oz minerals bmo global mining and metals … · 2014-02-21 · bmo global mining and metals...

24-26 February 2014 WWW.OZMINERALS.COM

OZ MINERALS BMO GLOBAL MINING AND METALS CONFERENCE 2014

OZ MINERALS • PAGE 2

This presentation has been prepared by OZ Minerals Limited (“OZ Minerals”) and consists of written materials/slides for a presentation concerning OZ Minerals. By reviewing/attending this presentation, you agree to be bound by the following conditions. No representation or warranty, express or implied, is made as to the fairness, accuracy, or completeness of the information, contained in the presentation or of the views, opinions and conclusions contained in this material. To the maximum extent permitted by law, OZ Minerals and its related bodies corporate and affiliates, and its respective directors, officers, employees, agents and advisers disclaim any liability (including, without limitation any liability arising from fault or negligence) for any loss or damage arising from any use of this material or its contents, including any error or omission there from, or otherwise arising in connection with it. Some statements in this presentation are forward-looking statements within the meaning of the US securities laws. Such statements include, but are not limited to, statements with regard to capacity, future production and grades, projections for sales growth, estimated revenues and reserves, targets for cost savings, the construction cost of new projects, projected capital expenditures, the timing of new projects, future cash flow and debt levels, the outlook for minerals and metals prices, the outlook for economic recovery and trends in the trading environment and may be (but are not necessarily) identified by the use of phrases such as “will”, “expect”, “anticipate”, “believe” and “envisage”. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and may be outside OZ Minerals’ control. Actual results and developments may differ materially from those expressed or implied in such statements because of a number of factors, including levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or regulation. Given these risks and uncertainties, undue reliance should not be placed on forward-looking statements which speak only as at the date of the presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, OZ Minerals does not undertake any obligation to publicly release any updates or revisions to any forward looking statements contained in this presentation, whether as a result of any change in OZ Mineral’s expectations in relation to them, or any change in events, conditions or circumstances on which any such statement is based. Certain statistical and other information included in this presentation is sourced from publicly available third party sources and has not been independently verified. OZ Minerals financial results are reported under International Financial Reporting Standards (IFRS). This presentation also includes certain non-IFRS measures including Underlying EBITDA, Underlying EBIT and Underlying NPAT. These measures are presented to enable understanding of the underlying performance of the Company without the impact of non-trading items such as impairment, impairment reversal and litigation settlement expense. Non-IFRS measures have not been subject to audit or review. All figures are expressed in Australian dollars unless stated otherwise.

DISCLAIMER


a) The information that relates to production outlook on pages 12, 13 and 24 is extracted from the report entitled “Prominent Hill Reserves and Resources and Production Outlook” (PHRR) released to the market on 11 December 2013 (and available to view at www.ozminerals.com). The Company confirms that it is not aware of any new information or data that materially affects the information included in the PHRR and that all material assumptions and technical parameters underpinning the estimates in the PHRR continue to apply and have not materially changed. b) The production target from Malu Underground on pages 12, 13 and 24 is based on the proportions of measured, indicated and inferred resources and mining assumptions on page 11 of the presentation entitled Prominent Hill Reserves and Resources and Production Outlook that accompanies the ASX announcement referred to in a) above. The Company has not yet completed the necessary technical studies to determine an ore reserve and the production target should not be misconstrued as an ore reserve. The stated production target is based on the company’s current expectations of future results or events and should not be solely relied upon by investors when making investment decisions. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met and to report an ore reserve. There is a low level of geological confidence associated with inferred mineral resources and there is not certainty further exploration work for Malu Underground will result in the determination of indicated mineral resources or that production itself will be realised.

INFORMATION RELATING TO THE REPORTING OF PRODUCTION TARGETS

OZ MINERALS • NOVEMBER 2009 • PAGE 4 OZ MINERALS • PAGE 4

1. COMPANY OVERVIEW

PROMINENT HILL

CARRAPATEENA


1. COMPANY OVERVIEW

Market Capitalisation ~ A$1.1 billion

Issued Share Capital 303 million

Shareholders ~ 65,000 shareholders

Institutional 70%

Retail 30%

Australian 60%

Offshore 40%


Prominent Hill copper operation • In production since 2009. • Second underground

development in 2014.

Carrapateena

• Significant new IOCG

copper deposit.

Gawler

Craton

OZ MINERALS MAJOR ASSETS

Prominent Hill Significant copper asset, strong future cash flows.

Cash Balance A$364 million at 31 December 2013-US$200 million undrawn bank debt facility.

Carrapateena Large copper resource in pre-feasibility, plus nearby exploration discovery at Khamsin.

Liquid Investments Incl ~ 19% of Sandfire Resources, ~28% of Toro Energy.


PROMINENT HILL



South Australia is a favourable mining

jurisdiction and Prominent Hill is well

located with respect to road and rail,

power and water. Export route to Asian

and European markets via Adelaide.

PROMINENT HILL LOCATION


Deposit Iron-Oxide Copper Gold

Haematite breccia hosted

Mine Malu Open Pit and Ankata Underground SLOS mine.

Potential mine life extension with Malu Underground*

Plant Crush, grind, flotation

Nameplate 8Mtpa

Operating at 9–10Mtpa

Workforce Approximately 1,400 including contractors

and approximately 75% from South Australia

2014 production

guidance:

Contained copper 75,000t to 80,000t

Contained gold 130,000oz to 140,000oz

C1 cost guidance 2014 US$1.15–US$1.25/lb

PROMINENT HILL COPPER GOLD OPERATION

*Refer to p3 for Malu Underground disclaimer.


Waste

Dumps

Pit

TAILINGS STORAGE

FACILITY

OPEN PIT

ROM PAD

PROCESSING

PLANT

VILLAGE

ANKATA DEPOSIT AREA

NORTHERN

WASTE DUMP

SOUTHERN

WASTE DUMP

MALU UNDERGROUND AREA

SITE PROMINENT HILL


ANKATA

UNDERGROUND

MINE

MALU OPEN

PIT MINE

MALU UNDERGROUND

MINE – COMMISSIONING

PLANNED LATE 2014*

MINING AREAS PROMINENT HILL

*REFER TO MALU UNDERGROUND DISCLAIMER P.3


Malu

Op

en

Pit

an

d

An

kata

Rese

rve

Malu

UG

Reso

urc

e*

2013 2014 2015 2016 2017 2018

73

,36

2t

75

-80

,00

0t 9

5,0

00

t +

Prominent Hill copper production profile

~1

0,0

00

t

Average

10,000 – 20,000t

• Malu Open Pit and Ankata Underground production target for 2015 and beyond based only on Reserves.

• Increase in copper tonnes and grade from Malu Open Pit, concurrent with significant drop in waste movement.

• Treatment of ROM stockpiles to continue post 2018.

• Long life supported by significant resource.

95

,00

0t

+

95

,00

0t

+

95

,00

0t

+

500

(‘0

00

t)

PROMINENT HILL COPPER PRODUCTION OUTLOOK



Malu

Op

en

Pit

an

d

An

kata

Rese

rve

Malu

UG

Reso

urc

e*

2013 2014 2015 2016 2017 2018

12

8,0

45

oz

13

0-1

40

,00

0o

z

Prominent Hill gold production profile

~1

0,0

00

oz

• Proportion of gold ore in mill feed will decrease as copper ore availability and grade increases.

• Significant gold ore milling post 2018 is combined with underground ore.

• Open Pit and Ankata production target post 2015 based only on Reserves.

• High gold content within copper ore.

Average

25,000-35,000oz

95

,00

0o

z +

95

,00

0o

z +

95

,00

0o

z +

95

,00

0o

z +

(‘0

00

oz)

50

PROMINENT HILL GOLD PRODUCTION OUTLOOK



0

30

60

90

2013 2014 2015 2016 2017 2018

Mt

Open pit movement and strip ratio

Waste

Ore

SR: 9.5

6-7

3-4

2-3

0.5-1.5

0-1

0

2

4

6

8

0

10

20

30

40

50

60

2013 2014 2015 2016 2017 2018

Ex

ca

vato

rs

Tru

ck

s

Excavator and Truck demobilisation schedule

Trucks

Excavators

MALU OPEN PIT STRIP RATIO TO REDUCE, FLEET REDUCTION UNDERWAY

• Total material movement in the Malu Open Pit to reduce steadily.

• Equipment demobilisation commenced.

•Cash flow generation to improve.


Proposed Ankata development and production Q4 2013–2014

ANKATA UNDERGROUND STRONG OPERATING PERFORMANCE

•Ankata Underground discovered 2007.

• Board approval 2010.

• First production 2012.

•Reserve grade 2% copper.

• 1.2Mtpa mining rate.

• 2013 1.2Mt of ore in its first full year of production with grades and costs at planned levels.


Existing development

Planned development for 2014

Planned 2014 stopes

Plan for Malu Underground Mine

Infrastructure 2014

MALU UNDERGROUND COMMISSIONING PLANNED FOR LATE 2014

• Second underground mine – 1.3-1.6 Mtpa.*

•Reserve evaluation to be completed by H1 2014.

• First copper production planned in late 2014.*


LEGEND


CARRAPATEENA



Carrapateena is another large Iron

Oxide Copper Gold deposit, similar to

Prominent Hill, located 300km to the

southeast. The Stuart Highway,

Adelaide to Darwin Railway and grid

power are within 50km of the site.

Port facilities exist at both Port Pirie

and Whyalla.

CARRAPATEENA LOCATION


•Acquired in May 2011 for US$250 million.

•Tenement package ~3,620sq km.

•Large Iron Oxide Copper Gold deposit – similar to Prominent Hill.

•Current Indicated and Inferred Resources of 800Mt at 0.8% Cu, 0.3g/t Au (0.3% Cu cut off).*

•Discovery at Khamsin, 10 km NW of Carrapateena.

•Pre-feasibility study underway, due for completion H1 2014.

*Refer to p35 for details of report from which this is extracted.

CARRAPATEENA A SECOND COPPER – GOLD DEPOSIT IN SOUTH AUSTRALIA


2013 INFERRED/INDICATED RESOURCES 2011 INFERRED RESOURCES

Looking West

* These wireframes show the interpreted limits of the Chalcopyrite envelope and Bornite zones respectively. These domains contain almost the entire resource. Intervals calculated using a 0.3% Cu cut-off grade.

Resource classification is shown in

‘stylised’ view at Section 737800mE.

* Refer to p35 for details of report

from which this is extracted.

Chalcopyrite Zone

Upper Bornite Zone

Lower Bornite Zone

203Mt @ 1.31% Cu, 0.56 g/t Au

At 0.7% Cu cut off

800Mt @ 0.80% Cu, 0.30 g/t Au

At 0.3% Cu cut off

Bornite Zone

250m

CARRAPATEENA AUSTRALIA’S LARGEST UNDEVELOPED COPPER PROJECT

Indicated Resources

Inferred Resources

Exploration Target

LEGEND


The scenario below is conceptual only and is

based on a scoping study* which has been

undertaken and which examines the potential for

a large scale long life copper operation.

Mining

•Base case – Two lift block cave mine with

potential production rate of 10–15Mtpa.

•Dual declines for access and production

developed by tunnel boring machine.

•Possible 20–25 year mine life.

Processing

•Production of a high grade copper concentrate

(~35% copper) at approximately 90% copper

recovery and 70% gold recovery

•Testwork indicates uranium is downgraded from

feed to concentrate.

*A Scoping Study provides direction for future studies but has low

accuracy. Further drilling, geotechnical, metallurgical and study work

are required to demonstrate the viability of this project before a

decision to mine can be made with any certainty. This is expected to

be after a pre-feasibility and feasibility study are complete.

CARRAPATEENA PROJECT CONCEPT


•Significant mineralisation discovered in late 2012 – 440.6 metres @ 0.43% Cu, 0.08 g/t Au. •22 holes drilled to date.

•Khamsin resource estimation work planned H1 2014. •Refer to p35 for details of report from which this is extracted.

CARRAPATEENA NEW DISCOVERY AT KHAMSIN


Hole

Number

From

(metres)

Interval

(metres)

Cu

(%)

Au

(g/t)

KMS004 1380 442 0.49 0.09

including

1385.6 48.5 1.01 0.07

KMS006 909 334 0.75

including

1033

108

0.92

0.40

KMS008 747 701 0.83 0.24

including

777

63

2.75

0.15

KMS012 879 427 1.03 0.28

Selected results:

KHAMSIN DRILL HOLES SELECTED RESULTS

Refer to p35 for details of report from which this is extracted.


• Moving back towards the core of the orebody.

• Pit in improved condition.

• Copper production 75,000t to 80,000t

• 30,000t H1

• Remainder H2

• Gold production 130,000oz to 140,000oz.

• C1 Cash costs US$1.15 - US$1.25/lb.

• 2015 - in excess of 105,000 tonnes of copper and in excess of 105,000 ounces of gold. Increasing to in excess of 120,000 ounces of gold from 2016 to 2018.

Refer to disclaimer on p 2 and 3.

• Lower total expenditure in the Malu Open Pit.

• Mining 24 million tonnes less waste.

• Equipment demobilisation.

• Unit costs per tonne to increase and work to address this continues.

• $71 million for Malu Underground.

• Lower planned spend at Carrapateena

• $33 million PFS and operating costs.

• $15 million Khamsin.

• Third Prominent Hill mine at Malu Underground planned to start in late 2014.

• Carrapateena PFS, discussions with interested parties.

• Khamsin – aim to establish a maiden resource.

• Capability to execute on M&A.

• 50,000t to 150,000t copper (lower end generally).

• Advanced development or operations.

• Low to medium risk jurisdictions.

• Ongoing management focus.

• Intense focus on open pit efficiency and productivity.

• Several 2013 initiatives to have an impact in 2014.

• Site-wide restructure savings.

• Working to renegotiate contracts.

2014 OUTLOOK

PRODUCTION

HIGHER

TOTAL CASH

SPEND LOWER

BUSINESS

IMPROVEMENT

GROWTH PROJECTS


• 2014 Prominent Hill production and cost guidance:

– Copper 75,000 – 80,000 tonnes

– Gold 130,000 – 140,000 ounces

– C1 costs US115 – 125 cents/lb.

•Costs reductions remain a continued focus throughout 2014.

•Carrapateena Pre-Feasibility ongoing, discussions commenced, exploration

at Khamsin to continue.

• Board to embark on staged succession planning process for CEO.

•OZ Minerals remains in strong liquidity position:

– Significant cash balance A$364m at 31 December 2013

– Undrawn debt facility of US$200m - three year facility to 2016.

• This places OZ Minerals in a robust position to execute its growth strategy.

SUMMARY


2. APPENDICES



2012 Full Year Mar'13 Qtr Jun'13 Qtr Sep'13 Qtr Dec'13 Qtr 2013 Full Year

Mined

Malu Ore 7,329,430 2,336,953 1,769,398 1,775,044 2,399,557 8,280,952

Ankata Ore 424,965 289,613 303,247 275,634 336,532 1,205,026

Waste Tonnes 73,009,951 15,962,835 18,454,484 22,061,801 22,028,626 78,507,746

Mined Grade

Malu Copper % 1.04 0.67 0.67 0.6 0.58 0.63

Ankata Copper % 2.89 1.95 1.87 2.13 3.01 2.27

Gold G/T 0.52 0.67 0.53 0.47 0.62 0.58

Silver G/T 3.1 2.68 2.76 2.79 2.65 2.71

Ore Milled 9,648,325 2,355,995 2,365,159 2,486,714 2,291,428 9,499,296

Milled Grade

Copper % 1.19 0.99 0.84 0.80 0.87 0.87

Gold G/T 0.6 0.55 0.55 0.48 0.63 0.55

Silver G/T 3.05 3.13 2.77 2.42 2.37 2.67

Recovery

Copper % 88.9 87.8 87.1 87.5 91.2 88.4

Gold % 76 75.9 74.2 73.3 79.8 76.0

Silver % 76.3 76.3 73.2 73.0 78.4 75.2

Copper Conc Produced Tonnes 202,355

42,539 38,554 36,847 36,428 154,369

Concentrate Grade

Copper % 50.3 48.1 45.1 47.2 49.7 47.5

Gold G/T 21.6 23.2 25 23.8 31.6 25.8

Silver G/T 111 132.3 124.5 119.1 117.1 123.6

Contained Metal in Concentrates

Copper Tonnes 101,737 20,474 17,379 17,390 18,119 73,362

Gold OZ 140,746 31,790 31,018 28,177 37,060 128,045

Silver OZ 721,998 180,983 154,272 141,119 137,124 613,499

PRODUCTION


* As disclosed (i.e. excludes impact of IFRIC20) accounting interpretation.

** Includes impact of IFRIC20 accounting interpretation.

2012 *Full Year Mar '13 Qtr** Jun '13 Qtr** Sep '13 Qtr** Dec '13 Qtr**

2013 Full

Year

Mining Costs 200 304 354.5 365.1 350.9 342

Deferred Mining (78.3) (78.9) (206.6) (216.1) (183.8) (167.5)

Ore Inventory Adj 11.1 (39.4) 29.8 38.3 (22.3) (0.4)

Total Mining Costs 132.8 185.7 177.7 187.3 144.8 174.1

Total Site Processing Costs 49 62.3 73 61.1 55.8 62.9

Tc and Transport 32.6 40.3 40.8 37.9 36.6 38.9

Net By-product Credit (113.1) (125.6) (122.3) (103.7) (124.1)

(119.2)

Other Direct Cash Costs 18.7 22.3 25.5 23.2 20.9 22.9

Total C1 Costs 120 185 194.7 205.8 134 179.6

Royalties 6.7 6.8 6.2 5.9 6.3 6.3

Other Indirect Costs 27.3 11.5 14.4 8.9 9.4 11.1

Total Cash Costs 154 203.3 215.3 220.6 149.7 197

DD&A 72.3 132.9 140.1 124.9 131.5 132.3

Other Non Cash Costs 2.1 (13.1) 0.6 3 (19.4) (7.5)

Total Production Costs 228.4 323.1 356 348.5 261.8

321.8

C1 COSTS


A$M Dec-12* Dec-13

Revenue 985.7 644.0

Cost of goods sold (477.5) (446.8)

Net foreign exchange (loss)/gain (11.3) 40.9

Exploration expense (114.1) (74.5)

Gain on sale of Cambodia 18.8 0.9

Other income 7.9 1.8

Other expenses (55.6) (50.5)

Underlying EBITDA 353.9 115.8

Depreciation and amortisation (174.7) (218.5)

Underlying EBIT 179.2 (102.7)

Net financing income 19.9 7.0

Income tax (expense)/benefit (47.1) 33.2

Underlying NPAT 152.0 (62.5)

Asset write down (net of tax) - (231.9)

152.0 (294.4)

* Restated for IFRIC 20

NPAT

Reduction in revenue due to lower sales volumes and pricing.

Increased mining spend with higher open pit volumes and full year production from Ankata, offset by higher waste deferral and inventory credit.

Lower A$/US$ resulted in gain on US$ denominated cash and debtors.

Increase in depreciation due to IFRIC 20 and full year of Ankata production.

Lower interest income due to reduced cash balances.

After tax impact of impairment, recorded in June 2013.

FY 2013 INCOME STATEMENT


-200

-150

-100

-50

0

50

100

150

200

152 (39) 52 165 (280) 112 (70) (46) (24) 80 (63)

2012

Underlying

NPAT

Commodity

pricing

FX Sales

Volume

Non

Cash

Cash Ankata Cambodia

Sale/Other

income

Income

Tax

2013

Underlying

NPAT

A$M Variance Analysis - Underlying NPAT 2012 vs 2013

First full

year of

production

from

Ankata

Proceeds from

Cambodia disposal

received in 2012

Higher

open pit

costs

driven by

volume,

offset by

lower

exploration

spend

Lower production

due to lower

grade and lower

copper only ore

mined

Increased

deferred

waste and

inventory

credit offset

by higher

depreciation

Lower

A$/US$

rate led to

gains on

revaluation

of US$

balances

Lower A$

pricing

for both

copper

and gold

UNDERLYING NPAT


200

400

600

800

1,000

659 168 70 (278) (114) 25 (75) 455 (91) 364

Cash Balance

December

Prom Hill

Operations

Movement in

Debtors

/Creditors

Deferred Waste Growth and

Sustaining

Capital

Interest/ FX

/Corporate/

Shared Services

Exploration Cash before

Shareholder

returns

Dividend Cash Balance

December

A$M Cash flow - 2013

Prominent

Hill provided

strong

operating

cash flows

with outlook

to

significantly

improve

Unwind of

high

debtors

held at

Dec 2012

= Sustaining $5.6m = Ankata $62.4m = Malu UG $38.1m = Carrapateena $7.6m

= Carrapateena studies $41.5m = Carrapateena drilling $18.9m = Prominent Hill $3.5m = Global $10.1m

Deferred

waste

driven by

higher

waste to

ore strip

ratio and

changes

due to

IFRIC 20

CASH FLOW


A$M

Consolidated

Dec-12*

Consolidated

Dec-13

Assets

Cash 659.0 364.0

Receivables 171.7 127.6

Inventories 252.3 172.8

Prepayment & Current tax asset 11.0 4.0

Investments & exploration assets 568.2 493.7

PP&E and leased equipment 1,423.4 1,355.0

Total Assets 3,085.6 2,517.1

Liabilities

Creditors 108.3 133.7

Net deferred tax liability 162.1 30.9

Provisions 29.3 24.6

Total Liabilities 299.7 189.2

Net Assets 2,785.9 2,327.9

* Restated for IFRIC 20

Lower cash balance due to investment in waste stripping and Malu UG growth project and dividend paid.

Balance sheet characterised by significant liquidity and no debt; undrawn facility: US$200 million.

Reduced inventory due to write down of low grade gold ore and more normal concentrate inventories.

Includes 19% holding in Sandfire Resources.

Impacted by asset write down and operating losses.

Decrease in PPE due to write down recorded in June, depreciation, partially offset by investment in Malu OP, Ankata and Malu UG.

BALANCE SHEET


For full Mineral Resource Statement see www.ozminerals.com/operations/resources--reserves.html,

*The information set out in these tables is a summary of information relating to Prominent Hill Mineral Resources set out in the ‘Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013’ available at www.ozminerals.com/operations/resources--reserves.html.

** The information set out in this table is a summary of information relating to Carrapateena Mineral

Resources set out in the ‘Carrapateena Mineral Resources Statement as at 30 June 2013’ available at www.ozminerals.com/operations/resources--reserves.html.

RESOURCES – SUMMARY RESERVES – SUMMARY

Prominent Hill Copper Mineral Resource - June 2013*

Category Tonnes (Mt) Cu (%) Au (g/t) Ag (g/t) Cu (kt) Au (Moz) Ag (Moz)

Measured 25 1.8 0.5 3.7 440 0.4 3.0

Indicated 58 1.2 0.6 2.9 686 1.1 5.4

Inferred 72 1.2 0.5 2.5 878 1.1 5.8

Total 155 1.3 0.5 2.9 2,004 2.6 14.3

Prominent Hill Gold Mineral Resource - June 2013*

Category Tonnes (Mt) Cu (%) Au (g/t) Ag (g/t) Cu (kt) Au (Moz) Ag (Moz)

Measured 8 0.1 0.9 2.3 7 0.2 0.6

Indicated 14 0.1 1.1 1.3 16 0.5 0.6

Inferred 8 0.1 2.4 0.9 10 0.6 0.2

Total 31 0.1 1.4 1.4 33 1.4 1.4

Carrapateena Mineral Resource - June 2013** at 0.3Cu cut-off grade

Malu Open Pit Ore Reserves - June 2013*

Classification Tonnes Cu Cu Au Au Ag Ag

(Mt) (%) (kt) (g/t) (koz) (g/t) (koz)

Copper Ores

Proved 16 1.3 210 0.4 200 3.4 1,800

Probable 27 1.0 270 0.5 400 2.7 2,300

Gold Ores

Proved 7 0.1 10 0.9 200 2.4 600

Probable 8 0.1 10 1.0 300 1.9 500

All Ores

Proved 24 0.9 220 0.6 400 3.1 2,300

Probable 35 0.8 280 0.6 700 2.5 2,800

Total 59 0.8 500 0.6 1,100 2.7 5,100

Ankata Ore Reserves - June 2013*

Classification Tonnes Cu Cu Au Au Ag Ag

(Mt) (%) (kt) (g/t) (koz) (g/t) (koz)

Proven 7.4 2.0 150 0.4 90 2.9 700

Probable 0.1 1.4 2 0.4 2 1.6 7

Total 7.5 2.0 152 0.4 92 2.9 707

Classification Tonnes

(Mt)

Cu (%)

Au (g/t)

Ag (g/t)

U (ppm)

Density (t/m3)

Cu (Mt)

Au (Moz)

Ag (Moz)

Indicated 356 1.0 0.4 4.3 191 3.49 3.7 4.9 50

Inferred 444 0.6 0.2 2.4 126 3.44 2.6 3.5 35

Total 800 0.8 0.3 3.3 155 3.47 6.3 8.4 84

RESOURCES & RESERVES AS AT 30 JUNE 2013

http://www.ozminerals.com/operations/resources--reserves.html




0

100

200

300

400

500

2013* 2014 2015

A$m

Capital expenditure Prominent Hill

Sustaining site Ankata Deferred waste Malu UG

* Subject to final reconciliation and audit.

CAPITAL AND EXPLORATION EXPENDITURE

Reduced exploration and

evaluation expenditure in 2014

to ~A$55m:

•Carrapateena project ~A$33m;

and

• Khamsin/Fremantle Doctor and

early stage projects ~A$22m.


The information in this presentation that relates to Prominent Hill Copper Mineral Resource –June 2013, Malu Open Pit Ore Reserves –June 2013 and Ankata Ore Reserves –June 2013 (all on page 33) is extracted from the report entitled “Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2013” created on 11 December 2013 and is available to view on www.ozminerals.com/operations/resources--reserves.html. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. The information in this presentation that relates to Carrapateena Mineral Resource – 2013 at 0.3%Cu cut-off grade (on page 19, 20 and 33) is extracted from the report entitled “Annual Carrapateena Resource Update – 2013” created on 28 November 2013 and is available to view on www.ozminerals.com/operations/resources--reserves.html. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. The information in this presentation that relates to the Khamsin Drill Hole Number KMS 003 (on page 22 and 23) is extracted from the report entitled “Carrapateena Resource Upgrade, and a significant new regional exploration copper discovery” created on 21 January 2013 and is available to view on www.ozminerals.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. The information in this presentation that relates to the Khamsin Drill Hole Number KMS 004 (on page 22 and 23) is extracted from the report entitled “Quarterly Report for the Three Months Ended 31 March 2013” created on 22 April 2013 and is available to view on www.ozminerals.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. The information in this presentation that relates to the Khamsin Drill Hole Number KMS 006 (on page 22 and 23) is extracted from the presentation entitled “OZ Minerals Carrapateena Analyst Tour” created on 7 May 2013 and is available to view on www.ozminerals.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. The information in this presentation that relates to the Khamsin Drill Hole Number KMS 008 (on page 22 and 23) is extracted from the report entitled “Quarterly Report for the Three Months Ended 30 June 2013” created on 25 July 2013 and is available to view on www.ozminerals.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. The information in this presentation that relates to the Khamsin Drill Hole Number KMS 012 (on page 22 and 23) is extracted from the report entitled “Quarterly Report for the Three Months Ended 30 September 2013” created on 14 October and is available to view on www.ozminerals.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

INFORMATION RELATING TO THE REPORTING OF ORE RESERVES, MINERAL RESOURCES AND EXPLORATION RESULTS







http://www.ozminerals.com/





oz minerals bmo global mining and metals … · 2014-02-21 · bmo global mining and metals...

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