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PRECIOUS METALS, DIAMONDS & GEMSTONESINVESTMENT SUMMIT
IRONMONGERS’ HALL, CITY OF LONDON ● WEDNESDAY, 6 APR 2011www.ObjectiveCapitalConferences.com
Global gold overviewGreg Kay – Commercial Director, Intierra Resource Intelligence
Global Gold Overview
IntierraLive – Resource Intelligence
Presented By: Greg Kay
Confidential to Intierra Pty Ltd
Intierra
• All figures are in US$
Current Reported Annual ProductionLargest gold mines in the world
Current Reported Annual ProductionMines producing more than 500koz a year
Current Reported Annual ProductionMines producing more than 100koz a year
Current Reported Annual ProductionTotal of mines that produced at least 10koz
•~68M oz Gold produced (2010 fy)
•@ US$1,300 an ounce
•US$88.4 billion worth of gold.
•Top 5 Regions:Australasia (17 Mozpa)
Africa (16 Mozpa)
South America (13 Mozpa)
North America (12 Mozpa)
Europe ( 9 Mozpa)
Mines due to commence productionSouth America
South America is expected to add 4.7 Moz/year worth of new mines before 2016, 70 Moz of gold production over the life of those mines
Mines due to commence productionNorth America
North America is expected to add 4.4 Moz/year worth of new mines before 2016, 99 Moz of gold production over the life of those mines
Mines due to commence productionAfrica
Africa is expected to add 3.4 Moz/year worth of new mines before 2016, 46 Moz of gold production over the life of those mines
Mines due to commence productionEurope
Europe is expected to add 2.6 Moz/year worth of new mines before 2016, 44 Moz of gold production over the life of those mines
Mines due to commence productionAustralasia
Australasia is expected to add 1.6 Moz/year worth of new mines before 2016, 29 Moz of gold production over the life of those mines
Mines due to commence productionSouth East Asia
South East Asia is expected to add 901 Koz/year worth of new mines before 2016, 14 Moz of gold production over the life of those mines
Mines due to commence productionAsia/Russia
Asia/Russia are expected to add 515 Koz/year worth of new mines before 2016, 16 Moz of gold production over the life of those mines
The 8 largest new gold mines to come online in the near future:
Property Country CompanySTART YEAR
Annual Production
LOM Production
Natalka Russia OJSC Polyus Gold 2014 1 Moz 24 Moz
Cerro Casale Chile Barrick Gold Corporation 2014 840 Koz 17 Moz
Pascua-Lama Chile Barrick Gold Corporation 2013 750 Koz 16 Moz
Pebble United States Northern Dynasty Minerals Ltd. 2015 670 Koz 30 Moz
Kerr-Sulphurets Canada Seabridge Gold Inc. 2015 640 Koz 19 Moz
Pueblo ViejoDominican Republic Barrick Gold Corporation 2011 600 Koz 12 Moz
Angostura Colombia Greystar Resources Limited 2012 510 Koz 8 Moz
The largest companies to bring on new mines in the near future are:
Major contributors Additional Koz paReserves involved LOM Total
Barrick Gold Corporation 2,190 65 Moz 44 Moz
OJSC Polyus Gold 1,000 41 Moz 24 Moz
Goldcorp Inc. 980 13 Moz 13 Moz
Randgold Resources Limited 963 15 Moz 13 Moz
Ivanhoe Mines Ltd. 786 20 Moz 22 Moz
Yamana Gold Inc. 705 12 Moz 8 Moz
Kinross Gold Corporation 700 13 Moz 9 Moz
Northern Dynasty Minerals Ltd. 673 30 Moz
Xstrata plc 635 13 Moz
Seabridge Gold Inc. 634 30 Moz 19 Moz
Over the next 4 years new mines will contribute a further 16Moz per year of gold by 2014:
Production Commencing
Annual Production Reserves
Life of Mine Production
2011 3 Moz 55 Moz 37.5 Moz
2012 3.3 Moz 33 Moz 50.5 Moz
2013 4.6 Moz 75 Moz 73 Moz
2014 4.6 Moz 107 Moz 80.5 Moz
Maiden Resource Estimates in 2010Americas
Americas: 49 Moz of gold discovered in ore grading roughly 3.5 g/t
Maiden Resource Estimates in 2010Africa - Europe
Africa - Europe: 14.4 Moz of gold discovered in ore grading roughly 1.7 g/t
Maiden Resource Estimates in 2010Australia - Asia
Australia - Asia: 2.5 Moz of gold discovered in ore grading roughly 1.3 g/t
Resource Updates in 2010Americas
Americas: Resource updates for existing deposits increases known gold resources by 120 Moz
Resource Updates in 2010Africa - Europe
Africa - Europe: Resource updates for existing deposits increases known gold resources by 45 Moz
Resource Updates in 2010Australia - Asia
Australia - Asia: Resource updates for existing deposits increases known gold resources by 44 Moz