present a tie rosebel gold mines
TRANSCRIPT
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2 Rosebel – Analyst Visit
CAMBIOR
• Réjean Gourde Senior Vice President – Guiana Shield
• Robert LaVallière Manager – Investor Relations
ROSEBEL
• Denis Miville-Deschênes General Manager
• Paul Johnson Mine Manager
• Samir Chefai Mill Superintendent
• Réjean Sirois Geology Superintendent
• Myriam Figueiredo Exploration
3 Republic of Suriname
• A former Dutch colony – Independence in 1975
• Capital: Paramaribo
• Population: 435,500 inhabitants
Languages: Dutch, English (widely spoken),Sranan Tongo and local dialects
• Presidential system
51 elected members
Next national election: May 2005
President: Dr. Ronald R. Venetiaan
• Literacy: 93%
4 Political Situation – Republic of Suriname
• Per capita GDP - US $3,500 (2002 est.)
• Primary exports - alumina
crude oil
lumber
shrimp/rice/bananas
• GDP growth - 1.2% (2002 est.)
• Major foreign companies - Alcoa
BHP-Billiton
Currency - Surinamese Dollar
SRG per US $: 2.70 (sept. 2004)
5 Climate
• Tropical; warm (26°C) and high humidity (85-93%)
• Average rainfall is greater than 60 mm in the driestmonth(s)
Annual precipitation is 2,200 mm(highest precipitation May to July)
4 seasons:
• February - March, a short dry season
• April-July, a long rainy season
• August-November, a long dry season
• December-January, a short rainy season
• CBJ experienced in climate - similar to Omai
6 Rosebel Mine _ Suriname
Rosebel
PARAMARIBO
PARANAM
ZANDERIJAIRPORT
NJOENGJACOBKONDRE Brokopondo
Reservoir
BROKOPONDO
BROWNSWEG
Atlantic Ocean
SaramaccaRiver
SurinameRiver
KWAKUGRON
0 25
km
Hydroelectricplant
18 kmHeadley's
Reef
ThunderMountain
OMAI ROSEBEL
Georgetown
Paramaribo
Cayenne
SouthAmerica
GUYANA
SURINAMEFRENCHGUIANA
Atlantic Ocean
CAMP
CAIMAN
A new mining districtfor Cambior
7 History
• Exploration / Exploitation on-going in area forthe past 100 years
• Golden Star Resources (GSR) acquired option fromGrassalco in 1992
• Cambior acquired 50% interest in 1994
• Cambior acquired GSR’s 50% interest in 2002
• Cambior
Participated in exploration program 1994-1997
Three major studies completed
• 1997 – Feasibility
• 2001 – Soft / Transition ore study
• 2002 – Updated feasibility
RosebelGeological Information
Guiana Shield9
VENEZUELA
SURINAME
GUYANA
FRENCHGUIANA
BRAZIL
BRAZIL
BRAZIL
COLOMBIA
CiudadBolivar
Georgetown
Paramaribo
Cayenne
Manaus Amazon
Orenoque
SouthAmerica
0 500
km
60°W
60°W
10°N
0°
Middle Proterozoic Sediments
Undifferentiated
Lower Proterozoic Greenstone Belt
Mesozoic and Cenozoic Sediments
Granite and Gneiss
Imataca Archean Complex
Major Gold Deposits
Las Cristinas8.0 M oz
Omai4.0 M oz Rosebel
3.2 M oz
Yaou-Dorlin1.0 M oz
Camp Caiman1.9 M oz
Rosebel Mine – Property Plan
0.9 M oz1.223Indicated Mineral Resources
2.4 M oz1.647Probable Mineral Reserves
GoldContained
Gradeg Au/t
TonnageM tonnes
Gold @ $350/oz
Excellent Potential toIncrease Reserves
10
Exploration Zones
Property Limits
Planned Open Pits
Nieuw Koffie Kamp
Rosebel
Monsanto
Hill
Roma
"J"
Koolhoven
Pay Caro
East Pay Caro
Mayo Royal Hill
Mama Creek
Spin
Airstrip
Mill Site
NewlyAcquired
Ground
TailingsPond 20 km
25 km
11 Rosebel Mine - Suriname
MonsantoHill
Roma
J
Mama Creek
Spin
890000N
885000N
880000N
890000N
885000N
880000N
34
50
00E
35
00
00E
35
50
00E
36
00
00E
Rail R
oad
Airstrip
Granite
Armina Volcanics
Volcanics
Rosebel Sediments
Armina Sediments
Paramaka
Diabase Dykes
Open Pits
0.5 - 1.0 g Au/t
> 1.0 g Au/t
Geochemical Anomalies
TrendsExploredNot Explored
ExplorationZone
Rosebel Property Limits
Rosebel Property Limits
Koolhoven
Mayo
Royal Hill
Rosebel
Pay Caro
East Pay Caro
Nieuw Koffie Camp
Rosebel Camp
0 5
km
Ore Deposit Locations andGeochemical Anomalies
Rosebel Project
Fresh Rock
Saprolite
Transition
Laterite
Alluvium
Dumps and Tailings
Ore Zone
5-80 m
30-100 m
Mineralized Zones
Surficial
Rosebel ProjectTypical Mineralization Profile
13 Exploration Work ( 1992 – 1997 )
• Geophysical survey
• Regional prospecting
• Soil sampling
• Deep augering – 35,000 meters
• Trenching – 45,300 meters
• Diamond drilling – 108,000 meters
• More than 166,000 samples analysed
• QA/QC program
218
00E
220
00E
222
00E
224
00E
226
00E
228
00E
230
00E
232
00E
9600N
9400N
9200N
9000N
8800N
8600N
9600N
9400N
9200N
9000N
8800N
8600N
0.5 - 1.0 g Au/t
> 1.0 g Au/t
Trenches
Diamond Drilling
Old Workings
Access Roads
Secti
on
22750W
Pay Caro DepositPlan View
0 200
metres
Planned Pit Contour
ROSEBEL GOLD MINES N.V.
PC 059PC 060 PC 061
PC 092PC 113
PC 212
88
00
N
89
00
N
90
00
N
91
00
N
8700 N
Surface
-100 m
-200 m
Laterite
SaproliteSaprolite
Transition
TransitionRock
RockANDESITE
SEDIMENTS
3.1 / 7
2.3 / 12
2.2 / 17
4.2 / 17
4.2 / 17=
4.2 g Au/t over 17 m true width
Rosebel ProjectPay Caro DepositCross-section 22750W
S N
0.5 - 1.0 g Au/t
1.0 - 2.0 g Au/t
> 2.0 g Au/t
Conglo
mera
te0 50
metres
100
Planned Pit Outline
16 Computer Modeling
• 6 block models were created in 1997
• Ore zones are defined and modeled based onthe alteration, structure, grade and lithologicalassociation characteristics
• Laterite, saprolite, transition and hard rock limitswere also modeled in cross-sections
• 3D solids were created from cross-sections
• Block models were built from 3D solids
17 Estimation Parameters
• Method: Inverse distance squared technique (ID2)
• 5-meter length composites (capped)
• Ellipsoids are oriented according to each ore zone’sorientation
• Geological contacts are treated as hard boundaries
18 Estimation Parameters
Laterite 50 50 20
Measured Ore Zones 50 50 10 4 12 2
Host Rocks 25 25 5
Laterite 75 75 30
Indicated Ore Zones 75 75 20 3 12 2
Host Rocks 50 50 10
Laterite 100 100 30
Inferred Ore Zones 100 100 30 1 12 1
Host Rocks 75 75 10
Search radii (m) Minimum Maximum Maximumof compos. of compos. of compos.
Strike Dip Width per block per block per hole
19 Resource Estimates (1)
Pay Caro 2,137 1.3 3,077 1.7 10,185 1.7 7,293 1.7 22,693 1.7 1,222,400
East Pay Caro 558 1.4 1,582 1.4 2,628 1.2 4,355 1.4 9,123 1.3 387,300
Koolhoven/Bigi 1,356 1.1 2,546 1.2 5,465 1.3 633 1.3 10,001 1.2 399,500
Royal Hill 6,428 1.3 4,906 1.3 963 1.3 4,056 1.5 16,352 1.4 714,700
Mayo 2,249 1.1 3,053 1.5 871 1.7 2,181 1.5 8,354 1.4 379,600
Rosebel 1,252 1.0 861 1.6 406 1.4 1,551 1.5 4,070 1.3 179,800
TOTAL 13,981 1.2 16,026 1.4 20,519 1.5 20,068 1.5 70,594 1.4 3,283,300
Feas. Study(2002) 13,160 1.3 15,566 1.5 19,059 1.6 20,702 1.5 68,487 1.5 3,243,900
Tonnes Au Tonnes Au Tonnes Au Tonnes Au Tonnes Au Ounces (000) (g/t) (000) (g/t) (000) (g/t) (000) (g/t) (000) (g/t) Contained
Deposit Laterite Saprolite Transition Rock Total Gold
(1) Measured and indicated resources @ $350 – 2003/12/31
20
Total Mineral Reserves – 2003/12/31
Mining
Pay Caro 13,266 4,665 1.6 29,406 8,790 1.9 9,073 3,287 2.0 51,745 16,742 1.8 3.1 975
East Pay Caro 4,406 2,052 1.4 8,696 2,199 1.3 4,228 1,774 1.6 17,330 6,026 1.4 2.9 269
Koolhoven 6,920 2,349 1.3 7,756 2,130 1.60 0 0 0.0 14,677 4,478 1.5 3.3 209
Royal Hill 18,067 9,585 1.4 2,154 618 1.4 5,879 1,723 1.6 26,100 11,926 1.4 2.2 539
Mayo 11,149 4,256 1.4 1,653 581 2.0 1,766 542 2.0 14,568 5,379 1.6 2.7 270
Rosebel 3,594 1,767 1.3 894 300 1.5 1,228 548 1.7 5,715 2,615 1.4 2.2 119
TOTAL 57,402 24,674 1.4 50,560 14,617 1.7 22,174 7,874 1.8 130,136 47,165 1.6 2.8 2,382
Feas.Study 46,450 21,241 1.5 35,280 11,749 1.8 9,737 3,918 1.9 91,467 36,908 1.6 2.5 1,932
Soft Rock Transition Ore Hard Rock Total Strip Gold
Site Waste Ore Grade Waste Ore Grade Waste Ore Grade Waste Ore Grade ratio contained
(000 t) (000 t) (g Au/t) (000 t) (000 t) (g Au/t) (000 t) (000 t) (g Au/t) (000 t) (000 t) (g Au/t) (000 oz)
Mineral reserves calculated at a gold price of $350/oz
21 Mining - Production Schedule
Fleet equipment similarto Omai
• Truck and shovel operations
• Developed under the followingguidelines
Expose hard rock as soon aspossible
Soft rock mill feed for first18 months
High grading soft rock first18 months
Milling 14,000 tpd - 18 months
• Initiate exploration program in2003-2004 to seek additionalsoft rock reserves
22 Processing Plant
• Simple flowsheet
• Largely based on experienceat Omai
• Low operational risk
• Transfer “A” Circuit from Omai
Rosebel Flowsheet23
Conveyor
Gyratory Crusher
Ore From Pits
LateriteSaprolite
Fresh Carbon
Bypass
Knelson
Concentrator
SAG Reject
Stockpile
Crushed Ore
Stacker
Cyclones
Cyanide
Lime
Gravity Sizing
Screens (2X)
SAG Mill
SAG Mill
Discharge Screens (2X)
SAG Mill
Discharge Pump Box
Ball Mill
Discharge Pump Box
Ball Mill
Acid
Wash
Vessel
Loaded
Carbon
Bin
Horizontal Carbon
Sizing Screen
6 CIL Tanks
Loaded Strip
Solution Tank
Heat
Exchanger
Carbon
Strip
Vessels
Heater
Carbon
Drain
Screen
Gravity Tailings
Pump Box
Reichert
Cones (4X)
Electrowinning
Cells (2X)
Cathode
Gold
Calcination
Oven
Barren Strip
Solution Tank
Reclaim Barge
Tailings
Pumps (8X)Process Air
Mill Reclaim Water
Linear Trash
Screen
2 Leach Tanks
Lime and
Flocculant
Thickener
Process
Water
Tank
Treated Water
Tailings Pond
Flux
Concentrate
TableKilnGold Bar
Induction
Furnace
Loaded
Carbon
Screen
Fresh Water
Pond
Effluent
Treatment
Plant
Fines to Leach Circuit
24 Tailings Facility
• Designed by Golder & Associates
QA/QC and design for pond No. 2 at Omai
Expertise in similar environment
• Storage capacity for 46 million tonnes
• Possible to increase storage to 80 million tonnesby raising dam by 10 metres (to 30 metres)
• Staged construction
• Independently reviewed by Cambior externalconsultants (Brawner & Morgenstern)
• In accordance with Mining Association of Canadaguidelines
25 Capital Expenditures (in $ millions)
Projects and Construction 71.3 60.3
Mining – Preproduction 16.3 18.8
General Services 10.1 8.7
Construction Contingency - 5.4
Operations Contingency - 1.5
Sub-total 97.7 94.7
Additional Mine Equipment (1.3) -
Additional Preproduction (2.3) -
Total 94.1 94.7
• Additional equipment brought early and paid in 2004
• Additional 1.2 M tonnes mined at $1.93 per tonne
Description Actual Feas. Costs Study
26 Mine Production
100 9,451 7,422 2,029Total Waste ( k t )
1.7 1.7 1.4Total Ore ( g Au/t )
4 434 338 96Hard waste(ktonnes)
40 3,753 3,193 560Trans. waste( K t )
56 5,264 3,891 1,373Soft Waste(Ktonnes )
14,894 11,908 2,986Total Combined(kt)
100 5,443 4,486 957Total Ore ( K tonnes )
1.8 1.8 1.9Hard Ore ( g Au/t )
1 73 66 6Hard Ore ( K tonnes )
1.8 1.8 1.7Trans. Ore (g Au/t )
25 1,348 1,185 162Trans. Ore (Ktonnes)
1.7 1.7 1.4Soft Ore (g Au/t )
74 4,023 3,235 789Soft Ore (K tonnes )
End Q3Feb.11,2004
%Mine LifeProductionPre-Prod.
27 Mine Ore Production
8% 30% 62%Mine Life: End of Q3
10% 34% 56%Production: Feb. 11, 2004
- - 100%Pre – Production
RoyalHill
East PayCaro
Pay Caro
Source ( % )
28 Ore Stockpiles Status
1.31,956 Grand Total
1.01,252 Sub-total
0.7840 Low GradeSoft & Transition
1.6329Contaminated with
WoodHigh GradeSoft
1.883 High GradeHard Rock
1.7704 Sub-total
1.7139 High GradeApron Feeder
1.7565 High GradeSoft & Transition
g Au/tK Tonnes
29 Production versus Mining Reserves ( $350 )
25%6%18%1.594,6211.68 5,443Mine Life (End Q3 )
30%7%22%1.614,0791.724,989Year 2004 ( End Q3 )
(25%)(10%)(16%)1.425421.28455Year 2003 (Oct to Dec )
Ouncesof Gold
g Au/tTonnesg
Au/tK
Tonnesg
Au/tK Tonnes
Variance (%)Mined
ReservesOre Mined
30 Production versus Mining Reserves ( $350 )
14%15%(2%)1.434731.66465Royal Hill
53%17%31%1.501,2301.761,606East Pay Caro
15%0%16%1.652,9181.653,372Pay Caro
Ouncesof Gold
g Au/tTonnesg Au/tK Tonnesg Au/tK Tonnes
Variance (%)Mined ReservesOre Mined
31 Mining Costs by Rock Types
1.061.161.231.411.231.270.950.99$ / tonneTotal Cost
0.030.020.030.020.030.020.030.02$ / tonne Geology
0.040.030.040.030.040.030.040.03$ / tonne Engineering
0.070.060.070.060.070.060.070.06$ / tonne
Admin.
Maintenance
0.080.050.080.050.080.050.080.05$ / tonne Admin. Mine
0.130.080.130.080.130.080.130.08$ / tonne
Minor Equip.
Maintenance
0.220.220.160.250.160.230.250.20$ / tonne Auxilliary
0.180.330.180.330.180.330.180.33$ / tonne Hauling
0.090.170.090.200.090.180.090.16$ / tonne Loading
0.130.100.320.260.320.180.000.00$ / tonne Blasting
0.100.100.140.130.140.110.080.06$ / tonne Drilling
Q3 2004
YTD
Feas.
Study
Q3 2004
YTD
Feas.
Study
Q3 2004
YTD
Feas.
Study
Q3 2004
YTD
Feas.
Study
11,908140,27740513,6534,37847,0287,12567,688000 tProduction
AverageAverage
Hard
Rock
Hard
Rock
Transition
Rock
Transition
Rock
Soft
Rock
Soft
RockUnit
32 Mine Costs
1.061.02Cost per Tonnes Mined
11,908,0055,737,747Tonnes Mined
12,671,3805,869,402Total
12,671,3805,846,402Sub-total
438,963197,045Engineering
396,798187,433Geology & Grade Control
5,125,2792,492,752Mine Maintenance
6,710,3402,992,172Mine Operations
$$
YEAR TO DATETHIRD QUARTER 2004
33 Rosebel Mine — Great Start-up
96.62.016,400 493September
(%)(g Au/t)Average tpd(000 t)
93.42.114,200441May
92.91.914,100422June
93.71.715,300475July
94.01.517,200533August
93.31.815,000 3,487Total
91.42.015,100454April
91.31.814,400445March
90.91.211,800224February
Goldrecovery
GradeThroughput
34 Mill Production Statistics
• Tonnage Milled ( tonnes )
• Grade ( g Au/t )
• Gold Recovery ( % )
• Gold Production ( oz )
• Permanent Inventory ( oz )
• Gold Production ( oz )180,400
( 8000 )
188,400
93.3
1.80
3,487,000
Year to Date
Actual
35 Mill Production Statistics
• Tonnage Milled ( tonnes )
• Grade ( g Au/t )
• Gold Recovery ( % )
• Gold Production ( oz )
• Permanent Inventory ( oz )
• Gold Production ( oz )79,000
-
79,000
94.9
1.72
1,501,600
Third Quarter
Actual
36 Mill Operating Costs
2.66 2.65Total $/tonne milled
9,2813,983Total
856 364Freight
347 163Other Reagents
262 73Carbon
504 256Lime
1,216 516Cyanide
1,353 500Grinding Media
253 130Mill Liners
2,133 850Maintenance & Fuel
2,3581,132Salaries
3,4871,502Tonnage ( 000 t )
Actual000 $
Actual000 $
Year to Date Third Quarter
37
273,800 oz14,000 tpdYear 1
219,000 oz12,000 tpdYear 3
250,400 oz13,000 tpdYear 2
ThroughputFeasibility
Study Gold
Rosebel – Production
New Plan
• Current production of 17,000 tpd will be maintained
290,000-300,000 ounces/year
Original Plan
38 Capex: Crusher and Effluent Treatment Plant
•Total Investment: $ 18 M
•Commissioning: July 1, 2005
•Spent at the end of 3rd quarter: $ 4.7 M
•Committed end of 3rd quarter: $ 4.4 M
•On Budget
•On schedule
39 Capex: Production Increase
• Modifications required :
Additional trash screen
Increase carbon stripping capacity
Additional screen in leach tanks
Investment: $ 4.0 M
Delivery: 2nd quarter 2005
Max. processing capacity: 17,000 tpd +
Not limited by ore handling and grinding yet
Only 9 months in operation
40 Power Consumption and Costs
0,083 0,112Power Costs ($/kW-hr)
1,07 1,37Power Costs ( $/t )
3,739 2,050Power Costs ( 000 $ )
12,9 12,2Power Consumption( kW-hr/tonne )
44,89818,350Power Consumption( MW-hr )
3,487 1,502Tonnage ( 000 t )
ActualActual
Year toDate
ThirdQuarter
• Note: Third quarter – Payment of $720,000 on second powercontract for year to date fixed charge
41 Power Contract #1: Government - Hydro Power - 8 MW avg.
0.01
0.02
0.03
0.04
0.05
0.06
0.07
0.08
275 300 310 325 350 375 400
Gold Price ($/oz)
$/kWh
$0.03
$0.04
$0.05
$0.06
$0.07
42 Power Contract #2: EBS
•Duration: 2 years from January 2004
•Power available: 5 Mw
•Price attached to heavy fuel oil
•Fixed charge component: $ 86,000/m
•Can extend contract at same price if sodesire
•Could install gensets if preferable
43 General Services
000$ 000$
7,394 3,379Gen.Services Total
3,487 1,502Tonnage Milled
2.12 2.25Cost per tonne milled
1,218 519Transportation
1,736 751Camp Management
812 350Human Resources
1,566 802Proc. & Logistics
2,062 957Administration
Actual Actual
Year toDate
ThirdQuarter
44 General Services
• Higher cost: Feasibility study: $1.60/year1-3
• Variance: Exchange rate
Insurance
Fuel
Transportation
Potable water
Community relations and projects
Road maintenance
45 Health & Safety
2Light Duty Assignment
29Severity
0.9Frequency
296Days Lost
9Lost Time accidents
2,015,000Man hours worked
Year 2004
46 Environment
•Environment Management System
•ISO 14001 and training
•Mine Closure Plan
•Effluent Treatment Plant
47 Our Social Challenges
• High expectations for developmentand Employment
• Low / non existing training andeducation
• Poverty and poor qualityof life
• Lack of trust
• Small Scale Mining
48 Our Objectives
• To identify, prevent, minimize andmitigate social issues
• To identify and constantly engagestakeholders
• To plan and manage together
• To promote sustainable developmentbeyond our presence
49 Our Tools
• Social Impact Assessment, 2002
• Social Baseline, 2004
• RGM Community Relations Plan
Policy for local hiring
Policy for local purchasing
Social Investment Strategy
Consultation Strategy…
50 Our Contribution
213197190180177Total
40000Brokopondo
22223Taporipa
11121Asigron
11111Compagniekreek
1314131312Marshall Kreek
1214141111Baling Soela
3737353635Klaaskreek
5643433836Brownsweg
1415141314NW Lombé
8870676464NKK
AugustJulyJuneMayApril
Local Hiring
51 Employment
Employees
•Exploration/Engineering 50-200
•Construction 1000-1400
•Production 800
•Explor./Constr. (2004-5) 300
52 Government
• Royalty on gold production: 2% in kind
• Royalty increase to 6.5% on portion above $425
• Foundation Development of Resources: 0.25%
• Redemption of shares ( $2.0 M )
• Dividend 5%
53
Exploration Program
54 Exploration Program 2004
55 Exploration Program 2004
56 Rosebel outlook
•Commissioning has been great
•Production capacity is higher
•Positive results on geology and blockmodel
•Work force of quality
•Position for growth
•Driven by exploration results
57 Rosebel outlook
•Limited work done on Mayo, Koolhovenand Rosebel
•Surface anomalies in Spin, Mama Creekand Roma
•Other targets from porknocking onHeadley’s Reef and Thunder Mountain
•Additional targets from geophysics onconcession
•Potential for development elsewhere inSuriname
58 Forward Looking Statements
This presentation contains certain "forward-looking statements", including but not limited to, the
statements regarding the Company’s overall objectives and strategic plans, use of hedging and non-
hedging derivative instruments, future commercial production, production targets, timetables, mine
operating costs, capital expenditures, work programs, exploration budgets and targets, mineral
reserve and resource estimates and outlook, and safety and sustainability initiatives. Forward-looking
statements express, as at the date of this presentation, the Company’s plans, estimates, forecasts,
projections, expectations or beliefs as to future events or results. Forward-looking statements involve
a number of risks and uncertainties, many of which are beyond the Company’s control, and there can
be no assurance that such statements will prove to be accurate. Therefore, actual results and future
events could differ materially from those anticipated in such statements. Risks and uncertainties that
could cause results of future events to differ materially from current expectations expressed or implied
by the forward-looking statements include, but are not limited to, factors associated with fluctuations in
the market price of precious metals, mining industry risks and hazards, uncertainty as to estimation of
mineral reserves and resources, requirements of additional financing risk related to hedging and non-
hedge-derivative instruments, risks of delays in construction, production or obtaining permits and
other risks more fully described in the Company’s Annual Information Form filed with the Securities
Commissions of all provinces in Canada, and with the United States Securities and Exchange
Commission (under Form 40-F), as well as the Toronto Stock Exchange and the American Stock
Exchange. The reader is cautioned not to place undue reliance on these forward-looking statements.
The Company does not undertake to update any forward-looking statement that is contained in this
presentation.