Kalgoorlie, WA - August Colin Moorhead

Transcription

1 Diggers and Dealers Kalgoorlie, WA - August 2011 Colin Moorhead Executive General Manager Minerals

2 Disclaimer Forward Looking Statements These materials include forward looking statements. Forward looking statements inherently involve subjective judgement and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside of the control of, and may be unknown to, the company. Actual results and developments may vary materially from those expressed in these materials. The types of uncertainties which are relevant to the company may include, but are not limited to, commodity prices, political uncertainty, changes to the regulatory framework which applies to the business of the company and general economic conditions. Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, the company does not in providing this information undertake any obligation to publicly update or revise any of the forward looking statements or any change in events, conditions or circumstances on which any such statement is based. Ore Reserves and Mineral Resources Reporting Requirements As an Australian company with securities listed on the Australian Securities Exchange ( ASX ), Newcrest is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act and the ASX. Investors should note that it is a requirement of the ASX listing rules that the reporting of Ore Reserves and Mineral Resources in Australia comply with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code ) and that Newcrest s Ore Reserve and Mineral Resource estimates comply with the JORC Code. Competent Persons Statement The information in this presentation that relates to Exploration Results is based on information compiled by Colin Moorhead, EGM Minerals for Newcrest Mining Limited who is a Fellow of The Australasian Institute of Mining and Metallurgy, and a full-time employee of Newcrest Mining Limited. Mr Moorhead has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the JORC Code. Mr Moorhead consents to the inclusion in this presentation of the matters based on this information in the form and context in which they appear. Exploration Target The potential quantity and grade related to Exploration Targets in this report is conceptual in nature as there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource. 2

3 Newcrest 3 rd largest global gold producer by market capitalisation 12 th largest ASX listed company (~US$30 Billion) Produced 2.7Moz in FY11 Proven ability to find, build and operate world class gold mines Multiple growth options 3

4 Asset Portfolio Gosowong Producing g Asset Lihir Wafi Golpu Wafi-Golpu Advanced Project Hidden Valley Namosi Telfer Mali Cracow Mt Rawdon Bukina Fasco CÔTE D IVOIRE Bonikro Cadia Valley Yamoussoukro Abidjan 100 km 4 10 operating mines in 4 countries

5 Growth Pipeline Hidden Valley Mine Ridgeway Block Cave Gosowong Expansion Lihir MOPU Expansion Cadia East Mine Hidden Valley Expansion Bonikro Mine O Callaghans Wafi - Golpu Namosi Concept & Prefeasibility Feasibility Execution Operation Two major projects, two major studies 5

6 6 Projects

7 Lihir MOPU Project MOPU Million Ounce Plant Upgrade Brownfields expansion on Lihir Island Increase plant capacity to 12 million tonnes pa. Increase gold output by k ounces pa. Capital approximately $1.3B Progress 47% complete 3.5 million man hours expended to date on site Schedule completion December

8 Cadia East Project Update Capex A$1.9 Billion (84% committed) Increase production by 200koz p.a Engineering design essentially complete All major contracts awarded Ball Mill commissioned to schedule Decline conveyor installation commenced 8

9 Cadia East Mine Development Will be largest underground mine in Australia 26Mtpa Mine development 50% complete Cave preconditioning commenced hydro-fracturing blasting Conveyor decline broken through h On track for production ramp-up CY2012 9

10 10 Exploration

11 Exploration Activity 41 Drill Rigs in Operation Gosowong 11 Tandai 1 Manus Island 5 W fi G l Wafi-Golpu 5 3 Telfer 4 Mali Hidden Valley Namosi 3 Cracow 2 Bukina Fasco Lihir 1 Mt Rawdon CÔTE D IVOIRE Bonikro 2 Marsden 4 Cadia Valley Yamoussoukro Abidjan 100 km 3 11 Drill Rigs in Operation Mining Operation Exploration Advanced Project Emerging Project Mt Kasi

12 Côte d Ivoire, Bonikro Exploration Mali Burkina Faso In-ground exploration recommenced at Bonikro Guinea 2011 BONIKRO RESOURCE (1) 1.2g/t Au 2.0Moz Au Côte d Ivoire Mankano Bouafle Oume (2) 0.2Moz Au Yamoussoukro Timbe / Bouake Liberia Hire (2) 0.9Moz Au Côte Bonikro Ghana Large Gold system >3Moz discovered to date (1&2) within 20kms of process plant 17,000 square kilometres of highly prospective Greenstone Belt with established targets Abidjan d Ivoire Regional work scheduled for start-up Qtr 1. AFRICA 100 km 12 (1) Newcrest website, Bonikro Resource update, 25 January, Resource figures quoted on 100% basis. (2) Newcrest website, LGL market release LGL Resources, 26 August, 2009.

13 Indonesia, Gosowong Exploration PLAN VIEW Surface work in progress Contract of Work - ~30, hectares of prospective ground Sesewet TOGURACI (1) 1.2 Moz Au West & South Toguraci Batu Api & Matat Highly prospective exploration target >5Moz Gold discovered to date Strong results at Toguraci GOSOWONG (1) 1.0 Moz Au Toguraci KENCANA (1) 3.5 Moz Au Halmahera Is. Good targets identified regionally Contract of Work Boundary 0 2 kilometres 4 13 (1) Includes past production and current Resources. Refer to Newcrest Annual Statement of Mineral Resources & Ore Reserves to June 30, Resource figures quoted on 100% basis.

14 WA, Telfer Brownfields Exploration SCHEMATIC OBLIQUE LONG SECTION (looking south west) Telfer Deeps 2.7Moz Au Main Dome 10Moz Au VSC 0.9Moz Au Main Dome Decline MUC g/t Au & 0.59% Cu MUC g/t Au & 1.0% Cu WRC g/t Au & 0.39% Cu VSC Exploration Target WRC g/t Au & 1.2% Cu West Dome 5Moz Au West Dome Decline Design West Dome Exploration Target (1) Newcrest Annual Statement of Mineral Resources & Ore Reserves to June 30, km 5200 mrl 3200 mrl Drilling south of West Dome demonstrates continuity in reefs Deeper drilling in progress to test West Dome Deeps Continuity of Vertical Stockwork Corridor currently demonstrated 300m to the north Potential to grow existing resources 14

15 PNG, Lihir Resource Growth PLAN VIEW 2010 LIHIR RESOURCE (1) 2.35g/t Au 48.5Moz Au 2010 LIHIR RESERVE (2) 2.71g/t Au 28.8Moz Au Inferred Resource boundary Kapit Kapit NE Pacific Coastal Link Exploration Target Lienetz Borefields Minifie DDHL g/t Au DDHL g/t Au DDHL g/t Au DDHL g/t Au DDHL g/t Au LIHIR PLANT Mineralisation in drilling extends 500m east of the existing resource and remains open Early indication that further extension at Kapit NE likely Resource and Reserve update August m 15 (1) Newcrest website, market release LGL Resources, 26 August, (2) Newcrest website, market release LGL Reserves, 29 October, 2009.

16 Fiji, Namosi 2 nd Porphyry System at Waivaka PLAN VIEW Wainabama Waisoi PORPHYRY SYSTEM 2010 WAISOI RESOURCE (1) 0.37% Cu & 0.12 g/t Au 6.6 Mt Cu 6.7 Moz Au Well mineralised porphyry trend 6km from Waisoi i project area Strong copper and gold geochemistry at surface identified over 5km strike to date Waivaka West NVD g/t Au u&0 0.45% Cu Incl. 0.82g/t Au & 0.82% Cu 5 km Navua Pacific Harbour 2010 WAINAULO RESOURCE (1) 0.72% Cu & 0.12g/t Au 670Kt Cu & 350Koz Au Viti Levu SPL1420 FIJI Higher grade mineralisation seen in drill hole NVD035 includes 0.82g/t Au & 0.82% Cu Exploration drilling demonstrates potential ti for larger higher h grade system at depth Copper/gold target area 50 km Suva 16 (1) Newcrest Annual Statement of Mineral Resources & Ore Reserves to June 30, Resource figures quoted on 100% basis.

17 PNG, Wafi Transfer Zone PLAN VIEW Zimake 17km of highly prospective ground Bavaga Largely unexplored Zenapu Nambonga Miapilli Wafi Golpu Hekeng Kesiago Pekumbe WAFI-GOLPU EXPLORATION TARGET (1) + 40Moz Au and 15Mt Cu Regional projects advanced at Bavaga, Zenapu, Zimake and Mt Tonn Mt Tonn 4 km 17 (1) Refer note on slide 2 & 21 in relation to Exploration Targets.

18 PNG, Wafi-Golpu Project 1 Billion Tonnes & Growing SCHEMATIC PLAN VIEW WR g/t Au GROWTH (2) OPEN Moz Gold Mt Copper Golpu Porphyry copper and gold doubles in size WR g/t Au Nambonga (1) 1.0Moz Au (unchanged) New Gold Zone Diatreme Golpu 2010 Golpu Resource 21,000mN WR392W1 1.39% Cu, 0.94g/t Au New Wafi style zone intersected west of Golpu System remains open for further growth Wafi (1) 6.2Moz Au (unchanged) 20,000mN 500 m 20,000mE 18 (1) Newcrest Annual Statement of Mineral Resources & Ore Reserves to June 30, Resource figures quoted on 100% basis. (2) Newcrest Mining Limited website for competent persons statement. Resource figures quoted on 100% basis.

19 PNG, Wafi-Golpu Project Substantial Increase in Golpu Resource SCHEMATIC LONG SECTION (looking south west) Grade Contained Metal (3) M tonnes Au g/t Cu % Au Moz Cu Mt 1,700m 500Mt 8.8Moz Au, 4.8Mt Cu 0.2% Cu Shell Golpu Resource 2010 (1) (2) Growth Wafi-Golpu Resource (includes Wafi and Nambonga) 2010 (1) (2) 1, Mt 19.3Moz Au, 9.0Mt Cu Growth m 19 (1) Newcrest Annual Statement of Mineral Resources & Ore Reserves to June 30, Resource figures quoted on 100% basis. (2) Newcrest Mining Limited website for competent persons statement. Resource figures quoted on 100% basis. (3) Reported numbers have been rounded which may cause apparent computational discrepancies.

20 Porphyry Copper- Gold Deposits SE Asia Selected SE Asia Porphryry Copper-Gold Deposits (bubble size equals total Au-equivalent ounces) Oyu Tolgoi 214 Moz North Parkes 11 Moz Grasberg 478 Moz Wafi-Golpu Exploration Target (3) 132 Moz Wafi-Golpu 82 Moz Far South East 30 Moz Cu (wt %) Tampakan Frieda River 101 Moz 62 Moz Reko Diq 189 Moz Batu Hijau Namosi 56 Moz 52 Moz Panguna 52 Moz Cadia 90 Moz Ok Tedi 43 Moz Ridgeway 12 Moz Didipio 4 Moz Au (g/t) 20 (1) Sourced from MEG Database and company reports. (2) Gold equivalent based on USD 900/oz Au, USD 2.50/lb Cu at 100% recovery for both metals. (3) Exploration Target for Wafi-Golpu is 40Mt gold and 15Mt copper refer slides 2 & 21

21 Exploration Target for Wafi-Golpu The Wafi-Golpu project is located in the Morobe Province of PNG on EL440 approximately 60km southwest of the town of Lae. Wafi-Golpu is a major exploration project that forms part of the Morobe Mining Joint Ventures (MMJV) which is a 50/50 joint venture between Newcrest and Harmony. In July 2011, an updated resource estimate for Wafi-Golpu was reported containing Measured, Indicated and Inferred Mineral Resources for Wafi Golpu totalling approximately 1010 million tonnes containing 26.6 million ounces of gold and 9.0 million tonnes of copper (1). This comprises an extensive body of gold only epithermal style mineralisation (Wafi) located near surface and deeper porphyry related copper+gold mineralisation (Golpu and Nambonga). The Wafi epithermal mineralisation includes oxide, transitional and sulphide ore types with individual ore zones reported at relatively high cut-off grades. Studies show that the resource is quite sensitive to these cut-offs with only minor improvements in margin required to increase the inventory substantially. Exploration also demonstrates that these mineralised zones are spatially related to a central diatreme and that the mineralised zones remain open at depth. In October 2010, an Exploration Target for the Wafi-Golpu project area in excess of 30 million ounces of gold and 8 million tonnes of copper based on a tonnage range between 900 and 1400 million tonnes was reported. This targeted growth of epithermal deposits to between 100 and 200 million tonnes at a grade range between 1.5 and 2.0 grams per tonne plus porphyry deposits to a range of 800 and 1200 million tonnes at grades between 0.7 and 11% 1.1% copper and d05t 0.5 to g/t gold. Recent work conducted by the MMJV has included a significant amount of additional drilling at Wafi-Golpu, ongoing regional exploration, and detailed concept studies on deposit knowledge and possible development scenarios. Results from work, including but not limited to very strong ggold and copper results from deep drilling at Golpu, demonstrate that the previously announced exploration target for Wafi-Golpu has been achieved and in March 2011 supported revision of the Exploration Target for the Wafi-Golpu project area to in excess of 40 million ounces of gold and 15 million tonnes of copper based on a tonnage range between 1200 and 1700 million tonnes. This targets growth of epithermal deposits to between 100 and 200 million tonnes at a grade range between 1.5 and 2.0 grams per tonne plus porphyry deposits to a range of 1100 and 1500 million tonnes at grades between 0.8 and 1.5% copper and 0.6 to 1.0g/t gold ii. Deep drilling undertaken and reported in recent quarters continues to demonstrate that the Golpu porphyry deposit may be significantly larger than the reported resource. Results show strongly mineralised porphyry at depth and to the north with grades persisting well into metasediment wall-rocks. Several other porphyry style targets in earlier stages of exploration with encouraging preliminary data also exist in the project area. 1 Refer 2010 Newcrest Annual Statement of Mineral Resources and Ore Reserves located at The potential quantity and grade of this Exploration Target is conceptual in nature and is expressed in 100% equity terms. At this point there has been insufficient i exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination i of a Mineral Resource 21

22 Divestment of Mt Rawdon & Cracow Proposed sale of assets to a company to be formed through the merger of fcatalpa and dconquest Strong platform to establish an Australian mid-tier gold producer good management solid asset base growth opportunities robust balance sheet Newcrest commitment to success ~33% ownership post capital raising & 2 Board seats Expected transaction completion October

23 Summary Strong balance sheet low gearing, unhedged cashflow Solid production in FY11 with some cost pressure Major project deliveries on track Exploration results continue to be very strong Significant resource upgrade to Wafi-Golpu Multiple growth opportunities 23