Exploration in a Mature Mine - The Mount Isa Mine Strategy

Mount Isa mine has a long history of successful exploration since discovery 70 years ago. Remaining reserves, although substantial, exist in a scheduling framework which involves long-term production from new ore sources with attendant technical risk and major capital investment. Current exploration aims to incrementally increase reserve tonnage to maintain existing production levels as well as to provide a buffer for potential start-up delays from new ore sources. Exploration also aims to increase the net present value of the operation by discovering new major orebodies around the Mount Isa and Hilton mines.