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PIL BARA INF RAST RUCT URE A NE W L ANDSCAPE PIL BARA INF RAST RUCT URE A NE W L ANDSCAPE Inve stor Pre se nta tion Nove mbe r 2013 AJM Globa l Iron Ore & Ste e l F ore c a st Confe re nc e 11&12 Ma rc h 2014
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T his pre se nta tio n ha s b e e n pre pa re d b y a nd issue d b y Bro c kma n Mining L imite d (“Bro c kma n” o r “the Co mpa ny”) to a ssist it in info rming inte re ste d pa rtie s a b o ut the Co mpa ny. I t sho uld no t b e c o nside re d a n invita tio n o r o ffe r to sub sc rib e fo r o r purc ha se a ny se c uritie s in the Co mpa ny o r a s a n ind uc e me nt to ma ke a n o ffe r o r invita tio n with re spe c t to tho se se c uritie s. No a g re e me nt to sub sc rib e fo r se c uritie s in the Co mpa ny will b e e nte re d into o n the b a sis
T his pre se nta tio n c o nta ins fo rwa rd lo o king sta te me nts. While Bro c kma n ha s no re a so n to b e lie ve tha t a ny sta te me nts a re e ithe r fa lse , misle a d ing o r inc o rre c t, it c a nno t g ua ra nte e tha t thro ug h e ithe r pa ssa g e o f time o r a c tio ns b e yo nd the c o ntro l o f Bro c kma n, the y will no t b e c o me so . Yo u sho uld no t a c t o r re fra in fro m a c ting in re lia nc e o n this pre se nta tio n ma te ria l. T his o ve rvie w o f Bro c kma n d o e s no t purpo rt to b e a ll inc lusive o r to c o nta in a ll info rma tio n whic h its re c ipie nts ma y re q uire in o rde r to ma ke a n info rme d a sse ssme nt o f the Co mpa ny’ s pro spe c ts. Yo u sho uld c o nduc t yo ur o wn inve stig a tio n a nd pe rfo rm yo ur o wn a na lysis in
in this pre se nta tio n b e fo re ma king a ny inve stme nt d e c isio ns. T he re a re a numb e r o f risks, b o th spe c ific to Bro c kma n a nd o f a g e ne ra l na ture whic h ma y a ffe c t the future o pe ra ting a nd fina nc ia l pe rfo rma nc e o f Bro c kma n a nd the va lue o f a n inve stme nt in Bro c kma n inc lud ing a nd no t limite d to e c o no mic c o nd itio ns, sto c k ma rke t fluc tua tio ns, iro n o re d e ma nd a nd pric e mo ve me nts, a c c e ss to infra struc ture , timing o f e nviro nme nta l a ppro va ls, re g ula to ry risks, o pe ra tio na l risks, re lia nc e o n ke y pe rso nne l, re se rve a nd re so urc e e stima tio ns, na tive title a nd title risks, fo re ig n c urre nc y fluc tua tio ns, a nd mining de ve lo pme nt.
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* E stima te d e xc lud ing T ra nspo rt Se rvic e s disc o ntinue d o pe ra tio n
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* Refer Appendix 2 for detail
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KE Y ST AT IST ICS Mining Re se rve (JORC) *
1.05 Bt (Pro ve n: 133 Mt Pro b a b le : 916 Mt)
F ina l produc t a nd g ra de
419 millio n to nne s a t 60.5–61.5% F e
Mining Ope ra tions
a nd sho ve l
re e d ig g ing
0.8:1 o ve r life o f mine
Annua l produc tion
Up to 20 Mtpa (we t)+
F irst produc tion
Sub je c t to c o nfirma tio n
so lutio n
Mine life (initia l)
Ove r 20 ye a rs
+ Refer ASX announcement for Brockman Resources Limited dated 29 September 2010. *Refer Appendix 2 for detail of Reserves and Resources.
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Source: various public releases
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Supreme Court Action seeking Judicial Review of ERA’s Section 10 and Floor and Ceiling determinations and a Declaration that Brockman’s Access proposal does not enliven the Code Currently developing the s.14/15
submission is subject to receiving further information through the Mandatory Injunction proceeding Currently developing the s.14/15
submission is subject to receiving further information through the Mandatory Injunction proceeding
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2008
No rth We st I nfra struc ture (NWI ) e sta b lishe d jo int ve nture c o mpa ny (Bro c kma n Mining L imite d (37%); Atla s I ro n L imite d (63%)
2009
NWI g ra nte d a 50 Mtpa a llo c a tio n b y the We ste rn Austra lia n Sta te Go ve rnme nt to d e ve lo p two b e rths a nd a sso c ia te d sto c kya rds in Po rt He dla nd
2011
De ta ile d e ng ine e ring stud y o n po rt d e ve lo pme nt c o mple te d . Na tive T itle a nd E nviro nme nta l a ppro va ls ha ve b e e n g ra nte d
2012
T wo b e rth a llo c a tio ns in inne r ha rb o ur re -a ffirme d b y We ste rn Austra lia n Ministe r fo r T ra nspo rt
2012
F urthe r stud ie s c o nd uc te d to o ptimise la yo ut a nd d e sig n fe a ture s o f NWI po rt fa c ilitie s
Unde r wa y
De ve lo pme nt Ag re e me nt a nd Ag re e me nt to L e a se unde r ne g o tia tio n b e twe e n NWI a nd Po rt He d la nd Po rt Autho rity (PHPA)
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*E xplo ra tio n re sults fo r Sirius we re re po rte d in ASX a nno unc e me nt da te d 20 De c e mb e r 2013. T he upg ra d e d Mine ra l Re so urc e fo r Sirius wa s re po rte d in ASX a nno unc e me nt d a te d 10 Ma rc h 2014. Bro c kma n is no t a wa re o f a ny ne w info rma tio n o r d a ta tha t ma te ria lly a ffe c ts the info rma tio n inc lude d in tho se re po rts.
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*E xplo ra tio n re sults fo r Co o ndine r we re re po rte d in ASX a nno unc e me nt d a te d 20 De c e mb e r 2013. Bro c kma n is no t a wa re o f a ny ne w info rma tio n
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2010 DE S c o nfirme d Ma rilla na Pro je c t is fina nc ia lly ro b ust a nd lo ng life 2011 F E E D c o mple te d , inc lud ing furthe r e ng ine e ring a nd o ptimisa tio n studie s 2011 Na tive T itle a g re e me nts a nd ke y e nviro nme nta l a ppro va ls fina lise d a nd a ppro ve d 2013 F ina nc ing initia tive s und e rwa y
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2O 3
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Mine ra l Re so urc e s a re inc lusive o f Ore Re se rve s
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2O 3
Mine ra l Re so urc e s a re inc lusive o f Ore Re se rve s
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2O 3
*Ca F e re pre se nts c a lc ine d F e a nd is c a lc ula te d b y Bro c kma n using the fo rmula Ca F e = F e % / ((100-L OI %)/ 100)
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*Ca F e re pre se nts c a lc ine d F e a nd is c a lc ula te d b y Bro c kma n using the fo rmula Ca F e = F e % / ((100-L OI %)/ 100) De posit Cla ss T
(Mt) F e (% ) Ca F e * (% ) SiO 2 (% ) Al2O 3 (% ) S (% ) P (% ) L OI (% )
K a lg a n Cre e k I nd ic a te d 12.5 59.25 62.64 4.02 4.79 0.007 0.20 5.41 I nfe rre d 39.7 59.07 62.55 4.53 4.55 0.005 0.17 5.56
Sub T
52.1 59.11 62.56 4.41 4.60 0.006 0.18 5.52
Co o ndine r (Pa lla s a nd Ca sto r) I nd ic a te d 82.5 58.10 61.65 5.61 4.48 0.008 0.17 5.76 I nfe rre d 46.4 58.70 62.08 5.37 4.40 0.006 0.18 5.44
Sub T
128.9 58.32 61.77 5.52 4.45 0.008 0.17 5.64
Sirius I nd ic a te d 105.0 60.35 63.67 3.54 3.97 0.007 0.18 5.22 I nfe rre d 19.0 60.15 63.41 4.09 3.83 0.009 0.17 5.14
Sub T
124.0 60.32 63.63 3.62 3.95 0.177 0.01 5.20 Ophtha lmia Proje c t Indic a te d 200.0 59.35 62.77 4.42 4.23 0.007 0.18 5.45 Infe rre d 105.1 59.10 62.50 4.82 4.35 0.006 0.17 5.43 T
305.0 59.11 62.56 4.41 4.60 0.006 0.18 5.52
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*Ca F e re pre se nts c a lc ine d F e a nd is c a lc ula te d b y Bro c kma n using the fo rmula Ca F e = F e % / ((100-L OI %)/ 100)
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T he info rma tio n in this p re se nta tio n tha t re la te s to Mine ra l Re so urc e s a nd Ore Re se rve s a t Ma rilla na a nd Op htha lmia is b a se d o n info rma tio n c o mpile d b y Mr I Co o pe r, Mr J F a rre ll a nd Mr A Zha ng . T he info rma tio n in this pre se nta tio n tha t re la te s to Mine ra l Re so urc e s a t Duc k Cre e k is b a se d o n info rma tio n c o mpile d b y Mr A Zha ng . T he Ore Re se rve s sta te me nt fo r Ma rilla na ha s b e e n c o mpile d in a c c o rda nc e with the g uide line s de fine d in the Austra la sia n Co de fo r Re po rting
xplo ra tio n Re sults, Mine ra l Re so urc e s a nd Ore Re se rve s (T he JORC Co de – 2004 E ditio n). T he Ore Re se rve s ha ve b e e n c o mpile d b y Mr I a in Co o p e r, who is a Me mb e r o f Austra la sia n I nstitute o f Mining a nd Me ta llurg y a nd a full time e mp lo ye e o f Go lde r Asso c ia te s Pty L
ha s suffic ie nt e xpe rie nc e in Ore Re se rve e stima tio n re le va nt to the style o f mine ra lisa tio n a nd type o f d e po sit unde r c o nsid e ra tio n to q ua lify a s Co mpe te nt Pe rso n a s de fine d in the 2004 E ditio n o f the “Austra la sia n Co de fo r Re po rting o f Mine ra l Re so urc e s a nd Ore Re se rve s”. I a in Co o pe r c o nse nts to the inc lusio n o f the ma tte rs b a se d o n this info rma tio n in pub lic re le a se s b y Bro c kma n, in the fo rm a nd c o nte xt in whic h it a ppe a rs. Mr J F a rre ll, who is a Me mb e r o f the Austra la sia n I nstitute o f Mining a nd Me ta llurg y a nd a full-time e mplo ye e o f Go lde r Asso c ia te s Pty L td , pro d uc e d the Mine ra l Re so urc e e stima te s fo r Ma rilla na a nd the Co o nd ine r a nd K a lg a n Cre e k d e po sits o f Op htha lmia b a se d o n the d a ta a nd g e o lo g ic a l inte rpre ta tio ns pro vide d b y Bro c kma n. Mr F a rre ll ha s suffic ie nt e xpe rie nc e tha t is re le va nt to the style o f mine ra lisa tio n, type o f de po sit unde r c o nside ra tio n a nd to the a c tivity tha t he is unde rta king to q ua lify a s a Co mpe te nt Pe rso n a s de fine d in the 2004 e ditio n o f the “Austra la sia n Co de fo r Re p o rting o f E xplo ra tio n, Re sults, Mine ra l Re so urc e a nd Ore Re se rve s”. Mr F a rre ll c o nse nts to the inc lusio n in this pre se nta tio n o f the ma tte rs b a se d o n his info rma tio n in the fo rm a nd c o nte xt tha t the info rma tio n a ppe a rs. Mr A Zha ng , who is a Me mb e r o f the Austra la sia n I nstitute o f Mining a nd Me ta llurg y a nd a full-time e mplo ye e o f Bro c kma n Mining Austra lia Pty L
a nd K a lg a n Cre e k d e po sits o f Ophtha lmia . Mr Zha ng ha s suffic ie nt e xpe rie nc e tha t is re le va nt to the style o f mine ra lisa tio n, type o f d e po sit und e r c o nside ra tio n a nd to the a c tivity tha t he is unde rta king to q ua lify a s a Co mpe te nt Pe rso n a s de fine d in the 2004 e ditio n o f the “Austra la sia n Co de fo r Re po rting o f E xplo ra tio n, Re sults, Mine ra l Re so urc e a nd Ore Re se rve s”. Mr Zha ng c o nse nts to the inc lusio n in this pre se nta tio n o f the ma tte rs b a se d o n his info rma tio n in the fo rm a nd c o nte xt tha t the info rma tio n a ppe a rs. Mr A Zha ng , who is a Me mb e r o f the Austra la sia n I nstitute o f Mining a nd Me ta llurg y a nd a full-time e mplo ye e o f Bro c kma n Mining Austra lia Pty L td , pro d uc e d the Mine ra l Re so urc e e stima te fo r Duc k Cre e k b a se d o n the d a ta a nd g e o lo g ic a l inte rpre ta tio ns pro vide d b y Bro c kma n. Mr Zha ng ha s suffic ie nt e xpe rie nc e tha t is re le va nt to the style o f mine ra lisa tio n, type o f d e po sit und e r c o nsid e ra tio n a nd to the a c tivity tha t he is unde rta king to q ua lify a s a Co mpe te nt Pe rso n a s de fine d in the 2004 e ditio n o f the “Austra la sia n Co de fo r Re po rting o f E xplo ra tio n, Re sults, Mine ra l Re so urc e a nd Ore Re se rve s”. Mr Zha ng c o nse nts to the inc lusio n in this pre se nta tio n o f the ma tte rs b a se d o n his info rma tio n in the fo rm a nd c o nte xt tha t the info rma tio n a ppe a rs.