt of ore 19M bcm of waste And sold nearly 2MOzs of gold
We have established a reputation and
commitment as a major and sustainable gold mining company in Australia.
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Gold Fields - Celebrating 10 Years in Australia
Vision
To be the global leader in sustainable gold mining
Values
Safety
If we cannot mine safely, we will not mine
Responsibility
We act responsibly and care for the environment, each other, and all of
- ur stakeholders - our employees, our communities and our
shareholders
Honesty
We act with fairness, integrity, honesty and transparency
Respect
We treat each other with trust, respect and dignity
Innovation
We encourage innovation and entrepreneurship
Delivery
We do what we say we will do 6
This is who we are
Our Identity
Gold Fields – a significant miner in WA
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C2011 St Ives Agnew Production (kOz) 465 194 Cash cost $873 $672 NCE $1248 $1062 Reserves (Moz) 2.8 1.3 Resources (Moz) 5.3 3.8
Our focus is on sustainability, cost, shareholder return and extending the mine life A major cost improvement initiative has been the move to owner-miner at both
sites
Agnew 2010 (underground) St Ives 2011 (underground) St Ives 2012 – 2013 (open pit)
Retain specialist contractors for underground development Owner-mining for improved value
removal of contractor’s margin
Minimise duplication of service contracts Better control by site personnel Optimising resources of both the open pit and underground operations
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Gold Fields – continuing to be a significant miner in WA
Key Drivers - Sustainability, operational efficiencies and mine life
Australasia Region
- St Ives steady state production 450koz p.a.
- Agnew to recover to ~160 Koz p.a.
- Q2 2012 NCE margin 3%
- Chunky capital on life extensions and owner mining conversion
- Transition to owner mining at St Ives completed by Q1 2013
St Ives at steady state, Agnew back on track
20 40 60 80 100 120 140 160 180 200 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012
Australasia Region Production (koz)
- St. Ives
Agnew Page 9
St Ives Gold Mine – Owner Mining Transition
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Equipment
Komatsu – Load and Haul Atlas Copco – Drill and blast
Construction
New Workshop Warehouse Upgrade
Recruitment
Approx 190 persons
Technical developments
Safety Procedures Training materials
Systems
Inventory Control Fleet and Maintenance Management
St Ives Gold Mine – Owner Mining Transition
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Owner Mining Project - Status Mining Operations
Emphasis on safety Mining commenced on 24th June, 24hr operation commenced 1st August Hire equipment assembled and commissioned for transition (4x777F, PC2000, water
cart, service truck)
Komatsu equipment is arriving on site (2 x graders, 2 x dozers, 2 x HD785 trucks)
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St Ives Potential
Project Generation Delivery YTD
49 Targets Drilled with 83,090m 15 Targets Turned Over 9 Advanced 6 Inactive 15 Projects Assays Pending 10 Due for Project Review/Evaluation 9 Being Drilled One quality discovery at Invincible
H1 2012 Project Generation Drilling by Milestone
Invincible Area Black Idough Hippodrome Jargo West Poseidon
St Ives Opportunity
Invincible
Geochem & Spectral anomaly 100% on Lake Lefroy 8km direct line from the Mill >1km strike of Speedway Shear Open to NW & Down Dip 18 DD Holes Drilled to Date Results for 12 Holes Received
Only 1 Sub-grade
Significant Results Received Including
17m @ 10.9g/t from 127m 12.1m @ 12.9g/t from 64m 29.8m @ 4.85g/t from 197m
Cave Rocks Neptune Leviathan Argo N Lev Invincible Arg Incredible
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St Ives – Invincible
Exciting New Discovery in Major High Grade Corridor
Cave Rocks Neptune Leviathan Argo Invincible
Existing ug mines Existing op mines
Cave Rocks Ne Nep Leviathan vincible
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St Ives – Cave Rocks Extension
Potential for Two Years Plus Life Extension
Coloured blocks indicate three-year mining plan
Depth 500m South 9m @5.2g/t 3m @37.4g/t 5m @2.8g/t 5m @2.4g/t 2 4g/ 9m 3m @3
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Agnew
St Ives - Lefroy Processing plant Agnew Processing plant
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Agnew
Waroonga: Planned Exploration 2012
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Yeoman Target Hastings Shoot Fitzroy & Bengal Shoots Link Target Completed Stopes Reserve Stopes
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Agnew – An exciting proposition
Main North Main South Kim South 450 South
Kim Fault
Kim North
North
Kim South Extensional Fitzroy Link
Waroonga Overview Long Section
Waroonga Long Section – Kim/Fitzroy Intersections and G*M Isolines
Agnew
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5.1m @ 12.2g/t 10.7m @ 9.9g/t 5.6m @ 22.5g/t 13.6m @ 8g/t 3.4m @ 22.7g/t 6.8m @ 9.4g/t 5.8m @ 10.8g/t 12m @ 27g/t 21.5m @ 9.5g/t 9.5m @ 4g/t 8.4m @ 12.3g/t 15.9m @ 5g/t 5m @ 13.6g/t
Kim Fitzroy
4.4m @ 5.7g/t
Agnew Opportunity
Continuation of Kim at depth Grade typically has a positive
reconciliation
Full extent of FBH becoming clearer as
drilling progresses
The “Link Area” has significant upside Size the operation to maximise cash
flow and profit
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