Gold Fields Limited · JSE:GFI
Gold Fields — Investor Presentation (2009)
36 slides from Gold Fields's investor presentation, 2009
Slide 1: Australasia Region
164 AUSTRALASIA REGION Glenn Baldwin Head: Australasia Region
Slide 2: Introduction
165 AUSTRALASIA REGION Introduction Australia a premier mining destination. Emphasis on consolidation and delivery. St Ives - a mine in transformation. Agnew - a new lease on life. Building a greater presence in premier gold belts with long term option value. Delivering a strong near mine and greenf
Slide 3: Regional Strategy
166 AUSTRALASIA REGION Regional Strategy • If we cannot mine safely, we will not mine • Environmental management at world class levels Secure The Future • Develop and retain our people • Convert exploration success to reserves • St Ives: realign cost base and maximise the mill feed grade Sweat the A
Slide 4: Delivering Organic Growth
167 AUSTRALASIA REGION Delivering Organic Growth • St Ives Koz Gold Produced - rebuilding phase to 110 Koz/q 180 - goal to be a consistent 125 Koz/q for 10yrs • Agnew 160 - a steady producer 45-50 Koz/q - goal to increase LoM to +7yrs 140 120 • YoY reserve growth from 2.5 moz to 3.0 Moz • Replaced d
Slide 5: Royalty termination reduces cash costs by A$108/oz
AUSTRALASIA REGION Source:Austock Securities 1000 1200 1400 200 400 600 800 0 Ridge eway Cadia a Hill A$308 MILLION REDUCES CASH COSTS BY A$108/OZ First 25% of mines by cost Challenger Charters Tow wers Peak P Pauls sen's Pajingo JV Mt Raw wdon Ya andal (AT GOLD PRICE OF $1,200/OZ) ROYALTY TERMINATI
Slide 6: Contribution to GFL
169 AUSTRALASIA REGION Contribution to GFL Leverage To The Price Of Gold Ounces Produced F2009 F2008 Koz Koz St Ives 428,299 417,718 Agnew 192,077 203,710 Australasian Production 620,376 621,428 Operating Profit before Tax A$000 A$000 St Ives 49,682 15,167 A Agnew 83 963 83,963 40 603 40,603 Austral
Slide 7: St Ives Gold Mine: A Mine in Transformation
170 AUSTRALASIA REGION St Ives Gold Mine Production (Koz) Open Pit and Underground Mines with 4.8Mtpa CIP 140 Plant and 2.4Mtpa Heap Leach facilities. 120 100 80 Full production reached for Belleisle, and Cave Rocks underground mines, and Leviathan open pit mine. 60 Ramping up Agamemnon and Apollo o
Slide 8: Production and Cost Profile
171 AUSTRALASIA REGION St Ives Gold Mine P d ti Production and d Cost C tP Profile fil 600 000 1 000 900 500 000 800 400 000 700 600 300 000 500 es Gold $/oz A$ 400 200 000 300 Ounce 100 000 200 100 0 - F2010 F2011 F2012 F2013 F2014 F2015 F2016 F2017 F2018 F2019 F2020 Production NCE Cash Costs RESER
Slide 9: St Ives Gold Mine
172 AUSTRALASIA REGION St Ives Gold Mine Continuous drive for unit cost reductions and higher g margins g Managing the mine to mill process through improved dilution and blending controls. Focus on grade control drilling to improve geological models and tighten resource – reserve – gold reconciliati
Slide 10: St Ives Gold Mine
173 AUSTRALASIA REGION St Ives Gold Mine Exploration success critical to production profile Delineation of new underground mines. Open Pit consolidation and discovery. Focused Project Development Pipe line Replace depleted ounces. Grow the ounce profile in addition to depletion (e.g. Athena). NEXT G
Slide 11: St Ives Gold Mine
174 AUSTRALASIA REGION St Ives Gold Mine Kalgoorlie 50 km Cave Rocks (0.2 Moz Moz)) z Moz)) (Camp Scale potential) z Greater Santa Ana (0.8 Moz Moz)) z Belleisle (0.1 Moz St Ives z Greater Revenge (2.1 MozMoz)) (Camp scale potential) Lefroy Mill z Moz)) z Leviathan (3.7 Moz Heap Leach z Argo (1.1 Mo
Slide 12: Athena Camp
175 AUSTRALASIA REGION Athena Camp A DEVELOPING NEW CAMP Poseidon Basalt Reserve Conversion 4 Projects Dolerite Blue Lode Resource Growth Clift Clifton 4 Projects Target Definition Apollo Pollux 2 Projects Zeus Dido D •Zeus Z Argo – 2m @ 28.6 g/t – 5m @ 5.0 g/t Hamlet • Dido Athena Yorick – 6m @ 9.7
Slide 13: St Ives Gold Mine: Athena Long Section
176 AUSTRALASIA REGION St Ives Gold Mine South North 309m Sediment Athena Mineralisation - Long Section Oxide 0m South Shoot Central Shoot North Shoot 2-3m wide 5-12m wide 3-7m wide 8-20g/t 8 20g/t 5-12g/t 5 12g/t 3-9g/t 3 9g/t 69 holes 127 holes 13 holes Athena Paringa Basalt Basalt -300m 500m “RIV
Slide 14: Athena Cross Section of the Central Shoot
177 AUSTRALASIA REGION St Ives Gold Mine Athena -Cross Section of the Central Shoot •Hosted in Paringa Basalt. •Consistent Structure. •Mineralised for 500m on strike. •Drill defined to 600m below surface. Open on strike 8m. •Average Width 8m and at depth STEEPLY DIPPING WITH WIDTH & GRADE
Slide 15: Two New Gold Projects One Kilometre Apart
178 AUSTRALASIA REGION St Ives Gold Mine Athena Hamlet Options TWO NEW GOLD PROJECTS ONE KILOMETRE APART
Slide 16: Athena Underground
179 AUSTRALASIA REGION St Ives Gold Mine Athena Underground • Mechanised long hole retreat stoping • Top down without backfilling initially • Proven mining methods and techniques • Consistent orebody strike Ö Uniform Stope Shapes in Highly Competent p rock • 25m floor-to-floor sublevel interval • Tw
Slide 17: Athena Project Key Metrics
180 AUSTRALASIA REGION St Ives Gold Mine Athena Project Key Metrics Project start date July 2009 Fi t ore First Q1 F2011 Full production Q1 F2012 Annual gold at full production 85 to 95koz Life of Mine 10 to 15 years Initial capital cost A$95 million Average NCE at full production A$ 770/oz REAL VAL
Slide 18: Athena Accelerated - Box Cut Commenced in July
181 AUSTRALASIA REGION St Ives Gold Mine ATHENA ACCELERATED - BOX CUT COMMENCED IN JULY
Slide 19: Hamlet Drilling Delivering Spectacular Grades
182 AUSTRALASIA REGION St Ives Gold Mine Hamlet Long Section HAMLET DRILLING DELIVERING SPECTACULAR GRADES
Slide 20: Life of Mine by Open Pit and Underground
183 AUSTRALASIA REGION St Ives Gold Mine Life of Mine Open Pitt Mines: Ope es Leviathon ~3 years Agamemnon ~2 years Apollo ~22 years Neptune – seeking a 5 year LoM Underground Mines: Argo ~10 10 years Cave Rocks ~5 years Belleisle ~2 years Athena +10 years Hamlet ~8 years LONGEVITY LEADS TO RETURN O
Slide 21: Goals
184 AUSTRALASIA REGION St Ives Gold Mine GOALS Athena camp 4 Moz potential potential. Target to at least double the St Ives LoM to 10 years. Five underground mines by F2011. Targeting 500koz p.a. steady state production by F2012. PROFITABLE, LONG LIFE & CONSISTENT PRODUCER
Slide 22: The Transformation of St Ives
185 AUSTRALASIA REGION St Ives Gold Mine THE TRANSFORMATION OF ST IVES
Slide 23: Agnew Gold Mine
186 AUSTRALASIA REGION Agnew Gold Mine Production (Koz) Steady State 47 Koz/q. 60 An underground g mine with a 1.3Mtpa CIL plant. 50 40 High grade Waroonga Orebody contains the Kim and Main Lodes extend at depth. 30 20 p Link drive completed at depth. p 10 Highly prospective corridor between Kim and
Slide 24: Agnew Production and Cost Profile
187 AUSTRALASIA REGION Agnew Gold Mine Production and Cost Profile 250 000 900 800 200 000 700 600 150 000 Gold 500 A$/ozz 400 100 000 Ounces G 300 50 000 200 100 0 0 F2010 F2011 F2012 F2013 F2014 F2015 A LONG LIFE CONTENDER BASED ON F2010 GOALS
Slide 25: Sweating the Assets
188 AUSTRALASIA REGION Agnew Gold Mine Sweating the Assets Productivity - Link drive completed 700m below surface. Geotechnical - New level designs for Kim and Main Lodes Lodes. Temperature - Infrastructure designs started. Cost – efficiency and flexibility in designs. A NEW ORE SOURCE CRITICAL TO T
Slide 26: Current Development: Mining Kim and Main Lodes
189 AUSTRALASIA REGION Agnew Gold Mine Current Development MINING KIM AND MAIN LODES
Slide 27: Kim South Extension – Indicated Potential
190 AUSTRALASIA REGION Agnew Gold Mine Kim South Extension – Indicated Potential Interpretation p of current data indicates the potential for the Kim lode mineralisation to remain on the AGMC tenement down to 8,800mRL. Data also suggests target area Interpreted projection of Kim Reef potentially p y
Slide 28: Kim South Extension
191 AUSTRALASIA REGION Agnew Gold Mine Kim South Extension Kim Lode Surface Drilling g targeting g g Kim Lode from 9300m-9100mRL (surface 10500mRL). 7 of 30 planned “pierce points” completed Lode currently appears to have a longer strike length and steeper dip. 9500mRL HoleID Lode IntervalandGrade K
Slide 29: Kim South Extension – Results To Date
192 AUSTRALASIA REGION Agnew Gold Mine Kim South Extension – Results To Date (Kim Total) Planned Surface hole Completed Surface hole 2.7m at 2.0g/t Planned U/G Hole 5.9m at 19.6g/t 7.4m at 6.2g/t 6.9m at 7.7g/t 1.1m at 4.5g/t 6.0m at 7.9g/t 5.9m at 2.8g/t 3.8m at 10.5g/t 3.8m at 5.0g/t 5.6m at 7.5g/
Slide 30: Main Lode Extension – Indicated Potential
193 AUSTRALASIA REGION Agnew Gold Mine Main Lode Extension – Indicated Potential Following similar logic to the depth extent of Kim Lode, Main Lode will be tested. tested Potential projection of Main Lode 1100m ASSUMING THE SAME FOR MAIN LODE
Slide 31: Whole of Waroonga: Prospective Exploration Space
194 AUSTRALASIA REGION Agnew Gold Mine Whole Of Waroonga • Depth extensions to Main and Kim. • Under-tested areas (Rajah, 450 South). • New targets (350 South, strike extensions). • Remnant resource (opportunities). PROSPECTIVE EXPLORATION SPACE
Slide 32: Production Strategy
195 AUSTRALASIA REGION Production Strategy Blend Kim and Main Lodes. Fill the mill (1.3Mtpa). Fi d another Find h ore source. PLAN FOR A GOOD CASH FLOW GENERATOR FOR +5 YEARS
Slide 33: Greenfields Exploration
196 AUSTRALASIA REGION Greenfields Exploration Focus on 2 countries • Australia • Philippines • Exposure to world class gold belts. • Positioning Gold Fields for sustainable value accretion. Australia • Consolidation in the East Lachlan with growing pipeline. i li • 4 JV’s with significant drill pro
Slide 34: Regional Growth Pipeline
197 AUSTRALASIA REGION Regional Growth Pipeline Targeting 1 Moz within five years Early stage Advanced Stage Feasibility Construction Exploration Exploration • Australia • St Ives • St Ives • St Ives – East Lachlan JV JV’ss (4) - Zeus – Hamlet - Athena underground – Delamerian - Dido – Agnew - Apoll
Slide 35: Conclusion
198 AUSTRALASIA REGION Conclusion Regional Production Targets (Koz) 1 200 1 000 +300 1,000 800 +60 600 +56 620 584 400 200 0 F2009 Actual Q1F2010 Annualised Steady State (Sweat the Grow Gold Fields (on-mine) Grow Gold Fields (off-mine) F2015 Target Assets) TARGET: 1 Moz P.A. ATTRIBUTABLE PRODUCTION
Slide 36: Proven Track Record
199 AUSTRALASIA REGION Proven Track Record RAIN, STORM OR SHINE.... WE FIND GOLD!