18 September 2013 The Manager, Companies Australian Securities Exchange Companies Announcement Centre Level 4, 20 Bond Street Sydney NSW 2000 Dear Sir/Madam, OZ Minerals 2013 September Presentation Please find attached the OZ Minerals presentation to be made at the Credit Suisse Global Steel and Mining Conference. The presentation will also be used during the Company’s September investor roadshow in the United Kingdom and the United States. Yours faithfully, Francesca Lee General Counsel & Company Secretary
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OZ MINERALS • PAGE 2
DISCLAIMER
This presentation has been prepared by OZ Minerals Limited (“OZ Minerals”) and consists of written materials/slides for a presentation concerning OZ Minerals. By reviewing/attending this presentation, you agree to be bound by the following conditions. No representation or warranty, express or implied, is made as to the fairness, accuracy, or completeness of the information, contained in the presentation or of the views, opinions and conclusions contained in this material. To the maximum extent permitted by law, OZ Minerals and its related bodies corporate and affiliates, and its respective directors, officers, employees, agents and advisers disclaim any liability (including, without limitation any liability arising from fault or negligence) for any loss or damage arising from any use of this material or its contents, including any error or omission there from, or otherwise arising in connection with it. Some statements in this presentation are forward-looking statements within the meaning of the US securities laws. Such statements include, but are not limited to, statements with regard to capacity, future production and grades, projections for sales growth, estimated revenues and reserves, targets for cost savings, the construction cost of new projects, projected capital expenditures, the timing of new projects, future cash flow and debt levels, the outlook for minerals and metals prices, the outlook for economic recovery and trends in the trading environment and may be (but are not necessarily) identified by the use of phrases such as “will”, “expect”, “anticipate”, “believe” and “envisage”. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and may be outside OZ Minerals’ control. Actual results and developments may differ materially from those expressed or implied in such statements because of a number of factors, including levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or regulation. Given these risks and uncertainties, undue reliance should not be placed on forward-looking statements which speak only as at the date of the presentation. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, OZ Minerals does not undertake any obligation to publicly release any updates or revisions to any forward looking statements contained in this presentation, whether as a result of any change in OZ Mineral’s expectations in relation to them, or any change in events, conditions or circumstances on which any such statement is based. Certain statistical and other information included in this presentation is sourced from publicly available third party sources and has not been independently verified. OZ Minerals financial results are reported under International Financial Reporting Standards (IFRS). This presentation also includes certain non-IFRS measures including Underlying EBITDA, Underlying EBIT and Underlying NPAT. These measures are presented to enable understanding of the underlying performance of the Company without the impact of non-trading items such as impairment, impairment reversal and litigation settlement expense. Non-IFRS measures have not been subject to audit or review. All figures are expressed in Australian dollars unless stated otherwise. F
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OZ MINERALS • NOVEMBER 2009 • PAGE 3 OZ MINERALS • PAGE 3
1.LATEST NEWS 2.COMPANY OVERVIEW
PROMINENT HILL CARRAPATEENA
3. WHY INVEST
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OZ MINERALS • PAGE 5
Malu Open Pit Stage 2 complete, south wall remediation completed, waste removal program advancing. Ankata Underground Strong performance continues – design production achieved, record performance in Q3 2013. Malu Underground Positive new drill results from the newly identified Dolomite domain (detailed on p 20 of this presentation). Carrapateena Further results returned from Khamsin prospect, near Carrapateena, (detailed on p 27-28 of this presentation).
LATEST NEWS OPERATIONS
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OZ MINERALS • PAGE 6
Revenue and earnings drivn by a period of lower production at Prominent Hill and lower commodity prices:
• Revenue $316.2 million • Underlying EBITDA* $50.0 million • Underlying net loss* $36.1 million • Net loss after tax $268.0 million
Asset write down of $231.9 million (net of tax)
Cash balance $432.9 million (30 June 2013)
No drawn debt
Dividend – 10 cents per share ($30.3 million),
* See p 2 of this presentation for information regarding non-IFRS measures
LATEST NEWS HALF YEAR FINANCIAL RESULTS TO 30 JUNE 2013
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OZ MINERALS • NOVEMBER 2009 • PAGE 7 OZ MINERALS • PAGE 7
2. COMPANY OVERVIEW Market Capitalisation ~ $1.3 billion
Issued Share Capital 303 million
Shareholders ~ 68,400 shareholders
Institutional 73%
Retail 27%
Australian 58%
Offshore 42%
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OZ MINERALS • PAGE 8
Prominent Hill copper operation • In production since 2009. • Potential new underground
development in 2014.
Carrapateena • Significant new IOCG copper
deposit.
Gawler Craton
OZ MINERALS MAJOR ASSETS
Prominent Hill
Significant copper asset, strong future cash flows Cash Balance $432.9 million at 30 June 2013, no drawn debt Carrapateena Large copper resource in pre-feasibility, plus exploration discovery at Khamsin Liquid Investments Incl ~ 19% of Sandfire Resources, ~39% of Toro Energy
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OZ MINERALS • PAGE 10
South Australia is a favourable mining jurisdiction and Prominent Hill is well located with respect to road and rail, power and water. Export route to Asian and European markets via Port Adelaide. Historical production of ~100,000t/a copper.
PROMINENT HILL LOCATION
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OZ MINERALS • PAGE 11
Deposit Iron-Oxide copper gold Haematite breccia hosted
Mine Malu Open Pit and Ankata Underground SLOS underground mine.
Work underway to extend mine life with Malu Underground
Plant Crush, grind, flotation Nameplate 8Mtpa Operating at 9–10Mtpa
Workforce Approximately 1500 including contractors 80% from South Australia
2013 production guidance:
Contained copper 82,000t to 88,000t Contained gold 120,000oz to 130,000oz
C1 cost guidance 2013 US$1.65–US$1.80/lb
PROMINENT HILL COPPER GOLD OPERATION
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OZ MINERALS • PAGE 12
PROMINENT HILL SITE
Waste Dumps
Pit
TAILINGS STORAGE FACILITY
OPEN PIT
ROM PAD
PROCESSING PLANT
VILLAGE
ANKATA DEPOSIT AREA
NORTHERN WASTE DUMP
SOUTHERN WASTE DUMP
MALU UNDERGROUND AREA
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OZ MINERALS • PAGE 13
*remains subject to drilling results and board approval
ANKATA UNDERGROUND MINE
MALU OPEN PIT MINE
POTENTIAL NEW UNDERGROUND MINE – MALU UNDERGROUND*
PROMINENT HILL MINING AREAS
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OZ MINERALS • PAGE 14
• 2013 is a year of peak waste movement • Strip ratio forecast to decline steadily thereafter • Cash flow generation potential from operations increases year on year as mining activity decreases
PROMINENT HILL 2013 PEAK YEAR OF WASTE STRIPPING – OUTLOOK IMPROVING SIGNIFICANTLY
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OZ MINERALS • PAGE 15
2007 2008 2009 2010 2011 2012 2013
Ankata mineralisation discovered
Exploration programs and studies to define Ankata deposit completed
Board approval to develop the project
Access decline successfully reaches Ankata ore body
First ore achieved through stoping
Commencement of full production rates
Addition of 2 years mine life
ANKATA UNDERGROUND SUCCESSFUL PROJECT EXECUTION
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OZ MINERALS • PAGE 16
Stope scheduling, Ankata underground mine
Mining method: sub level open stoping Reserve grade 2% copper Mining rate ~1.2Mtpa
ANKATA UNDERGROUND MINE
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OZ MINERALS • PAGE 17
• Planned copper production to be higher in H2 (particularly the last quarter)
PROMINENT HILL LATEST PRODUCTION STATISTICS
Prominent Hill Production Statistics Mar 13 Qtr Jun 13 Qtr
Mined (Tonnes) Malu Ore 2,336,953 1,769,398
Ankata Ore 289,613 303,247
Waste 15,962,835 18,454,484
Mined Grade Malu Copper (%) 0.67 0.67
Ankata Copper (%) 1.95 1.87
Gold (G/T) 0.67 0.53
Ore Milled (Tonnes) 2,355,995 2,365,159
Milled Grade Copper (%) 0.99 0.84
Gold (G/T) 0.55 0.55
Recovery Copper (%) 87.8 87.1
Gold (%) 75.9 74.2
Copper Concentrate Produced
Tonnes 42,539 38,554
Contained Metal In Concentrates
Copper (Tonnes) 20,474 17,379
Gold (Oz) 31,790 31,018
Total Concentrate Sold (Dm Tonnes) 25,595* 55,781
• Ore mined was lower due to overburden slip remediation work
• Lower grade ore mined from Malu open pit and Ankata in line with life of mine plan. Grades to increase in second half
• Material movement higher in Q2 with additional equipment and improved productivity. Planned to increase further in H2
• Milled grade planned to increase in H2
• Ankata continues to perform well and improve each quarter
* Figures slightly different to previously reported due to final adjustments
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OZ MINERALS • PAGE 18
Open-pit productivity maximisation: • Equipment utilisation • Wet weather delay
minimisation • Truck availability
improvements • Crew change • Load and haul
scheduling
Major contracts successfully renegotiated Others currently under review
Staff restructuring and relocation of site services to lower cost locations
Regional exploration at Prominent Hill stopped in 2013
Rapid assessment and exit from projects based on milestones, e.g. Copaquire and Centenarito
Revised focus on expenditure and identification of key projects
Delaying spend on exploration decline and associated preparatory work on site
Reduced drilling budget for 2013
Pay freeze 2013
Bonus reduction
Equity scheme cut
Senior approach made to all service providers on cost reduction initiatives
PROMINENT HILL
CARRAPATEENA
COMPANY WIDE
FOCUS ON COSTS 2012 ONWARDS
EXPLORATION
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OZ MINERALS • PAGE 19
Staged drilling program.** Commenced late 2012. Potential production from late 2014 depending on outcomes of drilling. *Subject to the outcomes of drilling and board approval **Drilling forecast subject to change to meet operational and strategic requirements.
MALU UNDERGROUND PROJECT POTENTIAL NEW UNDERGROUND MINE*
2012 Mineral Resource Categories
FINAL PIT SHELL
COVER SEQUENCE
MINED
FROM HANGING WALL
2013
2014
2014
E W SURFACE
ANKATA DECLINE
MALU DECLINE
Malu Underground Project Current Focus
2013
FROM FOOTWALL
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OZ MINERALS • PAGE 20
MALU UNDERGROUND PROJECT LATEST RESULTS* – CONFIRMING HIGH GRADE ZONES SELECTED RESULTS SHOWN
View Looking East
0 50m
LEGEND
*Results received post OZ Minerals June Quarterly report.
Intercepts are length weighted down-hole, ≥0.5% Cu with ≤2m consecutive down-hole internal dilution, widths reported may not reflect true widths, please refer to the Prominent Hill 2012 Mineral Resource Explanatory and notes for further explanation on quality assurance. A complete listing of Malu mineralised intercepts received following the quarterly report release can be found on p 36 of this presentation. ^Intercepts inside final Malu Open Pit design.
Final Pit Design
Pit Shell Malu Development
Resource targets
Holes drilled in Q1 2013
0.5 - 1.5% Cu
1.5 – 5% Cu
+5 % Cu
PH13GC6000 17.8m @ 2.9% Cu, 0.3 g/t Au, from 226m & 19m @ 1.1%Cu, 0.3g/t Au from 252m (PHSZ domain) PH13GC6005
53.1m @ 3.3% Cu, 0.7 g/t Au, from 344.9m (Dolomite domain)
PH13GC6029 26m @ 2.1% Cu, 0.3 g/t Au, from 159m (340 domain)
PH13GC5947^ 25.7m @ 1.7% Cu, 0.4 g/t Au, from 121.7m (340 domain)
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OZ MINERALS • PAGE 22
Carrapateena is another large iron oxide copper gold deposit, similar to Prominent Hill, located 300km to its southeast. OZ Minerals is undertaking a pre-feasibility study on the project.
CARRAPATEENA LOCATION
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OZ MINERALS • PAGE 23
Acquired in May 2011 for US$250 million.
Tenement package over 3,620sq km, including newly acquired Straits Tenements.
Large Iron Oxide Copper Gold deposit – similar to Prominent Hill.
The current Indicated and Inferred Resources of 292Mt at 1.29% Cu, 0.48g/t Au (0.7% Cu cut off).
Discovery at Khamsin, 10 km NW of Carrapateena
Pre-feasibility study underway, due for completion H1 2014.
CARRAPATEENA A SECOND COPPER – GOLD DEPOSIT IN SOUTH AUSTRALIA
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OZ MINERALS • PAGE 24
CARRAPATEENA RESOURCE INCREASED SIGNIFICANTLY IN 2012
2012 INDICATED & INFERRED RESOURCES 292Mt @ 1.29% Cu, 0.48 g/t Au
2011 INFERRED RESOURCES
250m
Mineralisation from 470m
Chalcopyrite, bornite mineralisation
Based on 93 drill holes
Infill exploration drilling program has better defined the higher grade bornite zones - now one bornite zone
These wireframes show the interpreted limits of the Chalcopyrite envelope and Bornite zones. Area approximates to a 0.3% Cu cut-off grade.
Resource classification is shown in ‘stylised’ view at Section 737800mE with +/-50m window.
Chalcopyrite Zone
Upper Bornite Zone
Lower Bornite Zone
Bornite Zone
700m 1600
m
203Mt @ 1.31 % Cu, 0.56 g/t Au
Indicated Resources Inferred Resources Exploration Target
LEGEND
Section 737800mE Looking West F
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OZ MINERALS • PAGE 25
The Scenario below is conceptual only and is based on a scoping study* which has been undertaken and which examines the potential for a large scale long life copper operation. Mining • Potential multiple lift block cave mine with
production rate of 10-15Mtpa, (potential for some sub-level open stoping).
• Dual declines for access and production developed by tunnel boring machine
• Possible 20+ years mine life Processing • Production of a high grade copper concentrate at
approximately 90% copper recovery and 70% gold recovery
• Potential production of 100-110 ktpa Cu and 100-130 kozpa Au
CARRAPATEENA PROJECT CONCEPT
*A Scoping Study provides direction for future studies but has low accuracy. Further drilling, geotechnical, metallurgical and study work are required to demonstrate the viability of this project before a decision to mine can be made with any certainty. This is expected to be after a pre-feasibility and feasibility study are complete in 2015.
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OZ MINERALS • PAGE 26
Carrapateena
Scale of various global block caving operations
CARRAPATEENA WITHIN THE CURRENT RANGE OF CAVING EXPERIENCE
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OZ MINERALS • PAGE 27
Carrapateena (Indicated Resource)
Residual Gravity Anomaly
2.5 km OZ Minerals Khamsin Drill Holes
6,545,000 mN
730,000 mE 735,000 mE 740,000 mE
Footprint of Copper Mineralisation at 0.7% Cu Cut-off
Khamsin
DD13KMS014 DD12KMS003
DD13KMS006 DD13KMS008 DD13KMS015
DD13KMS005 DD13KMS007
DD12KMS004 DD13KMS010 DD13KMS013
DD13KMS009 DD13KMS012
DD13KMS011
Significant mineralisation discovered in late 2012 8 holes drilled to date New holes shown in red Full table of results to date on p 37
CARRAPATEENA NEW DISCOVERY AT KHAMSIN
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** Intervals calculated using a 0.7% Cu cut-off grade, are down hole length-weighted and include up to 4m internal dilution.
* Intervals calculated using a 0.1% Cu cut-
off grade, are down hole length-weighted with an unlimited internal dilution.. DD13KMS009
DD13KMS011 DD13KMS010
DD13KMS011* 662m @ 0.57% Cu, 0.09 g/t Au, from 888m
DD13KMS009* 708m @ 0.49% Cu, 0.11 g/t Au, from 950m
DD13KMS010** 41m @ 2.64% Cu, 0.46 g/t Au, from 835m
DD13KMS010* 840m @ 0.51% Cu, 0.14 g/t Au, from 747m
DD13KMS009** 96m @ 1.21% Cu, 0.25 g/t Au, from 1470m
Looking West
True vertical depth approximately ~560m from surface
Latest significant intersection from new holes DD13KMS009 DD13KMS010 DD13KMS011 Continue to indicate a large copper gold system Chalcocite, bornite and chalcopyrite intersected
KHAMSIN LATEST SIGNIFICANT INTERSECTIONS
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OZ MINERALS • PAGE 30
Significant asset - in copper and a low risk jurisdiction Improving operational outlook – remediation of south wall complete, higher material movement and grades expected in H2 2013 (particularly Q4), cash flow generation from operations improves as mining activity required reduces in open pit
Growth projects Work on potential additional production from Malu Underground progressing Large copper resource at Carrapateena, pre-feasibility underway to be completed in 2014 New regional discovery near Carrapateena at Khamsin
Strong cash balance No drawn debt $432.9 million at 30 June
Disciplined approach to capital allocation More than $1 billion returned to shareholders since 2010 $535million in dividends, $389million capital return, $200milllion buy-back Acquisition of Carrapateena for US$250m Acquisition of ~19% of Sandfire for ~$125million A large number of M&A opportunities assessed, value destroying opportunities not pursued
WHY INVEST F
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OZ MINERALS • NOVEMBER 2009 • PAGE 31 OZ MINERALS • PAGE 31
APPENDICES
OZ MINERALS • PAGE 31
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PRODUCTION
2011 Full Year Mar '12 Qtr Jun '12 Qtr Sep '12 Qtr Dec '12 Qtr
2012 Full Year Mar '13 Qtr Jun '13 Qtr
Mined
Malu Ore 11,333,854 1,945,417 1,699,331 1,712,058 1,972,624 7,329,430 2,336,953 1,769,398
Ankata Ore 17,653 76,559 130,441 199,560 424,965 289,613 303,247
Waste Tonnes 57,683,667 16,102,251 17,755,300 19,442,709 19,709,691 73,009,951 15,962,835 18,454,484
Mined Grade
Malu Copper % 1.14 1.11 1.27 1.19 0.84 1.04 0.67 0.67
Ankata Copper % 3.16 2.74 3.19 2.73 2.89 1.95 1.87
Gold G/T 0.51 0.49 0.53 0.49 0.57 0.52 0.67 0.53
Silver G/T 2.62 2.88 3.02 3.51 3.00 3.10 2.68 2.76
Ore Milled 9,891,819 2,460,397 2,425,495 2,433,836 2,328,597 9,648,325 2,355,995 2,365,159
Milled Grade
Copper % 1.20 1.24 1.20 1.18 1.12 1.19 0.99 0.84
Gold G/T 0.65 0.63 0.59 0.60 0.57 0.60 0.55 0.55
Silver G/T 2.52 3.15 2.71 3.09 3.25 3.05 3.13 2.77
Recovery
Copper % 90.5 89.2 87.7 89.6 89.1 88.9 87.8 87.1
Gold % 78.0 77.9 75.4 75.4 75.0 76.0 75.9 74.2
Silver % 76.4 77.9 76.1 75.7 75.6 76.3 76.3 73.2
Copper Conc Produced
Tonnes 204,225 55,322 51,466 49,633 45,934 202,355 42,539 38,554
Concentrate Grade
Copper % 52.8 49.1 49.6 51.9 50.7 50.3 48.1 45.1
Gold G/T 24.4 21.9 20.8 22.0 21.9 21.6 23.2 25.0
Silver G/T 93.3 109.1 97.2 114.7 124.7 111.0 132.3 124.5
Contained Metal in Concentrates
Copper Tonnes 107,744 27,182 25,521 25,738 23,296 101,737 20,474 17,379
Gold OZ 160,007 38,887 34,475 35,111 32,273 140,746 31,790 31,018
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OZ MINERALS • PAGE 33
CI COSTS
Mar Qtr 12*
Jun Qtr 12*
Sep Qtr 12*
Dec Qtr 12*
Dec Ytd 12*
Mar Qtr 13**
Jun Qtr 13**
Mining Costs 153.5 174.9 215.5 264.7 200.0 304.0 354.5 Deferred Mining (45.1) (75.7) (93.3) (103.7) (78.3) (78.9) -206.6 Ore Inventory Adj 12.4 26.2 7.3 (2.7) 11.1 (39.4) 29.8
Total Mining Costs 120.8 125.5 129.5 158.3 132.8 185.7 177.7
Total Site Processing Costs 46.1 49.8 47.3 53.4 49.0 62.3 73.0 Tc and Transport 29.8 29.7 33.6 37.9 32.6 40.3 40.8 Net By-product Credit (118.5) (105.6) (110.1) (118.4) (113.1) (125.6) -122.3 Other Direct Cash Costs 18.7 19.1 17.6 19.7 18.7 22.3 25.5
Total C1 Costs 96.9 118.5 117.9 150.9 120.0 185.0 194.7 Royalties 7.0 6.6 6.5 6.7 6.7 6.8 6.2 Other Indirect Costs 23.9 30.3 29.4 25.8 27.3 11.5 14.4
Total Cash Costs 127.8 155.4 153.8 183.4 154.0 203.3 215.3 DD&A 66.0 67.7 68.3 88.9 72.3 132.9 140.1 Other Non Cash Costs 2.9 3.5 1.3 0.5 2.1 (13.1) 0.6
Total Production Costs 196.7 226.6 223.4 272.8 228.4 323.1 356.0
* As disclosed (i.e. excludes impact of IFRIC20) accounting interpretation. ** Includes impact of IFRIC20 accounting interpretation.
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OZ MINERALS • PAGE 34
RESOURCES & RESERVES AS AT 30 JUNE 2012
1. The cut-off grade of 0.7% Cu as used by the vendors was deemed appropriate for 2012 estimates. 2. CuEq refers to copper equivalent and is calculated as Cu + 0.6* Au. See the Carrapateena Mineral Resource Explanatory Notes as at 31 October 2012, available at www.ozminerals.com/operations/resources--reserves.html, for further details of the derivation of this formula.
Competent Persons Statement * The information set out in this table is a summary of information relating to Prominent Hill Mineral Resources set out in the Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2012 available at www.ozminerals.com/operations/resources--reserves.html. This information has been compiled by John Penhall and Andrew Loreck, who are both full time employees of OZ Minerals and members of Australasian Institute of Mining and Metallurgy (AusIMM). This information has been approved for release in the form and context in which it appears by Mr Jim Hodgkison, who is a full time employee of OZ Minerals and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. ** The information set out in this table is a summary of information relating to Carrapateena Mineral Resources set out in the Carrapateena Mineral Resource Explanatory Notes as at 31 October 2012 available at www.ozminerals.com/operations/resources--reserves.html. This information has been compiled by Stuart Masters, who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) (108430). Stuart Masters is employed by CS-2 Pty Ltd and is a consultant to OZ Minerals. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC 2004). Stuart Masters consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
RESOURCES – SUMMARY RESERVES – SUMMARY
Competent Persons Statement The information set out in this table that refers to Prominent Hill Ore Reserves is a summary of information relating to Ore Reserves set out in the Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2012, available at www.ozminerals.com/operations/resources--reserves.html. This information has been approved for release in the form and context in which it appears by Mr Justin Taylor, who is a full time employee of OZ Minerals and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.
Prominent Hill Copper Mineral Resource - June 2012*
Category Tonnes (Mt) Cu (%) Au (g/t) Ag (g/t) Cu (kt) Au (Moz) Ag (Moz)
Measured 21.3 1.62 0.5 4.1 347 0.3 2.8
Indicated 76.4 1.40 0.5 3.2 1,068 1.3 7.8
Inferred 112.6 1.02 0.4 2.3 1,154 1.6 8.3
Total 210.4 1.22 0.5 2.8 2,569 3.2 18.8
Prominent Hill Gold Mineral Resource - June 2012*
Category Tonnes (Mt) Cu (%) Au (g/t) Ag (g/t) Cu (kt) Au (Moz) Ag (Moz)
Measured 10.1 0.10 1.0 1.9 10 0.3 0.6 Indicated 19.1 0.08 1.6 1.2 16 1.0 0.7 Inferred 25.3 0.07 1.6 0.8 16 1.3 0.6 Total 54.4 0.08 1.5 1.1 42 2.6 2.0
Carrapateena Mineral Resource - October 20121**
Category Estimate Tonnage (Mt) Cu (%) Au (g/t) CuEq (%)2 U ppm Ag (g/t)
Indicated 2011 - 2012 202 1.43 0.56 1.77 227 6.2 Inferred 2011 203 1.31 0.56 1.65 229 6.0 2012 90 0.96 0.30 1.14 162 3.6 Total 2011 203 1.31 0.56 1.65 229 6.0 2012 292 1.29 0.48 1.58 207 5.4
Malu Open Pit Ore Reserves - June 2012
Classification Tonnes Cu Cu Au Au Ag Ag
(Mt) (%) (kt) (g/t) (koz) (g/t) (koz) Copper Ores Proved 20.9 1.4 284 0.4 298 3.5 2,358 Probable 23.7 1.3 296 0.5 352 3.2 2,475 Gold Ores Proved 10.3 0.1 10 1.0 329 1.8 611 Probable 7.0 0.1 4 1.1 258 1.1 251 All Ores Proved 31.2 0.9 294 0.6 626 3.0 2,969 Probable 30.8 1.0 300 0.6 611 2.8 2,726 Total 62.0 1.0 594 0.6 1,237 2.9 5,695
Ankata Ore Reserves - June 2012
Classification Tonnes Cu Cu Au Au Ag Ag
(Mt) (%) (kt) (g/t) (koz) (g/t) (koz) Proven 1.4 2.2 32 0.2 9 5.1 237 Probable 6.4 1.9 122 0.4 82 3.0 616 Total 7.8 2.0 154 0.4 91 3.4 853
Prominent Hill Ore Reserves - June 2012
Classification Tonnes Cu Cu Au Au Ag Ag
(Mt) (%) (kt) (g/t) (koz) (g/t) (koz) Proven 32.6 1.0 326 0.6 635 3.1 3,206 Probable 37.2 1.1 422 0.6 693 2.8 3,342 Total 69.8 1.1 748 0.6 1,328 2.9 6,548 F
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OZ MINERALS • PAGE 35
Prominent Hill - Regional (Expensed)
Prominent Hill - Underground Resource Drilling (Capitalised) included in Malu UG
Carrapateena - Regional (Expensed)
Global - Project Generation (Expensed)
$6m $4m
$12m
$19m
$41 million exploration budget – reduced from $58 million
Resource drilling at Malu Underground to continue
Exploration drilling in the second half of 2013 to be focused on regional drilling at Carrapateena
EXPLORATION BUDGET FY 2013
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OZ MINERALS • PAGE 36
MALU UNDERGROUND DRILL RESULTS RECEIVED POST JUNE QUARTERLY
Holeid From Length Cu % Au ppm Domain
PH13GC5945 143.7 14.3 3.1 0.6 340
PH13GC5945 230 14.9 2.7 0.5 PHSZ
PH13GC5945 255 14 1.6 0.3 PHSZ
PH13GC5945 368.2 7.8 2.1 1.3 Dolomite
PH13GC5945 387 9.3 1.6 0.1 Dolomite
PH13GC5945 413.7 3.3 1.5 0.2 HWFZ
PH13GC5947^ 121.7 25.7 1.7 0.4 340
PH13GC5947^ 159 5.1 1.5 0.3 340
PH13GC5947^ 234 9.3 1.9 0.4 PHSZ
PH13GC5947^ 256.1 15.4 1.5 0.3 PHSZ
PH13GC5947 344 13 0.9 0.2 Dolomite
PH13GC5958 No significant
PH13GC5963 153.6 4.6 3.3 0.6 340
PH13GC5963 163.3 4 1.1 0.4 340
PH13GC5963 243.4 15.7 2 0.3 PHSZ
PH13GC5963 266.1 13.6 2.4 0.2 PHSZ
PH13GC5963 368.8 12.8 6.5 0.6 Dolomite
PH13GC5963 447 2.3 1.9 0.1 HWFZ
PH13GC5967 No significant
PH13GC5968 125 22 1.5 0.4 340
PH13GC5968 236.8 5.4 3 0.54 PHSZ
PH13GC5968 254.7 14.5 1.3 0.4 PHSZ
PH13GC5981 161 15 1.2 0.2 340
PH13GC5981 285.2 11.8 1.5 0.4 PHSZ
PH13GC5982 258.7 9 2.2 0.2 PHSZ
PH13GC5982 422 3 1 0 HWFZ
PH13GC5995 139 11.2 2.1 0.7 340
Holeid From Length Cu % Au ppm Domain
PH13GC5995 239.6 4.4 2.1 0.5 PHSZ
PH13GC5995 262.7 10.3 1.5 0.3 PHSZ
PH13GC5995 359 3.3 1.1 1.7
PH13GC5995 406 3 2 0.5 Dolomite
PH13GC5997 179.8 10.5 1.3 0.4 340
PH13GC5997 203 4 2.6 0.5 340
PH13GC6000 145.5 14.5 2.3 0.5 340
PH13GC6000 226 17.8 2.9 0.3 PHSZ
PH13GC6000 252 19 1.1 0.3 PHSZ
PH13GC6000 400 8.9 2 0.4 Dolomite
PH13GC6000 423 4 0.8 0.1 HWFZ
PH13GC6000 433 2.55 0.8 0.1 HWFZ
PH13GC6003 186 5 1.1 0.6 340
PH13GC6005 152 17 1.8 0.4 340
PH13GC6005 271 12 0.9 0.2 PHSZ
PH13GC6005 344.9 53.1 3.3 0.7 Dolomite
PH13GC6006 146.7 11 3.3 0.6 340
PH13GC6006 240 8 2.2 0.3 PHSZ
PH13GC6006 251 4.8 2.7 0.5 PHSZ
PH13GC6006 260 13 5.1 0.3 PHSZ
PH13GC6006 386 7 2.9 0.5 Dolomite
PH13GC6006 422 8 1.2 0.1 HWFZ
PH13GC6029 159 26 2.1 0.3 PHSZ
PH13GC6029 190.5 5.5 1.1 0.4 PHSZ
PH13GC6029 281 14 1.3 0.3 PHSZ
PH13GC6029 370 4 1.3 0.2 Dolomite
PH13GC6029 398 2.7 1.1 0.4 Dolomite
PH13GC6030 164.7 8.2 1.4 0.6 PHSZ
PH13GC6030 290.1 4.9 4.3 0.2 PHSZ Intercepts are length weighted down-hole, ≥0.5% Cu with ≤2m consecutive down-hole internal dilution, widths reported may not reflect true widths, please refer to the Prominent Hill 2012 Mineral Resource Explanatory and notes for further explanation on quality assurance. ^Intercepts inside final Malu Open Pit design. NSR=No significant intersection
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OZ MINERALS • PAGE 37
KHAMSIN DRILL RESULTS TO DATE
Hole ID Dip
Azimuth Downhole Interval Vertical Interval Copper (%)
Gold (g/t) (MGA94_53) From To Length From To Length
Released previously DD12KMS003* -55 174 1005 1446 441 839 1205 366 0.43 0.08
Released previously DD12KMS003* -55 174 1003 1573 570 837 1313 476 0.39 0.08
Released previously DD12KMS003** -55 174 1005 1032 27 839 861 22 1.48 0.13
Released previously DD13KMS004W3* -74 326 573 1205 632 554 1161 606 0.36 0.07
Released previously DD13KMS004W3* -74 326 1380 1822 442 1332 1764 430 0.49 0.09
Released previously DD13KMS004W3** -74 326 1030 1066 36 993 1027 34 1.04 0.31
Released previously DD13KMS004W3** -74 326 1386 1434 49 1337 1383 46 1.01 0.07
Released previously DD13KMS006* -69 357 909 1243 334 866 1182 316 0.75 0.23
Released previously DD13KMS006* -69 357 1033 1141 108 982 1084 101 0.92 0.40
Released previously DD13KMS006** -69 357 613 647 34 588 621 31 1.61 0.40
Released previously DD13KMS008* -58 315 747 1448 701 629 1228 580 0.83 0.24
Released previously DD13KMS008** -58 315 777 840 63 654 707 52 2.75 0.16
Released previously DD13KMS008** -58 315 851 892 41 718 752 33 1.78 0.08
Released previously DD13KMS008** -58 315 1188 1289 101 1011 1096 83 1.31 0.91
New result DD13KMS009* -59 234 950 1658 708 843 1468 623 0.49 0.11
New result DD13KMS009** -59 234 991 1001 10 879 887 8 2.17 0.11
New result DD13KMS009** -59 234 1436 1450 14 1272 1284 11 1.15 0.38
New result DD13KMS009** -59 234 1470 1566 96 1302 1386 83 1.21 0.25
New result DD13KMS010* -61 314 747 1587 840 665 1439 760 0.51 0.14
New result DD13KMS010** -61 314 835 876 41 743 779 36 2.64 0.46
New result DD13KMS010** -61 314 913 925 12 813 823 10 1.51 0.56
New result DD13KMS010** -61 314 936 955 19 834 850 16 0.99 0.31
New result DD13KMS011W1* -55 247 888 1550 662 753 1309 548 0.57 0.09
* 0.1 cut-off unlimited dilution ** 0.7 cut-off 4m dilution
*** 0.7 cut-off unlimited dilution **** 0.45 cut-off unlimited dilution
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OZ MINERALS • PAGE 38
A$M Jun-12* Jun-13
Revenue 514.8 316.2 Cost of goods sold (234.5) (236.3)Net foreign exchange gain 2.2 32.1 Exploration expense (47.7) (37.1)Gain on sale of Cambodian assets 18.8 -Other expenses (22.3) (24.9)
Underlying EBITDA 231.3 50.0
Depreciation and amortisation (80.4) (111.0)Underlying EBIT + 150.9 (61.0)
Net financing income 11.4 4.9 Income tax (expense)/benefit (42.8) 20.0 Underlying NPAT 119.5 (36.1)Asset write down (net of tax) - (231.9)
119.5 (268.0)* Restated for IFRIC 20
NPAT
HALF YEAR FINANCIAL RESULTS TO 30 JUNE 2013 INCOME STATEMENT
• Lower copper production and lower commodity prices are the primary drivers of Underlying NPAT loss.
• Significant focus on cost reduction, including contract and supplier renegotiation and review of operational and support roles
Mining costs reflect higher open pit mining activity and inclusion of Ankata costs, offset by higher deferral as a result of IFRIC 20
Decrease in exploration due to reduction at Prominent Hill
Decrease in corporate and support costs, offset by inclusion of insurance receipt in 2012
After tax asset write down
Lower production and commodity prices
Increased depreciation due to deferred waste and Ankata
+ See page 2 of this presentation regarding non IFRS measures
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OZ MINERALS • PAGE 39
-200
-150
-100
-50
0
50
100
150
200
120 (84) 30 66 (102) 45 (56) (30) (21) 63 (36)
2012Underlying
NPAT
Commoditypricing
FX SalesVolume
NonCash
Cash Ankata CambodiaSale/Other
income
IncomeTax
2013Underlying
NPAT
A$M Variance Analysis - Underlying NPAT H1-2012 vs. H1-2013
MARKET DRIVEN CONTROLLABLE
Reduction in copper and gold pricing, realised pricing will be in-line with LME copper price
Lower grades mined from open pit resulting in lower production and sales
11% decrease in A$/US$ over H1 2013
Increased waste deferral and positive stock adjustment offset by higher depreciation
Higher open pit mining activity offset by reduced exploration spend, other operating costs were flat
Inclusion of new underground operation (Ankata)
2012 included gain on sale of Cambodian assets
HALF YEAR FINANCIAL RESULTS TO 30 JUNE 2013 UNDERLYING NPAT
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OZ MINERALS • PAGE 40
200
400
600
800
659 67 (45) (112) (60) 18 (34) 494 (61) 433
Cash BalanceDecember
Prom HillOperations
Movement inDebtors
/Creditors
Deferred Waste Growth andSustaining
Capital
Interest/ Foreignexchange/Corporate
Exploration Cash beforeShareholder
returns
MarchDividend
Cash BalanceJune
(A$M) Cash flow for the half year - June 2013
• Sustaining $12m • Carrapateena (TBM) $8m • Malu UG development $15m • Ankata development $25m
• Prominent Hill $3m • Global/Other $2m • Carrapateena $31m • Cambodia ($3m) Underlying
operation cash positive despite low grades
Timing in nature, debtors realised in Q3
HALF YEAR FINANCIAL RESULTS TO 30 JUNE 2013 CASHFLOW
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OZ MINERALS • PAGE 41
A$M
ConsolidatedDec-12*
ConsolidatedJun-13
AssetsCash 659.0 432.9 Receivables 171.7 205.1 Inventories 252.3 162.3 Prepayment & Current tax asset 11.0 8.6 Investments & exploration assets 568.2 447.0 PP&E and leased equipment 1,423.4 1,254.5 Total Assets 3,085.6 2,510.4
LiabilitiesCreditors 108.3 96.3 Net deferred tax liability 162.1 44.1 Provisions 29.3 32.1 Total Liabilities 299.7 172.5 Net Assets 2,785.9 2,337.9 * Restated for IFRIC 20
• Significant liquidity and flexibility within balance sheet
Decrease in cash balance from December due to investment in waste mining and timing of sales receivables
Decreased asset base as a result of asset write down
Reduction due to lower market valuation of Sandfire
Tax effect of asset write down results in lower DTL
Lower inventories due to asset write down of low grade gold ore on ROM
High debtor value released as cash in Q3
HALF YEAR FINANCIAL RESULTS TO 30 JUNE 2013 BALANCE SHEET
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COMPETENT PERSONS STATEMENT Within this presentation are references to a summary of information relating Prominent Hill Mineral Resources. The Prominent Hill Mineral Resources are set out in the Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2012. This information has been compiled by John Penhall and Andrew Loreck who are both full time employees of OZ Minerals and members of Australasian Institute of Mining and Metallurgy (AusIMM).
Drilling results relating to Prominent Hill has been approved for release in the form and context in which it appears by Mr Colin Lollo who is a full time employee of OZ Minerals and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a competent person as defined in the 2004 edition of the Australasian Code For Reporting Of Exploration Results, Mineral Resources and Ore Reserves.
Information in this presentation which refers to Prominent Hill Ore Reserves is a summary of information relating to Ore Reserves as set out in the Prominent Hill Mineral Resources and Ore Reserves Statement as at 30 June 2012. This information has been approved for release in the form and context in which it appears by Mr Justin Taylor who is a full time employee of OZ Minerals and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a competent person as defined in the 2004 edition of the Australasian Code For Reporting Of Exploration Results, Mineral Resources and Ore Reserves.
Within this presentation are references to exploration results relating to Carrapateena are based on information compiled by Mr Anthony Houston who is a full-time employee of OZ Minerals, is a member of the Australian Institute of Geoscientists and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as a competent person as defined by the JORC code (2004). Mr Houston has consented to the inclusion of the material in the form and context in which it appears.
The information in this presentation which refers to Carrapateena Mineral Resources is based on information compiled by Stuart Masters who is a member of the Australasian Institute Of Mining And Metallurgy (AusIMM) (108430). Stuart Masters is employed by CS-2 Pty Ltd and is a consultant to OZ Minerals. He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the 2004 edition of the Australasian Code For Reporting Of Exploration Results, Mineral Resources And Ore Reserves (JORC 2004). Stuart Masters consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Stuart Masters Bsc (Geology), CFSG, has over 26 years of relevant experience as a geologist including 9 years in iron-oxide-copper-gold style deposits. Stuart Masters has visited site on many occasions since OZ Minerals acquired the project. All other references to exploration results within this presentation are based on information compiled by Mr Anthony Houston Bsc who is a full-time employee of OZ Minerals, a member of the Australian Institute Of Geoscientists and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as a competent person as defined by the JORC Code (2004). Mr Houston has consented to the inclusion of the material in the form and context in which it appears within this presentation to exploration results relating to Prominent Hill and Carrapateena.
For full details of the 2012 Prominent Hill Mineral Resources and Ore Reserves Statement and details relating to the 2012 Carrapateena Mineral Resources Statement for 2012 go to http://www.ozminerals.com/operations/resources--reserves.html
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