Operating one of the largest gold mines in the world. Tahirou Ballo

Operating one of the largest gold mines in the world… Tahirou Ballo Loulo District… a world class destination Baboto System Discovered in 1997. 250K...
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Operating one of the largest gold mines in the world… Tahirou Ballo

Loulo District… a world class destination Baboto System Discovered in 1997. 250Koz @ 2g/t (4.2Mt) Loulo 3 Discovered in 2007. 370Koz @ 3.4g/t (3.4Mt)

Baboto

N

Gara

Loulo3

Yalea

Gara System Acquired in 1996. 2.6Moz @ 3.8g/t (21Mt)

Loulo District Rejuvenated resource triangle, nine priority exploration targets on major structures.

Faraba System Discovered in 1998. 320Koz @ 2g/t (4.7Mt)

Yalea System Discovered in 1997. 5.4Moz @ 4.9g/t (34Mt)

Gounkoto System Discovered in 2009. 4.2Moz @ 4.3g/t (30Mt)

Total Ore Reserves… 7.8Moz @ 4.5g/t (52Mt)

Gounkoto 2km

Faraba

Deposit Priority Target Major Structure Faleme Mafic Suite Iron Skarn Limestone Conglomerate 50 ppb Au soil

Discovery and evolution of LouloGounkoto Complex... 2012

2014

2014

Loulo plant expansion

Gounkoto UG feasibility commences

Production exceeds 600 000oz

2015

Transition to UG owner mining

2011 Gara UG first gold

2010

2009 Gounkoto discovery resource

Gounkoto incorporated as separate company

2011

2008

Gounkoto first gold from open pit

1981

Syndicat Or discovered Loulo-0 deposit

2004

1997

1992

BHP Mali acquired Yalea discovery BRGM shares in resource Syndicat Or

1989

Somilo was created in purpose to mine Loulo-0 deposit

1996 Randgold acquired BHP Mali

Loulo construction starts

2005 Loulo UG feasibility approved

2003

2005

Updated feasibility study Total reserve 1.28Moz

Loulo mine opening

Yalea UG first gold

2006 Loulo UG development starts

Loulo-Gounkoto organogram…

GM Loulo/Gounkoto Tahirou Ballo

Human Resources Samba Diallo

Health & Safety Dr Mama Kanta

Financial & Admin Daouda Dembele

Open pit Mining Cheick A K Sangare

Security Harry Jooste

Engineering Abbas Coulibaly

Mineral Environment Resources /Community Ousmane Moussa I Traore Kante Supply Chain Zoumana Gakou

UG Mining Mahamadoun

Cisse Processing Abdoulaye Kone

Loulo-Gounkoto Complex...employees Nationals: 94% Expats: 6% Mine Expats 155 (4%)

Contractors Nationals 1962 (48%)

Contractors Expats 66 (2%)

Mine Nationals 1734 (42%)

Temporary Nationals 179 (4%)

Investing in our people for the future… Transition to UG owner mining was successful thanks to the success of our strategy of empowerment of the host country national employees and our skills development: including bursaries and executive development training. Some high flying students sponsored by Randgold are now key leaders of the company   

Hilaire Bebian Diarra: Group Environment and Social Development Manager Mohamed Cisse: Loulo Underground mining Manager Cheick Sangare: Gounkoto Mining Manager

One Team, One Mission Sustain production of 600Koz over the next 10 years Deliver value to all our stakeholders whilst strive to maintaining global best practice and investing in our people

Loulo-Gounkoto…safety, health and environmental performance Proactive management of H&S risks

0,40 0,30 0,20 0,10 0,00

Malaria eradication programme being implemented Health programme against hepatitis B launched

2,5

No major environmental incident reported

1,5

CN Management code compliance Both operations are certified OHSAS 18001: 2007 and ISO 14001:2004

2 1 0,5 0

80

m3/t

Loulo

m3

Fresh water 1,50

Gounkoto

m3/t

1,00 0,50 0,00 2011 2012 2013 2014 2015 YTD 2016

3 LTIFR 2,5 2 1,5 1 0,5 0

2012 2013 2014 2015 YTD 2016

100 Malaria incidence rate

Environmental assessment 60 concluded - good conservation condition of site biodiversity 40

80 60 40

20

20

0

0 2011 2012 2013 2014 2015 2016

2011 2012 2013 2014 2015 2016

7

Loulo mining schedule… Development towards the South of Yalea commenced Developed reserves Mine expansion at Gara with the addition of the Far South Moz decline 5 4 3 2 1 0 YALEA

GARA

Mineable reserves 240 Oz 000 220 200 180 160 YALEA

GARA

Loulo UG mining shows a steady improvement since owner mining started…

Owner mining commences

Tonnes mined kt

80

800

Yalea

Gara

Cost/t

700

70

600

60

500

50

400

40

300

30

200

20

100

10 0

0 Q1-2015

Q2-2015

Q3-2015

Q4-2015

Q1-2016

Q2-2016

Q3-2016

Owner miner success story… Successful transition from contract mining to owner operator Commissioning of the UG refrigeration project

Steady state availability in UG fleet help in achieving production…. Availability

Q1

Q2

Q3

YTD

Planned

83%

83%

85%

83%

UG Fleet

84.52%

83.26%

83.01

83.59

Automated loaders have significantly improved productivity Longhole drilling performance has improve by 16% Truck performance has improved by 14% Production cost reduced by 13% Development cost reduced by 15%

Still mining opencast pits… End September 2016 Topo Surface End September 2016 Topo Surface

Current LOM Pit

Super-pit

400

Oz 000

Gounkoto production without and with Super Pit

300 200 100 0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 GKT LOM Oz Without Superpit

GKT LOM Oz With Superpit

Loulo-Gounkoto development… We are here

4 3 2

Gounkoto OC Mining

1 Yalea and Gara contract UG mining

0 Yalea and Gara contract OC Mining Power plant 15MW 6 tanks for CIL 2 x 4.5 MW ball mills

Achieve full production and paid off capital investment Additional 5 year of production added to open pit mine life as result of extra GC drilling

Power upgrade 29 MW UG conveyor/crushing Ventilation and pumping 10 tanks for CIL 1 X 7 MW ball train upgrade

UG transition to owner Mining Power upgrade 50 MW Refrigeration plant Additional Elution circuit Additional Regeneration kiln Replace aging 15 Cat generators (1MW)

UG owner Mining Improved efficiency Lower cost margins Safety through Automation Refrigeration Local empowerment

Plant throughput ramp up… project-to-date Throughput ramp up along with CIL circuit and oxygenation upgrade 5,0 4,5 4,0

Tonnes million

4.8Mt Sustainability and Efficiency for LOM

Throughput ≈ 1.2Mt average per quarter On the back of M2M Project and efficient use of mine assets Upgrade Secondary crusher

3,5 3,0 2,5

Primary mill commissioning

2,0 1,5 Upgrade crushing plant

1,0 0,5

Underground Overland conveyor Screening plant

START-UP 2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

0,0

Plant recovery ramp up…project-to-date Recovery ramp up with CIL Circuit upgrade Number of CIL Tanks

Overall Recovery

Recovery trend 97

14 Recovery ramp-up : Extra Tanks Additional oxygen plant and gravity concentrators

Yalea OC High copper

12

96 95

10

94 93

8

92 6

91 90

4

89 88 2016

2015

2014

2012

2011

2010

2013

14 x CIL Tanks 350 - 400 kt/month

14 x CIL Tanks 300 - 350kt/month 2008

2007

2006

2005

0

06 x CIL Tanks 250kt/month

2009

2

87

Loulo-Gounkoto complex… operating results 9 months ended 30 Sep 2016

12 months ended 31 Dec 31 Dec 2015 2014

Mining Tonnes mined (000)

28 753

31 360

27 025

3 287

4 513

4 539

3 612

4 543

4 396

4.7

4.8

5.0

90.9

90.1

90.2

Ounces produced

500 993

630 167

639 219

Ounces sold

496 780

630 627

631 124

1 257

1 148

1 267

Cash operating costs* ($/oz)

524

606

597

Total cash costs* ($/oz)

599

675

672

15 952

8 133

9 708

Profit from mining activity* ($000)

326 892

298 396

375 293

Gold sales* ($000)

624 673

724 167

799 718

Ore tonnes mined (000) Milling Tonnes processed (000) Head grade milled (g/t) Recovery (%)

Average price received ($/oz)

Gold on hand at period end# ($000)

Refer to Q3 2016 quarterly report for footnotes

Loulo-Gounkoto…actual and forecast production Production Oz 000 Total cash cost/oz Capex $m

Grade g/t

800

6

700

5

600 4

500

3

400 300

2

200 1

100

0

0 2012

2013

Oz actual

2014

2015

Oz forecast

2016

2017

2018

Total Cash Cost/oz

2019

2020

Capital

2021

Grade

Strategic Imperatives… Drive the hunt for next world class discovery - plan to replace whatever we mined Focus on our DNA and develop leaders at each level in the organization Better selection and development to ensure we have the right people in the right seats Better engagement of our peoples’ hearts, minds and bodies Contract review, understanding and ownership at operational level – maintaining core skills all the time. Show people we can build a world class company in Africa with Africans. We said that we would do U/G mining ourselves and we did because we have the right skills Improve our Gap management and execution Understand and own our orebodies Improved cost control and continuous improvement in cost effectiveness Capital, Engineering and Metallurgy to become more innovative and driven by engineered cost efficient solutions We can be innovative. We can engineer our solutions. Improved stakeholder engagement - We need to improve our stakeholder engagement. Our stakeholders are an integral part of our organization - partners, employees, government, communities. Run our operations like businesses Develop and deliver an efficient and cost effective Open cast mining solution. Ensure our underground owner mining business is sustainable (maintenance and backfill). World class UG maintenance and backfill

Contribution to Malian economy… to date LOULO Royalties and taxes $ 0.5 billion

Local suppliers, local salaries, community investment $ 1.6 billion

Total payment $2.1 billion

GOUNKOTO Royalties and taxes $ 0.3

Divends to the State $84 million

Local suppliers, local salaries, community investment $ 0.3 billion

Total payment $0.7million

Disclaimer… CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the historical information contained herein, the matters discussed in this presentation are 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, and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, the estimation of mineral reserves and resources, the realisation of mineral reserve estimates, the timing and amount of estimated future production, costs of production, reserve determination and reserve conversion rates. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as ‘will’, ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘occur’ or ‘be achieved’. Assumptions upon which such forward-looking statements are based are in turn based on factors and events that are not within the control of Randgold Resources Limited (‘Randgold’) and there is no assurance they will prove to be correct. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Randgold to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to mining operations, including political risks and instability and risks related to international operations, actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, as well as those factors discussed in Randgold’s filings with the US Securities and Exchange Commission (the ‘SEC’). Although Randgold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Randgold does not undertake to update any forward-looking statements herein, except in accordance with applicable securities laws. Randgold reports its mineral resources and mineral reserves in accordance with the JORC 2012 code. As such numbers are reported to the second significant digit. They are equivalent to National Instrument 43-101. Mineral resources are reported at a cut-off grade based on a gold price of US$1 500/oz. The reporting of mineral reserves is also in accordance with Industry Guide 7. Pit optimisations are carried out at a gold price of US$1 000/oz, except for Morila which is reported at US$1 300/oz. Mineral reserves are reported at a cut-off grade based on US$1 000/oz gold price within the pit designs. Underground reserves are also based on a gold price of US$1 000/oz. Dilution and ore loss are incorporated into the calculation of reserves. Cautionary note to US investors: The United States Securities and Exchange Commission (the SEC) permits mining companies, in their filings with the SEC, to disclose only proven and probable ore reserves. Randgold uses certain terms in this annual report such as ‘resources’, that the SEC does not recognise and strictly prohibits the company from including in its filings with the SEC. Investors are cautioned not to assume that all or any parts of the company’s resources will ever be converted into reserves which qualify as ‘proven and probable reserves’ for the purposes of the SEC’s Industry Guide number 7.

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