South America Region Cerro Corona
Investor Visit Cajamarca, Peru
Day 2 | 15 November 2011
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.
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 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 environmental regulations; and new legislation affecting mining and mineral rights;
changes in exchange rates; currency devaluations; inflation and other macro-economic factors, industrial action, temporary
stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS crisis in South Africa. These
forward looking statements speak only as of the date of this document.
The company 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.
Safety First
Cerro Corona: Project Location
Cerro Corona: Project Location
Location Map
The Cerro Corona orebody is a coppergold porphyry
Cerro Corrona mining operation is
located 1.5km west-northwest of the
village of Hualgayoc
600km north-northwest of Lima and 80km
by paved road from Cajamarca
400
250km
Km
Salaverry
SalaverryPort
Port
Concentrates are transported 400km to
the Salaverry Port
TRC
TRCConcentrate
Concentrate
Warehouse
warehouse
Key Milestones
Delivered a world-class project in record time
31 August
January
Project acquisition
completed
Jan - 06
End Transition
from Construction
to Operation
Jul - 08 Aug - 08
Start-up:
First rock to plant
Sep - 08
Ramp up
completed
Dec - 08
30 September 2008
26 July 2008
December
First shipment
Certifications
ISO
Dec 2009
OHSAS
Jun 2010
Integrated System
Aug 2011
2009
2010
2011
2009, 2010,2011
Perus safest open
pit operation
Cerro Corona Operation Layout
Lif of Mine Reserves (December 2010)
Tons (Mt)
Gold Grade (g/t) Copper Grade (%)
Gold (koz)
Copper (Mlb)
Proved
42.2
1.04
0.56
1,405
520
Probable
44.1
0.89
0.46
1,267
444
TOTAL
86.3
0.96
0.51
2,672
965
Process Flow Sheet
OPEN
PIT
CONCENTRATE
400 t/d (21% Cu, 1oz/t Au)
CRUSHING
GRINDING
FLOTATION
TONNAGE
20K t/d (0.5% Cu, 1g/t Au)
Tails
TAILING DAM
Utilities
Power
220 MW Power line from Cajamarca Norte to Cerro Corona sub-stations.
Cerro Corona consumption: 20 MW
Water
Water for process: Recycling from TMF.
Water-balance: Rainfall & Diversion channels
Permitting Approved in 2010/2011
EIS permitting: 4th Modification.
Closure plan: 2nd Modification.
Salaverry Port EIS amendment.
18
Dec-10
1508
12
13
1397
12
Mar-11
Jun-11
1629
1180
808
1003
565
Sep-11
1412
993
1081
Sep-11
Hazards Reported
Jun-11
Jun-11
Mar-11
Dec-10
Sep-10
Jun-10
Mar-10
Dec-09
Sep-09
Jun-09
Mar-11
23
1
Dec-10
Dec-10
Sep-10
Minor Injuries
Jun-10
0
3
Mar-10
Dec-09
Sep-10
Sep-09
Jun-10
Lost Time Injuries
Jun-09
Sep-11
Mar-10
Sep-11
15
Jun-11
Mar-11
Sep-10
15
Jun-10
16
Mar-10
18
0
Dec-09
Sep-09
Jun-09
0
Dec-09
Sep-09
Jun-09
Safety Statistics
If we cannot mine safely, we will not mine
Medically Treated Injuries
3
2
1
0
1
19
KPI - Throughput
Throughput (tph)
800
800
775
777
775
2010
2011 YTD
750
729
700
650
615
600
2008
2009
Actual (tph)
Design (tph)
________________________
Note: 2011 YTD for the 10 months ending October 2011
20
KPI Plant Availability
Plant Availability (%)
100
98
95.42
96
95.17
94
91.32
91.09
92
91.32
90
88
86
84
82
80.81
80
2008
2009
2010
Actual (%)
2011 YTD
Design (%)
________________________
Note: 2011 YTD for the 10 months ending October 2011
21
KPI Gold Head Grade
Au Head Grade (g/t)
1.24
1.25
1.22
1.20
1.20
1.20
1.16
1.15
1.10
1.08
1.05
1.00
1.01
1.01
2010
2011 YTD
0.95
2008
2009
Actual (g/t)
Base Case (g/t)
(*)
________________________
Note: 2011 YTD for the 10 months ending October 2011
22
KPI Copper Head Grade
Cu Head Grade (%)
0.90
0.85
0.84
0.80
0.75
0.80
0.75
0.74
0.74
0.70
0.65
0.65
0.63
0.60
0.54
0.55
0.50
2008
2009
Actual (%)
2010
2011 YTD
Base Case (%)
________________________
Note: 2011 YTD for the 10 months ending October 2011
23
KPI Gold Recovery
Au Recovery (%)
70
68
66
65.2
64
64.4
63.7
62
60
58
56
54
54.0
52
50
2008
2009
2010
2011 YTD
Actual (%)
________________________
Note: 2011 YTD for the 10 months ending October 2011
24
KPI Copper Recovery
Cu Recovery (%)
88
83
82.9
82.7
80.2
78
73
68
63
60.9
58
2008
2009
2010
2011 YTD
Actual (%)
________________________
Note: 2011 YTD for the 10 months ending October 2011
25
KPI Gold Production
Au produced (oz)
150 000
132,420
127,278
130 000
119,563
118,648
115,618
110 000
115,030
90 000
70 000
65,635
50 000
32,937
30 000
2008 (Aug-Dec)
2009 (Jan-Oct)
Actual (oz)
2010 (Jan-Oct)
2011 (Jan-Oct)
Base Case (oz)
26
KPI Copper Production
Cu produced (t)
40 000
35,132
35 000
32,206
30,079
30 000
26,791
25 000
25,954
22,867
20 000
15 000
15,465
10 000
7,007
5 000
2008 (Aug-Dec)
2009 (Jan-Oct)
Actual (t)
2010 (Jan-Oct)
2011 (Jan-Oct)
Base Case (t)
27
KPI Gold Equivalent Production
Equivalent Ounces Produced (oz)
360 000
341,982
312,395
310 000
274,607
260 000
268,415
250,922
238,377
210 000
160 000
152,768
110 000
73,977
60 000
2008 (Aug-Dec)
2009 (Jan-Oct)
2010 (Jan-Oct)
2011 (Jan-Oct)
Actual (eq oz)
28
KPI Operating Expenditure
Operating expenditure (2008 2011)
156
160
158
550
500
514
140
470
123
120
450
400
406
388
350
100
300
80
250
60
200
150
38
40
100
20
26.0
25.6
24.7
2009
2010
2011 YTD
50
23.2
0
2008
Operating Costs (US$m | LHS))
Operation Cost/Eq ounce (US$/oz | RHS)
Operating cost/tonne milled (US$/t | RHS)
________________________
Note: 2011 YTD for the 9 months ending September 2011
29
KPI Captital Expenditure
Capital expenditure (2008 2011)
3600
300
3292
3200
250
244
2800
2400
200
2000
150
1600
100
1200
85
70
49
50
257
172
162
2010
2011 YTD
800
400
0
2008
2009
Capex (US$m | LHS)
Capex/Eq ounce (US$/oz | RHS)
________________________
Note: 2011 YTD for the 9 months ending September 2011
30
KPI NCE & NCE margin | Total Cash Cost & Operating margin
Key financial metrics
1800
80
72
71
1600
1560
70
62
1400
60
61
1200
56
50
1000
43
40
35
800
626
30
600
557
532
426
380
400
363
361
20
10
200
0
2008
NCE (US$m | LHS)
2009
Total Cash Cost (US$m | LHS)
2010
Operating Margin (% | RHS)
2011 YTD
NCE Margin (% | RHS)
________________________
Note: 2011 YTD for the 9 months ending September 2011
31
Optimization Projects
Cerro Corona optimization projects underway
Optimization program launched Q4 2010
Actual results show a 2%-3% increase in recoveries
Metallurgical task team in place
Recovery and Grades
Main projects implemented
100
Improve reagent dosing and addition
95
RST&CST characterization
90
Expert control system rougher flotation
85
Gravimetric concentration
Expert control system cleaning flotation
Automatic reagent dosing
Pebble crusher
Recovery %
Improve mechanical slurry conditioning
1.55
1.35
80
1.15
75
70
Grade
Main projects underway
1.75
0.95
65
0.75
60
55
0.55
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Au Recovery
Cu Recovery
Au Grade
Cu Grade
Phase II Mine to Mill
32
Cerro Corona: Production Plan (2011-2024)
Ore
Life of Mine
Tonnes (millions)
86.3
Au grade (g/t)
0.96
Cu grade (%)
0.51
Au recovery (%)
73.2
Cu recovery (%)
87.9
Concentrate
Life of Mine
Tonnes (000)
1,672
Au grade (g/t)
36
Cu grade (%)
23
Au ounces (000oz)
Cu tonnes (000t)
Au-eq ounces1(000)
1,876
369
4,197
____________________________
1. Au Price US$1,400/oz; Cu Price US$8,600/t
33
Social Development
Social Development
Role: catalysts of development
Infrastructure
Local
Employment
&
Training
Sustainable
Development
Projects
BUILDING RELATIONSHIPS OF TRUST
9
9
9
9
9
9
9
Roads
Electrification
Communications
Health and Safety
Potable Water
Education
Port infrastructure
9 Direct / indirect employment
9 Community contractors
9 Training programs
9
9
9
9
9
9
9
Self-sustaining
Economic circles
Dairy production
Blueberries
Pork and guinea pig farms
Services
Forestation
34
Sustainable Development
Improved
pastures
Improved
pastures
Improved cattle
Potatoes
Colza (bio-diesel)
35
Cerro Corona: 5 Year Plan
Strategic Objectives
To be the best
place to work
in the
industry
Consolidate
operational
efficiency
Gold Fields
best
operation in
2015
Increase
reserves to
127Mt from
86Mt
To be the
leader in
sustainable
gold mining
Target
production of
500koz Au-Eq
36
Key Strategic Initiatives
Description
Optimise Our Operations
Grow Gold Fields
Secure our Future
Timeline
Process Plant
Optimization
Implement Optimization
Projects to increase
recoveries & throughput
Q2 2012
Sulphide plant
Expansion
Analyze feasibility of sulphide
plant expansion
Q4 2012
Leach Pad for
Oxides
Complete feasibility study for
leach pad alternative
Q4 2012
Consolidate Social
stability
Secure social stability for the
sustainability of operations
On going
Convert resources
to reserves
Achieve potential reserve
increase of ~40Mt
Q1 2013
Talent / People
Develop and retain key talent
On going
37
Questions?
