Slide 1: Gold Fields Australia Site Visit: St Ives Gold Mine
Gold Fields Australia Site Visit: St Ives Gold Mine GRAEME OVENS General Manager 15th 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: St Ives Gold Mine: Location
St Ives Gold Mine Location • Located in the Eastern Goldfields Province of the Archaean Aged Yilgarn Craton • 620km from Perth • 100km South of Kalgoorlie 100% Gold Fields Owned Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 3
Slide 4: St Ives Gold Mine: Location and tenements
St Ives Gold Mine Location • 100km South of Kalgoorlie • Site extends from 5 to 25 km SSW of Kambalda • Site covers 127,556 hectares of granted tenements • Active mining areas total about 2,000 hectares • Tenements located within the Kambalda Domain of the Norseman-Wiluna Belt y the Boulder • The Ka
Slide 5: A Brief History
St Ives Gold Mine A Brief History • 1897: Gold first discovered at Red Hill 1897 • 1930’s: Mining ceased • 1966: WMC discovered Nickel • 1970’s: Explored for gold • 1980: Victory Gold Mine discovered • 1988: First dedicated gold plant built • 2001: Gold Fields acquired St Ives from WMC • 2004: New L
Slide 6: Historical Production
St Ives Gold Mine Historical Production ● 1980: Commercial Gold Production Commenced ● 2010: 10 Moz Milestone Achieved ● 2013: 120 Mt @ 3.0 g/t Au for 11.6 Moz St Ives Mined Ounces Source History 700 14 Millions TAL OUNCES MINED (Moz) WMC 5.1 Moz Gold Fields 6.9 Moz 600 12 MINED OUNCES Koz 500 10 40
Slide 7: Continued Capital Investment since Gold Fields Ownership
St Ives Gold Mine Continued Capital Investment since Gold Fields took Ownership Major Capital Investments Discovery and Development of New Mines ● Lefroy Mill (US$125m) ● Underground ● Morgan Stanley Royalty (US$308m) ̵ Athena (Discovery cost of US$61/oz) ● OP Owner Mining Fleet (80m) ̵ Hamlet (Disc
Slide 8: Morgan Stanley Royalty
St Ives Gold Mine Morgan Stanley Royalty ● Royalty Structure Cummulative Royalty Saved ̵ 10% of g gold p price above A$600/oz 350 ̵ 4% NSR Royalty from 3.3 million ounces of 300 production ● Bought back for A$308 million in August 2009 250 ● Payback of 4.5 years 200 150 100 50 - Paid H2 H1 H2 H1 H2
Slide 9: Replacement Of Reserves
St Ives Gold Mine Replacement Of Reserves M Ozs St Ives Reserves and Production 7 6 5 4 3 2 1 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Reserves Production Cumm Production Typical Regenerative Orogenic Geology Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 1
Slide 10: Senior Management Team
St Ives Gold Mine Senior Management Team (From left to right) John Goodall – Human Resources, Nigel Thomas - Business Improvement, Andrew Whibley - Technology & Capital Projects, Graeme Ovens – General Manager, Dan Worthy – Technical Services, Andrew Kozlowski – Sustainable Development, Monika Gendr
Slide 11: Senior Management Team
St Ives Gold Mine Senior Management Team Graeme Ovens – General Manager ● Strong processing background and experience in both open pit and underground mining. ● Grad Dip Mining Engineering – MAusIMM ● Experience p - 35 yyears in the Eastern Goldfields region g and NSW. Matthew O’Hara – Manager: Oper
Slide 12: Key Management Team
St Ives Gold Mine Key Management Team: Daniel Worthy – Manager: Technical Services ● Bachelor of Engineering (Mining) ● Experience: 12 years of operational mining experience in Australia, Spain & Bulgaria Gareth Cormack – Manager: Processing ● NHD in Extractive Metallurgy and Diploma in Engineering
Slide 13: Strategic Focus
St Ives Gold Mine Strategic Focus ● Strategic Plan Implementation- Sustainable Cash generation ̵ Evolving strategy in response to declining gold price & volatility ̵ Focus F on delivering d li i a ffree cash h margini andd nott tonnes t ● Restructuring the cost base ̵ Simplification of a complex mul
Slide 14: What Makes St Ives Unique?
St Ives Gold Mine What Makes St Ives Unique? ● What Makes St Ives Unique Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 14
Slide 15: Site Layout
St Ives Gold Mine Site Layout Kambalda Village Lake Lefroy Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 15
Slide 16: Site Infrastructure
St Ives Gold Mine Site Infrastructure Site, Infrastructure, Technology Mineral Resources ̵ 38.4 Mt @ 3.51 g/t for 4.34 Moz Mineral Reserves ̵ 20.7 Mt @ 3.03 g/t for 2.02 Moz Central CIL Process Plant – 4.8 Mtpa 7 Operating Mines ̵ 3 UG Mines • Athena • Hamlet • Cave Rocks ̵ 4 Open Pits • Mars • Nept
Slide 17: Key Metrics
St Ives Gold Mine Key Metrics KPI’s US$ Unit Q4 2013 Q1 2014 Safety LTI’s 1 1 Ore mined - UG kt 712 625 Mined grade - UG g/t 3.44 3.97 Ore mined - OP kt 924 214 Mined grade - OP g/t 1.38 1.37 Ore processed kt 1 207 1,207 1 282 1,282 Head grade g/t 2.55 2.35 Recovery % 93.3 94.0 Gold sold Koz 99.1 96
Slide 18: Recent Performance
St Ives Gold Mine Recent Performance Koz Production and AIC US$/oz • Focus on free cash flow and growing the margin 120 1 600 • No ounces for ounces sake, no marginal mining 1 400 100 • Optimised contractor vs owner mining 1 200 • Right-sizing of overhead structure 80 1 000 • Rationalisation, optimi
Slide 19: Geology: Deposit Size & Distribution
St Ives Gold Mine Geology: Deposit Size & Distribution ● More than just a single mine ̵ 49 Open Pits to date Revenge ̵ 15 UG mines to date 3 4 Moz 3.4 ̵ Junction Area ~2.1 Moz ̵ Argo – Athena - Hamlet ~3.7 Moz Neptune ̵ Greater Revenge Area ~3.4 Moz ̵ Victory Vi A Area ~3.7 3 M Moz ̵ Invincible Pote
Slide 20: OHS & Sustainable Development
OHS & Sustainable Development Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014
Slide 21: Safety Performance
St Ives 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) 35 28.4 29.1 30 26.9 25.2 24 24.4 23.9 25 23.5 23.5 20 Target 15 12 10 5 5 4 4 4 4 4 3 3 0 Jul-
Slide 22: Health And Safety Strategy
St Ives Gold Mine Health And Safety Strategy ● Health and Safety Strategy Initiative Goal Behavioral Based Safety: Engage 95% of St Ives workforce and embed the Vital Behaviours Vital Behaviours concepts into the St Ives safety culture Rollout new GFA Field Level Risk Assessment tool and associated
Slide 23: Environmental Management and Community Engagement
St Ives Gold Mine Environmental Management g and Community y Engagement g g • Environmentally responsible operations through ISO14001 certified Environmental Management System • Effective local Indigenous group engagement through our g Monitoring Heritage g Program g • Active engagement of the local
Slide 24: Human Resources
St Ives Gold Mine Human Resources • Primarily a Residential Site with 85% of employees living in Kambalda or Kalgoorlie • Remaining employees and contractors on FIFO • Contract camps are utilized in Kambalda Description 2013 Employees in service 713 Contractors 236 TE+C 949 Tonnes mined/ TE+C 5,058
Slide 25: Top Priorities
St Ives Gold Mine Top 5 Priorities Priorities 1 Delivery e eyo of p planned a ed ggrade ade 2 Improving performance through embedding the safety & health strategy 3 Invincible development 4 Quality reserve & resource replacement 5 Productivity and efficiency to reduce the cost base Gold Fields Austr
Slide 26: Underground Mining
Underground Mining Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014
Slide 27: Virtual Tour of an Athena Ore Drive
St Ives Gold Mine Virtual VirtualTour of An tour Of a Athena OreBody Athena Ore Drive ● The following series of 13 photographs is: • A series of faces in an Athena ore drive • Showing the typical features of the mine-scale geology face photo (looking north) face position along drive indicative grade
Slide 28: - ane
a - ane : =o — bh) = | ae ee —_— janet TT nt — ne | — — — _— —, —— —s | 1 2.00 git \
Slide 29: 4.00 g/t
4.00 g/t
Slide 30: 10.00 g/t
10.00 g/t
Slide 31: 7.00 g/t
7.00 g/t
Slide 32: 9.00 g/t
9.00 g/t
Slide 33: 15.00 g/t
15.00 g/t
Slide 34: 12.00 g/t
= 12.00 git
Slide 35: 8.00 g/t
8.00 g/t
Slide 36: TORenmieeneee TT iinmeeneeee
TORenmieeneee TT iinmeeneeee
Slide 37: 3.00 g/t
3.00 g/t
Slide 38: 4.00 g/t
4.00 g/t
Slide 39: Waste
| SATGnungmieeneee
Slide 40: Waste / basalts
basalts — bh) = | ae ee —_— janet TT nt — ne | — — — _— —, —— —s | emer
Slide 41: Underground Mining
St Ives Gold Mine Underground Mining ● Multiple mining areas Underground Mining ̵ Athena Oz US$/Oz ̵ Hamlet 350 000 600 ̵ Cave Rocks 300 000 500 ● Significant contribution to site 250 000 ̵ 2.0 Mtpa of higher grade ore 400 ̵ Over half of gold production 200 000 300 150 000 ● Mining Methodology 200 ̵
Slide 42: Underground Mining: Equipment
St Ives Gold Mine Underground Mining: Equipment Mine Production (Gold Fields Australia Pty Ltd) ● 7 x Atlas Copco MT6020 Mine Trucks (50t nominal capacity) ● 6 x Caterpillar R2900G Loaders ● 1 x Atlas Copco MC7 and 4 x Sandvik Production Drills (89 mm diameter blast holes) ● 1 x Sandvik Cable Bolter
Slide 43: Underground Mining: Athena - Hamlet
St Ives Gold Mine Underground Mining: Athena - Hamlet Surface 9305m RL 550m 895m Strike ~350m Athena Underground Mine • 42,000 tpm • Sublevel S bl lO Open St Stope with ith paste t backfill b kfill Hamlet Underground Mine • 51,000 tpm Strike ~500m • Sublevel Open Stope with paste backfill Gold Field
Slide 44: Underground Mining: Cave Rocks
St Ives Gold Mine Underground Mining: Cave Rocks Cave Rocks Underground Mine • 57,000 57 000 tpm • Sublevel Open Stope Surface 350m RL Elevation -152.5m RL Strike ~1050m Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 44
Slide 45: Open Pit Mining
Open Pit Mining Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014
Slide 46: Open Pit Mining: Mining Performance
St Ives Gold Mine Open Pit Mining: Mining Performance Change of focus Open Pits Mining Oz US$/Oz ● Margin not tonnes 350 000 600 ● Only mining to mill capacity 300 000 500 ● No Heap leach ● Owner mining 250 000 400 200 000 4 pits in operation 300 ● Mars – Ore delivery 150 000 ● West Idough – Ore del
Slide 47: Open Pit Mining
St Ives Gold Mine Open Pit Mining Owner Mining Fleet ● 16M BCM capacity ● 5 Digging Units ● 12 trucks 90 – 150t Capacity ● Drills, D ill D Dozers & A Auxiliary ili flfleett ● Additional hire fleet as required Geographic spread ● Multiple pits ● De-risked D i k d plan l ● Centralised Workshops ● Pit
Slide 48: Open Pit Mining: Neptune
St Ives Gold Mine Open Pit Mining: Neptune Ore Gold Grade Contained Stage Tonnes (g/t) Gold (oz) Neptune Stg 1 305,183 6.38 62,570 Neptune Stg 2 1,716,523 2.02 111,536 Neptune Stg 3 387,854 6.17 76,922 Neptune Stg 4 196,107 5.02 31,657 Neptune Stg 5 1,238,412 2.55 101,452 101koz TOTAL 3,844,079 3.11
Slide 49: Processing
Processing Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014
Slide 50: Processing
St Ives Gold Mine Processing ● Gyratory Primary Crusher - Produces P100 of 210 mm at 800 tph ● SAG mill (10.97 m X 6.10 m) - Produces a P80 of 125µm at 590 tph ● Gravity Circuit - 2 Falcon concentrators, 2 Jigs, regrind mill and ILR reactor. ● Leach - 5 conventional leach tanks ● CIP Circuit - 6 Sta
Slide 51: Process Flowsheet
St Ives Gold Mine Process Flowsheet Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 51
Slide 52: Processing: Lefroy Production
St Ives Gold Mine Processing Tonnes US$/t $ Lefroy Production 1 300 000 25.00 ● Nominal throughput of 4.8 mtpa ● Single SAG mill 1 250 000 ● CIP Circuit 20.00 ̵ Recoveries in excess of 93% 1 200 000 ̵ Gravity recovery ~35% 15.00 ̵ Mill availability ~ 94% 1 150 000 ● 55 staff t ff complement l t 1 10
Slide 53: Processing: Recovery and Grade
St Ives Gold Mine Processing % Recovery g/t 95 0 95.0 3 00 3.00 94.5 2.50 94.0 93.5 2.00 93.0 92.5 1.50 92.0 1.00 91.5 91.0 0 50 0.50 90.5 90.0 - C2013 Q1 C2013 Q2 C2013 Q3 C2013 Q4 C2014 Q1 Processing Recovery (%) Processing Grade (g/t) Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme O
Slide 54: Exploration
Exploration Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014
Slide 55: Regional Geology
St Ives Gold Mine Regional Geology Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 55
Slide 56: Geology: Deposit Size & Distribution
St Ives Gold Mine Geology: Deposit Size & Distribution ● More than just a single mine ̵ 49 Open Pits to date ̵ 15 UG mines to date ̵ Junction Area ~2.1 Moz ̵ Argo- Athena- Hamlet ~3.7 Moz ̵ Greater Revenge Area ~3.4 Moz ̵ Victory Vi A Area ~3.7 3 M Moz ̵ Invincible Potential +1 Moz Revenge 3.4 Moz 3
Slide 57: Exploration: Tenements & Prospectivity
St Ives Gold Mine Exploration: Tenements & Prospectivity 1. Speedway Trend Tenement Type Exploration ̵ Explore Strike/Dip Trend Proximal to Invincible Mining Miscellaneous 2. Indefatigable 3 Prospecting ̵ Follow up Orpheus, Pandora 3. Kambalda West Tenements 1 6 ̵ High Milestone Targets to Advance 4
Slide 58: Exploration: Invincible
St Ives Gold Mine Exploration: Invincible • Within operating radius of existing operations • Limited to lake disturbance only Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 58
Slide 59: Exploration: Invincible
St Ives Gold Mine Exploration: Invincible • Entirely y on lake Lefroy y • Requires causeways for access • Significant strike length • 9km of causeway development completed in 2013 Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 59
Slide 60: Exploration: Invincible Ore body
St Ives Gold Mine Exploration: Invincible Ore body ● Large high grade open pit ● Robust margin project ● Wide mineable zones (up to 20m) ● 2014 drill focus ● Provides optionality for SIGM ̵ UG position ̵ Pit expansion Invincible Invincible Far South Bl k M Block Model d lCColour l C Coded d db by A
Slide 61: Exploration: Invincible Exploration Potential
St Ives Gold Mine Exploration: Invincible Exploration Potential 2,250m NW S E 11m @ 11.2g/t g 300m 21m @ 3.0g/t Model Limit 10m @ 11.0g/t 17m @ 11.4g/t 12m @ 3.0g/t 6.5m @ 4.4g/t 17m @ 7.6g/t 21m @12.8g/t 26m @ 6.5g/t The relevance of scale… scale (Deepest Hole) Argo Athena Hamlet Gold Fields Austra
Slide 62: Exploration: Invincible Gold Vein in Core Drilled from Deep Hole
St Ives Gold Mine Exploration: Invincible Gold Vein in Core Drilled from Deep Hole @ Invincible 978m Hole Drilled Down the Orebody (Dip Parallel) ● Testing for; 1. Host rock continuity 2. Depth extensions of mineralisation ● Results: 1. 978m of host rock 2 2. M lti l mineralised Multiple i li d iint
Slide 63: Exploration: Project Generation – Speedway Trend
St Ives Gold Mine Exploration: Project Generation – Speedway Trend 1m @ 21.8 g/t (49m) ● New under-explored trend 2m @ 8.3 g/t (56m) ● Tenure T Secure S ● Proven Capacity to deliver major deposits 2m @ 24.3 g/t (24m) Gold Nugget from ~85m ● Evidence of gold along 22 km strike Downhole in RC Drilling
Slide 64: Exploration: Invincible Camp Potential Ground Magnetics Map
St Ives Gold Mine Exploration: Invincible Camp Potential Ground Magnetics Map Santa Ana Invincible OP Project Splays Invincible South trend Invincible South target Space For Several Million Ounce + Deposits Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 64
Slide 65: Exploration: Palaeochannel Project
St Ives Gold Mine Exploration: Palaeochannel Project Site ● Opportunity to identify & develop palaeochannel resource Palaeochannel Network and ● Many M km’s k ’ off untested t t d channels h l presentt an opportunity t it Current and ● Multiple palaeochannel mines operated Historic Mines ● Deliver h
Slide 66: Exploration: Kambalda West Acquisition
St Ives Gold Mine Exploration: Kambalda West Acquisition ● Highly prospective ground acquired Q4 2013 ● ~27 27,000 000 Hectares, Hectares Increased SIGM Landholding by ~27% ● Encompasses and Extends Land Package around Cave Rocks Mine Jonah ● Soil sampling programme completed end 2013 Dam ● Ground m
Slide 67: Exploration: Cave Rocks
St Ives Gold Mine Exploration: Cave Rocks ● Open pits - WMC 1,000m ● 0.5 0 5 moz ore body b d ● Open at depth & on strike E40s ● Narrow high grade veins ● Significant regional growth opportunity E70s E80s E50s “GAP” E60s Targeted Down Dip Extensions of Known Lodes Gold Fields Australia Site Visit: S
Slide 68: Further Opportunities
Further Opportunities Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014
Slide 69: Further Opportunities: Response To Lower Gold Price
St Ives Gold Mine Further Opportunities: Response To Lower Gold Price ● Planning changes ● Restructuring the cost base ̵ Value based assessment & ranking of ̵ Organisational restructure projects ̵ Reviewed & renewed contracts ̵ Strategic scenario analysis ̵ Prudent cost & capital management ̵ Consid
Slide 70: Further Opportunities
St Ives Gold Mine Further Opportunities Productivity Quality Leveraging existing processes to deliver value Doing the job well ● Open Pit ● Open Pit ̵ Consistent mining volumes ̵ Reducing damage ̵ Focus on single large pit ̵ Optimisation of Drill & Blast ̵ Targeting +5% improvement in unit rates ̵ D
Slide 71: Further Opportunities
St Ives Gold Mine Further Opportunities Invincible open pit project Extend existing mines A new flagship open pit provides opportunity for change Keep current mines producing beyond current life ● Large multi year project ● Athena ● Single open pit ore source ̵ Calisto & Europa extensions ● High mar
Slide 72: Further Opportunities: Realising Value from Non-Core Assets
St Ives Gold Mine Further Opportunities: Realising Value from Non Non-Core Core Assets Beta Hunt ̵ An A existing i ti nickel/gold i k l/ ld mine i within ithi th the St IIves llease th thatt was recently tl acquired i db by S Salt lt L Lake k Mi Mining i ● Sale of gold rights ̵ Project j did not mee
Slide 73: Creating Our Own Future
St Ives Gold Mine Creating Our Own Future ● Maintain scale of cash flow ̵ AIC targeting g g sub US$1,050 /oz ̵ Achievement of +15% FCF margin ̵ Gold production around 400,000 oz pa ● Operational philosophy pivotal on delivery and value margin ̵ Focus on value not just ounce production ̵ Simplificati
Slide 74: Conclusions
St Ives Gold Mine Conclusions • Relentless focus on margin and cash flow • No ounces for ounces sake • Situated in a highly prospective region for further gold discovery • Excellent exploration successes over many years • About to develop a major new ore body which will improve margins • Towards a s
Slide 75: Gold Fields Australia Site Visit: St Ives Gold Mine
Gold Fields Australia Site Visit: St Ives Gold Mine GRAEME OVENS General Manager 15th July 2014