Golden Grove

July 2015

History of Golden Grove

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• Gossan Hill underground, Gossin Hill Open Pit and Scuddles Underground discovered.

• First production from Scuddles underground mine (capacity 800kt/a).

• Normandy Poseidon completes acquisition of Golden Grove from Australian

Consolidated Minerals.

• First production from Gossan Hill underground mine.

• Acquired by Newmont Australia Ltd.

• Sold to Oxiana Limited for A$265 million.

• Transferred to OZ Minerals with the merger of Oxiana and Zinifex.

• Minmetals acquires OZ Minerals assets with the exception of Prominent Hill.

• First production from Gossan Hill copper oxide open pit.

1990

1991

1997

2002

2005

2008

2009

1971 -1979

2012

Overview

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Location: Western Australia, Australia

Ownership: 100% MMG

Mine: Underground (sublevel open stope) &

Open Cut.

Throughput: 1.7 Mtpa, mine, crush, grind, float.

Product: Zinc concentrate, Copper concentrate,

Lead precious metals concentrate.

Mine Life 2021

64%

20%

9%

6% 1%

Copper Zinc Gold Silver Lead

2014 Revenue by commodity

Golden Grove – Site layout

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Geology – Volcanogenic Massive Sulfide (VMS)

deposit

5

Characteristics of VMS Deposits

Size

Camberwarra

Xantho Lower

Amity

C Copper

Amity

Open Pit AB Zinc

500m DEEP

1000m DEEP

1500m DEEP

Hougoumont

Extended

Hougoumont

Q Copper

(Lower)

Upper Q Copper

A Copper

Hougoumont

Hangingwall

Tryall

Catalpa

Ethel

Oizon

Gossan Hill 2015

Mine overview

6

Gossan Hill Underground Mine

> Lead/Zinc (Pb/Zn) ore contains:

- Sphalerite (ZnS), Galena (PbS), Ag, Au.

> Copper (Cu) Ore.

- Chalcopyrite (CuFeS2).

Mine overview

7

Scuddles Underground Mine

> Lead/Zinc (Pb/Zn) ore contains:

- Sphalerite (ZnS), Galena (PbS), Ag, Au.

> Copper (Cu) Ore.

- Chalcopyrite (CuFeS2).

Portal Mine

Shaft Northern

Upcast

Central

Downcast Southern

Downcast

Batavia

SCUDDLES 2015

500m DEEP

1000m DEEP

Mine overview

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Gossan Hill Open Pit

> Copper ore contains:

- Variety of Cu sulphide and Cu oxide minerals.

- Native Cu.

- Au.

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2015 Drilling by type

Grade Control

Delineation

Resource Definition

Near Mine Exploration

Resource Expansion

> Seven underground rigs.

> One surface multi-purpose rig.

Metallurgy flow sheet

10

Gossan Hill

Stockpile

Scuddles

Stockpile

Tailings

Minefill

Pebble Crusher

Copper/Zinc Flotation

Zinc/Copper Thickener

Zinc/Copper Clarifier

Thickening and Filtration Thickening and Filtration

HPM Thickeners

Lead Flotation

Ball Mills x 2

Gossan Hill – ROM, Crusher & Stockpile

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1. Raw underground ore on the Run-Of-Mine (ROM) gets pre-crushed by mobile equipment.

2. Ore is fed through a Jaw Crusher.

3. Ore is stockpiled and fed to grinding circuit.

Run-Of-Mine Pad

Primary Crusher Gossan Hill Stockpile

Scuddles – Hoist, Crusher & Stockpile

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1. Scuddles Hoist – hoists crushed ore from underground.

2. Ore is crushed by a cone crusher.

3. Ore is stockpiled and conveyed to the main plant feed conveyor.

Scuddles Hoist

Secondary Crusher

Scuddles stockpile

Grinding

13 Semi-Autogenous Grinder

Ball Mill 1

Semi-Autogenous Grinder (SAG)

> SAG mill (1.5MW).

> Pebble crusher.

Ball Milling Circuit

> Ball Mill 1 (1.5MW).

> Ball Mill 2 (400kW).

Dewatering

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4x Thickeners

2x Disc filters 1x VPA pressure filter

Tailings – Dams, CHF Mine Backfill

Mill tailings are directed to two locations:

> Cement Hydraulic Fill (CHF) Plant supplies backfill to Gossan Hill underground mine.

> Tailings Storage Facilities.

Tailings Storage Facility 3 Cement Hydraulic Fill Plant

Marketing

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Products: Zinc concentrate

Copper concentrate

Lead high precious metals concentrate

Production: 2015 guidance (metal in concentrate)

Zinc: 40 -55 kt contained zinc

Copper: 21 -24 kt contained copper

Product sales: Smelters in Asia and Europe

• Concentrates are trucked 280kms by road from Golden Grove mine site to the Port of Geraldton.

• Road transport is through Giacci Transport who operate 7 dedicated road trains. (14 movements a day =1,400wmt)

• The storage shed at Geraldton is owned by MMG on land leased from the Geraldton Port Authority.

• Ships chartered in-house by MMG via COA with Ausbulk.

Marketing

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Zinc Concentrate

> Zinc grade approximately 50% and ‘clean’ of impurities.

> Silver content just above payability thresholds.

> Primarily concentrate sold to smelters in Japan, Korea and Thailand.

Copper Concentrate

> Copper grade approximately 20%.

> Contains Silver along with payable Gold.

> Primarily concentrate sold to smelters in China, Korea and Japan.

Lead Concentrate containing Copper and high precious metals

> Lead grade approximately 30-35%, Copper 5-10% and payable Silver and Gold.

> Primarily concentrate sold to refineries in Europe.

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