Newcrest Mining — BMO Global Metals, Mining & Critical Minerals Conference 2023
35 slides from Newcrest Mining's conference presentation, February 2023
Slide 1: A unique investment in gold and copper
BMO GLOBAL METALS, MINING & CRITICAL MINERALS CONFERENCE A unique investment in gold and copper Sherry Duhe Interim Chief Executive Officer
Slide 2: Disclaimers
Disclaimers Forward Looking Statements This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as “may”, “will”, “expect”, “int
Slide 3: Disclaimers
Disclaimers Technical and scientific information The technical and scientific information contained in this document relating to Cadia, Lihir, Red Chris and Wafi-Golpu was reviewed and approved by Craig Jones, Newcrest’s Interim Chief Operating Officer, FAusIMM and a Qualified Person as defined in N
Slide 4: Newcrest has a unique portfolio of Tier 1 gold and copper assets
Newcrest has a unique portfolio of Tier 1 gold and copper assets1 Portfolio has strategically repositioned over the past 5 years Quality portfolio includes high margin gold and copper assets with long Red Chris2 reserve lives Brucejack High-return and established organic growth pipeline supported by
Slide 5: Advancing multiple gold and copper growth options
Advancing multiple gold and copper growth options8 Rigorous capital allocation framework investing in value generating projects Exploration Early Studies PFS Feasibility Execution Golden Marmot Ore Sorting Mine Mill Debottlenecking Two-Stage Plant Expansion Red Chris Block Cave (Brucejack) Optimisat
Slide 6: Cadia is a world class asset
Cadia is a world class asset Key milestone completion reinforces Cadia’s position as a world class, multi-decade gold and copper producer Cadia Expansion Project PC1-2 Feasibility Study11,12 • Two-stage plant expansion now • Maintains Cadia’s long-life complete production profile • Mill throughput r
Slide 7: Unlocking value at Red Chris through unique block caving skills
Unlocking value at Red Chris through unique block caving skills Multiple value enhancing opportunities being progressed through the Feasibility Study and beyond Gully Zone Key value enhancing opportunities Pre-Newcrest Search Space Au ppm Main Zone East Zone OP Access high grade ore earlier Potentia
Slide 8: Red Chris exploration success delivers additional mining potential
Red Chris exploration success delivers additional mining potential East Ridge is a substantial discovery near existing infrastructure with potential for additional block caves19 East Ridge is a significant discovery • Mineralisation sits outside of Newcrest’s Mineral Resource estimate7 East Zone Dec
Slide 9: Brucejack has multiple levers for further value generation
Brucejack has multiple levers for further value generation Transformation program continues to pursue multiple value opportunities as exploration success continues Impressive results in early ore sorting trials • Safety transformation underway • Synergy expectations: ~US$16-24M per annum20 through I
Slide 10: Lihir is entering its high grade phase
Lihir is entering its high grade phase Mining is moving from the low grade pit saddle into higher grades, with further significant potential beyond FY3119 Lihir is transitioning to sustained high grades Total ex-pit mining (Mt) Recoveries (%) 50 10 80% Actual Forecast Higher sustained gold grades 40
Slide 11: Lihir's higher grade Kapit provides significant long-term potential
Lihir’s higher grade Kapit provides significant long-term potential19 Engineered steep wall and seepage barrier options allow Isometric View access to additional high grade Kapit Mineral Resources X High Grade Kapit Reserve • 20Moz high-grade Mineral Resource sits outside the current Ore Reserve7 NS
Slide 12: Multiple gold and copper growth options in the portfolio
Multiple gold and copper growth options in the portfolio Newcrest continues to generate value across its portfolio Wafi-Golpu Telfer West Dome Stage 8 • Telfer mine life extended into • One of the best undeveloped copper-gold deposits in the early FY25 with WDS8 world cutback approved10 • Recent neg
Slide 13: Newcrest has a material and growing exposure to copper
Newcrest has a material and growing exposure to copper Copper has a compelling growth outlook as a critical metal for a more sustainable future Copper Resource & Reserve Base of Newcrest’s provinces7,26 Growth: Strong copper production expected in FY23 3,500 Reserve & Resource: Significant copper Mi
Slide 14: Increased shareholder returns and strong balance sheet
Increased shareholder returns and strong balance sheet Newcrest is in an excellent position to fund its pipeline of growth options while providing strong shareholder returns Returning cash to shareholders (US cents / share) Leverage ratio (Net Debt / EBITDA) Gearing ratio Target less than 2.0 times
Slide 15: Newcrest is a unique investment in gold and copper
Newcrest is a unique investment in gold and copper Cu Low-cost Outstanding Material Long Strong Financially production organic growth copper reserve life exploration & robust portfolio exposure technical capabilities 15
Slide 16: Appendices
Appendices @ NEWCREST MINING LIMITED
Slide 17: Endnotes
Endnotes 1. Newcrest defines Tier 1 assets as those having potential for >300kozpa Au at <US$800/oz AISC with a potential mine life >15 years (preferred) and significant resource or exploration upside likely. Newcrest defines Tier 2 assets as those having potential for >200kozpa Au at <US$900/oz AIS
Slide 18: Endnotes
Endnotes 18. The Red Chris drill results have been extracted from Newcrest’s releases titled “Quarterly Exploration Report” dated 30 June 2021 and 28 October 2021. 19. Subject to further studies, all necessary approvals, permits, internal and regulatory requirements and further works and no unforese
Slide 19: Newcrest operating assets and advanced projects
Newcrest operating assets and advanced projects1 Newcrest is in an enviable position with exposure to six Tier 1 orebodies and a growing presence in Tier 1 regions Red Chris (70%) Location: British Columbia, Canada Product: Gold, Copper Brucejack (100%) Location: British Columbia, Canada Product: Go
Slide 20: Leading Newcrest through the next phase of growth
Leading Newcrest through the next phase of growth Strong executive team empowering Newcrest’s people to deliver positive outcomes Sherry Duhe Megan Collins Craig Jones Dan O’Connell Interim Chief Executive Officer Chief People and Culture Officer Interim Chief Operating Officer Interim Chief Financi
Slide 21: Quality portfolio with long reserve lives
Quality portfolio with long reserve lives Newcrest’s portfolio consists of an industry leading number of gold and copper assets of significant scale Gold Resource & Reserve base of global majors’ assets (Au Moz)1,2,3,4,5,6,7 45 Solid bars = Ore Reserve 40 Transparent bars = Measured & Indicated Mine
Slide 22: Exploration growth potential advancing across all regions
Exploration growth potential advancing across all regions Copper-Gold Copper-Gold Higher HigherGrade Gold Grade Gold • Cadia: Multi decade gold-copper mine • Brucejack: High grade gold mine • Red Chris: Future potential Tier 1 • Fruta del Norte: High grade gold copper-gold operation1 mine • Golpu: H
Slide 23: Newcrest has grown assets through exploration and innovation
Newcrest has grown assets through exploration and innovation Exploring, innovating and mining deeper delivers growth in porphyry copper-gold districts 1992 Cadia Hill discovered by early Newcrest 1993 Outcrop target area Early recognition of First Cadia Ridgeway Cadia Hill potential mine Cadia East
Slide 24: Industry leading innovation capabilities
Industry leading innovation capabilities Newcrest has an incredible pipeline of growth projects with the operational and technical capability to deliver them Newcrest’s Key Competitive Capabilities Newcrest has a proven track record of creating High Lift Deep Caving Low Exposure Mechanised Mining va
Slide 25: Red Chris, British Columbia
Red Chris, British Columbia Application of Newcrest’s approach to grow high grade porphyry copper-gold district, through deep exploration, delivering a new mining operation Now Short Term Long Term East Zone East Ridge Regional Portfolio • Highest grade copper-gold porphyry in British • Searching de
Slide 26: Brucejack, British Columbia
Brucejack, British Columbia Growing a higher grade gold region through deep exploration Now Short Term Long Term Valley of the Kings Valley of the Kings growth Brownfields growth • Aggressive exploration program since 2021 • VOK remains open in all directions • 4 km Brucejack Epithermal Trend • New
Slide 27: Paterson, Western Australia
Paterson, Western Australia A new era of discovery with a Havieron-like search within a big metal district Now Short Term Long Term Havieron New growth Regional portfolio • Rapid exploration since 2019 has delivered a Mineral • Growth drilling continues to show higher grade • Newcrest Anchor Region:
Slide 28: Newcrest operating assets and advanced projects
Newcrest operating assets and advanced projects1,2 Cadia Province (Ownership: 100%) Lihir Province (Ownership: 100%) Telfer Province (Ownership: 100%, Havieron: 70%) FY22 Production 561koz Au, 85kt Cu FY22 Production 687koz Au FY22 Production (Telfer) 408koz Au, 14kt Cu FY22 AISC -$124/oz FY22 AISC
Slide 29: FY23 half year results summary
FY23 half year results summary Fruta del 6 FY23 half year actuals1 Cadia Lihir Telfer Brucejack Red Chris1 Havieron5 Other Group Norte1,2 Production Gold (koz) 311 319 172 136 22 78 - - 1,039 Copper (kt) 51 - 6 - 10 - - - 67 All-In Sustaining Cost (AISC) – includes production stripping (sustaining)
Slide 30: FY23 guidance
FY23 guidance1,2,3 Fruta del 5 FY23 guidance Cadia Lihir Telfer Brucejack Red Chris Havieron Other Group Norte4 Production Gold (koz) 560 - 620 720 - 840 355 - 405 320 - 370 ~30 125 - 145 - - 2,100 - 2,400 Copper (kt) 95 -115 - ~20 - ~20 - - - 135 - 155 All-In Sustaining Cost (AISC) – includes produ
Slide 31: Foreign exchange, operating costs & oil hedges
Foreign exchange, operating costs & oil hedges Foreign exchange1 HY23 Indicative currency exposure on US dollar operating costs Foreign exchange sensitivity Foreign Exchange Estimated HY23 Impacts USD AUD PGK CAD Parameter Movement EBIT impact ($M) Cadia 25% 75% - - AUD:USD +0.01 AUD 0.68 to 0.69 (5
Slide 32: Long term debt structure in place to support growth
Long term debt structure in place to support growth Newcrest is well positioned with more than 7 years until the next Corporate Bond repayment is due Net debt position as at 31 December 2022 ($M) Debt maturity profile ($M) 3,707 1,200 Drawn Debt Undrawn Facilities 1,000 2,889 Brucejack cash consider
Slide 33: Newcrest: Ore Reserves
Newcrest: Ore Reserves Summary as at 30 June 20221,2,3 Gold Copper Proved Reserves Probable Reserves Proved Reserves Probable Reserves Ore Reserves As at 30 June 2022 Dry Dry Dry Dry Au Grade Insitu Au Au Grade Insitu Au Cu Grade Insitu Cu Cu Grade Insitu Cu Tonnes Tonnes Tonnes Tonnes (g/t) (Moz) (
Slide 34: Newcrest: Measured and Indicated Mineral Resources
Newcrest: Measured and Indicated Mineral Resources Summary as at 30 June 20221,2,3,4 Gold Copper Measured and Indicated Mineral Measured Mineral Resource Indicated Mineral Resource Measured Mineral Resource Indicated Mineral Resource Resources As at 30 June 2022 Dry Dry Dry Dry Au Grade Insitu Au Au
Slide 35: Newcrest: Inferred Mineral Resources
Newcrest: Inferred Mineral Resources Summary as at 30 June 20221,2,3,4 Gold Copper Inferred Mineral Resource Inferred Mineral Resource Inferred Mineral Resources As at 30 June 2022 Dry Tonnes Au Grade Insitu Au Dry Tonnes Cu Grade Insitu Cu (Mt) (g/t) (Moz) (Mt) (%) (Mt) Total Cadia Province5 550 0.
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