Slide 1: Gold Fields Australia Site Visit: Granny Smith Gold Mine
Gold Fields Australia Site Visit: Granny Smith Gold Mine STUART MATHEWS General Manager 16th July 2014
Slide 2: Forward looking statements
Forward looking statements Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. In p particular, the forward looking g statements in this document incl
Slide 3: Introduction: Location
Granny Smith Gold Mine Introduction: Location ● Map of site/tenement position • 100% Gold Fields owned ● Show pits, plants, shafts etc ● Size of tenements etc • Located in the Eastern Goldfields Province of the Archaean Aged Yilgarn Craton • 950 km NE by sealed road from Perth • 400 km NNE by sealed
Slide 4: Introduction: Site Orientation
Granny Smith Gold Mine Introduction: Site Orientation • Granny Smith mill and village located 23 km S of Laverton • Wallaby underground mine located 15 km WSW of Granny Smith mill. • 455.2 square km granted tenements. • 111.1 square km tenement applications. • 186.9 186 9 square km miscellaneous lic
Slide 5: Introduction: History
Granny Smith Gold Mine Introduction: History • 1979: Granny Smith and Goanna deposits discovered 1989-2013 Production: • 1989: Granny Smith JV (60% Placer Pacific Ltd, 40% Total Granny Smith Project Delta Gold NL) commenced open pit mining Produced Oz - 6.7 6 7 Moz mining at Granny Smith OP Produced
Slide 6: Introduction: Historical Production
Granny Smith Gold Mine Introduction: Historical Production Granny Smith Mined Ounces Source History 600 8 ED OUNCES MINE 7 500 CES (Koz) 6 400 5 TIVE TOTAL O MINED OUNC (Moz) 300 4 3 200 ANNUAL M 2 CUMULAT 100 1 - - 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Slide 7: Key Management Team
Granny Smith Gold Mine Key Management Team 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014 7
Slide 8: Key Management Team
Granny Smith Gold Mine Key Management Team ● General Manager – Stuart Mathews ̵ Strong mining and project background in numerous commodities ̵ MSc in Geology ̵ 22 years experience both locally and internationally ● Manager Mineral Resources – Gary Sparks ̵ Strong exploration and production backgroun
Slide 9: What did we buy?
What did we buy? 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014
Slide 10: What Did We Buy?
Granny Smith Gold Mine What Did We Buy? POSITIVES CHALLENGES ● Granny Smith world class gold mining ● Processing plant, ageing infrastructure and operation equipment integrity ● A dynamic and results driven management ● Mill Capacity not utilised team ● Exploration spend required to realise ● Great
Slide 11: Resources & Reserves and Main Ore Bodies
Granny Smith Gold Mine Resources & Reserves and Main Ore Bodies Wallaby Ore Body Mineral Resources • Open Pit – 27.6 Mt @ 1.33 g/t for 1.18 Moz Z Zone 250 • Underground – 8.5 Mt @ 7.54 g/t for 2.06 Moz Zone 60 Mineral Reserves Zone 70 • Underground – 4.1 Mt @ 6.34 g/t for 838 Koz • +15% on 2012 ounc
Slide 12: Mining Methods, Mining Infrastructure and Equipment
Granny Smith Gold Mine Mining Methods, Methods Mining Infrastructure and Equipment: Wallaby Underground: ● Single decline truck haulage from a portal in the Inclined Room&Pillar Wallaby open pit LIRP1 - 4.6 x 4.6m with Longhole Stope 15m wide : “Updip” Legend ● Ramp Gradient = 1 : 7 Mined Stopes ● D
Slide 13: Processing Plant
Granny Smith Gold Mine Processing Plant • Primary Jaw and Secondary crushing circuit • 3.4 MW SAG Mill • 3.8 MW Ball Mill • 6 x Leaching and 6 x CIP circuits • Thickener, Thi k t il retreatment tails t t t • 3.5 Mtpa throughput capacity • Currently campaign milling at 1.5 Mtpa • Capital extensive pr
Slide 14: Other Site Infrastructure
Granny Smith Gold Mine Other Site Infrastructure ● Camp ̵ Contractor managed, Catercare Services ̵ Capacity of 640 modern rooms ̵ Double story Gym and Squash Courts ̵ Limestone enclosed Bar and state of the art outdoor projector ̵ Digital TV and Foxtel ̵ WIFI throughout th h t Camp C ● Flights ̵ Dua
Slide 15: Why did we buy?
Why did we buy? 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014
Slide 16: Our Due Diligence View
Granny Smith Gold Mine Our Due Diligence View ● Met the GFI key metric of 15% FCF margin at a gold price of US$1,300/oz with key opportunities: ̵ Optimise workforce ̵ Optimise capital spend including development rates ̵ Improve mining recovery and dilution ̵ Improved p g grade control models ̵ Optim
Slide 17: Our Due Diligence View
Granny Smith Gold Mine Our Due Diligence View Zone 250 Zone 60 Zone 70 Un-depleted Global Resource Z Zone 80 Intrusive 3.58Mt @ 8.50g/t for Depth 1.8km 980Koz (3.0g/t cut) Zone 90 3 84Mt @ 8.88g/t 3.84Mt 8 88g/t for Zone 100 1.1Moz (3.18g/t cut) 3.36Mt @ 9.04g/t for Zone 100 South– Target Zone 110 Z
Slide 18: Our Due Diligence View
Granny Smith Gold Mine Our Due Diligence View ● Located in highly endowed province ● >20 Moz in the Laverton Region incl: ̵ Granny Smith ~ 2.5 Moz ̵ Wallaby ~ 8 Moz ̵ Sunrise ~ 10 Moz ● 2 World Class deposits on the margin of Lake Carey in Wallaby and Sunrise ● Lake Carey grossly under-explored: ̵ N
Slide 19: What have we done since the acquisition?
What have we done since the acquisition? 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014
Slide 20: Production and AISC
Granny Smith Gold Mine Production and AISC $1 600 90 000 Barrick Gold Fields Acquisition $1 400 80 000 70 000 $1 200 60 000 $1 000 C $USD/Oz 50 000 $800 40 000 ASC $600 30 000 $400 20 000 $200 10 000 $0 $ - 2013 Q1 2013 Q2 2013 Q3 2013 Q4 2014 Q1 Gold Sold (oz) AISC (US$/oz) 2014 Analyst Visit - Gra
Slide 21: Major Initiatives Delivering Results
Granny Smith Gold Mines Major Initiatives Delivering Results Improvement focus Actual achieved Actual Achieved +/- Ozs Variance Overall Impact since Acquisition Improved process Smaller cyclones, re- +4% plant recovery +14,500 oz in 2014 Extra oz from same plant recovery work plumbing & ball ore ton
Slide 22: Key Operating Metrics
Granny Smith Gold Mine Key Operating Metrics KPI’s Unit Q4 2013 Q1 2014 Safety LTI’s 1 0 Ore mined - UG kt 362 405 Mined grade - UG g/t 6.34 5.70 Ore processed kt 330 401 Head grade g/t 6.21 5.69 Recovery % 90 8 90.8 91 1 91.1 Gold sold Koz 62.2 66.5 Revenue US$m 79.2 86.6 Operating cost US$m 46.9 4
Slide 23: Executive Summary
Granny Smith Gold Mine Executive Summary All measures designed to improve AIC and production Overall Management: ̵ Significant change in operating culture since acquisition ̵ Strong Management Team and disciplined in planning ̵ Re-structure of business to fit Gold Fields strategy for 2014 & beyond M
Slide 24: OHS & Safety and Sustainability
OHS & Safety and Sustainability 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014
Slide 25: Safety Performance
Granny Smith Gold Mine Safety Performance 12 Month Moving Average Frequency Rates Per Million Manhours (TRIFR = Lost Time Injury + Restricted Work Injury + Medically Treated Injury per Million Manhours Worked) 18 16.57 16.04 16.16 16 15.14 14 16 14.16 13.23 13.55 14 11.88 12.13 12 10 Target 8 Gold F
Slide 26: Safety Focus
Safety Focus Safety Initiatives in 2104 ● Task Observation Performed by Supervisors (TOPS) – 500 discussions per month ● Socialising safety in the field p ● Participation by y all supervisory p y staff ● Strong culture of hazard & incident reporting ● Internal Leading Indicator Environmental, Health
Slide 27: Human Resources
Granny Smith Gold Mine Human Resources Description 2013 2014 Employees in service 367 392 Contractors 85 95 TE+C 452 487 T Tonnes mined/ i d/ TE+C 1007 864 Oz Sold / TE+C 51 58 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014 27
Slide 28: Environment and Community
Granny Smith Gold Mine Environment and Community ● Pursuing ISO 14001 certification ̵ First stage audit completed June 2014 ̵ No non-conformances raised ̵ Second stage and certification scheduled for Q4 2014 ● Full compliance to the Cyanide Code ● Effective community engagement programmes in place ●
Slide 29: Top Priorities
Granny Smith Gold Mine Top Priorities Priorities 1 Ensure su e tthe e long o g te term a availability a ab ty o of su suitable tab e sou sources ces of o water ate 2 Deliver an exploration strategy to realise the full Granny Smith potential 3 Maintain the integrity of the processing facility 4 Ensur
Slide 30: Geology
Geology 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014
Slide 31: Regional Geology
Granny Smith Gold Mine Regional Geology ● Deposits hosted in the meta-sedimentary rocks in the Laverton Tectonic Zone ● Wallaby and Granny Smith mineralisation is focused where northerly trending structures interact intrusives ̵ Wallaby deposit hosted in the Wallaby conglomerate, focused at a flexur
Slide 32: Mine Geology – Wallaby Underground
Granny Smith Gold Mine Mine Geology – Wallaby Underground 2013 YE Reserve Area BCOG Ore (kt) Au (g/t) Au (koz) (g/t) Z250/60 3.63 106 4.51 15 Z70 3.63 175 4.45 25 Z80 3.76 694 5.87 131 Z90 3.96 1,943 6.24 390 Z100 4.11 1,132 7.28 265 Total 3 94 3.94 4 066 4,066 6 33 6.33 828 2014 Analyst Visit - Gra
Slide 33: Simplified Wallaby Genesis
Granny Smith Gold Mine Simplified Wallaby Genesis South SIMPLIFIED! North Pipe like Brittle zone Intrusive Suite formed Sub horizontal weakness planes formed Conglomerate host rock Gold bearing reduced fluids deposit gold along l shears h and d dil dilational ti l jjogs After Rauert, 2009 2014 Analy
Slide 34: Replacement of Reserves
Granny Smith Gold Mine Replacement of Reserves K Oz GSM Wallaby Underground Reserves and Production 1,400 1,200 1,000 800 600 400 200 ‐ 2005 2006 2007 2008 2009 2010 2011 2012 2013 Reserves Production Cumulative Production Typical Regenerative Orogenic Geology 2014 Analyst Visit - Granny Smith Gold
Slide 35: Underground Mining
Underground Mining 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014
Slide 36: Mining Method
Mining Method Mining: Typical layout - Zone 90 Mining 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014 36
Slide 37: Mining: What Are We Doing To Improve?
Granny Smith Gold Mine Mining: What Are We Doing To Improve? ● Optimising internal dilution with mining method ● Controlling ore loss through drill and blast methods ● Reducing overbreak through back analysis and planning guidelines ● Optimising recovered ounces through back analysis and pillar revi
Slide 38: Mining: What Are We Doing To Improve?
Granny Smith Gold mine Mining: What Are We Doing To Improve? Mining Dilution and Recovery: Z90 N 721 P1 ● 88% recovery of designed tonnes ● 97% recovery of designed ounces ● 11% overbreak – excellent, considering 85m combined up-dip up dip spans Green = Z80 S816 P2 Stope Red = stope voids 2014 Analy
Slide 39: Mining: What Are We Doing To Improve?
Granny Smith Gold Mine Mining: What Are We Doing To Improve? Mining Dilution and Recovery: Z80 S 816 P2 ● 90% recovery of designed tonnes ● 91% recovery of designed ounces ● 11% overbreak – much of which continued from up-dip up dip stope Green = Z80 S816 P2 Stope Red = stope voids ● Dual horizontal
Slide 40: Mining: What Are We Doing To Improve?
Granny Smith Gold Mine Mining: What Are We Doing To Improve? Slot Development Reduction ● 2nd of 4 trial blind horizontal rises have been fired with excellent results ● Demonstrated that slot drives up to 12m long can be eliminated ● 14m and 16m rises to be trialed 2014 Analyst Visit - Granny Smith
Slide 41: Mining: What Are We Doing To Improve?
Granny Smith Gold Mine Mining: What Are We Doing To Improve? Recovery of Designed Ounces ● History of approx 85%-87% mine recovery ● Focus on technical drilling & blasting to achieve +90% recovery: ̵ Investigation into dumping technique on longhole rigs to create better breakout angles at stope extr
Slide 42: Mining: What Are We Doing To Improve?
Granny Smith Gold Mine Mining: What Are We Doing To Improve? Planned Dilution ● Have maintained a minimum cumulative reduction in planned dilution of 10% since Tonnes Nov. 2013 while keeping designed ounces consistent (i (i.e. e not dropping ounces to shred planned dilution) ● Approval given to tria
Slide 43: Processing
Processing 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014
Slide 44: Processing: Circuit Post Acquisition Review
Granny Smith Gold Mine Processing: Circuit Post Acquisition Review Assessed 3 Process models • 1 Closed Circuit SAG (CCS) 1. • Closed circuit SAG, isolate ball mill and cyclone feed pumps and run SAG only on secondary crushed product. • 2. SAG and Ball Mill Closed Circuit (SABC) - reduced power • Re
Slide 45: Processing: Additional Information
Granny Smith Gold Mine Processing: Additional Information People • Operations – stabilised crew levels, skills and training levels improved during 2013 Restructured personnel late 2013 • Maintenance – reliance on outside contractors reduced, plant equipment knowledge improving Processing Plant • Age
Slide 46: Processing: Grade
Granny Smith Gold Mine Processing: Grade Processing Grade 8.0 7.0 6.0 5.0 g/t g 4.0 3.0 2.0 1.0 00 0.0 October November December January February March 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014 46
Slide 47: Processing: Recovery
Granny Smith Gold Mine Processing: Recovery Processing Recovery 100% 98% 96% 94% 92% 90% 88% 86% 84% 82% 80% October November December January February March 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014 47
Slide 48: Exploration
Exploration 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014
Slide 49: 2014 Exploration – Target Areas
Granny Smith Gold Mine 2014 Exploration – Target Areas ● 2014 Exploration budget A$12.3M ● Wallaby and Environs: ̵ Resource Drilling ̵ Wallaby Deeps ̵ Structure Reinterpretation ̵ Drill Testing Platypus Boomer ● Granny G Smith: S ith ̵ Resource Re-interpretation y ● Lake Carey: ̵ Geophysics (Gravity
Slide 50: Section Highlighting 2014 Wallaby Drilling
Granny Smith Gold Mine Section Highlighting 2014 Wallaby Drilling 2013 MY Resource Wireframes vs 2014 Planned Drilling Zone 60 Zone 250 Zone 70 Zone 70E Z100 Infill I fill and d Extensions E t i Resource Drilling Zone 80 Zone 90 Zone 90 Extensions Z100 Step-Out Inferred Resource Drilling Zone 100 Ph
Slide 51: Zone 90-100 Resource Definition: 2014 Q1 Program Progress
Granny Smith Gold Mine Zone 90 90-100 100 Resource Definition: 2014 Q1 Program Progress Zone 80 400 m Zone 90 Q4 Priority Z90 Z Zone 100 Q1-Q3 Q1 Q3 Priority Z100 Zone 100 Significant Intercepts Q1 (>14 G-M) • Detailed Resource Definition drill Hole ID From To Length Grade Zone Hole ID From To Lengt
Slide 52: Zone Step-Out Exploration: 2013 Results and 2014 Program Plan
Granny Smith Gold Mine Zone 100 Phase 2 Step Step-Out Out Exploration: 2013 Results and 2014 Program Plan 2014 Planned Drill Holes WBD012UD 7.33m @ 7.10g/t WBD013UD WB2790UD 10.5m @ 5.37g/t 1.77m @ 9.10g/t 3 89m @ 4.75g/t 3.89m 4 75g/t WBD002UD WBD001UD 10.9m @ 5.29g/t 8m @ 21.63g/t 2014 TARGET AREA
Slide 53: Zone Step-Out Exploration: 2014 Program Progress
Granny Smith Gold Mine Zone 100 Phase 2 Step Step-Out Out Exploration: 2014 Program Progress ● Seven drill holes for 2,992m completed in Q1 2014 NSA = No 2014 Completed Drill Holes Significant Assay WBD019UD 3.40 m @ 14.06 g/t @ @Z100 WBD020UD 3.05m @ 8.72g/t @Z100 CONFIRMED RESOURCE WBD021UD EXTENS
Slide 54: Wallaby Z110-120: 2013 Status
Granny Smith Gold Mine Wallaby Z110-120: 2013 Status Plan View 100m Grid Resource Drilling of Zones 110/120 ● Increase Z110/120 from 78 Koz to 1 1.0 0 Moz WBD010UD 2.1m @ 5.0g/t Zone 110 ● Add Z110/120 back into business plan 80Koz Resource WBD011UD 300m x 150m 2.85m @ 10.04g/t WBD009UD 2 8m @ 4.32g
Slide 55: Wallaby Z110/120 Q1 Resource Update
Granny Smith Gold Mine Wallaby y Z110/120 Q1 Resource Update p • “Potential” Resource increases of +300 koz Inferred resources plus 50 koz Potential resources (up from December 2013 Undepleted Global Resource of 78koz for Z110 only). Zone 250/60 • Resource to be updated in Q3 following completion of
Slide 56: Zone - Zone Exploration: 2014 Q1/2 Program Progress
Granny Smith Gold Mine Zone 130 - Zone 150 Exploration: 2014 Q1/2 Program Progress ● Six drill holes to Z150 planned for 2014 – first complete, second d iin awaiting iti assays Zone 250 Zone 60 Zone 70 Z Zone 80 Intrusive Zone 90 Depth 1.8 km Zone 100 Zone 110 Zone 120 First deep drill hole intercep
Slide 57: Zone - Zone Exploration: 2014 Q1/2 Program Progress
Granny Smith Gold Mine Zone 130 - Zone 150 Exploration: 2014 Q1/2 Program Progress Zone 250 Zone 60 Zone 70 Z Zone 80 Intrusive Zone 90 Depth 1 1.8 8 8.0m @ 4.31 g/t km Zone 100 2.63m @ 5.81 g/t Zone 110 2.82m @ 6.3 g/t Z Zone 120 2.7m @ 6.8 g/t ((15.3m @ 3.55g/t) g ) 1.83m @ 41.55 g/t 1.44m @ 13.11
Slide 58: Zone - Zone Exploration: 2014 Q1/2 Program Progress
Granny Smith Gold Mine Zone 130 - Zone 150 Exploration: 2014 Q1/2 Program Progress Zone 250 Zone 60 Zone 70 Z Zone 80 Intrusive Zone 90 Depth 1 1.8 8 8.0m @ 4.31 g/t km Zone 100 2.63m @ 5.81 g/t Zone 110 2.82m @ 6.3 g/t Z Zone 120 2.7m @ 6.8 g/t ((15.3m @ 3.55g/t) g ) 1.83m @ 41.55 g/t 1.44m @ 13.11
Slide 59: Keringal Exploration Program
Granny Smith Gold Mine Keringal g Exploration p Program g ̵ 16 km SE of Granny Smith S N ̵ High grade south plunging 400m KPGRCD001 MWD056 shoot beneath Keringal pit. Keringal Open-pit ̵ Targeting shallow high grade 350m shoot ~250 Koz. ̵ Potential for repeats along 300m 30m @ 1.34 g/t Au strike off
Slide 60: Platypus Exploration Program
Granny Smith Gold Mine Platypus yp Exploration p Program g Exploration drilling of up-dip projection of Wallaby Lodes to Orc mineralisation ̵ 1,800 m RC/diamond drilling ̵ 3 drill holes ̵ 1 2 Moz 1-2 M target t t A’ TARGET AREA A Meters 2010 MOY Resource plus Drill Holes 2014 Analyst Visit - Granny
Slide 61: Boomer Exploration Program
Granny Smith Gold Mine Boomer Exploration p Program g ̵ Exploration drilling for Wallaby type deposit beneath Wedge Fault mineralisation ̵ 1,000 m RC/diamond drilling ̵ 2 drill holes ̵ 1-2 Moz target MERCD0070 Target area Approximately 300m from surface H. Platt 2013 2014 Analyst Visit - Granny Smit
Slide 62: Lake Carey Geophysics (Detailed Mag & SAM Surveys)
Granny Smith Gold Mine Lake Carey y Geophysics p y ((Detailed Mag g & SAM Surveys) y ) • Generation of drill targets on Lake Granny Smith Orc: Carey Up dip projection of Wallaby Lodes • Review previous (Placer) Wallaby exploration • Complete Tail Pipe: N trending shear and intrusive detailed gravity
Slide 63: What are our future expectations?
What are our future expectations? 2014 Analyst Visit - Granny Smith Gold Mine | Stuart Mathews| July 2014
Slide 64: A World Class GFI Franchise Asset
Granny Smith Gold Mine • A world class GFI franchise asset with an excellent strategic fit to the Group • Ore body support for consistent Reserve replacement and growth from lateral and depth extensions • We can see a life of at least 10 years, with upside potential for more The Granny Smith future
Slide 65: Gold Fields Australia – Granny Smith Gold Mine
Gold Fields Australia – Granny Smith Gold Mine STUART MATHEWS General Manager 16th July 2014