July 13, 2005

YANACOCHA GOLD MILL

July 13, 2005

PROJECT IS STRATEGICALLY IMPORTANT TO YANACOHA OPERATION

Project is economically attractive. Ores are becoming more complex. Gold Mill is an alternative process to treat these materials. Gold Mill Facility provides the base facilities and skills for future complex ores at Yanacocha.

July 13, 2005

RESOURCE SUMMARY FOR GOLD MILL

Total Tonnes 41.5 million tonnes Average Ore Grade Au 3.92 g/t Contained Ounces Au 5.2 Moz Ag 24.37 g/t Ag 32.5 Moz

Recoverable Ounces Au 4.15 Moz Ag 14.2 Moz Deep Transition Reserves Ounces (Contained) Au 980 Koz

July 13, 2005

PROCESS
A ggl om er at i on Pr i m ar y Cr us her St ockpi l e Gr i ndi ng ci r cui t El ect r i cal Subs t at i on Ar ea

Leach Ci r cui t 24 H r s

Count erCur r ent D ecant at i on ( CCD )

Sul f i di zat i on,A ci di f i cat i on, Reci r cul at i on & Thi ckeni ng ( SA RT)

A ci di f i cat i on,V ol at i l i zat i on, Reads or pt i on ( A V R)

Video

July 13, 2005

GOLD MILL PROCESS FLOWSHEET

Dilution Water Gypsum Recycle Linear Trash Screen Cyclones Crusher Feed Bin Jaw Crusher Feeder & Vibrating Grizzly EXISTING AT AGGLOMERATOR Crushed Ore Stockpile (11 hr Storage) Lime & Cyanide

SAG & BALL MILLING

PRE-LEACH THICKENER
Flocculant

Stockpile Feed Conveyor Mill Feed Conveyor

CRUSHED ORE STOCKPILE

SAG Mill (625tph) Sump & Pumps

PRIMARY CRUSHER (Existing) CCD CIRCUIT 5 Stages

Flocculant

Ball Mill (11.5MW)

Pre-Leach Thickener

Process Water Tank

GOLD LEACH
Lime & Cyanide

Flocculant

CCD Wash Solution (LQ Barren)

Leach Circuit (6 Tanks @ 24 hrs) NaHS & H2SO4 Flocculant

Tailings Disposal at La Quinua Leach Pad SART CIRCUIT

Lime Barren Solution To CCD Wash Precip Thickener Flocculant

SART

CONCENTRATE SALES
Precip Filter and Bagging Plant

SART Neutralization Tanks (4 Stages)

Gypsum Thickener

Gypsum Recycle To Mill Barren Solution To Leach Pad

AVR CIRCUIT
NaOH Stripping Columns (5 Installed) H2SO4 Recovered NaCN To Mill Circuit Adsorption Columns (5 Installed) Stripped Solution Tank

CARBON COLUMNS
Barren Solution Carbon Return

Carbon Treatment At La Quinua

La Quinua Carbon Adsorption Circuit

July 13, 2005

CRUSHING Use existing agglomeration Crusher 1500 TPH ~9.5 h/d operation Feed Stockpile ~11 hours live capacity in stockpile Consumables
Power and Steel liners

July 13, 2005

MILLING New SAG and Ball Mill D-26 Krebbs Hydrocyclones

Classify ground ore (80% -75 m)

Consumables
Power, steel balls, mill liners

July 13, 2005

PRE-LEACH THICKENING Objective

Recover process water for grinding circuit Thicken pulp for subsequent leaching to optimize leach residence time

Consumables
Flocculent, anti-scalent, and power

July 13, 2005

GOLD LEACH Slurry is mixed in large agitated tanks with the objectives:
Leach gold and silver from ore copper is leached as a by-product

Consumables
Power, cyanide, lime, low pressure air

July 13, 2005

CCD THICKENING AND WASHING

Purpose
Solids/liquid separation to produce metal/cyanide rich solution for recovery of gold, silver, copper and cyanide Solids routed to mill sands

5 Stages of Thickeners- 28 30 meters diameter Approx 600 m3/h of wash solution 1.2:1 was ratio for >99% solute recovery Final thickener is also a high density mill sands thickener deeper cone

July 13, 2005

SART SOLUTION TREATMENT Sulfidization, Acidification, Recycle, and Thickening.

1st CCD thickener overflow is treated in a SART process to remove Cu and Ag Precipitation of (WAD) metal cyanide complexes Ag, Cu, Zn Cu and Ag sulfides sold as a concentrate Neutralization with lime for gypsum removal Au recovery via 7 stage CIC

July 13, 2005

SART SOLUTION TREATMENT

Batu Hijau Copper Sulfide Precipitation Filter Press

Copper Sulfide product

July 13, 2005

CARBON ELUTION / REGENERATION

Will be performed in existing plants at La Quinua Final Au recovery in existing Merrill Crowe plant/refinery at Yanacocha Norte Objective
Acid wash carbonate and organic material from carbon Concentrate gold from carbon to an enriched solution Regenerate carbon activity Return sized barren carbon to leach circuit

Consumables
Carbon, power, caustic, cyanide, anti-scalent, diesel fuel, hydrochloric acid

July 13, 2005

AVR CYANIDE RECOVERY Acidification, Volatilization, and Recovery

Excess cyanide used in the mill will be recovered and reused in the mill to maintain cyanide balance Only in years where transition ores containing high copper values are treated
Solution contacted with air in packed bed towers HCN is stripped from the solution to the gas phase Recycled cyanide is returned to the mill.

July 13, 2005

NEW REAGENT FACILITIES

Cyanide Lime Caustic Soda Carbon Flocculant Diesel Fuel Anti-Scalent Sulfuric Acid

July 13, 2005

MILL SANDS DISPOSAL

High compression thickened mill sands. Dispose mill sands on the south section of the LQ pad. Mill sands disposal area has same foundation preparation and liner system as La Quinua heap leach. Heap leach and mill sands drainage systems are continuous. Continuos monitoring program.

July 13, 2005

MILL SANDS CROSS SECTION LA QUINUA PAD

July 13, 2005

PROJECT MILESTONE DATES

Submit AFE Start EIS Workshops Submit EIS Start Detail Engineering Plant. Start Bulk Earthworks Const. EIS Approval Start Mechanical/Elect. Const. Mechanically complete Startup Plant March 2005 March 2005 January 2006 November 2005 August 2006 January 2007 March 2007 November 2007 January 2008

July 13, 2005

IMPORTANT RISKS Manageable Risks

Expenditure schedule controlled by social acceptance/permit progress.

Other Risks Considered

Political (Elections). Social acceptance. Metal prices. Reagents & Consumable prices. Escalation.