South Mineral Resources Investment Dr Andrew Rowett

General Manager Resource Information Mineral Resources, DMITRE

Tokyo 12th November 2012

FIMI Convention, Bangalore, 2012

Outline of Presentation

1. ’s mineral commodities, discoveries and resources

2. South Australia’s Mining Pipeline Uranium Copper Iron Ore

3. International Partnerships

4. South Australia’s PACE 2020 initiative – supporting growth and investment in our resources

South Australia’s Mineral and Energy Commodities

• Copper • Opal and Jade • Iron Ore and Steel • Salt • Uranium • Gypsum • Zircon & Mineral Sands • Dolomite and Limestone • Gold and Silver • Silica • Lead and Zinc • Dimension stone • Processed petroleum • Natural Gas products • Oil • Kaolin • Coal • Graphite • Shale Gas • Processed petroleum products

Mineral Project Pipeline Major Mines 1. Olympic Dam 10. Beltana 2. *Challenger 11. White Dam 3. Beverley 12. Cairn Hill 4. Middleback 13. Iron Chieftain Range 14. Ankata 5. Leigh Creek 15. Kanmantoo 6. *Malu 16. Beverley North 7. *Angas 17. Peculiar Knob 8. *Honeymoon 18. *Wilgerup 9. Jacinth- 19. Wilcherry Hill Ambrosia 20. Mindarie

Developing Projects *Arckaringa (CTL) Gullivers (HM) Paris (Ag) Atacama/Typhoon/ Gum Flat (Fe2O3) Poochera (Kaolin) Sonoran (HM) Hawks Nest (Fe2O3) *Portia (Au) Beverley South (U3O8) Hematite Extension Project Razorback (Fe3O4) *Bird-in-Hand (Au) HEP (Fe2O3) *Samphire (U3O8) Bramfield (Fe2O3) Hillside (Cu, Au) Snaefell (Fe3O4) Bungalow (Fe3O4) Junction Dam (U3O8) Tripitaka (HM) *Carrapateena (Cu-Au) *Kalkaroo (Cu-Au-Mo) Typhoon(HM) Crocker Well (U3O8) Maldorky (Fe3O4) *Tunkillia (Au, Ag) Flinders-Reliance (Zn) *Menninnie Dam (Pb-Zn-Ag) Uley (Graphite) *Four Mile(U3O8) Mutooroo (Cu-Co) Warramboo (Fe3O4) White Dam North (Au)

Fusion (Fe3O4) MutoorooMajor (Fe2O3) Prospects

Acropolis (Cu-U-Au-Ag) Deloraine (Au) Mainwood (Au) North Portia (Cu, Au) Torrens South JV (Cu, Au) *Alvey (Pt, Pd) *Dromedary (HM) Malache (Zn, Pb) Notrab (HM) Ultima Dam (Au, U3O8) *Aphrodite (U3O8) *Emmie Bluff (Cu) Melton (Cu, Au) *Oakdale (Zn, Cu) Victory (U3O8, REE) Aristotle (Zn) Emmie North (Cu) Minbrie (Fe) Parara (IOCGU) *Vulcan (Cu, Au, U3O8) Armchair (U3O8) Eurelia (Diamonds) Miranda (Cu) *Parkinson Dam (Ag, Zn, Cu, Au) Weednanna (Pb, Zn, Ag, Cu, Au) Aroona 2 (Zn, Pb) Eurinilla Dome (Cu, Au) Mojave (HM) Pindari (Ni, Cr) Wheal Ellen (Zn, Pb, Ag) *Baggy Green (Au) Flinders Island (Diamond) *Mongolata (Au) Pollinga (Mn) Willamulka (Cu, Au) Bagot Well (Cu) Giffen Well (Fe2O3) Monsoon (Au) Princess Royal (Cu) Willy Willy (HM) Bald Hill Iron (Fe) Glenrae (IOCG) *Moonta (Cu) *Prospect Hill (Sn) Winjabbie East (Cu, REE) *Barns (Au) Golf Bore (Au) Moorilyanna (Cu) *Pundinya (U3O8) Wirrda (Cu, Au) *Barton West (HM) Goulds Dam (U3O8) Mount Brady (Fe, Cu, REE) Punt Hill (Cu, Au) * Yadglin (U3O8) Becaroo (U3O8, REE) Greenpatch (Fe3O4) *Mount Caroline (Ni, Cu, Pt, Pd) Radium Hill (U3O8, Th, Ra) Yanyarrie (Ba) Big Lake 20 (U3O8) *Hercules (Fe3O4) Mount Christie Siding (Cr2O3) Sequoia (Fe, U3O8) Yarramba (U3O8) Big Lake 28 (U3O8) Hicks Hill (Fe) Mount Cora (Fe) Sheoak (Au, Ag) Zeus (Cu, Ni) *Black Hills (Au) Jamieson Tank (Mn) Mount Davies (Ni) Shylock (Cu, Au) Blanchewater (U3O8) *Jungle Dam (Ag, Au, Fe) Mount Distance (U3O8) Skye (Au, Ag) Blinman (Cu) *Kangaroo Dam (Pt, Pd, Au) *Mount Gunson (Cu, Co) Springfield (Diamond) *Blue Rose (Cu, Au) Kenmore II (Ni, Cu) Mount Torrens (Cu-U-Au-Ag) *Stuart (IOCGU) Burra (Cu) Kingston (CTL) *Mount Woods (IOCGU) Taurus (Pt, Pd, Cu) Carrow (Fe) Kopi (Fe) Mulyungarie (U3O8) Telephone Dam (Pb, Zn) *Claude Hills (Ni) Lady Jane (Au) Netherleigh Park (Cu) *Titan (Cu, Au) Clinton(CTL) Lilydale (Fe) *Netley Hill (Cu, Mo) Tomahawk/Tunkillia area 191 (Au) 5 *Coolybring (Fe3O4) Lock (Coal) North Kalkaroo (Cu, Au) Toondulya (Cu, Au) 5 * PACE Co-funded * PACE Co-funded 5 South Australia’s Major Mines and Advanced Projects in 2012

• Twenty major mines • Exploration, A$323m pa • Employment, 14 000 people • Export Revenues, 37% A$4.2 bn+ • Over 30 minerals and energy projects

Australia’s Copper Resources Copper

South Australia has the largest Economic Demonstrated Resource in Australia at 56.5Mt which is 70% of the national total MINES

*Olympic Dam: BHP-B *Malu (Prominent Hill Open Cut): Oz Minerals Ankata (Prominent Hill Underground): Oz Minerals Kanmantoo: Hillgrove Resources

PROJECTS

*Carrapateena: Oz Minerals Hillside: Rex Minerals *Kalkaroo: Havilah Resources Mutooroo: Havilah Resources

PROSPECTS

North Portia: Havilah Resources Punt Hill: Monax

* PACE Co-funded

Australian Copper Conference 2012 Selected (Top 30) Copper Historical+Current Resources

• OLYMPIC DAM (BHPB) • CAIRN HILL • PROMINENT HILL (OzMin) • BLINMAN • CARRAPATEENA (OzMin) • MOUNT GUNSON • HILLSIDE (Rex) • ANABAMA • KAPUNDA • MG 14 • KANMANTOO (Hillgrove) • ELSIE • EMMIE BLUFF • ADAIR • KALKAROO • CATTLE GRID SOUTH • CATTLE GRID • BREMER • MUTOOROO (Havilah) • ANGAS • WALLAROO • MOUNTAIN OF LIGHT (Phoenix) • WINDABOUT • POONA • MOONTA NORTH • WHEAL HUGHES • PORTIA • BURRA • WEST DOORA • PARABARANA Globally Competitive in New Copper Discoveries

Olympic Dam (1976) Prominent Hill (2001) Carrapateena (2006) Hillside (2009)

Source: MinEx Consulting Feb 2010 The Premier IOCG Terrane

• ca. 1000 km x 1000 km (including Curnamona) Prominent Hill • Open, underexplored belt to northwest Olympic Dam • Pervasive alteration Carrapateena • Numerous targets

Moonta – Wallaroo

Hillside

Iron Oxide Copper Gold Deposits

Olympic Dam

• Total Resource 9 129 Mt at 0.86% Cu, 0.027% U3O8, 0.32 g/t Au and 1.48g/t Ag Total Ore Reserve 500 Mt at 1.84% Cu, 0.057% U3O8, 0.76 g/t Au and 3.41 g/t Ag

• Production 2011–12 193 000 t Cu, 3890 t U3O8, 118 000 oz Au

Prominent Hill • Total Resource (including Ankata and Malu) – 214.9 Mt at 1.23% Cu, 0.5 g/t Au, 2.8 g/t Ag Production 2010–11 (contained metal in concentrate) – 105 751 t Cu, 191 708 oz Au, 530 568 oz Ag • Production 2011–12 107 000 t Cu, 147 000 oz Au

Carrapateena

• Inferred Resource 203 Mt at 1.31% Cu, 0.56 g/t Au, 6.0 Ag, 270 ppm U3O8

Hillside Prospect • Inferred Resource 217 Mt at 0.7% Cu, 0.2 g/t Au and 12.4% Fe

Total Remaining Copper (JORC + Historical)

90 Statistical under-representation 80 of large1-3Mt Cu occurrences 70 Olympic Dam and no giant 3-80 Mt Cu…. 60 so far 50 40

Cu(Mt) 30 20 10 Deposits

0

1 3 5 7 9

11 13 15 17 19 21 23 25 27 29 3

2

Cu (Mt)Cu

1

MG14

BURRA

ANGAS

NORTH…

CATTLE…

WHEAL…

POONA

MOUNT…

BREMER

HILLSIDE

MOONTA

BLINMAN

KAPUNDA

ANABAMA

KALKAROO

CAIRNHILL

WALLAROO

MOUNTAIN…

CARRAPATE…

ELSIE ADAIR

PROMINENT…

MUTOOROO

CATTLEGRID

WINDABOUT

WESTDOORA

KANMANTOO PARABARANA EMMIEBLUFF Deposits

Data courtesy Marc Davies GLOBAL CONTEXT Uranium discoveries: All Years

Primary By-Product Uranium Uranium

1000 Olympic Dam 500 kt U3O8 125 (2545 kt U3O8) 25 The world’s 5 biggest uranium deposit is in South Australia

Source: MinEx Consulting © July 2012 Australia’s Uranium Resources Uranium

Total uranium resources in South Australia

2.65 Mt U3O8 (2.25 Mt U) MINES

Olympic Dam: BHP-B Beverley: Heathgate Resources Beverley North: Heathgate Resources Honeymoon: Uranium One/Mitsui

PROJECTS Four-Mile: Alliance Resources/Quasar Resources Beverley South: Heathgate Resources Crocker Well: Sinosteel PepinNini Curnamona Management Samphire: Uranium SA Junction Dam: Marmota Energy

PROSPECTS Acropolis Cane Grass Oak Dam Radium Hill Wirrda Well Yarranna

SOUTH AUSTRALIAN URANIUM

200000.00 2500000.00 TOTAL U ENDOWMENT (t) 180000.00

2000000.00 160000.00 Total Uranium 140000.00 1500000.00 Endowment: 120000.00 2.25 Mt U 1000000.00 100000.00 (2.65 Mt U3O8) t

80000.00 500000.00

60000.00 0.00 40000.00

20000.00

0.00 Australia’s Iron Ore Resources Iron Ore

MINES Middleback Ranges: Arium Cairn Hill: IMX Resources Ltd Iron Chieftain: Arium *Wilgerup: Centrex Metals Ltd Peculiar Knob : OneSteel Ltd Wilcherry Hill: Ironclad Ltd

PROJECTS Bramfield: Lymex Ltd

Gum Flat: Lincoln Minerals Ltd

Hawks Nest: : OneSteel Ltd Mutooroo: Sumitomo Metal Mining Oceania Pty Ltd/ Minotaur Exploration NL Razorback: Royal Resources Ltd Warramboo: Iron Road Ltd Snaefell: IMX Resources Ltd Bungalow: Centrex Metals Ltd Baotou Iron & Steel Group Hematite Extension Project HEP: Arium

PROSPECTS

Lilydale: Havilah Resources NL Maldorky: Havilah Resources NL

* PACE Co-funded

An exciting list of future developments

Iron Ore • Rejuvenation and expansion of iron ore magnetite mines in Middleback Ranges by Arrium including Iron Baron, Iron Knob • Wilcherry Hill magnetite mine north of Kimba - IronClad Mining • Centrex Metals’ Wilgerup magnetite project and the associated WISCO/Centrex bulk iron ore facility north of Tumby Bay. • The Mutooroo, Razorback, Hawsons and Maldorky magnetite projects in the Curnamona Province are pursuing export options through Port Pirie.

Copper • Ankata underground copper gold mine expanding Prominent Hill operations - OZ Minerals • Carrapateena Copper Gold project OZ Minerals

Infrastructure • Arrium’s Whyalla iron ore port expansion to double throughput for export of Peculiar Knob and Hawks Nest • Port Bonython proposed $600m—$700m bulk commodity deep sea port facility

PACE 2020

International Partnerships

Saskatchewan Ontario

China India

Chile Adelaide Importance of Our National and International Partnerships

INTERNATIONAL • Government of South Australia partnership with People’s Republic of China • South Australia partnership with Shandong Province, China • DMITRE Mineral Resources partnership with Beijing Research Institute of Uranium Geology, China National Nuclear Corporation (CNNC) • DMITRE Mineral Resources partnership with Jilin University, China (Adjunct Professor Dr. Baohong Hou) • DMITRE Mineral Resources & Saskatchewan Province, Canada • GSSA and Chilean Ministry of Mines

NATIONAL • SACOME-DMITRE partnership on Community Engagement and Code of Practice • Leadership of Land Access Working Group under Standing Council Energy & Resources • Partnership with Geoscience Australia • South Australia’s Partnership with Northern Territory • Geoscience Partnerships with Australian States and Territories • Partnership with Deep Exploration Technology Cooperative Research Centre (DET CRC) and Adelaide University • Partnerships with CSIRO and Universities

Saskatchewan Ministry of Energy and Resources

• Early March 2009 Memorandum of Understanding signed between DMITRE (PIRSA) and the Saskatchewan Ministry of Energy and Resources, CANADA – Saskatchewan is the leading jurisdiction in North America for uranium exploration and mining production. • Athabasca Basin – World’s largest high grade U mines – Produces ~23% world U

• MoU aims to: – Promote geoscientific exchange – Facilitate geoscience knowledge sharing – Generate new U models for SA – Develop regulation and best practice policy

Athabasca Basin 3D modelling work

Cariewerloo Basin Project

Multi-parameter AEM survey lithostratigraphic logging

Hyperspectral logging

Magnetic depth to basement Geophysical Interpretation Adobe 3D pdf South Australia’s Objective for Mining Approvals

• Target of 6 months for Mineral Lease grant (timing from formal lodgement of lease application) achievable for major mines in SA

• Major mine – Prominent Hill (Oxiana now Oz Minerals) approved in 5 months (2006)

• Major Mine – Jacinth Ambrosia (Iluka) approved in 7 months (2009)

• Small mine – White Dam (Exco) approved in 3 months (2007)

• Longer for uranium mines and mines that trigger Environmental Impact Statement and/or Hawes Environment Protection and Biodiversity Conservation (Act 1999) processes compares to national benchmark* of

– 1- 2 years for “major” mine

– 6-12 months for “small” mine

* “National Audit of regulations influencing mining exploration and project approvals processes”, report prepared by URS for MCA, February, 2006

South Australia: a player on the world resources stage

1. PACE 2020 is the benchmark for Government

exploration/mining initiatives around the world

2. SA is World No.1 in Geoscience Data and Delivery

3. SA has attracted the world’s leading explorers and producers

4. Record growth in exploration and resource development

5. Globally significant exporter of Copper and high potential for

further discovery in the > 200 Mt (>1-3 Mt Cu) range