newmont mining Indaba_PP2_6_07_Final
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Transcript of newmont mining Indaba_PP2_6_07_Final
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Africa – A Growing Business Region
Jeff HuspeniVice President, Exploration Business DevelopmentIndaba ConferenceFebruary 6, 2007
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Newmont’s History In Africa
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Ahafo Mine
• Project Completion–Scope, Schedule, Cost
• Community Support
• Start-up and Commissioning • Operating Performance• First Gold – July 18, 2006
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Susuan – New* Discovery From Integrated Exploration
*2005
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Ahafo Growth
(1)At $400/oz Au(2)At $425/oz Au
0
5
10
15
20
25
30
1995 1997 1999 2001 2003 2005 2007 2009
Au
Moz
ProductionProduction
16.4 Moz Reserves(1) + NRM(2)
12.2 Moz Reserves(1)
Year-End 2005
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-202468
10121416
2002 2003 2004 2005
North America South America IndonesiaAustralia Ghana
Ghana’s Contribution To Reserve Growth
Res
erve
Add
ition
s by
Reg
ion*
(Moz
)
• 32% of Reserve Additions Are From Ghana
*Excludes acquired ounces
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World Quality Assets
1
10
100
10 100 1,000
Reserve and Non-Reserve Mineralized Material Tons (Mt)
Gra
de (g
/t)
1 Moz
5 Moz10 Moz
50 Moz
1
Ahafo - 2002
Akyem - 2002
Ahafo - 2005
Akyem - 2005
Source: Minerals Economics Group
All Known Gold Deposits
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Prospective Terrains –A Common History
Atlantic Ocean
Ahafo
Akyem
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2006 Greenfields Exploration Focus
*Exclusive of Opportunity Funds
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African Business Development
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Regional Framework Studies –Focus On Prospectivity
• Goal : 85% Of Prospectivity In 10% Of The Terrain
Topography
LansatGeophysicsGeochemistry
Geology
Data Compilation & Interpretation Prospectivity Analysis
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Exploration Tool BoxProprietary BLEG Technology
Bill Griffin: BLEG
• Rapid reliable reconnaissance tool• Ultra-low gold detection and precision• Noteable discoveries: Batu Hijau, Minihasa, Ovacik, Perama Hill, Martabe
Akyem BLEG Orientation Survey
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Exploration ToolboxAirborne EM And Magnetics
Resistivity Depth Slice At 50m:<6 ohm meters,>60 ohm meters
Depth of Investigation: 75m-200m
• Proprietary NEWTEM EM System• Resistivity/conductivity depth slice mapping• District reconnaissance tool
Aeromagnetic Interpretation• Detailed Lithologic and Structural model
Cees Swager:Structural
Geology
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Exploration Toolbox IP And Gravity
Gradient Array Interpretation
Jeremy Cook: Geophysics Gravity Survey
• Growing database• Integrated with district data portfolio
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Exploration ToolboxRegolith Mapping & Geochemistry
Simon Bolster: Regolith
Nigel Radford: Geochemistry
• Understanding regolithdistribution + profile
• Knowing which data totrust
• Improved geochemicalinterpretation
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Seeking Business Partnerships• Successful partnerships• Joint ventures• Private placements• Creative merchant banking
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In Conclusion….
• Back in Africa, and glad to be here
• Built and operating Ahafo
• Optimizing Akyem
• Pleased with Africa’s contribution to global reserve growth
• Proprietary tools, specialists, and training for integrated exploration
• ~7 Moz annual equity reserve depletion – seeking business opportunities to help address this goal