Gold Fields Australia Site Visit: St Ives Gold Mine GRAEME OVENS GRAEME OVENS General Manager 15 th July 2014
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 particular, the forward looking statements in this document include among others those relating to the Damang Exploration Target Statement; the Far p g g g g p g Southeast Exploration Target Statement; commodity prices; demand for gold and other metals and minerals; interest rate expectations; exploration and production costs; levels of expected production; Gold Fields’ growth pipeline; levels and expected benefits of current and planned capital expenditures; future reserve, resource and other mineralisation levels; and the extent of cost efficiencies and savings to be achieved. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa Ghana Australia Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly taxation and environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; the availability and cost of raw and finished materials; the cost of energy and water; inflation and other macro-economic factors, industrial action, temporary stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS and other occupational health risks experienced by Gold Fields’ employees. These forward looking statements speak only as of the date of this document. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 2
St Ives Gold Mine Location 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
St Ives Gold Mine Location 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 • The Kambalda Domain is bounded by the Boulder y Lefroy Fault and Zuleika Shear Australia’s Most Prolific Gold District Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 4
St Ives Gold Mine A Brief History 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 Lefroy Mill commissioned f • 2006/2007: Athena and Hamlet discovered • 2005: Neptune discovered 2005 N t di d • 2012: Invincible discovered An Iconic Western Australia Mining Camp Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 5
St Ives Gold Mine Historical Production 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 St Ives Mined Ounces Source History 700 14 Millions NED (Moz) WMC 5.1 Moz Gold Fields 6.9 Moz 600 12 Koz MINED OUNCES TAL OUNCES MI 500 10 400 8 300 6 ANNUAL M UMULATIVE TOT 200 4 100 2 CU 0 0 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 YEARS Underground Oz Mined Underground Oz Mined Open Pit Oz Mined Open Pit Oz Mined Cumulative Oz Mined Cumulative Oz Mined Outstanding and Reliable Resource To Reserve Conversion History Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 6
St Ives Gold Mine Continued Capital Investment since Gold Fields took Ownership Continued Capital Investment since Gold Fields took Ownership Major Capital Investments Discovery and Development of New Mines ● Lefroy Mill (US$125m) ● Underground ̵ Athena (Discovery cost of US$61/oz) ● Morgan Stanley Royalty (US$308m) ̵ Hamlet (Discovery cost US$64/oz) ● OP Owner Mining Fleet (80m) ̵ Cave Rocks (Discovery cost US$66/oz) ( y $ ) ● Support Infrastructure (US$21m) ● Support Infrastructure (US$21m) ● Open Pits Exploration ̵ Leviathan ● Invincible ̵ Numerous Small Pits Numerous Small Pits ● Speedway Trend S d T d ● 2014 spend US$25 million Well Capitalised Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 7
̵ St Ives Gold Mine Morgan Stanley Royalty Morgan Stanley Royalty ● Royalty Structure Cummulative Royalty Saved ̵ 10% of gold price above A$600/oz g p 350 4% NSR Royalty from 3.3 million ounces of 300 production ● Bought back for A$308 million in August 2009 ● 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 H1 H2 H1 H2 H1 2009 2010 2010 2011 2011 2012 2012 2013 2013 2014 Average Royalty Saved A$142/oz Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 8
St Ives Gold Mine Replacement Of Reserves Replacement Of Reserves St Ives Reserves and Production M Ozs 7 6 5 4 3 2 1 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Reserves Reserves Production Production Cumm Production Cumm Production Typical Regenerative Orogenic Geology Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 9
St Ives Gold Mine Senior Management Team 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 Gendreau – PA to GM , Trevor McIlwaine – Manager UG Mining , Gary Cormack – Manager Processing , Matt O’Hara – Manager Operations , Malcolm Jo lly – Manager MRM , David Cornes – Manager Finance An Experienced and Mature Management Team Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 10
St Ives Gold Mine Senior Management Team 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 - 35 years in the Eastern Goldfields region and NSW. p y g Matthew O’Hara – Manager: Operations ● Bachelor of Engineering (Mining) ● Bachelor of Engineering (Mining) ● WA 1 st Class Mine Managers Certificate of Competency ● Experience: 24 years in mining industry Malcolm Jolly – Manager: Mineral Resources ● Broad based mine geology and exploration technical background g gy p g inclusive of mine planning, geotechnical, metallurgy, strategy and mine economics ● MSc. Geology, Wits EDP, MAusIMM gy ● Experience : 33 years in mining industry Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 11
St Ives Gold Mine Key Management Team: 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 Management. MMMA ● Broad based metallurgical technical background g g ● Experience: 25 years in various metallurgical positions ranging from operations to management Gold Fields Australia Site Visit: St Ives Gold Mine | Graeme Ovens | 15 July 2014 12
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