Ann: OZ Minerals June 2013 Quarterly Presentation, page-13

re: Ann: OZ Minerals June 2013 Quarterly Pres... Hi huge, thanks for filling in some pieces I missed.

I agree that the dolomite zone is impressive. Mining Malu u/g next year will help to add high grade tonnes and keep prod at > 100,000tpa.

I am adopting a "wait and see" approach with Khamsin. At 500m down, you need good grades to justify the infrastructure. C has it at 1.77% Cueq indicated resource. Khamsin at 1% Cueq needs to get much better IMO, before it is economic to mine that resource.

I am still not convinced that C is approaching Tier 1 status yet. While the indicated resource for C currently has 2.9mt of copper, it is not enough to be Tier 1 yet (compare to O Dam - 180kt of copper per year being mined with a mine life of 100 years equals a resource of approx 18m tonnes of Copper or more than 6 times the size of C) If C or C plus Khamsin + Freemantle Doctor got to 9mt of copper in total, then, yes, it would be a Tier 1 cluster. We just aren't there yet.

HT1