Buzwagi. Site Visit September 2010

Transcription

1 Buzwagi Site Visit September 2010

2 Disclaimer Important Notice This presentation has been provided to you for information purposes only. It does not constitute an offer, solicitation, invitation or inducement to purchase, subscribe or otherwise acquire or to sell or otherwise dispose of any securities of African Barrick Gold plc ("ABG") or engage in any investment activity in connection with the capital of ABG in any jurisdiction. The information or opinions contained in this presentation shall not form the basis of, or be relied on in connection with, or act as any inducement to enter into, any contract or commitment or investment decision whatsoever in connection with ABG. The information and opinions contained in this presentation are provided as of the date of this presentation and are subject to change without notice. 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3 Where Are We 2

4 Overview/History Gold mineralisation first recognized on this property in the 1950 s Exploration began in under the direction of Anmercosa (Exploration Arm of Anglo American Corporation) Pangea Minerals Ltd (PML) continued Exploration from Pre-Feasibility study in December 2005 Feasibility study in 2006 Mineral Development Agreement and EIA approved in February 2007 Special Mining License approved, 25 th July 2007 Site Access, 20 th August 2007 Commenced Ore Mining and Stockpiling, October 2008 Plant Commissioning: Q First Gold Pour: Q Project Cost: $402M 3

5 Safety and Environmental Performance 2 MTI injuries ytd Aug/10: 6.0 million man-hrs LTI free EHS Audit ICMI code compliance by Dec/10 No regulatory compliance issues Zero discharge mine 73ha rain water catchment area 4

6 Buzwagi Site Layout Mwendakulima N Mwime Chapulwa 5

7 Community Relations RAP 99.8% complete Local procurement and employment Support of three school projects Government Vision Partnership (health clinic) Bee Keepers Association Community farm Golden Ridge ESIA 6

8 Geology Overview Dec 31/09 Reserves 1.61 g/mt, 3.4M ounces Dec 31/09 Resources 1.18 g/mt, 0.96M ounces Shear Hosted quartz vein deposit GC drilling and production gains Seeing upside in unclassified LG material Geologic control on transitional material Mine and mill impacts 7

9 Mineralization Geology Geology Legend Definitions KFGT = K-Feldspar Granite NAGT = Na-Feldspar Granite TNL = Tonalite QSGT = Quartz Sericite Granite SHGT = Sheared Granite MVOL = Mafic Volcanic UMAF = Ultramafic N 8

10 Perspective view of Domain Wireframes and Pit Design 9

11 GC Model Sec

12 Long Sec mE Stage 3 pit Base of saprock- expl Base of saprock- GC Stage 1 pit design Current stage 1 pit 11

13 Mine Overview 30.0M tones mined per annum Single Open Pit Mined in 4 Stages over 15 year LOM Mobile Fleet 13 trucks, 4 excavators, 2 loaders, 5 drills Planned fleet expansion in

14 Mobile Fleet Mobile Fleet Current 2011 Comment Trucks Komatsu pit depth, haul distance Trucks Komatsu Excavators PC Excavators PC Excavators PC second unit with scaler attachment Loader W Drills Atlas Copco DML Drills Sandvik D25K 2 2 on contract Drills Sandvik DP on contract 7 Dozers Komatsu D pit, dumps, TSF, stockpile Graders GD Water Cart Komatsu

15 Buzwagi Pits Stage 3 Stage 1 Stage 2 Stage 4 14

16 Stages 1,2,3&4 15

17 Mill Overview 4.4M tones milled per annum Processing Gravity, flotation & CIL to produce dore and copper concentrate Concentrate trucked to port and sold to smelter Infrastructure 107 km power line, 350 person village, 73 ha Water Harvest Area Designed to be Cyanide Code compliant 16

18 Process Flowsheet 17

19 Buzwagi Operations Establishment of new management team Transitioning from construction/commissioning to operations Transitional pit material More extensive than expected Mobile fleet size rationalization Staged expansion, auxiliary equip. Mill efficiencies 10k tpd to 12k tpd, recoveries moving to 90%+ 18

20 Operations Improvements Mine: Production drilling Trim blasts and Geotech Fleet rationalization Geology Grade Control drilling Upside on LG material 19

21 Operations Improvements Mill: SAG discharge liner pebble port grate sizing Portable secondary Crushing To sustain 12k tpd throughput when hard ore is present Re-reclean in Flotation Plant Diesel spinning power Optimize Sulfur burning Required for CN Code compliance Wad CN levels affects float circuit recovery (to 90%+) 20

22 Security Strategy Fuel Management System Co-operation with regional authorities key Harden site and village perimeter Security Academy Guards & Leadership Training Dog Handlers K9 Breeding & Training Program 21

23 Exploration and Project Pipeline Village Reef Within mine tenements Phase 2 drilling in 2011 Golden Ridge 55km to north In pre-feasibility study phase ESIA progressing Potential for alternate feed source to Buzwagi 22

24 Village Reef Exploration 23

25 50km Golden Ridge - Location Golden Ridge Located 30km SE of Bulyanhulu and 55km N of Buzwagi. 100km S of Mwanza Accessible by road from Dar es Salaam Tusker Kitongo Bulyanhulu Golden Ridge Jomu Buzwagi 24

26 Golden Ridge Project Headlines Property and Tenure Tenement holdings in the project area covers 291km 2 Potential gold resources in three localities Golden Ridge, Hill 5 and Jomu Golden Ridge project is 100% owned by Barrick Exploration Africa Ltd (BEAL) BEAL has permits to continue exploration Geology and Mineralisation Project situated in the Achaean Sukumaland greenstone belt part of Tanzanian Craton Mineralization consists primarily of replacement style sulphidised BIFs The Golden Ridge Main zone is 2.5km in strike length with internal higher grade shoots Mineralized portion of the BIF is commonly 15-30m in width 25

27 Questions? 26