CARRAPATEENA PRE-FEASIBILITY STUDY 3 SEPTEMBER 2014 “…there are very few projects like Carrapateena which offer the potential of multi-decade production at low operating costs, with the demonstrated potential for further discoveries nearby, located relatively close to all necessary infrastructure and in one of the best and safest mining jurisdictions in the world. We believe these features will be highly attractive to potential partners to join with OZ Minerals in advancing the development of the Carrapateena Project .” Terry Burgess, Managing Director and CEO, OZ Minerals.
DISCLAIMER This document has been prepared by OZ Minerals Limited (“OZ Minerals”) and consists of written materials/slides for a presentation concerning OZ Minerals. By viewing/attending this presentation, you agree to be bound by the conditions set out below. No representation or warranty, express or implied, is made as to the accuracy or completeness of the information, contained in the presentation, or of the views, opinions and conclusions contained in this material. To the maximum extent permitted by law, OZ Minerals and its related bodies corporate and affiliates, and its and their respective directors, officers, employees, agents and advisers disclaim any liability (including, without limitation, any liability arising from fault or negligence) for any loss, liability or damage arising from any use of this material or its contents, including any error or omission therefrom, or otherwise arising in connection with it. Forward Looking Statements This document includes certain forward looking statements. Forward looking statements are often characterised by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “could” occur. All statements, other than statements of historical fact included in this document, are forward looking statements. Such statements and information in this document include, but are not limited to statements regarding mining parameters (including processing rates, and processing plant feed), concentrate production, estimates of capital costs and operating costs, internal rates of return, net present values, availability and development of infrastructure, life of mine estimates, annual mining and production estimates and targets, and revenue related assumptions such as commodity prices and exchange rates. These statements represent current expectations and internal projections of the Company and are based on information currently available to it. There can be no assurance that these statements will prove to be accurate and actual results and future events could differ materially from those anticipated in the forward looking statements due to a number of factors, including levels of demand for commodities and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors and activities by governmental authorities, such as changes in taxation or regulation. Given these risks and uncertainties, undue reliance should not be placed on forward-looking statements which speak only as at the date of the presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, OZ Minerals does not undertake any obligation to publicly release any updates or revisions to any forward looking statements contained in this document, whether as a result of any change in OZ Minerals’ expectations in relation to them, or any change in events, conditions or circumstances on which any su ch statement is based. Certain statistical and other information included in this document is sourced from publicly available third party sources and has not been independently verified. All figures are expressed in Australian dollars unless otherwise stated. OZ Minerals | 2
RESERVE AND RESOURCE COMPLIANCE STATEMENTS Carrapateena Mineral Resource estimate The information set out in the table on page 10 that relates to Carrapateena Mineral Resource estimates as at 30 June 2013 is extracted from the report entitled “Annual Carrapateena Mineral Resource Update and Mineral Resource Explanatory Notes as at 30 June 2013” which was released to the market on 28 November 2013 and is available to view on at www.ozminerals.com/operations/resources--reserves.html. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.. Carrapateena Ore Reserve estimate The information set out in this table on page 10 that relates to Carrapateena Ore Reserve as at 15 August 2014 is extracted from the report entitled “Carrapateena Ore Reserves Explanatory Notes as at 15 August 2014” which was released to the market on 18 August 2014 and is available to view on www.ozminerals.com/operations/resources--reserves.html. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Ore Reserves , that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. Khamsin Mineral Resource estimate The information in this presentation that relates to the Khamsin Mineral Resource as at 23 March 2014 (on page 25) is extracted from the report entitled “Initial 202 million tonnes at 0.6 percent Copper Resource for Khamsin and Khamsin Mineral Resources Statement as at 23 March 2014” which was released to the market on 26 May 2014 and is available to view on www.ozminerals.com/operations/resources--reserves.html. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the original market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market ann ouncement. Fremantle Doctor Exploration Results The information in this presentation that relates to Fremantle Doctor Exploration Results (on page 26) is extracted from the report entitled “Quarterly Report for the three months ended 30 June 2014” which was released to the market on 15 July 2014 and is available to view on http://www.ozminerals.com/investor-information/reports/quartely-reports.html. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. Please refer to the original market announcement for JORC 2012 Table 1 Information. OZ Minerals | 3
PROJECT HIGHLIGHTS LOW OPERATING COSTS, LONG LIFE, WELL LOCATED Financial features 1 Projected net cash flow of $8.508 billion (including capital expenditure). • Net present value of $1.146 billion post tax (at 8 percent real discount rate). • Internal rate of return of 13 percent. • Low C1 unit costs averaging US$0.49 cents per payable pound of copper. • Technical features Block caving technically feasible. • Production of a high quality copper-gold concentrate with uranium below typical penalty • levels and no arsenic. Average annual production rate of 114,000 tonnes of copper, 117,000 ounces of gold • (at assumed steady state). Long mine-life of 24 years based only on Reserves. • Project features Low risk jurisdiction for mining. • Good access to power, water, road, rail and ports. • Climate and terrain suitable for mining. • Supportive stakeholders and community. • Approved Retention Lease in place for development of an exploration decline. • 1 All figures in Australian dollars unless otherwise stated. OZ Minerals | 4
PROJECT LOCATION FAVOURABLE TERRAIN AND CLIMATE FOR MINING Flat terrain. • Low elevation. • Low rainfall. • Located outside the Woomera Prohibited • Area. 130 kilometres north of Port Augusta. • 100 kilometres south-east of • Olympic Dam. 425 kilometres north-west of Adelaide. • 250 kilometres south-east of • Prominent Hill. OZ Minerals | 5
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