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Geometallurgy at Olympic Dam

8th SA Exploration and Mining Conference
2nd December 2011

Kathy Ehrig
Principal Geometallurgist
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Slide 2
Todays Presentation

Olympic Dam Summary

Olympic Dam Mineralogy

Key Process Drivers Impacted by Mineralogy

Olympic Dam Geometallurgy

Mineral Mapping

Conclusions

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 3

Olympic Dam Operations - Summary
Discovered by WMC in 1975 Production commenced 1988

Mechanised sublevel longhole open stope mining

Grinding and concentration

Hydrometallurgical treatment

Acid production Smelting Cu--refining and PM production

Cu

Fully integrated circuit, problems in one part impact the whole.

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 4

 Olympic Dam Geology - Summary

Hydrothermal Fe-oxide Cu-U-Au-Ag deposit

Olympic Dam Breccia Complex (ODBC) Existing underground

Roxby Downs Granite ~1590 Ma

~350m of unmineralised cover sequence Cover Sequence

Deposit wide zonation pattern

py-cp-bn-cc
gangue minerals

Orebody ~6km x 3.5km x 800m

Deposit exposures are limited to:

diamond core: Basement ~350m depth
~740 km from underground
~1,420 km in basement
~400 km of underground development
no surface exposures
1% Copper shell

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 5

 A few questions to consider

How do we predict profitability:

next year
Existing underground
next 5 years
life-of-asset (i.e. +100 yrs)?

What ore deposit characteristics impact:

Cover Sequence
throughput
metal recoveries
reagent consumption
product quality?

Basement ~350m depth

1% Copper shell

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 6

Granite- to hematite-rich breccias
RDG
GRNH
GRNL
HEM
HEMQ

45
40
35 Rock Type Continuum
30
Si (wt%)

25
20
15
10
5
0
0 10 20 30 40 50 60 70
Whole Rock Data Fe (wt%)

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 7

 OD Breccias: Other Components

Felsic Dykes

Sediments

Mafic/Ultramafic Dykes

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 8

 Olympic Dam Mineralogy

Olympic Dam ORES

(>70 minerals)

Economic Minerals Sub-Econ. Minerals Gangue Minerals

Hematite grinding
Quartz grinding
Cu-Sulphides Co-, Zn-, Mo-, REE-, Sericite slime
(py-cp-bn-cc) As-, Se-, Bi-, Te-, K-feldspar
(concentrate quality)
Sb-, Pb- Chlorite acid, gelling
Uranium Minerals bearing minerals
(uranium recovery)
(concentrate quality)
Siderite acid
Au-Ag Fluorite acid
Barite
+etc
Wide spectrum of mineral mixtures many ore types

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 9

OD Breccias, Mineralogy, Metallurgy

OD breccias are:
texturally chaotic
mineralogically simple
Two Facts:

1. Ore deposits variable mixtures of minerals

2. Mineralogy primary control of metallurgical performance

mineralogy process

+
metallurgical
effect on critical
performance
process minerals
PREDICTED
QUANTIFIED MAPPED

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 10

Olympic Dam Geometallurgy
The primary objective of the Geometallurgy Program is to develop metallurgical
performance predictors that reliably describe the process performance of
different ore types and spatially distribute these into the resource block model
for use as a fundamental input into mine planning.

The Geomet Models are predictive mineralogy and recovery models which are
applied to blocks in the Mineral Resource model to enable the estimation of
mineralogy and metallurgical recovery on a block-per-block basis.

The secondary objectives of the Geomet Program are to:

Identify any ores which may be problematic to the current plant
Provide data of suitable quality for process plant design and future plant
optimisations.

Chemical, mineralogical, physical property, and recovery models, collectively

called the geometallurgical model, provide the data required to support the
JORC code modifying factors as it applies to ...the metallurgical process
proposed and the appropriateness of that process to the style of
mineralisation
Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 11
Key Process Drivers Impacted by Mineralogy

Mill throughput
Ore hardness (hematite-quartz-sericite)
Grind size (sulphide particle size-liberation characteristics)

Concentrate Grade and Quality

Sulphide mineralogy (proxy = Cu:S ratio)
Sulphide non-sulphide gangue composites (mineral texture)
Deleterious elements (i.e. Zn, Mo, Pb, F, As, Se, Te, Bi, Sb, etc)

Uranium Recovery
Extraction (uranium mineralogy, particle size, and association)
Acid consumption (siderite and chlorite)
Gelling potential (chlorite)

Smelter Throughput Refinery

Heat balance (mineralogy) Cathode quality (Bi, Se, As, Te, Sb)
Slag make (mineralogy)

Different ore types for mill, concentrator, hydromet, smelter and refinery.
Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 12
Components of any Geomet Program

Resource
Delineation > 1% Cu

+1,500,000 samples

Resource
Model
+11,000 samples +1,000 samples
Ore Metallurgical
Characterisation Testing

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 13

Metallurgical Testing Program
Comminution
BWi, DWi, Ai, limited SPI

Flotation
Grind establishment
Rougher kinetics
Cleaner kinetics
Locked-cycle tests

Leaching
Concentrate (standard conditions)
Tailings (standard conditions)

Detailed Assaying of all head samples

Deportment of economic, sub-economic, and deleterious elements

Assays and mineralogy on a size-by-size basis:

Flotation feed, concentrate, tails leach feed, and tails leach residues

Metallurgical performance =
(assays, mineralogy, texture, process conditions)
Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 14
Ore Characterisation Program

Detailed Chemical Characterisation

no surprises
potentially economic elements
process deleterious elements

+
Mineralogy (using MLA or QEMSCAN)
-600+425 m size fraction
sulphide, uranium, gangue mineralogy
mineral textural data

mineral (wt%) = (assays)

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 15

Resource Delineation Program

Routine Drill Core Assaying

all drilling below unconformity is assayed
includes ore, low grade, and waste
all samples are assayed by the same:
analytical methods
suite of elements
density and magnetic susceptibility
measurements on all assayed samples
database contains >1.5M assayed samples

Predicted Minerals
pyrite hematite
mineral (wt%) = (assays) chalcopyrite quartz
sulphide and gangue mineralogy can be bornite feldspar
accurately predicted on each assayed sample chalcocite sericite
sphalerite chlorite
molybdenite
galena
siderite
fluorite
Mineralogy (predicted) on 1.5M samples barite
Very powerful dataset

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 16

Geomet Enabled Resource Model

Resource model ~ 20 million blocks, each block has:

Geostatistically estimated:
26 elements plus density and mag susceptibility
15 process critical minerals (geostatically estimated)
Calculated on each block based on estimated elements and minerals:
>50 metallurgical performance parameters
assessment of a blocks real value to recover metal

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 17

Quantitative sulphide mineralogy, WHY?

Copper sulphide smelting technology:

two stage (~120 worldwide)
single stage (direct-to-blister, 1 at OD and 2 elsewhere)
selection is dependent on concentrate sulphide mineralogy

cc
bn-cc
bn
cv
cp-bn
cp
cp-py

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 18

 Quantitative sulphide mineralogy, WHY?

Annual Cu:S Ratio (without pyrite depression)

3.0
bn-cc
Shape of curve varies, depending on the mine plan
2.5
bn
single-stage smelting
2.0
Cu:S Ratio

bn-cp
1.5 requires Smelter change DBF

hybrid

2-stage
cp 1.0 two-stage smelting

py-cp OD Mineral Resource Cu:S ~ 1

0.5
0 5 10 15 20 25 30 35 40
Year (hypothetical, depends on mine plan)

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 19

 Sulphide Mineralogy

cc Logging/mapping & microscopic observations:

depth

occur individually or as distinct pairs over 1-5m scale

bn-cc pseudo-binary sulphide distribution

py bn, py cc, cp cc
bn
the interface between cp and bn is a mappable
surface across the deposit
(cp-bn)
copper occurs in hypogene sulphide minerals only

sulphur occurs in sulphides and barite

cp
Cu:S ratio used as a proxy for sulphide mineralogy
pyrite = 0
py-cp

chalcopyrite = 0.99
bornite = 2.48
chalcocite = 3.96

py

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 20

Sulphide mineral Cu:S ratio vs Cu grade
Sulphide Minerals in Copper Deposits
80

djurleite
70 anilite chalcocite
digenite
Sulphide mineral Cu grade (wt%)

60
bornite

50

40

30 chalcopyrite

20

10

pyrite
0
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0
Cu:S Ratio (Sulphide mineral)

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 21

Sulphide mineral Cu:S ratio vs Cu grade
Olympic Dam Cu-Fe-S Minerals (prior to mining)
80
Produce a 'binary-mixing' mineralogical model
djurleite
70 anilite chalcocite
digenite
Sulphide mineral Cu grade (wt%)

60
bornite

50 40% cp 60% bn

40
80% cp 20% bn

30 chalcopyrite

20
30% py 70% cp

10 60% py 40% cp

pyrite
0
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0
Cu:S Ratio (Sulphide mineral)

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 22

Sulphide mineral Cu:S ratio vs Cu grade
Olympic Dam Cu-Fe-S Minerals (prior to mining)
80
Produce a 'binary-mixing' mineralogical model
djurleite
70 anilite chalcocite
digenite
Sulphide mineral Cu grade (wt%)

60
bornite
Cu% = 1.1619CuS3 - 10.108CuS2 + 43.016CuS + 1.1844
50 R = 0.9997

n
40
%Cu sample = (%Cui * %Mineral i ) / 100
i =1
30 chalcopyrite
%Cu sample
%sulphides =
%Cu(max,Cu:S )
20

%Cu sample = % sulphides * %Cu (max,Cu:S )

10

pyrite
0
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0
Cu:S Ratio (Sulphide mineral)

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 23

 Sulphide Mineral Maps (400m depth)
Mineral %

bornite chalcopyrite pyrite

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 24

 Sulphide Mineral Maps (550m depth)
Mineral %

bornite chalcopyrite pyrite

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 25

 Sulphide Mineral Maps (700m depth)
Mineral %

bornite chalcopyrite pyrite

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 26

Outcomes: Quantitative Mineral Mapping
Drill Core Block Model
Predictive Models
mineral (wt%) = (assays)
recovery = (assays, minerals)

Supported by:
geology
assays 26 elements + 15 minerals
mineralogy density and magnetic susc
metallurgical testing + 50 metallurgical parameters
* Economic return on each block *
Maps
26 elements
density
magnetic susc Optimal Mine Plans/Schedules
Flotation Copper Recovery

$$$
96.0% 2.50%

94.0%

Flotation Copper Head Grade (%)

2.00%
Flotation Copper Recovery (%)

92.0%

90.0%
1.50%

88.0%

1.00%
86.0%

$$$ $$$ 84.0%

82.0%
Copper Recovery

Copper Grade
0.50%

80.0% -
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Financial Year

for any mine plan or plant configuration

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 27

Conclusions, What is in it for you?

Geometallurgy Minimise Risk:

Quantify how the ore will react in the process plant, e.g.
throughput
metal recoveries
reagent consumption
product quality
Evaluate the economic return on each block of potential ore
next year
next 5 years
life-of-asset (at OD +100 yrs)
Investment decisions based on facts, not assumptions!

Think about the recovery, revenue, and opportunity losses ($$$)

when we (as an industry) get it wrong.
Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 28
Olympic Dam Geometallurgy Team

Geometallurgy at Olympic Dam 8th SA Exploration and Mining Conference Slide 29