Slide 1: Motheo Copper Mine Investor Site Tour
ASX:SFR 20 May 2024 MOTHEO COPPER MINE INVESTOR SITE TOUR Sandfire Resources Limited (Sandfire) is hosting an investor and analyst site tour on Monday, 20 May 2024 at our Motheo Copper Mine in Botswana. The tour will include a visit to the Processing Plant, T3 and A4 Open Pits and supporting infrast
Slide 2: Motheo Copper Mine Investor site visit
For personal use only Motheo Copper Mine Investor site visit 20 May 2024 SANDFIRE WBCAST
Slide 3: Important Information and Disclaimer
Important Information and Disclaimer For personal use only This presentation has been prepared by Sandfire Resources Ltd (Sandfire or the Company) and contains information about Sandfire Key assumptions current at the date of this presentation. The presentation is in summary form, has not been indep
Slide 4: Important Information and Disclaimer (cont.)
Important Information and Disclaimer (cont.) For personal use only SFR Mineral Resources and Ore Reserves estimates The information in this Presentation that relates to SFR’s Mineral Resources or Ore Reserves is extracted from SFR’s ASX releases and is available at https://www.sandfire.com.au/where-
Slide 5: Important Information and Disclaimer (cont.)
Important Information and Disclaimer (cont.) For personal use only Statutory and Non-statutory measures Sandfire adopts a combination of International Financial Reporting Standards (IFRS) and non-IFRS financial measures to assess performance. Underlying earnings measures, cash flows from operating a
Slide 6: Highlights
Highlights For personal use only Modern processing hub Ramp up to plan Highly prospective established in the with potential for belt-scale exploration Kalahari Copper Belt additional capacity Higher processing rates Optimising the mine Increasing orebody will derisk the base case plan to bring forwa
Slide 7: Our leadership team in Botswana
Our leadership team in Botswana For personal use only Dale Burgess Executive - Country Head - Botswana Francinah Tjitjindua Karabo Tlhabiwe John Baker Portia Anderson Gareth Lendrum Onkgopotse Maritintshi Chief Financial Officer External Affairs and General Manager IT Manager Procurement and Corpora
Slide 8: Safety and environment
Safety and environment Motheo Operations TRIF of 0.8 at 31 March 2024 For personal use only • Outstanding safety record with only 1 recordable injury sustained during construction of the 3.2Mtpa project • A rise in high-potential incidents highlights the work we have to do to ensure the health and w
Slide 9: Our people and communities
Our people and communities Committed to delivering a lasting positive contribution For personal use only • Investment in communities through partnerships and sponsorships • Committed to developing the local supply chain and supporting Citizen Economic Empowerment (CEE) • Gender-Based Violence Policy
Slide 10: Motheo – A successful start to life
Motheo – A successful start to life October 2019 Early 2020 November 2020 Late 2020 July 2021 Sandfire acquires MOD Resources T3 DFS, A4 discovery and FID on 3.2Mtpa, pre-commit to KCB exploration tenure T3 mining licence approval, For personal use only fast-track 5.2Mtpa consolidation begin constru
Slide 11: Acquisition of MOD Resources
Acquisition of MOD Resources Completed 23 October 2019 For personal use only • MOD acquired for A$167M in scrip and cash • Only T3 was at a Feasibility Study phase • Held a highly prospective, dominant ground holding in the KCB MOD Feasibility study highlights1 • Targeted ~30kt copper production for
Slide 12: Reworked T3 feasibility & A4 discovery
Reworked T3 feasibility & A4 discovery Motheo 3.2Mtpa DFS Indicative Production Profile T3 Definitive Feasibility study highlights2 • December 2020 For personal use only • Assumed 3.2Mtpa capacity • Configuration supported expansion to 5.2Mtpa • Single-stage SAG circuit • Coarse grind size (P80 of 2
Slide 13: A bigger opportunity than just T3
A bigger opportunity than just T3 Motheo 5.2Mtpa DFS Indicative Copper Production Fast-tracked 5.2Mtpa expansion case3 • August 2022 For personal use only • Expansion from 3.2 to 5.2Mtpa confirmed as the base case • Committed to T3 development whilst fast-tracking A4 • US$20M pre-commitment for scal
Slide 14: Consolidating our belt-scale advantage
Consolidating our belt-scale advantage 2019 2024 For personal use only Motheo Investor Site Visit | 12
Slide 15: Earning our license to operate
Earning our license to operate An employer of choice in Botswana For personal use only • >95% Batswana workforce from day one supporting the Botswana Government’s policies on labour and Citizen Economic Empowerment • Mine accommodation built to Australian standards • Rosters also competitive with Au
Slide 16: Mine development during COVID-19
Mine development during COVID-19 Managing the challenge of the pandemic For personal use only • Our confidence in the project allowed us to start detailed engineering and design ahead of a final investment decision • Early design allowed early ordering of equipment mitigating the period of rapid pri
Slide 17: Construction
Construction February 2022 February 2022 February 2022 For personal use only A3 Highway junction and 15km access road D’Kar Village community meeting Mine services area, process plant, construction construction camp and access road (background) June 2022 March 2022 March 2022 Motheo mine village nea
Slide 18: Construction
Construction June 2022 June 2022 October 2022 For personal use only Crusher retaining wall backfill underway, ROM pad Process plant civil works 60% complete T3 mine Stage 1 open pit, 40,000 BCM per day mined under construction February 2023 February 2023 October 2022 Dry plant +95% complete with com
Slide 19: Motheo Mine Site layout
Motheo Mine Site layout Access road & infrastructure Mine Village corridor Motheo Hub Location 132kV Switching Station For personal use only A4 Open Pit T3 Open Pit ROM Pad A4 Haul Road Motheo Process Plant TSF Cell 1 TSF Cell 2 Motheo Investor Site Visit | 17
Slide 20: Motheo Copper Mine 5.2Mtpa Processing Facility
Motheo Copper Mine 5.2Mtpa Processing Facility Reagent store Laboratory Administration For personal use only Clinic Workshop Water Services Grinding Ball Mill Primary Crushing Tails Raw Water Thickener Pond Feed Conveyor Pebble Crushing Coarse Ore Stockpile & Reclaim Concentrate Flotation Thickening
Slide 21: Successful transition to operations
Successful transition to operations 3.2Mtpa commercial production achieved 1 July 2023 For personal use only • Plant commissioning during H1 of CY23 • Commercial production from 1 July 2023 • Softer ore than expected and lower power draw on the SAG mill indicated an opportunity for processing rates
Slide 22: Concentrate filtration
Concentrate filtration New Filter and Filtration Shed Concentrate moisture management For personal use only • Two rental filters have been operating from 13 Nov 2023 and will remain in operation until the new permanent filter is fully commissioned • A third rental unit was installed in March 2024 to
Slide 23: Infrastructure
Infrastructure Built to the highest standards For personal use only • Tailings Storage Facility (TSF) is built to ICMM standards which exceed local requirements • Double lined HDPE • Designed to restrict potential fauna access • TSF Stage 1 completed in March 2023 • TSF Stage 2 construction is on tr
Slide 24: Ramp up from 3.2Mtpa to 5.2Mtpa
Ramp up from 3.2Mtpa to 5.2Mtpa Expansion of the newly commissioned plant to 5.2Mtpa For personal use only • Ball Mill tie-in undertaken in December 2023 • Rapid ramp up to the 5.2Mtpa rate, however some early throughput variability • 4.7Mtpa average throughput rate achieved across Q3 FY24 • Variabi
Slide 25: Derisking the future of Motheo
Derisking the future of Motheo T3 Pit Optimisation New final pit Ongoing optimisation of the mine plan DFS final pit For personal use only • More favourable than expected mining conditions at T3 allow for greater flexibility in the mine plan • Optimised waste-stripping profile through pit redesign •
Slide 26: Ongoing pit design optimisation
Ongoing pit design optimisation T3 Previous LoM plan T3 Current LoM plan A4 Previous LoM plan A4 Current LoM plan For personal use only 4 4 2 3 1 2 1 2 1 2 5 3 3 1 • T3 rephased to include 5 stages to balance waste stripping • A4 rephased to 3 stages balancing ore release and waste stripping with an
Slide 27: Seeking to bring forward metal production
Seeking to bring forward metal production Motheo 5.2Mtpa DFS Cu Eq Production Profile Ongoing optimisation of the mine plan For personal use only Seeking to bring metal production forward 70,000 to fill the projected decline and optimise 1.40 • FY24 and FY25 CuEq production outlook unchanged from th
Slide 28: T3 Updated geological interpretation
T3 Updated geological interpretation Isoclinal fold hinge in For personal use only the T3 pit wall Pit wall geological mapping has supported an updated geological interpretation Motheo Investor Site Visit | 26
Slide 29: T3 footwall mineralisation opportunity
T3 footwall mineralisation opportunity Improving orebody knowledge • MO-G-65D intersected 72.6m @ 1.5%Cu & 27g/t Ag from 250m downhole which includes 18m @ 2.7%Cu & 52g/t For personal use only • Mineralisation was classified as inferred therefore did not make reserve and subsequent pit optimisation
Slide 30: A4 Resource extension drilling program
A4 Resource extension drilling program FY24 to FY25 drilling program FY24 Program Status For personal use only Completed Down Dip extension drillhole Completed Resource conversion drillhole • Twenty nine of 74 planned holes completed Completed Up Dip extension drillhole • Mineralisation intersected
Slide 31: Motheo mine orbit exploration
Motheo mine orbit exploration For personal use only A1- Maiden Inferred Resource6 5.6Mt @ 1.3% Cu, 10g/t Ag A4 – Drilling to test dip and strike extensions underway Drilling program to test high priority targets within ~70km of our T3 – Drilling to processing facility test footwall extension target
Slide 32: Motheo regional exploration
Motheo regional exploration Gaining key insights from our belt-scale tenure For personal use only • We’ve established a holistic ‘Minerals Systems’ approach and a broader understanding of the basin architecture • Greater orebody knowledge (with the discovery of T3, A4 & A1), a growing understanding
Slide 33: Group guidance
Group guidance FY24 Guidance (Previous guidance where Corporate revised) MATSA Motheo & Other Group(b) Production Ore processed (Mt) 4.5 4.1 8.6 For personal use only Copper (kt contained) 58 39 97 Zinc (kt contained) 88 - 88 Lead (kt contained) 10 - 10 Silver (Moz contained) 2.6 1.2 3.8 Copper Equi
Slide 34: Thank you
For personal use only Thank you