Ann: Key Environmental Permit Secured At Salobo West, page-27

Environmental and Mines Department approvals received for a 3Mtpa wet processing operation
Mining Leases granted 10-year land access agreement signed in 2012 with option to extend
Feasibility Study completed in November 2012 for 2Mtpa Project Initial production rate revised to 1Mtpa in 2013 to reduce start-up CAPEX for Centaurus to R$109M using imported modularised plant.
Ideally positioned to be a consistent and reliable supplier of high-quality, low impurity iron ore to
domestic steel mills In-pit friable Ore Reserve: 48.5Mt @ 28.1% Fe
– ~18Mt of high grade product (+65% Fe)
Tax loss $72M
Could be a very good take over target.