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SAFE, SIMPLE AND EFFECTIVE! De Beers Venetia Mine Welcomes Anglo American plc

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Page 1: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

De Beers Venetia Mine

WelcomesAnglo American plc

Page 2: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Venetia Mine Vision

Our Venetia an efficient and cost-effectivediamond operation responsibly securing our prosperity

SAFE, SIMPLE AND EFFECTIVE!

Page 3: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Processes

A culture of continuous business improvement and standardization

entrenched in all processes within the workplace to ensure the short

term viability and long term sustainability

DELIVERY

Reputation High levels of confidence instilled with our

shareholders and key stakeholders (employees and external) by managing the mine within

acceptable and understandable levels of risk.

QUALITY

Financial

Sufficient cash generated to serve the FoC commitments and fund the growth and future expansion needs in such a way as not to compromise any of the covenants.

COST

People

Competent, innovative and passionate people and teams committed to continuous improvement

MORALE

Our ‘Definition of Victory’

ZERO HARM to People, Planet & Profit Always

SAFETY

Page 4: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Page 5: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Resources

Page 6: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Kimberlite Cluster

K03

K02

K11

K08K05

K06

K12K04

K07K16

K01

K18

K10

Page 7: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Kimberlite Cluster

K03

K02

K11

K08K05

K06

K12 K04K07 K16

K01

K18

K10

Page 8: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Resource Models

North

K01 and K02 Modelled

to 1044m below surface

K03 modelled

to 600m below surface

Satellites modelled

to various depth

K01K02K03

K04

Page 9: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Post SBP Resource Classification

Low Indicated

High Inferred

Medium Inferred

Very Low Inferred

2009 SBP Open Pit Mining Limit Current Mining Surface

Surface to B63

Surface to B13

B64 to B87

Surface to B14

B15 to B27

B28 to B58

B59 to B72

B36 to 49

Surface to B35

K03 K02 K01 K04

Page 10: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Resources

0

1000000

2000000

3000000

4000000

5000000

6000000

7000000

8000000

1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85

Tone

s

0

1000000

2000000

3000000

4000000

5000000

6000000

7000000

Car

ats

K01 Indicated Tones K01 Inferred Tones K2 Indicated Tones K2 Inferred Tons K3 Inferred Total Carats

Open Pit to end of Cut 3

Open Pit Cut 4

Underground Phase 1

Underground Phase 2

Tons 125.9Carats 168.4

Tons 57.9Carats 74.8

Tons 83.5Carats 97.8

Tons 41.9Carats 36.6

Page 11: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Current Production

Page 12: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Total Waste MinedBudget = 22.68mT

1653

1339

1872

1656

0200400600800

1,0001,2001,4001,6001,8002,0002,2002,400

Jan-

10

Feb-

10

Mar

-10

Apr

-10

May

-10

Jun-

10

Jul-1

0

Aug

-10

Sep-

10

Oct

-10

Nov

-10

Dec

-10

Tons

in T

hous

ands

YTD (Mar) 7% up vs budget

2009 Budget = 1.5Mt YTD Actual = 4.86mT YTD Budget = 4.54mT

Page 13: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Kimberlite MinedBudget = 3.63mT

64

461

390

209

0

100

200

300

400

500Ja

n-10

Feb-

10

Mar

-10

Apr

-10

May

-10

Jun-

10

Jul-1

0

Aug

-10

Sep-

10

Oct

-10

Nov-

10

Dec-

10

Tons

in T

hous

ands

YTD (Mar) 1% up vs budget

2009 Budget = 1.5Mt YTD Actual = 0.91mT YTD Budget = 0.90mT

Page 14: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

2009 Budget = 1.5Mt YTD Actual = 5.78mT

Total Tons MinedBudget = 26.30mT

YTD Budget = 5.44mT

1,71

7

1,78

0

2,26

2

1,86

5

0

600

1,200

1,800

2,400

3,000

Jan-

10

Feb-

10

Mar

-10

Apr

-10

May

-10

Jun-

10

Jul-1

0

Aug

-10

Sep-

10

Oct

-10

Nov-

10

Dec-

10

Tons

in T

hous

ands

YTD (Mar) 6% up vs budget

Page 15: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

215

318

390

312

0

90

180

270

360

450Ja

n-10

Feb-

10

Mar

-10

Apr

-10

May

-10

Jun-

10

Jul-1

0

Aug

-10

Sep-

10

Oct

-10

Nov-

10

Dec-

10

Tons

in T

hous

ands

Kimberlite TreatedBudget = 4.00mT

YTD (Mar) 5% down vs

budget

2009 Budget = 1.5Mt YTD Actual = 0.92mT YTD Budget = 0.97mT

Page 16: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

178

362

426

355

0

100

200

300

400

500Ja

n-10

Feb-

10

Mar

-10

Apr

-10

May

-10

Jun-

10

Jul-1

0

Aug

-10

Sep-

10

Oct

-10

Nov-

10

Dec-

10

Car

ats

in T

hous

ands

Carats RecoveredBudget = 3.97mCts

YTD (Mar) 0.1% up vs

budget

2009 Budget = 1.5Mt YTD Actual = 0.97mCts YTD Budget = 0.96mCts

Page 17: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Looking ForwardEnhancement Opportunities

Page 18: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!18

Business Sustainability Programme Road Map

Select optimal depletion strategy

13/4

Detailed schedulingDetailed pit (incl. K03), stockpiles and the Underground schedules

21/4

Match schedule to Group

requirements

Finalise SBP & LOM Output

Group RequirementsCash flow, EBITDA

Dividends, Debt Repayments

5/5 Draft Report (off mine)Draft Report (on mine) 17/531/5

9/4

Mine Planning – Pit Optimisation

Pit Optimisation studies with reduced ramp widths & increased slope angles (high level Cut 3+ & Cut 4+ schedules)

Integrate high level schedules with K03

2009 Base Line SBP updated with current indices

Cut 4v27

Preliminary SBP models (Cut 3+, Cut 4+, Cut 4v27, U/G)

30/3

31/3

15/3

NOTE: Ore Extraction opportunities divided into:• Bankable• High Potential• Further Opportunities

Mining Equipment efficiencies (shovels & trucks)

Mining

Bench Height implementation study

Operational delay review

Truck Bowl Optimisation

Equipment Lifecycle review

15/3

20/3

30/3

Ongoing

Underground expansion

Iterative verification of the interface

with the Underground

team

21/4

19/3

Rehabilitation and ClosureLiability TBC

NOTE: Ore Processing opportunities divided into:• Bankable• High Potential• Further OpportunitiesAll need earliest start dates

Plant Recovery factor study(RATU Implementation)

Ore Processing

Satellite Stockpile treatment

Red Area Tailings treatment

K03 treatment

30/3

7/4

Mix 03 treatment

Final Report (off mine) 30/6

Page 19: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Q2 2009 +

Q1 2010 +

Q4 2010 to Q1 2013

Q1 2011 +

2013 +

Ongoing Review

Satellite Stockpile

Red Area Tailings Dump

K03

Mix 03RATU Implementation

Improve plant efficiency

Upgrade obsolete technology

MODRUP replacement

Increase in throughput rates of satellite and other magnetic material

Bulk reduction in magnetic material

Wet Magrolls

Risks•Mine test unit versus production unit

Improve plant efficiency

Upgrade obsolete technology

MODRUP replacement

Increase in throughput rates of satellite and other magnetic material

Bulk reduction in magnetic material

Wet Magrolls

Increase in throughput rates of satellite and other magnetic material

Bulk reduction in magnetic material

Wet Magrolls

Risks•Mine test unit versus production unit

1,536,000Total carats

7,534,481 Total tons (LOM)

20 cpht Grade (@ 2DS)

Consist out of K4, K5,

K6

Composition

1,536,000Total carats

7,534,481 Total tons (LOM)

20 cpht Grade (@ 2DS)

Consist out of K4, K5,

K6

Composition

Risks•High yields, exceed recovery capacity•Grade variation•EMV fleet availability•Accelerate EMV capital spend

2,433,000Total carats

114,064 Total tons

2133 cpht Grade (@ 2DS)

-3mm + 1 mm

recovery tailings

Composition

Risks•Grade variation

•Accelerated timelines•Red Area Infrastructure/Services Supply•Contaminants (grease, steel etc.)•Long lead items

2,433,000Total carats

114,064 Total tons

2133 cpht Grade (@ 2DS)

-3mm + 1 mm

recovery tailings

Composition

Risks•Grade variation

•Accelerated timelines•Red Area Infrastructure/Services Supply•Contaminants (grease, steel etc.)•Long lead items

3,500,000Total carats

12,500,000 Total tons

28 cpht Reserve grade

(@2DS)

MVKBR, DVK, MVK

Composition

3,500,000Total carats

12,500,000 Total tons

28 cpht Reserve grade

(@2DS)

MVKBR, DVK, MVK

Composition

2,746,000Total carats

8,373,000 Total tons

33 cpht Grade (@ 2DS)

63% Waste, 27%

kimberlite

Composition

2,746,000Total carats

8,373,000 Total tons

33 cpht Grade (@ 2DS)

63% Waste, 27%

kimberlite

Composition

Risks• High yields, exceed recovery capacity• Excessively hard material• Grade variation

Ore Processing Business Sustainability Program Implementation Plan

Page 20: Welcomes Anglo American plc/media/Files/A/Anglo-American-PLC-V2/... · De Beers Venetia Mine Welcomes Anglo American plc. SAFE, SIMPLE AND EFFECTIVE! Venetia Mine Vision ... Red Area

SAFE, SIMPLE AND EFFECTIVE!

Q1 2008 +

Q2 2009 +

Q4 2009 +

Q1 2010 +

Q4 2010 +

Q4 2010 to Q4 2013

2011 +

2009 Year Performance 2010 onwards BSP

42.5%42.5%

Pit Layout

Average Loading Rates per period - RH200

1274880 803

1214 1247949 817

1503 1336 12971510

19402170 2236

0

500

10001500

2000

2500

2009

0120

0902

2009

0320

0904

2009

0520

0906

2009

0720

0908

2009

0920

0910

2009

1120

0912

2010

0120

1002

Production Period

Aver

age

Tons

Average Loading Rates per period - RH340

13911163 963 1061 1010 1077

1314 1480 1570 1517 1571

2365 2323.4 2476

0500

10001500200025003000

2009

0120

0902

2009

0320

0904

2009

0520

0906

2009

0720

0908

2009

0920

0910

2009

1120

0912

2010

0120

1002

Production Period

Aver

age

Tons

’10 Q1 = 56%’09 YR = 39%

Budget Rate: RH340 = 1800tph, RH200 = 1400tph New Rate: RH340 = 2400tph, RH200 = 1800tph

Significant Improvement in December 2009 and January 2010 since Cut 3 and Cut 4

trims backlog has been mined out

Shovel Efficiencies

Phase 1

2.58%

60.00%

25.84%

11.58%2.23% 68.20%

22.31%

10.00%

2.58%

51.11%

34.73%

11.58%

17.4%17.4%

2009 Year Performance 2010 Budget Performance

Idle Time

Phase 2

13.7%13.7%

2011 onwards BSP

Bench Heights

Drill Efficiencies

Final High WallPosition

TrimBlock

2nd ProductionBlock

1st ProductionBlock

Bench Heights

Bowl Optimisation

Equipment Type 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020BLAST HOLE DRILL RIG 250mm 0 0 0 0 0 0 0 28,500,000 57,000,000 0 0 0O&K RH340 SHOVELS 0 0 0 80,000,000 80,000,000 0 80,000,000 80,000,000 0 0 0 0994 FRONT END LOADER 0 0 0 0 0 0 0 0 0 0 0 0HAULTRUCK CAT 789 0 0 0 0 0 0 18,377,196 36,754,391 0 0 0 0HAULTRUCK CAT 793 0 0 0 0 0 137,972,778 91,981,852 68,986,389 206,959,167 0 0 0TRACK DOZER CAT D9R 0 0 0 0 0 0 5,600,000 5,600,000 0 0 0 0TRACK DOZER CAT D10R 0 0 45,515,268 37,929,390 7,585,878 7,585,878 0 0 7,585,878 15,171,756 0 0TYRE DOZER CAT 834 0 0 0 17,054,778 5,684,926 11,369,852 5,684,926 5,684,926 0 0 0 0MOTOR GRADER CAT 16H 0 0 0 4,848,308 0 0 0 4,848,308 4,848,308 0 0 0MOTOR GRADER CAT 24H 0 0 0 12,374,533 0 12,374,533 0 0 0 0 0 0WATER TANKER 85 000lt 0 0 0 11,417,365 0 0 0 0 0 0 0 0385 TYPE EXCAVATOR 0 0 0 0 0 0 0 11,341,038 0 0 0 0375 TYPE EXCAVATOR 0 0 5,270,519 0 0 0 0 0 0 0 0 0988 FEL 0 0 0 0 0 0 5,374,260 5,374,260 0 0 0 0TYRE HANDLER 0 0 0 0 0 0 0 5,374,260 0 0 0 0SERVICE TRUCKS 0 0 0 0 2,479,678 2,479,678 0 0 0 0 2,479,678 2,479,678Dewatering Truck 0 0 0 0 0 2,479,678 0 0 0 0 2,479,678 0Dewatering Excavator Unit 0 5,270,519 0 0 0 0 5,270,519 0 0 0 0 5,270,519Hiab Trucks 0 0 0 2,000,000 0 0 0 0 2,000,000 0 0 0WATER BOWSERS 0 0 0 0 1,800,000 0 0 0 0 1,800,000 0 0FUEL BOWSER 0 0 0 0 1,800,000 0 0 0 0 1,800,000 0 0LOW BED 0 2,400,000 0 0 0 0 0 0 0 0 0 0SKID STEER 0 0 0 0 0 0 374,134 0 0 0 0 0HIGHWALL SCALER 0 0 0 0 0 0 2,400,000 0 0 0 0 0COMPACTOR 0 0 0 0 0 0 0 0 0 0 0 0Spare RH340 Buckets 0 6,449,246 0 0 0 0 0 0 0 0 0 0Total 0 14,119,765 50,785,787 165,624,374 99,350,482 174,262,397 215,062,887 252,463,572 278,393,353 18,771,756 4,959,356 7,750,197 1,281,543,927

Equipment Type 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020BLAST HOLE DRILL RIG 250mm 0 0 0 0 0 0 0 0 0 0 0 0O&K RH340 SHOVELS 0 0 0 0 77,431,189 0 0 0 0 0 0 0994 FRONT END LOADER 0 0 0 0 0 0 0 0 0 0 0 0HAULTRUCK CAT 789 0 0 0 0 0 0 0 0 0 0 0 0HAULTRUCK CAT 793 0 0 0 24,655,583 49,311,166 24,655,583 0 73,966,749 0 0 0 0TRACK DOZER CAT D9R 0 0 0 0 0 0 0 5,600,000 0 0 0 0TRACK DOZER CAT D10R 0 0 33,363,800 33,363,800 25,022,850 0 0 0 0 0 0 0TYRE DOZER CAT 834 0 0 7,226,888 7,226,888 14,453,776 7,226,888 14,453,776 0 0 0 0 0MOTOR GRADER CAT 16H 0 0 0 5,716,367 0 0 0 5,716,367 0 0 0 0MOTOR GRADER CAT 24H 0 0 0 14,270,647 0 14,270,647 0 0 0 0 0 0WATER TANKER 85 000lt 0 0 0 11,392,410 0 0 0 0 0 0 0 0385 TYPE EXCAVATOR 0 0 0 0 0 0 0 5,670,519 0 0 0 0375 TYPE EXCAVATOR 0 0 5,270,519 0 0 0 0 0 0 0 0 0988 FEL 0 0 0 0 0 0 5,374,260 0 0 0 0 0TYRE HANDLER 0 0 0 0 0 0 0 5,374,260 0 0 0 0SERVICE TRUCKS 0 0 0 0 2,479,678 2,479,678 0 0 2,479,678 0 0 0Dewatering Truck 0 0 0 0 0 2,479,678 0 0 2,479,678 0 0 0Dewatering Excavator Unit 0 5,270,519 0 0 0 5,270,519 0 0 5,270,519 0 0 0Hiab Trucks 0 0 0 2,000,000 0 0 0 2,000,000 0 0 0 0WATER BOWSERS 0 0 0 0 1,800,000 0 0 0 1,800,000 0 0 0FUEL BOWSER 0 0 0 0 1,800,000 0 0 0 1,800,000 0 0 0LOW BED 0 2,400,000 0 0 0 0 0 0 0 0 0 0SKID STEER 0 0 0 0 0 0 374,134 0 0 0 0 0HIGHWALL SCALER 0 0 0 0 0 0 0 0 0 0 0 0COMPACTOR 0 0 0 0 0 0 0 0 0 0 0 0Spare RH340 Buckets 0 6,449,246 0 0 0 0 0 0 0 0 0 0Total 0 14,119,765 45,861,207 98,625,695 172,298,659 56,382,993 20,202,170 98,327,895 13,829,875 0 0 0 519,648,259

Variance in Capital FCT 0 0 4,924,580 66,998,679 -72,948,177 117,879,404 194,860,717 154,135,677 264,563,478 18,771,756 4,959,356 7,750,197 761,895,668

2010 SBP - Cut 4 v27 (Base Case)

2010 SBP - Cut 3+ without K3

EMV Life CycleAverage Load per Truck (2008 - 2010/02/10)

150

160

170

180

190

200

210

220

230

2008

01

2008

02

2008

03

2008

04

2008

05

2008

06

2008

07

2008

08

2008

09

2008

10

2008

11

2008

12

2009

01

2009

02

2009

03

2009

04

2009

05

2009

06

2009

07

2009

08

2009

09

2009

10

2009

11

2009

12

2010

01

2010

02

2010

03

2010

04

2010

05

2010

06

2010

07

2010

08

2010

09

2010

10

2010

11

2010

12

793 789

793 Target Payload = 225t

10t (5%)Improvement

789 Target Payload = 180t

Truck Efficiencies

793 U/L793 U/L

789 U/L789 U/L

AttendanceAttendance

Shovel UtilShovel Util

Shovel W/TShovel W/T

Truck W/TTruck W/T

Operational Delays

Mining Business Sustainability Program Implementation Plan

Ongoing Review

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SAFE, SIMPLE AND EFFECTIVE!

1

Select optimal depletion strategy

13/4

Select optimal depletion strategy

13/4

Detailed schedulingDetailed pit (incl. K03), stockpiles and the Underground schedules

21/4

Detailed schedulingDetailed pit (incl. K03), stockpiles and the Underground schedules

21/4

Match schedule to Group

requirements

Finalise SBP & LOM Output

Group RequirementsCash flow, EBITDA

Dividends, Debt Repayments

5/5

Match schedule to Group

requirements

Finalise SBP & LOM Output

Group RequirementsCash flow, EBITDA

Dividends, Debt Repayments

Match schedule to Group

requirements

Finalise SBP & LOM Output

Group RequirementsCash flow, EBITDA

Dividends, Debt Repayments

5/5 Draft Report (off mine)Draft Report (on mine) 17/5Draft Report (on mine) 17/531/5

9/4

Mine Planning – Pit Optimisation

Pit Optimisation studies with reduced ramp widths & increased slope angles (high level Cut 3+ & Cut 4+ schedules)

Integrate high level schedules with K03

2009 Base Line SBP updated with current indices

Cut 4v27

Preliminary SBP models (Cut 3+, Cut 4+, Cut 4v27, U/G)

30/3

31/3

15/3

9/4

Mine Planning – Pit Optimisation

Pit Optimisation studies with reduced ramp widths & increased slope angles (high level Cut 3+ & Cut 4+ schedules)

Integrate high level schedules with K03

2009 Base Line SBP updated with current indices

Cut 4v27

Preliminary SBP models (Cut 3+, Cut 4+, Cut 4v27, U/G)

30/3

31/3

15/3

Mine Planning – Pit Optimisation

Pit Optimisation studies with reduced ramp widths & increased slope angles (high level Cut 3+ & Cut 4+ schedules)

Integrate high level schedules with K03

2009 Base Line SBP updated with current indices

Cut 4v27

Preliminary SBP models (Cut 3+, Cut 4+, Cut 4v27, U/G)

30/3

31/3

15/3

NOTE: Ore Extraction opportunities divided into:• Bankable• High Potential• Further Opportunities

Mining Equipment efficiencies (shovels & trucks)

Mining

Bench Height implementation study

Operational delay review

Truck Bowl Optimisation

Equipment Lifecycle review

15/3

20/3

30/3

Ongoing

NOTE: Ore Extraction opportunities divided into:• Bankable• High Potential• Further Opportunities

Mining Equipment efficiencies (shovels & trucks)

Mining

Bench Height implementation study

Operational delay review

Truck Bowl Optimisation

Equipment Lifecycle review

15/3

20/3

30/3

Ongoing

Mining Equipment efficiencies (shovels & trucks)

Mining

Bench Height implementation study

Operational delay review

Truck Bowl Optimisation

Equipment Lifecycle review

15/3

20/3

30/3

Ongoing

Underground expansion

Iterative verification of the interface

with the Underground

team

21/4

19/3

Rehabilitation and ClosureLiability TBC

Underground expansion

Iterative verification of the interface

with the Underground

team

21/4

19/3

Underground expansion

Iterative verification of the interface

with the Underground

team

21/4

19/3

Rehabilitation and ClosureLiability TBC

Rehabilitation and ClosureLiability

Rehabilitation and ClosureLiability TBC

NOTE: Ore Processing opportunities divided into:• Bankable• High Potential• Further OpportunitiesAll need earliest start dates

Plant Recovery factor study(RATU Implementation)

Ore Processing

Satellite Stockpile treatment

Red Area Tailings treatment

K03 treatment

30/3

7/4

Mix 03 treatment

NOTE: Ore Processing opportunities divided into:• Bankable• High Potential• Further OpportunitiesAll need earliest start dates

Plant Recovery factor study(RATU Implementation)

Ore Processing

Satellite Stockpile treatment

Red Area Tailings treatment

K03 treatment

30/3

7/4

Mix 03 treatment

Plant Recovery factor study(RATU Implementation)

Ore Processing

Satellite Stockpile treatment

Red Area Tailings treatment

K03 treatment

30/3

7/4

Mix 03 treatment

Final Report (off mine) 30/6Final Report (off mine) 30/6

0.5 x Tyre DiaAngle of repose = 37 deg

F = 36.9m if berm is 1.8m

A = 8.4m

Our berms are 1.80metres high i.e0m additionalfor safety reasons

0.0 m safety berm2 m backbreak

Toe = 0m B = 1.8m

E = A x a = 29.3m C = 5.6m

Dual Haul Road Cross Section

0.0 m for pipes

37m0.5 x Tyre Dia

Angle of repose = 37 degF = 36.9m if berm is 1.8m

A = 8.4m

Our berms are 1.80metres high i.e0m additionalfor safety reasons

0.0 m safety berm2 m backbreak

Toe = 0m B = 1.8m

E = A x a = 29.3m C = 5.6m

Dual Haul Road Cross Section

0.0 m for pipes

37m

Increased North domain boundary

Previous North domain boundary

Geotech domains and slope changes

Increased North domain boundary

Previous North domain boundary

Geotech domains and slope changes

Ultimate Pit (RG)Ultimate Pit (RG)

K1

K3

Plan View - Bench 10 (576 amsl)

C4 V27 (Design)C4 V27 (Design)

K1

K2

K3

K4K1K1

K2K2

K3K3

K4K4

Skin AnalysisSkin Analysis

Cut 3 (Design)Cut 3 (Design)

Cut 3+Cut 3+

Cut 4+Cut 4+

120m

120m

120m120m

120m120m

8.19?10.29.27.3Stripping Ratio

751561364271Waste

2314109LOM @ 4Mt

27

?

92

Cut 3+ & Cut 4+ (Net)

Cut 4+ (HLD)

V27 Dgn

Cut3+ (HLD)

161211LOM @3.5Mt

16%23%27%Rev/Cost Ratio

553937Ore

8.210.29.27.3Stripping Ratio

751561364271Waste

2314109LOM @ 4Mt

27

92

Cut 3+ & Cut 4+ (Net)

Cut 4+ (HLD)

V27 Dgn

Cut3+ (HLD)

161211LOM @3.5Mt

16%23%27%Rev/Cost Ratio

553937Ore

8.19?10.29.27.3Stripping Ratio

751561364271Waste

2314109LOM @ 4Mt

27

?

92

Cut 3+ & Cut 4+ (Net)

Cut 4+ (HLD)

V27 Dgn

Cut3+ (HLD)

161211LOM @3.5Mt

16%23%27%Rev/Cost Ratio

553937Ore

8.210.29.27.3Stripping Ratio

751561364271Waste

2314109LOM @ 4Mt

27

92

Cut 3+ & Cut 4+ (Net)

Cut 4+ (HLD)

V27 Dgn

Cut3+ (HLD)

161211LOM @3.5Mt

16%23%27%Rev/Cost Ratio

553937Ore

Ultimate Pit (RG)Ultimate Pit (RG)

Plan View - Bench 10 (576 amsl)

K1

K2

K3

K4K1K1

K2K2

K3K3

K4K4

Cut 3 (Design)

C4 V27 (Design)C4 V27 (Design)

Cut 3+Cut 3+

Cut 4+Cut 4+

8.19?10.29.27.3Stripping Ratio

751561364271Waste

2314109LOM @ 4Mt

27

?

92

Cut 3+ & Cut 4+ (Net)

Cut 4+ (HLD)

V27 Dgn

Cut3+ (HLD)

161211LOM @3.5Mt

16%23%27%Rev/Cost Ratio

553937Ore

8.210.29.27.3Stripping Ratio

751561364271Waste

2314109LOM @ 4Mt

27

92

Cut 3+ & Cut 4+ (Net)

Cut 4+ (HLD)

V27 Dgn

Cut3+ (HLD)

161211LOM @3.5Mt

16%23%27%Rev/Cost Ratio

553937Ore

8.19?10.29.27.3Stripping Ratio

751561364271Waste

2314109LOM @ 4Mt

27

?

92

Cut 3+ & Cut 4+ (Net)

Cut 4+ (HLD)

V27 Dgn

Cut3+ (HLD)

161211LOM @3.5Mt

16%23%27%Rev/Cost Ratio

553937Ore

8.210.29.27.3Stripping Ratio

751561364271Waste

2314109LOM @ 4Mt

27

92

Cut 3+ & Cut 4+ (Net)

Cut 4+ (HLD)

V27 Dgn

Cut3+ (HLD)

161211LOM @3.5Mt

16%23%27%Rev/Cost Ratio

553937Ore

104.57/CK&VK

79.48/CKW

Ca 104

$/crt (FSV)

245.5

791.6

Intrinsic Value

(Million US$)

13

50

Bottom Bench

2005

2009

Mineral Resource

202.6112.98

187.6242.26

Cpht(+2#)

CaratsMillion

Tonnes(Million)

104.57/CK&VK

79.48/CKW

Ca 104

$/crt (FSV)

245.5

791.6

Intrinsic Value

(Million US$)

13

50

Bottom Bench

2005

2009

Mineral Resource

202.6112.98

187.6242.26

Cpht(+2#)

CaratsMillion

Tonnes(Million)

K01

K02

K03

• K03 Whittle Pit optimisation results

• LOM – 10 years stand alone

– Ore tons – 12.5Mt– Carats – 3.4M carats– Waste tons – 15.9Mt– Stripping ratio – 1.28– Reserve Grade – 27cpht– Resource grade – 18cpht

K01K02

K03

Version 27 Pit Design

Q1 2010

Q1 2010 Approval

Q1 2010 Approval

Q2 2010(study complete)

Q2 2010(study complete)

Q1 2011 +

Reduced Ramp Widths

Increased Slope Angles

Cut 3+ (“tuck-in”)Whittle shells

Net EffectWhittle Shells

K03 Mining

Planning Road Map

Mining Planning Business Sustainability Program Implementation Plan

Ongoing Review

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Coarse Tailings

FRD 1

MTP Stores, Services, EMV

Primary Crusher

Air Field

Explosives Magazine

Offices

Prevailing W

ind

Directio

nFRD 2

Access Control & Change House

Twin ShaftComplex

Dumps

K2

K1

K3

K4

Coarse Tailings

FRD 1

MTP Stores, Services, EMV

Primary Crusher

Air Field

Explosives Magazine

Offices

Prevailing W

ind

Directio

nFRD 2

Access Control & Change House

Twin ShaftComplex

Dumps

K2

K1

K3

K4

Coarse Tailings

FRD 1

MTP Stores, Services, EMV

Primary Crusher

Air Field

Explosives Magazine

Offices

Prevailing W

ind

Directio

nFRD 2

Access Control & Change House

Twin ShaftComplex

Dumps

K2

K1

K3

K4

Work Breakdown Structure (WBS)

INPUTSHEETS

Category (Description of work)

Grid reference

PLANNING AND RECONCILITATION WORKSHEETAnnual values:

Annual updated liability = A + B - C

A: Premature closure (opening balance)B: Liability accruals (additional disturbance)C: Planned rehabilitation (liability reductions)

LoM est.Balance Y2Balance Y1Balance

(C) Rehabilitation Y2(C) Rehabilitation Y1-

(B) Liabilityaccrual Y2

(B) Liabilityaccrual Y1+

(A) Premature Y1(A) Premature Y0(A) Premature

Y EndY3, Y4……Y2Y1Y0

SUMMARY SHEET

Roll-up of all sheetsP&G’s

Contingencies

SCOPE

Premature Closure EstimateLOM Closure Estimate

per annum

Quantities (volumes and areas)

Master rates schedule (Cost per unit measurement)

SURVEY AND

RECONCILIATION

Work Breakdown Structure (WBS)

INPUTSHEETS

Category (Description of work)

Grid reference

PLANNING AND RECONCILITATION WORKSHEETAnnual values:

Annual updated liability = A + B - C

A: Premature closure (opening balance)B: Liability accruals (additional disturbance)C: Planned rehabilitation (liability reductions)

LoM est.Balance Y2Balance Y1Balance

(C) Rehabilitation Y2(C) Rehabilitation Y1-

(B) Liabilityaccrual Y2

(B) Liabilityaccrual Y1+

(A) Premature Y1(A) Premature Y0(A) Premature

Y EndY3, Y4……Y2Y1Y0

SUMMARY SHEET

Roll-up of all sheetsP&G’s

Contingencies

SCOPE

Premature Closure EstimateLOM Closure Estimate

per annum

Quantities (volumes and areas)

Master rates schedule (Cost per unit measurement)

SURVEY AND

RECONCILIATION

Work Breakdown Structure (WBS)

INPUTSHEETS

Category (Description of work)

Grid reference

PLANNING AND RECONCILITATION WORKSHEETAnnual values:

Annual updated liability = A + B - C

A: Premature closure (opening balance)B: Liability accruals (additional disturbance)C: Planned rehabilitation (liability reductions)

LoM est.Balance Y2Balance Y1Balance

(C) Rehabilitation Y2(C) Rehabilitation Y1-

(B) Liabilityaccrual Y2

(B) Liabilityaccrual Y1+

(A) Premature Y1(A) Premature Y0(A) Premature

Y EndY3, Y4……Y2Y1Y0

SUMMARY SHEET

Roll-up of all sheetsP&G’s

Contingencies

SCOPE

Premature Closure EstimateLOM Closure Estimate

per annum

Quantities (volumes and areas)

Master rates schedule (Cost per unit measurement)

SURVEY AND

RECONCILIATION

Ongoing rehabilitation

Working ‘smart’

Initial development of infrastructure and project-related disturbance

Additional operational disturbance

MIN

E C

LOSU

RE

Closure liability should NO rehabilitation effort be conducted prior to the cessation of mining operations

CES

SAT

ION

OF

MIN

ING

O

PER

ATIO

NS

Closure liability should ongoing rehabilitation be conducted in line with current mine designs and dumping strategies

Closure liability should ongoing rehabilitation be conducted in addition to improved mine designs and deposition strategies

Time

Liab

ility

Initial development of infrastructure and project-

related disturbance

Initial operational disturbance

with little opportunity for rehabilitation

Operation of mine

Initial operational disturbance

Treatment of stockpiles &rehabilitation effort using ex

mining machinery

Rehabilitation effort post mine closure towards

obtaining closure

certificate

Existing Premature closure estimate in this region

Existing LoM estimate in this region due to incorporation of smart WRD deposition in 2007 closure estimate. This is, however, not currently being implemented

Ongoing rehabilitation

Working ‘smart’

Initial development of infrastructure and project-related disturbance

Additional operational disturbance

MIN

E C

LOSU

RE

Closure liability should NO rehabilitation effort be conducted prior to the cessation of mining operations

CES

SAT

ION

OF

MIN

ING

O

PER

ATIO

NS

Closure liability should ongoing rehabilitation be conducted in line with current mine designs and dumping strategies

Closure liability should ongoing rehabilitation be conducted in addition to improved mine designs and deposition strategies

Time

Liab

ility

Initial development of infrastructure and project-

related disturbance

Initial operational disturbance

with little opportunity for rehabilitation

Operation of mine

Initial operational disturbance

Treatment of stockpiles &rehabilitation effort using ex

mining machinery

Rehabilitation effort post mine closure towards

obtaining closure

certificate

Existing Premature closure estimate in this region

Existing LoM estimate in this region due to incorporation of smart WRD deposition in 2007 closure estimate. This is, however, not currently being implemented

Ongoing rehabilitation

Working ‘smart’

Initial development of infrastructure and project-related disturbance

Additional operational disturbance

MIN

E C

LOSU

RE

Closure liability should NO rehabilitation effort be conducted prior to the cessation of mining operations

CES

SAT

ION

OF

MIN

ING

O

PER

ATIO

NS

Closure liability should ongoing rehabilitation be conducted in line with current mine designs and dumping strategies

Closure liability should ongoing rehabilitation be conducted in addition to improved mine designs and deposition strategies

Time

Liab

ility

Initial development of infrastructure and project-

related disturbance

Initial operational disturbance

with little opportunity for rehabilitation

Operation of mine

Initial operational disturbance

Treatment of stockpiles &rehabilitation effort using ex

mining machinery

Rehabilitation effort post mine closure towards

obtaining closure

certificate

Existing Premature closure estimate in this region

Existing Premature closure estimate in this region

Existing LoM estimate in this region due to incorporation of smart WRD deposition in 2007 closure estimate. This is, however, not currently being implemented

Existing LoM estimate in this region due to incorporation of smart WRD deposition in 2007 closure estimate. This is, however, not currently being implemented

Life of Mine (LoM)

Q2 2010

Q4 2010 +

Q1 2011 +

Baseline Program

Closure Cost EstimationPremature and LoM

Life of Mine ClosureLiability & Provisioning

Rehab & Closure Scope

Rehabilitation and Closure Liability Management Project

Ongoing Review

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Thank You