Investor Presentaiton
OUTSTANDING
QUALITY PORTFOLIO
Ernest Henry (2040)1
Copper and gold exposure
▪ LOM supported by current
feasibility study (Mar 2025)
■ Extensive resource and reserve
growth opportunity
Mt Rawdon
■ Innovative option on transition to
renewable energy source
following resource depletion in
~18 months
Investment decision - Dec 2024
Red Lake (2038)1
Targeting consistent production of
~200koz pa
■ Stable cash generation
Mungari (2038)1
Current expansion project to
double mill capacity, extend
LOM to 2038 and lower AISC
Commissioning on track
(March 2026)
Northparkes (~2053)²
Increases group copper and gold exposure
Long history of stable cash generation
Lower near-term capital intensity with mining
method optionality
Cowal (2040)1
Production now supplemented by higher margin
underground operations
Expansion potential in open pit and underground
mining
Asset legend
Copper and gold
Gold
Accretive acquisition that improves quality of portfolio
Evolution
MINING
1. Refers to current FY24 life of mine plan
2. Based on a ~30 year mine life
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