Compañía Minera MaricungaMine Reopening ProjectMine Reopening Project • Electric Power Line...
Transcript of Compañía Minera MaricungaMine Reopening ProjectMine Reopening Project • Electric Power Line...
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Kinross Gold CorporationKinross Gold CorporationJanuary 10, 2006January 10, 2006
Compañía MineraMaricunga
Compañía MineraMaricunga
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UbicaciónUbicación
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• Up to-date we have 134 days, 822,000 accumulated hours, without lost time accidents.
• Safety training program is being completed with Corporate personnel
• Status and future training plan was reviewed with NOSA personnel.
• Mine Rescue training is in progress with “Bomberos de Chile”.
• Personnel training courses are progressing well; fire control, lock out, crusher operations
Safety UpdateSafety Update
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Mine Reopening ProjectMine Reopening Project
• Electric Power Line US$20,500K
• Primary Screen US$9,000K
• Conveyors US$10,000K
• Operating Costs US$26,500K
• ADR Plant upgrade US$2,300K
• EPCM US$6,500K
• Indirect and Others US$6,100K
• Total US$134,000K
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Production Update
• Commissioning started at the end of June, 2005
• Commercial Production started on October 1st, 2005
• 40,000 TPD were reached during November and December 2005
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Operations Forecast (1)Operations Forecast (1)
2006f
Tonnes Crushed (millions tonnes) 14Au Grade (grams/tonne) 0.94Au Recovery 59%
Total Au Production '000 240-250
Mining Cost/tonne $0.96Milling Cost/Tonne $2.25
Capex (millions) $10-12
(1) Estimates and Forecasts from Kinross Corporate Life of Mine model
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Pancho Project Proposal, BackgroundPancho Project Proposal, Background
• On December 2004 and January 2005 a condemnation drill hole program was performed and the results gave good indications that the ore body could be expanded.
• The 2003 drill program did not provide complete information on the metallurgical and geoemechanical parameters.
• When a $500 cone was floated on the ore body, it demonstrated that many areas are limited due to lack of information
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• Selective check holes to confirm model (manto vs vein?). • Exploration:
• NE Pancho target, follow up Yr 2004 hit• S. Verde (below waste dump) target, follow up Yr 2004
mineralization, (surface laminated veinlets look good) (this is near the Bema property boundary)
• Geotechnical drilling to confirm wall stability• Met. sample drilling with hydro cell testing to prove up
recoveries
2006 Pancho Progam2006 Pancho Progam
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DumpDumpDumpDumpDumpDumpDumpDumpDump
Verde PitVerde PitVerde PitVerde PitVerde PitVerde PitVerde PitVerde PitVerde Pit
Pancho PitPancho PitPancho PitPancho PitPancho PitPancho PitPancho PitPancho PitPancho Pit
Area Guanaco Area Guanaco Area Guanaco Area Guanaco Area Guanaco Area Guanaco Area Guanaco Area Guanaco Area Guanaco
New areaNew areaNew areaNew areaNew areaNew areaNew areaNew areaNew areaLeach PadLeach PadLeach PadLeach PadLeach PadLeach PadLeach PadLeach PadLeach Pad
∗
∃
6.950.500 N6.950.500 N6.950.500 N6.950.500 N6.950.500 N6.950.500 N6.950.500 N6.950.500 N6.950.500 N
468.
000
E46
8.00
0 E
468.
000
E46
8.00
0 E
468.
000
E46
8.00
0 E
468.
000
E46
8.00
0 E
468.
000
E
474.
000
E47
4.00
0 E
474.
000
E47
4.00
0 E
474.
000
E47
4.00
0 E
474.
000
E47
4.00
0 E
474.
000
E
6.955.000 N6.955.000 N6.955.000 N6.955.000 N6.955.000 N6.955.000 N6.955.000 N6.955.000 N6.955.000 N
kilometers10.50
REF04-6
REF04-7
REF04-9
REF04-8
REF04-8A
REF04-5
REF04-4
REF04-1
REF04-2
REF04-3
COMMDENATION DRILL HOLES REALIZED 2005
DumpDumpDumpDumpDumpDumpDumpDumpDump
Verde PitVerde PitVerde PitVerde PitVerde PitVerde PitVerde PitVerde PitVerde Pit
Pancho PitPancho PitPancho PitPancho PitPancho PitPancho PitPancho PitPancho PitPancho Pit
Area Guanaco Area Guanaco Area Guanaco Area Guanaco Area Guanaco Area Guanaco Area Guanaco Area Guanaco Area Guanaco
New areaNew areaNew areaNew areaNew areaNew areaNew areaNew areaNew areaLeach PadLeach PadLeach PadLeach PadLeach PadLeach PadLeach PadLeach PadLeach Pad
∗
∃
6.950.500 N6.950.500 N6.950.500 N6.950.500 N6.950.500 N6.950.500 N6.950.500 N6.950.500 N6.950.500 N
468.
000
E46
8.00
0 E
468.
000
E46
8.00
0 E
468.
000
E46
8.00
0 E
468.
000
E46
8.00
0 E
468.
000
E
474.
000
E47
4.00
0 E
474.
000
E47
4.00
0 E
474.
000
E47
4.00
0 E
474.
000
E47
4.00
0 E
474.
000
E
6.955.000 N6.955.000 N6.955.000 N6.955.000 N6.955.000 N6.955.000 N6.955.000 N6.955.000 N6.955.000 N
kilometers10.50
REF04-6
REF04-7
REF04-9
REF04-8
REF04-8A
REF04-5
REF04-4
REF04-1
REF04-2
REF04-3
COMMDENATION DRILL HOLES REALIZED 2005
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Refugio - LocationRefugio - Location
CMM Claims
Buffer Zone
Leach Pad
Process Plant
Verde West and East Mines
Pancho Deposit
Guanaco
Verde Volcanic andIntrusive Complex
Laguna Tuff
Refugio Volcanics(undivided)
MesozoicRocks
PanchoDiorite &Volcanics
1.02/1162
7
Guanaco TargetWest Field ReconnaissanceGrade (g/t Au) / Core Length (metres)
27
1.02/116
0 1 2kilometres
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PANCHO DEPOSIT PANCHO DEPOSIT ((ViewView toto NE NE usingusingwidthwidth eithereither sideside
equalequal toto 50 50 metersmeters))
PLAN VIEW
U$400 pitU$500 pit
Grade shell with gold > 0.9 g/t
Grade shell with gold > 1.5 g/t
Drill Holes
Missing drill holes zones
PANCHO DEPOSIT PANCHO DEPOSIT ((ViewView toto NE NE usingusingwidthwidth eithereither sideside
equalequal toto 50 50 metersmeters))
PLAN VIEW
U$400 pitU$500 pit
Grade shell with gold > 0.9 g/t
Grade shell with gold > 1.5 g/t
Drill Holes
Missing drill holes zones
U$350
Footprint
Diameterincrease
Grade shells only for displaying better grades inside the various pits, they are not cut off grades.
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Section 6953900 N
Pit U$350
Pit U$500
Grade Shell with gold > 1.5 g/tGrade Shell with gold > 0.9 g/t
Missing drill holes zones
Pancho DepositPancho Deposit
Grade shells only for displaying better grades inside the various pits, they are not cut off grades.
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Grade Shell with gold > 0.9 g/tGrade Shell with gold > 1.5 g/t
Pit U$350
Pit U$500
Drill Holes
Section 469500 E
Grade shells only for displaying better grades inside the various pits, they are not cut off grades.
Pancho DepositPancho Deposit
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Pancho Pit U$350 Pancho Pit U$500Zone Class Kton G/T Oz Zone Class Kton G/T OzPancho - Oxide (0.33) Measured 19,744 0.75 476,821 Pancho - Oxide (0.33) Measured 22,492 0.73 527,894
Indicated 7,563 0.60 145,901 Indicated 13,540 0.57 248,140
Measured and indicated 27,338 0.71 622,722 Measured and indicated 36,033 0.67 776,034 Pancho - Mixed (0.36) Measured 17,828 0.82 470,019 Pancho - Mixed (0.36) Measured 22,375 0.79 568,295
Indicated 3,199 0.70 71,988 Indicated 8,164 0.64 167,990
Measured and indicated 21,027 0.80 542,006 Measured and indicated 30,539 0.75 736,285 Pancho - Sulphide (0.38) Measured 18,131 0.82 477,996 Pancho - Sulphide (0.38) Measured 49,388 0.72 1,143,257
Indicated 6,357 0.76 155,339 Indicated 53,360 0.65 1,115,122
Measured and indicated 24,488 0.80 633,336 Measured and indicated 102,748 0.68 2,258,379 Subtotal Measured 55,734 0.80 1,424,836 Subtotal Measured 94,255 0.74 2,239,446
Indicated 17,119 0.68 373,228 Indicated 75,065 0.63 1,531,253
Measured and indicated 72,853 0.77 1,798,064 Measured and indicated 169,320 0.69 3,770,698
Pancho – Increase of ResourcesPancho – Increase of Resources
Please note, these tables contain resources only, they are not reserves. The original slide given in the presentation was incorrectly labeledas proven and probable reserves (attached in the addendum).
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Kinross Gold Corporation40 King Street West, 52nd Floor
Scotia PlazaToronto, ON M5H 3Y2
416-365-5123416-363-6622866-561-3636
KGC: NYSE (Common shares)K: TSX (Common shares)K.U: TSX (US dollar trading symbol)K.WT: TSX (Warrants expiring 05/12/07)
21
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January 2006
MDO OVERVIEW
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January 2006
Manpower by Areas – Dec. 2005
Within the 440 workers there are 10 temporary workersAverage Age: 43 years – Average Seniority: 9.5 years
La Coipa, General Information
Work Areas Supervisors Staff Employees Total
Management 12 5 17
Human Resources 7 3 10
Adm. and Finance 18 2 20
Mine 31 12 148 191
Plant 30 10 162 202
Total 98 32 310 440
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January 2006
Location of Main Orebodies
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January 2006
Mine Layout • Operating Parámeters• Mining method : Openpit• Slope angle : 43° -50 • Bench height : 10 meter• Ramp width : 24 meter• Ramp slope : 10 %
LADERA FARELLON
FARELLON BAJO
COIPA NORTE
BRECHA NORTE
Can Can
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January 2006
Flow Sheet. La Coipa Plant
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January 2006
TAILING DISPOSAL
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January 2006
Metal ProductionGold Equivalent Ounces
233
159
282
127
242
179
210
154
102
349
81
385
152
197
117
195
192
107
199
110
167
135
168
83
100
200
300
400
500
600
Au
Eq
. O
z (0
00
's)
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
Au Oz Ag (Au Eq. Oz)
391 409421
364
451 466
350
298 309312302
252
233
159
282
127
242
179
210
154
102
349
81
385
152
197
117
195
192
107
199
110
167
135
168
83
100
200
300
400
500
600
Au
Eq
. O
z (0
00
's)
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
Au Oz Ag (Au Eq. Oz)
391 409421
364
451 466
350
298 309
391 409421
364
451 466
350
298 309312302
312302
252
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January 2006
Cash and Total Unit Cost
161
240
163
238
197
272
216
281
166
255
168
251
208
273
204
289
224
298
209
284
231
291
312
379
150
200
250
300
350
400
US$
/ A
u Eq
Oun
ce
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
Unit Cash Cost Unit Total Cost
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January 2006
Budget 2006Production Statistics
Tonnes Mined (000) 16.376 Tonnes Milled (000) * 5.799 Grade Au (g/t) 0,98 Grade Ag (g/t) 94,0 Recovery Au (%) 75,5 Recovery Ag (%) 69,0 Oz Au * 138.352 Oz Ag * 12.092.608 Oz Au Equivalent * 335.208 * 100% Production (Include Puren)
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January 2006
Budget 2006Cost Statistics
Property Cost (US$ 000) 72.622 Unit Cash Cost (US$/Oz) 288,45Unit Total Cost (US$/Oz) 365,22
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January 2006
MDO Reserves-Resources 12/2004
RESERVES Tn MINERALOz.Au.Eq.
ORIGINAL RESERVES 3.72 65.58
MILLED MINERAL 4.18 61.7
REMAIN RESERVES 1.94 26.5
TOTAL RESERVES 6.12 88.2RESOURCES 3.25 54.71
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January 2006
• Opportunities for improving and extending MDO’sbusiness is based on four pillars of the strategic plan:
Focus on operational excellence.
Exploration in MDO mine properties
Develop business with neighbors
Proactive environmental management and stakeholder involvement
SBP 2005 - Strategic Frame
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January 2006
Potential ResourcesExisting Orebodies Koz. Au equiv.
– Ladera Farellón 65– Chimberos 20– Puren Phase II 220– Puren Phase III 100– Ladera Farellón Sulphides (Au/Ag) 1.500
Total (Au – Ag) 1.905Copper Potential Resources
– Ladera Farellón Suphides Kt 320 (705MLb)
MDO Growth Potential
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January 2006
DISTRICT EXPLORATION POTENTIAL
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January 2006
Mining Claims
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January 2006
Esperanza Map
TETERITA
Work doneGeological loggingSurface sampling: 145 Drilling 68 drill holes RC (8,888 m).
ResultadosSilver mineralization Silisified tuffs.
Geo-physics Exploration 4 CSAMT lines with 3,7 Km.
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January 2006
Teterita orebody
Please note: the information for Cuerpo Superior and Cuerpo Inferior is reversed.
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January 2006
La Coipa Au Sulfide Ore
• Initial exploration of The Coipa ended when sulfides were reached
• During y-1995-96 • 5 deep Drilling (1,922 m, up to 488 m depth).
• In y-1997-98• 7 new DDH (3,232 m, up to 550 m of depth)
• Today a full program has been defined
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January 2006
La Coipa Au Sulfide Ore
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January 2006
La Coipa Au Sulfide Ore
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January 2006
La Coipa Au Sulfide Ore
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January 2006
Budget is US$ 5.0 M for a 2.5 year program
Au Sulfide Ore Proposal
Geo-chemistry 20.000Geo- physics 400.000Drilling campaign 2.700.000Assays 270.000Measurement of deviations 200.000Metallurgical studies 260.000G & A 1.000.000Contingency 150.000
TOTAL 5.000.000
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January 2006
Exploration Budget y-2006
3,4504,0007,450
3,4501,5505,000Sulphides Ladera Farellon
750750Torito
150150Esmeralda
100100Carachapampa
1,1001,100Esperanza
350350G & A
Cost KUS$Cost KUS$Cost KUS$
20072006TOTALPROJECT
3,4504,0007,450
3,4501,5505,000Sulphides Ladera Farellon
750750Torito
150150Esmeralda
100100Carachapampa
1,1001,100Esperanza
350350G & A
Cost KUS$Cost KUS$Cost KUS$
20072006TOTALPROJECT
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January 2006
• MDO has an experienced team to operate in this working environment
• District has potential for new resource findings• Puren & Ladera-Farellon may add value to our
business for a number of years• MDO operating facility is a key asset to process
satellite deposits from neighbor concessions
Summary
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Kinross Gold CorporationKinross Gold CorporationJanuary 12, 2006January 12, 2006
Resources and Reserves Geology and Mine Planning Department
Rio Paracatu Mineração S/A
Resources and Reserves Geology and Mine Planning Department
Rio Paracatu Mineração S/A
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LocationLocation
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Regional geologyRegional geology
Town ofParacatu
$400 Scoping Pit Crest
ParacatuProperty
295,000E 300,000E
8,100,000N
0 1 2kilometres
road
8,105,000N
8,095,000N
Post mineralization faulting
Vazante Formation
Finely laminated carbonaceous pelites and quartzites
Paracatu Formation
Morro do Ouro Sequence
FazendaLavras Metasiltstones and quartzites
TailingsPond
TailingsDam
river
Geological Legend
Serra do Landim Sequence,
Foliated pelites 1%py, rare quartz boudins
Arkose and laminated metasiltstones
Serra da Anta Sequence
Serra da Lapa Sequence
Meta-arenites and argillaceous siltstonesRecifal Sequence
Reef dolomites
Thrust Fault
Carbonaceous pelites and arenites - foliated, quartz boudins,sulfides, and Au
Calcareous phyllites
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Local geologyLocal geology
C Horizon
T Horizon
High Strain Zone
B1 Horizon
B2 Horizon
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Local geologyLocal geology
KTS $400 Pit Limit
open west
Saprolite
Paracatu Formation
Trace Aspy 0.10 to 0.20 g/tB2 ( 0.2 to 0.4 g/t )B2 ( > 0.4 g/t )
600m Elev.
400m Elev. 0 100 200
metres
Surface800m Elev. 0.48g/t Au / 141m
K-605 K-405 K-205K-805 K105
WCR-1.54.5
Rico Creek
Sulfide leached
0.41g/t Au / 147m
0.58g/t Au / 70m
0.67g/t Au / 85m0.67g/t Au / 75m
0.52g/t Au / 127m
0.53g/t Au / 128m
0.71g/t Au / 88m
0.57g/t Au / 152m
0.55g/t Au /124m
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Local geologyLocal geology
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Local geologyLocal geology
B1
B2
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Data up 2004Data up 2004
• up to 2003• 1,029 holes (different kinds of geological research)• 30,000 m of data
• drilling campaign 2004• 63 holes• 2,539 m of mineralized zone
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• Total meters• 267 drill holes 48,660.27 m
• Total drilling on the mineralized zone• Approximately 30,000
• Total drilling on the waste• Approximately 18,600
Exploration 2005Exploration 2005
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Exploration 2005Exploration 2005
Geological samples
3,435 4,223 5,2367,762 8,190 8,898 9,575 10,320
13,402
16,90319,068 20,170
22,791 22,791
29,767 29,76732,297
46,248
62,297
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
1985 1986 1988 1990 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005(1) 2005(2)
Year
Num
ber
of s
ampl
es
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Exploration 2005Exploration 2005
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Expansion areaExpansion area
Highway
Rico Creek
Pond C
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Exploration 2005Exploration 2005K-410
0-8 m 35-43 m 111-117 m 242-250 m
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Exploration 2005Exploration 2005Inpit drilling
West Rico Creek
Rico Creek
West Rico Creek
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Exploration 2005Exploration 2005
Pads reclamation
Beside the highwayWest Rico Creek
24h shifts
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Geological interpretationGeological interpretation• Hard boundaries (weathering domains)
• B1• B2
• Gold / Deformation / Boudins / ASPY• High deformation and boudin• Presence of ASPY
• Waste domains (weathering degrees)• A soil• A saprolite• A oxide• A rock
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Reserves StatementReserves Statement
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Grade modelingGrade modeling
• Gold• Arsenic• Sulphur• Work Index• Density
8500 9000 9500 10000 10500 11000 11500
10000
10500
11000
11500
12000
0
0.3
0.4
0.45
0.5
0.55
0.9
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Ultimate pit designUltimate pit design
• Geotechnical criteria• Design criteria (bench height, ramps)
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Ultimate pit designUltimate pit design
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Geological modelGeological model
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Reserves StatementReserves StatementGrade x Tonnage curve (Ultimate Pit US$400/oz)
0
100
200
300
400
500
600
700
800
900
1,000
1,100
0.00 0.10 0.20 0.30 0.40 0.50 0.60 0.70 0.80 0.90 1.00 1.10
Cut off grade (g/t)
Tonn
age
(t 0
00,0
00)
0
0.2
0.4
0.6
0.8
1
1.2
1.4
Ave
rage
gra
de (g
/t)
946 Mt
0.44 g/t
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Reserves statementReserves statement
Classification Price tonnes Grade Gold(US$/oz) (x 1,000) (Au g/t) (ounces)
Proven 400$ 807,341 0.44 11,212,000 Probable 400$ 139,633 0.46 2,068,000 Proven & Probable 400$ 946,974 0.44 13,280,000
Measured 450$ 110,837 0.43 1,530,000 Indicated 450$ 11,069 0.41 147,000 Measured and Indicated 450$ 121,906 0.43 1,677,000
Inferred 450$ 122,981 0.43
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Reserves StatementReserves Statement
0.32 0.81 1.01 1.20 1.41 1.63 1.84 2.06 2.32 2.59 2.88 3.11 3.37 3.62 3.741.84 2.68 3.20
3.73 3.32 3.02 2.723.52 3.39 3.38 3.49 3.48
3.864.11
5.08 5.07
8.45
13.28
0.001.002.003.004.005.006.007.008.009.00
10.0011.0012.0013.0014.0015.0016.0017.0018.00
1985
1986
1988
1990
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005(1)
Years
Mill
ion
Onc
es o
f Gol
d
Cumulative Mined (M onces) Reserve Remaining (M onces)
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Further developmentsFurther developments
• Block model dimensions (50m x 50m x 12 m)• Fleet size and mining method
• Cable shovel 35 m3 bucket/ 240 st trucks• Open pit drilling and blast design
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Kinross Gold Corporation40 King Street West, 52nd Floor
Scotia PlazaToronto, ON M5H 3Y2
416-365-5123416-363-6622866-561-3636
KGC: NYSE (Common shares)K: TSX (Common shares)K.U: TSX (US dollar trading symbol)K.WT: TSX (Warrants expiring 05/12/07)
26
Thanks for your attention.
Thanks for your attention.
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RIO PARACATU MINERAÇÃO S.A.MORRO DO OURO
GOLD MINE
RIO PARACATU MINERARIO PARACATU MINERAÇÇÃO S.A.ÃO S.A.MORRO DO OUROMORRO DO OURO
GOLD MINEGOLD MINE
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LEGAL NOTICE
Certain statements set forth in this presentation constitute"forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties andother factors that may cause the actual results, performance or achievements to differ from those expressed or implied by such forward looking statements. Such risks and uncertainties are described in periodic filings made by Kinross Gold Corporation with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities.
All dollar amounts used throughout this presentation are expressed in US dollars, unless otherwise noted.
2
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SIMPLIFIED FLOWSHEET
Existing Plant 18 Mtpa
Water to Tailings Dam
Sulphide Tailingspond
Open Pit Mine18 Mtpa @ 0.44g/t
Blending Silos
Milling (JIGs in CL)
Flotation
Crushing Plant
Classification
Tailings Dam
HYD
RO
MET
ALL
UR
GY
Concentrate +/- 30,0 g/t
C.I.L.
Grinding
Dessorption
Electrowinning
200,000 oz Au/Year
Smelter
Cyanide Recovery
Cyanide
BEN
EFIC
IATI
ON
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MORRO DO OURO OPEN PIT MINE
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BENEFICIATION AND HYDROMETALLURGICAL PLANT
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TAILINGS DAM
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RESOURCES AND RESERVES as at October 31, 2005
Classification Price tonnes Grade Gold(US$/oz) (x 1,000) (Au g/t) (ounces)
Proven 400$ 807,341 0.44 11,212,000 Probable 400$ 139,633 0.46 2,068,000 Proven & Probable 400$ 946,974 0.44 13,280,000
Measured 450$ 110,837 0.43 1,530,000 Indicated 450$ 11,069 0.41 147,000 Measured and Indicated 450$ 121,906 0.43 1,677,000
Inferred 450$ 122,981 0.43
Resources reported exclusive of reserves
FEX 2.65 Brazilian R per US$
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ENVIRONMENT
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ENVIRONMENTAL POLICY
PolicyTo establish plans, programs and measures to eliminate or minimise such impact and to take proactive measures to protect the environment.
Instruments:
• Environmental Impact Evaluation• Environmental Control Plan
Monitoring• Internal Environmental Audit
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INDUSTRIAL SAFETY SYSTEMS
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RPM - Adopt the NOSA MBO SystemNOSA MBO System– Objectives : To Educate
To Train Management and workforceTo Motivate
– To Prevent Accidents and Occupational Diseases
Chapters– Premises and housekeeping– Mechanical, Electrical and Personal Safeguarding– Fire Prevention and Protection– Incident (accident) recording and investigation– Safety Organisation– Environment
DuPont auditing system
RPM Health and Safety Standards
INDUSTRIAL SAFETY SYSTEMS
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LOST TIME INJURY FREQUENCY RATE
6.09
2.59
0.81
0.33
0.34
0
0.22 0.
75
0.52
0.22 0.
21
0.43 0.62 0.54 0.
91
0.55
0.29
0.21
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
87 88 89 90 91 92 93 94 95 96 97 98 99 '00 '01 '02 '03 '04per 1,000,000 hours worked
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COMMUNITY RELATIONS
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COMMUNITY RELATIONS
Policy
RPM is committed to responsible participation in the affairs of the local community and maintains a good relationship with its neighbourhood, looking for mutual respect, active partnership and long term commitment.
• Actions / programmes• Permanent contacts with:
- City hall, city court, union, chamber of commerce,Religious institutions, environmental organisations, communities associations
• Press conferences• Visits and meetings with neighbours• Tree planting programme, seedlings donations • Visits - open doors programme• Community consultation programme – survey - meetings
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KEY COMMUNITY INVOLVEMENT
Income and Job Generation Programme
Economic and Social Development Agency
Further Education
My First Job
Partnership Seminar
Environmental Education
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PRODUCTION AND PRODUCTIVITY
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Budget and Forecast Assumptions
2006 2007 2008 LOM
Exchange Rate - Reais/$US 2.3 2.65 2.65 2.65
Oil Prices $US/bbl 60 60 45 45
FORECAST ASSUMPTIONS
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2005E 2006F 2007F 2008F
Tonnes Milled (millions tonnes) 17 17 17 24Au Grade (grams/tonne) 0.4 0.4 0.4 0.4Au Recovery 78% 78% 78% 78%
Total Au Production '000 175 170 - 180 185 - 190 250 - 260
Mining Cost/tonne $0.75 $0.75 $0.65 $0.60Milling Cost/tonne $2.70 $1.75 $1.40 $1.30
Capex (millions) $26 $120-130 $170-180 $60-70
OPERATING FORECAST (1)
(1) Estimates and forecasts from Kinross Corporate Life of Mine model.
(2) Estimated milling costs per tonne for 2005 includes G&A, forecast for 2006, 2007, and 2008 do not. For 2006, 2007 and 2008 estimated G&A and taxes costs add approx. $1.00/tonne. Average life of mine cost (include all operating costs) is $2.94/tonne.
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APPENDIXAPPENDIXAPPENDIX
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AWARDS AND CERTIFICATESAWARDS AND CERTIFICATES
Company to win the first Minas Ecologia Award – 1995.
First Brazilian Gold Mine to achieve ISO 14001 - in 2000.
Member of Environmental NGO “Amda” – since 1992.
Achieved Child Friendly certificate by NGO ABRINQ - since 2002.
Rated as a “Great Place to Work” – Exame Magazine 2003 and 2004.
First Brazilian Gold Mine to achieve SA 8000 - in 2004.
Classified as one of the best companies for people management by ValorCarreira Magazine - in 2004.
4th Place – Valor Carreira Magazine: Ranking in the best companies for people management - 2005
2nd Place – ABRH with the Open Arms Project (RPM Project for people with special necessities
Classified as one of the best companies for people management by ValorCarreira Magazine - in 2005.
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GEOGRAPHICAL POSITIONGEOGRAPHICAL POSITION
SOUTH AMERICA
BRAZIL
MINAS GERAIS STATE
BRASÍLIA
PARACATU
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PARACATU REGION
Population
Total 75,200Urban Zone 63,000
Hospitals 2Colleges 4Elementary and High Schools 52Technical School 2
Economy
Minerals: Gold, Limestone, Zinc and Lead Agricultural products: Soy Bean, Corn, Beans, Fruits,Cotton Cattle Raising: Milk and Meat
MINAS GERAIS STATE
São M
arco
s Rive
r
Pobre Creek
São Pedro River
São Domingos River
PARACATU
Rico Creek
Para
catu
Rive
r
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MINE DEVELOPMENT HIGHLIGHTS
1980 - RTZ Mineração begins exploration for gold
1985 - RPM is registered as a gold mining company
1986 - RPM is granted the mining licence
1987 - Start up of operations - First bullion produced (December)
1992 - Start up of the Optimisation project
1996 - February - Start up of the mine fleet
1997 - June - Start up of the expansion project II
1997 - October - Start up of the B2 ore mining
1999 - September - Start up of the 5th Mill – Expansion Project II
2002 – SAG Mill Pilot Plant Testwork – Start up of Expansion Project III studies
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Kinross Gold CorporationKinross Gold CorporationJanuary 12, 2006January 12, 2006
RPM EXPANSION PROJECT IIIRPM EXPANSION PROJECT III
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PROJECT IMPLEMENTATIONPROJECT IMPLEMENTATION
• FOLLOWING PMI® (Project Management Institute) GUIDELINES
• ONWER’S TEAM FULLY MOBILIZED
• EpCM CONTRACT ESTABLISHED WITH SNCL/MINERCONSULT CONSORTIUM
• CURRENTLY UNDERTAKING BASIC ENGINEERING
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Project ObjectivesProject Objectives
• Plant Capacity Increase from 18 to 32 Mtpa in 2008
• Plant Capacity Increase from 32 to 50 Mtpa from 2009 onwards
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Project ObjectivesProject Objectives
Life Of Mine Figures
Yearly Averages LOMTonnes processed x 000 18 > 32 > 50Au Production ozs 370,000
Operating Costs US$/tonne 2.94Total Cash Costs US$/oz 260
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Project ScopeProject Scope
• First Phase: • Comprises the installation of:
• New Mine Fleet
• In Pit Crusher
• Overland Conveyor
• Stockpile and Reclaiming Facility
• New Grinding Plant (one 38 x 22 ft SAG mill and one 40 x 24 ft ball mill)
• Flotation Capacity for Handling extra tonnage
• Hydromet Capacity for Handling extra tonnage
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Project ScopeProject Scope
• Second Phase: • Comprises the installation of:
• Another 40 x 24 ft ball mill
• Flotation Capacity for Handling extra tonnage
• Hydromet Capacity for Handling extra tonnage
• New Tailings Dam
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Project Scope (Process Flowsheet)Project Scope (Process Flowsheet)
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Project ScopeProject Scope
• Other On going Studies: • Alternative Methods for tailings disposal
• Ex.: Tailings cycloning
• Sulphuric Acid Plant• Treatment of Hydromet Tailings for generating acid• Reduction of Specific Pond Volumes
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Project Scope ManagementProject Scope Management
• Scope Control• Procedure defined in the Project Plan• Establishment of a Document Room for
document revision and approval by EpCM and Owner’s Team
• Management of Scope Change• Formal Procedure defined in the Project Plan• Existence of a Scope Change Committee for
approving any proposed change in scope
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Project ScheduleProject Schedule
• Main Milestones Phase 1: • Basic Engineering: 09/2005 to 03/2006• Feasibility Study Preparation and Approval: up
to 05/2006• Initiate Construction: 04/2006• Full Project Release: 06/2005• Detailed Engineering Complete: 12/2006• Practical Construction: 02/2008• Start Grinding Commissioning: 03/2008• Plant Start up: 04/2008
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Project ScheduleProject Schedule
• Main Milestones Phase 2: • Second Ball Mill Order: 10/2007• Second Ball Mill Manufacturing: up to 02/2008• Second Ball Mill Installation and
Commissioning: 12/2008• Plant Start up: 01/2009• New Tailings Dam Construction: from 04/2007
to 09/2008• New 500 kV Transmission Line Construction
(by Federal Government): 2007 and 2008
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Project Schedule ManagementProject Schedule Management
• Project is Schedule Driven
• S curves by disciplines are reviewed on weekly meetings with EpCM company
• Deviations (delays) are pointed out and discussed
• Action Plan for retrieving lost time are put forward
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Project CostProject Cost
• Total Capital Costs estimated to be $326 million*
• CAPEX Figures were estimated in the Plant Capacity Study (+/- 35 %) – July 2005
• Figures will be confirmed at the end of Basic Engineering – March 2006
• Feasibility Study will be re-run to confirm and recommend Expansion Level
* Total capital costs of $326 million relate to the two phase expansion from 18 to 32 to 50 million tpa. The breakdown is approx. 70% for Phase I and approx. 30% for Phase 2.
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Project Cost ManagementProject Cost Management
• EpCM systems are being set up (PM+)• RPM systems are being set up (Modcap and
SEC)• Cost will be tracked by Cost Centers • Cost Centers will be established for main Items
and Sub Items, following the Project WBS• Purchase Orders will be issued in accordance to
the budget amount in each Cost Centre• Extra budget items should be formally justified
prior to approval
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Project QA/QC ManagementProject QA/QC Management
• Quality Procedures embedded into the Project Plan
• Main Activities• Stakeholder Mapping and Needs Assessment• Quality Planning• Quality Control Procedures• Quality Guarantee Procedures
• Performance Testing
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Project Human ResourcesProject Human ResourcesOwner’s Team Organization Chart
OPCO EXCOKinross Americas
RPM Kinross Legal
Kinross Tech Services Kinross HSE
Kinross Finance Community Relations
COO CFO
Others Project Director
Frank Murray
Project Manager
Luis Albano Tondo
Engineering
Armando Onodera
Procurement
Hilario Centurion
Services (Planning/Cost
Control/Contract Adm)Leonardo Pereira
Construction Jose Mauro
Administration/HR Lilian Lima
HSEDurval Nogueira
Process/OpAnatalia Lara
Licensing CommitteeMining and Tailings
DamAntonio Landi
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Project Human ResourcesProject Human ResourcesAutonomy and Responsibility
• Authorization and Responsibility Matrix defined in the Project Plan, for each Owner’s team member
• Formal Procedures for Approval in place, following RPM standards tailored for the Project
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Project Communication PlanProject Communication Plan• Regular Meetings:
• Epcm/Owner’s Meeting – weekly• Owner’s Team – weekly• OPCO – fortnightly• TECHCO – every 3 months• RPM Management: monthly• Community: part of RPM Community Affairs Plan
• Reports:• Weekly Report to COO• Monthly Report from EpCM• Meeting Minutes
• Conference Call• Weekly with COO
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Project Risk ManagementProject Risk Management
• Methodology considered in the Project Plan• Activities involve:
• Risk Identification• Qualitative Analyses
• Probability and Severity Matrix• Risk Ranking
• Quantitative Analyses• Estimate Risk Impact on Project• Sensitivity Analysis and Monte Carlo Simulations
• Action Plan for responding to identified risks• Monitoring and Control of Identified Risks
• Identification of Opportunities
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Project AcquisitionsProject Acquisitions
• Following RPM formal standards, tailored for the Project.
• Bids with at least three Suppliers• EpCM company responsible for technical
specification development, bid technical analysis and recommendation and item expediting
• Owner’s team responsible for commercial analysis and final decision on the best technical-commercial option (cost-benefit analysis)
• Payments made by Owner’s team
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Project AcquisitionsProject Acquisitions
• So far, three main contracts are in place:
• EpCM contract
• SAG and Ball Mill from METSO
• SAG Gearless Drive from SIEMENS
• Total Committed to date: US$ 68.8 million
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Project IntegrationProject Integration
• Project Plan incorporating all management areas previously described, following the PMI guidelines
• Plan is dynamic and will be adapted as the project evolves
• Provides a formal description of Project Procedures
• Will become a standard within the Kinross Gold Corporation
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Kinross Gold Corporation40 King Street West, 52nd Floor
Scotia PlazaToronto, ON M5H 3Y2
416-365-5123416-363-6622866-561-3636
KGC: NYSE (Common shares)K: TSX (Common shares)K.U: TSX (US dollar trading symbol)K.WT: TSX (Warrants expiring 05/12/07)
23
THANK YOU