YANACOCHA GOLD MILL

Pedro Condori Benavides

Kim Hackney

Ben Burger

Yanacocha Gold Mill

Opening

Yanacocha Overview

Gold Mill Project

– Project Safety

– Project Environmental

– Project Overview

– Comminution Circuit

– CCD

– SART/AVR

– Tailings

– Operation Results

Close

PDS Model View Yanacocha Gold Mill

Yanacocha Gold Mill

Opening

Yanacocha Overview

Gold Mill Project

– Project Safety

– Project Environmental

– Project Overview

– Comminution Circuit

– CCD

– SART/AVR

– Tailings

– Operation Results

Close0.1

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1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

OUNCES PRODUCTION PROFILE

Carachugo Maqui Maqui Yanacocha La Quinua Total

Yanacocha Overview

Discovered in 1985

Production started 1993

Current Ownership

• Newmont 51.35%

• Buenaventura 43.65%

• IFC 5%

Peru

Lima

Cajamarca

Peru

Lima

Cajamarca

Current Operations– Standard open-pit mining

– Oxide and Transition run of mine heap leach

– Carbon and Merrill-Crowe processing

• 15,000 m3/h combined recovery plant capacity

– Process and acid water treatment• 4,800 m3/h treatment capacity

– Oxide / Transition mill

Future Snapshot– Open pit and potential

underground mining

– Oxide and Transition heap leach

– Oxide / Transition / Sulfide mill

– Gold / Silver / Copper concentrate production

Yanacocha Overview

YANACOCHA

OXIDES PIT

Deep Transition

Mineral/GoldMill

Sulfides Mill Process

Yanacocha Gold Mill

Opening

Yanacocha Overview

Gold Mill Project– Project Safety

– Project Environmental

– Project Overview

– Comminution Circuit

– CCD

– SART/AVR

– Tailings

– Operation Results

Close

Project Safety

Construction achieved safety excellence on the project

• ±3.6 million manhours without a lost time accident

• TRAFR actual of 0.70 Vs planned of 0.76

• LTAFR actual of 0.03 Vs planned of 0.05

Implemented a site specific electrical storm warning alert system

which protected the work force from electrical storms permitting

working in safe conditions during construction.

Safety Trends

0.00

0.30

0.60

0.90

1.20

1.50

Nov-05

Jan-06

Mar-0

6

May-0

6

Jul-06

Sep-06

Nov-06

Jan-07

Mar-0

7

May-0

7

Jul-07

Sep-07

Nov-07

Jan-08

Mar-0

8

May-0

8

TRAFR Target Cum. TRAFR Cum. LTAFR LTAFR Target

0.76

0.05

Project Environmental

Construction achieved environmental excellence on the project

• Environmental CPI actual of 92% Vs a planned of 89%

• Reclaimed areas immediately after areas construction complete.

Environmental Friendly Design

• Tailings placement with active La Quinua leach pad a “world first”

• Tailings containment uses common liner and drainage system incorporated

with the leach pad design.

• Tailings solutions are fully contained same as the La Quinua leach pad.

Project Overview

Business Objectives

• Improve financial returns

• Prepare for complex ores

• Efficiently exploit the resource potential

Provides infrastructure and skills base to support future sulfide ore

processing

Capital Costs

P50

Initial Capital Budget $240 M

Initial Capital Forecast $228 M

Total Capital Budget $250 M

Total Capital Forecast $245 M

Initial capital includes feasibility, engineering, construction, commissioning

Total project capital includes capital interest, pre-production costs and pre-production revenue before project achieves commercial production. Project achieved commercial production in one month, pre-production revenue not credited to project but to operations

Construction

Schedule Startup (first ore only)• Budget Q1 2008

• Actual Q1 2008

Commercial Production (first ore only)• Budget Q2 2008

• Actual Q2 2008 (Plant achieved commercial production)

Project completed within P50 Budget

Construction Statistics• Earthworks ± 1,175,000 M³

• Concrete ± 31,000 M³

• S/Steel ± 1,700 ton

• Piping ± 35,000 lm

• Cable Tray ± 8,500 lm

• Electrical cable ± 240,000 lm

Contractors

All contractors “Peruvian”– Earthworks Translei

– Concrete Works GYM

– Tanks Haug

– Structural/Mechanical SSK

Piping/Electrical

Local area contractors used promoting local work– Consitel

– Hurteco

– Angeles

– Ceyca

– Transporte Durant

Reclamation, fencing, drainage rip-rap, general cleaning executed by Community Contractors

YGM Construction Progress

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Jul-06

Sep-06

Nov-06

Jan-07

Mar-07

May-07

Jul-07

Sep-07

Nov-07

Jan-08

Mar-08

May-08

% C

om

ple

te

Recovery Plan Early Plan Late Plan Actual Recovery Target Actual

Ore to Mill

Commercial

Production

Oxidos

Mixto

Sulfuros

AuCN/AuFA CuCN SS

ratio ppm %

Oxide >0.6 <250 <1.5

Transitional <0.6 <1500 <1.5

Sulfide >1500 >10

Ore Characterization

Process Flow Sheet

Crusher Feed Bin

Jaw

Crusher

Stockpile Feed Conveyor

Crushed Ore Stockpile

(11 hr Storage)

Mill Feed Conveyor

Single Stage SAG Mill

(620tph) 16.5MW

Gearless Drive

Cyclones

Linear Trash

Screens

Sump &

PumpPre-Leach

Thickener

Process Water Tank

Lime &

Cyanide

Mill Sands Disposal at

La Quinua Leach Pad

Flocculant

NaHS &

H2SO4

Flocculant

Carbon Treatment

At La Quinua

NaOH

Recovered NaCN

To Process Water Tank

Flocculant

CONCENTRATE SALES

Feeder & Vibrating

Grizzly

EXISTING AT

AGGLOMERATOR

Leach Circuit

(6 Tanks @ 24 hrs)

Dilution Water

Precip Thickener

SART Neutralization

Tanks (4 Stages)

Gypsum

Recycle

Stripping & Adsorption Columns

(1 Set installed Initially, 5

eventually)

La Quinua Carbon

Adsorption Circuit

CCD Wash Solution

(LQ Barren)

AVR CIRCUIT

SART CIRCUIT

GOLD LEACH

PRIMARY CRUSHER

(Existing)

Lime &

Cyanide

CCD CIRCUIT

5 Stages

Precip Filter and

Bagging Plant

Gypsum Recycle to

Pre-leach Thickener

SAG

MILLING

CRUSHED ORE STOCKPILE

Flocculant

PRE-LEACH

THICKENER

Flocculant

Gypsum

Thickener

Lime

Copper Sulfide Precipitate

Eluate Treatment at

Yanacocha Norte

CarbonEluate

SART & AVR Bypass

(Oxide Ores)

AVR BypassNaCN Recycle

LQ Barren Solution for CCD Wash

and Process Water Make-Up

Pregnant Solution

Transfer to LQ

Reclaimed

Water to LQ

Leach Pads

SART NEUTRALIZATION

Raw Water Supply

From LQ AWTP

Existing Water Tank

at LQ Agglomeration

Lime Storage Tank

Lime Slurry From Lime

Slaker at LQ AWTP

Crusher Feed Bin

Jaw

Crusher

Stockpile Feed Conveyor

Crushed Ore Stockpile

(11 hr Storage)

Mill Feed Conveyor

Single Stage SAG Mill

(620tph) 16.5MW

Gearless Drive

Cyclones

Linear Trash

Screens

Sump &

PumpPre-Leach

Thickener

Process Water Tank

Lime &

Cyanide

Mill Sands Disposal at

La Quinua Leach Pad

Flocculant

NaHS &

H2SO4

Flocculant

Carbon Treatment

At La Quinua

NaOH

Recovered NaCN

To Process Water Tank

Flocculant

CONCENTRATE SALES

Feeder & Vibrating

Grizzly

EXISTING AT

AGGLOMERATOR

Leach Circuit

(6 Tanks @ 24 hrs)

Dilution Water

Precip Thickener

SART Neutralization

Tanks (4 Stages)

Gypsum

Recycle

Stripping & Adsorption Columns

(1 Set installed Initially, 5

eventually)

La Quinua Carbon

Adsorption Circuit

CCD Wash Solution

(LQ Barren)

AVR CIRCUIT

SART CIRCUIT

GOLD LEACH

PRIMARY CRUSHER

(Existing)

Lime &

Cyanide

CCD CIRCUIT

5 Stages

Precip Filter and

Bagging Plant

Gypsum Recycle to

Pre-leach Thickener

SAG

MILLING

CRUSHED ORE STOCKPILE

Flocculant

PRE-LEACH

THICKENER

Flocculant

Gypsum

Thickener

Lime

Copper Sulfide Precipitate

Eluate Treatment at

Yanacocha Norte

CarbonEluate

SART & AVR Bypass

(Oxide Ores)

AVR BypassNaCN Recycle

LQ Barren Solution for CCD Wash

and Process Water Make-Up

Pregnant Solution

Transfer to LQ

Reclaimed

Water to LQ

Leach Pads

SART NEUTRALIZATION

Raw Water Supply

From LQ AWTP

Existing Water Tank

at LQ Agglomeration

Lime Storage Tank

Lime Slurry From Lime

Slaker at LQ AWTP

Circuit Description

D-26 Krebs Cyclone

Single Stage SAG Mill

Primary Crushing Feed Stockpile

Circuit Description

Pre-leaching Tickener

CCD Circuit

Leaching

SARTTailing Pumps

Circuit Description

SART AVR

Reagent FacilitiesLa Quinua CIC Facilities

Comminution Circuit

Installation of a Single Stage SAG Mill with Gearless 16.5 MW Drive

– Technically superior to SAG and Ball Mill circuit with pinion drives

– Simpler operation and maintenance than a SAB mill circuit

– Simplified layout, providing improved access for maintenance

– Reduced capital costs vs. SAB circuit

– Reduced operating costs –grinding media, maintenance consumables

– Reduced requirement for capital spares

Comminution Circuit

Single Stage SAG achieves greater power draw variation

• At much lower ball charge – as much as 500 tonnes

• Due to higher AG component in power draw

More flexible, faster response to ore variations

Lower steel media / liner working inventory for steel consumables

Forecast 0.3 – 0.6 kg/t lower steel media consumption vs equivalent SAB circuit

Forecast 0.03 – 0.07 kg/t lower steel liner consumption – higher availability with fewer liner changes

Lower unit operating costs

Comminution Circuit

Wraparound drives provide operational advantages over pinion drives– Availability

– Power efficiency

– Energy utilization

– Reduced maintenance and lubrication inputs

– Inching capability

– Sophisticated frozen charge protection

– Variable speed and direction

A 16.5 MW twin pinion drive arrangement is considered to be at the limits of current drive technology

Tailings Overview

Tailings management system consists of three components: the tailings storage facility, pipeline corridor and tailings pump system.

Tailings Storage

Facility

Tailings Pipeline

Corridor

Tailings

Pump System

Tailings Storage Facility

48 million tones capacity.

Located within the LQ heap leach facility.

Fully lined facility ties into the LQ leach pad liner system.

Constructed in 3 Stages

– Stage 1 deposition elevation 3612m provides storage capacity for +2 years.

– Stage 2 deposition elevation 3628m starting in January 2010.

– Stage 3 deposition elevation 3660meters starting mid 2011.

Tailings

Liner and Drainage Systems Backup Drainage System

Deposition Distribution

YGM Ramp Up Tracker - Gold Production

Ounces Cumulative

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Budget

Forecast

Actual

YGMill - Ramp Up Tracker

Gold Recovery %

40%

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90%

100%

1-F

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-Fe

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30

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y

Actual

Budget

Forecast

Recovery

Silver 70%

Cooper 35%

Mercury 14%

YGM - Mill Availability - Daily

%

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100%

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-Ma

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Actual

Budget

Forecast

YGM - Tonnes per Hour Milled

DTPH

0

100

200

300

400

500

600

700

1-F

eb

8-F

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Actual

Budget

Forecast

LOM Gold Mill Production

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Ou

nc

es

x 1

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gr

Au

/to

n

Gold Production

Head Grade

Gold Production 277 331 269 532 517 807 769 263 204 3,969

Head Grade 2.99 2.69 2.09 3.99 4.07 5.75 5.73 2.97 2.85 3.73

2008 2009 2010 2011 2012 2013 2014 2015 2016 Total

Yanacocha Total Silver Production

Ounces x 1000

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

19

93

19

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Gold Mill Ag

Leaching Ag

Yanacocha Total Gold Production

Ounces x 1000

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500

1,000

1,500

2,000

2,500

3,000

3,500

19

93

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Gold Mill Au

Leaching Au

Yanacocha Production - Period until 2016

Control on Line : PI

Control Room

People

78 people (Operation + Maintenance) from actual operations

Performance Associate: Specific Topic (2 months)

General Concepts (1 month)

Stage in Phoenix, Nevada (13 Technicians, 3 months)

Stage in Mines of Peru (Cuajone, Toquepala, Antamina, Orcopampa, Chacua, Antapite, Poderosa, Marsa, Horizonte y Cerro Verde) 2 to 4 weeks, 78 people.

Vendors Training

Final Construction (2 month)

Commissioning and Pre operations (1 month).

Star up people support : 5 Inti Raymi, 3 Batu Hijau, 1Twin Creek, 1Jundee and 2 Denver.

Yanacocha Gold Mill

Opening

Yanacocha Overview

Gold Mill Project– Project Safety

– Project Environmental

– Project Overview

– Comminution Circuit

– CCD

– SART/AVR

– Tailings

– Operation Results

Close