Ann: Macquarie Western Australia Forum Presentation, page-4

Quin,

Understand your confusion.

My understanding is, current contract at Batu Hijau drops in activity in next few years, but has a considerable tail period, out to 2031, possibly involving remediation works towards end.

However, a reassessment of the mine resource, together with a strong gold price, suggests a continuation of mining at BH is very attractive for owners.

MAH is in an exclusive/preferred position for that BH extension business, and hopes to ink a deal in Q1, 2021.

I recall hearing that agreements suggest mine owners ( being MAH's major shareholder) might assist with up front capital equipment cost, which might be significant, given revenue size looks like $1.5-2 billion.

This is all at BH, not to be confused with a nearby possible second mine.(Elang), which is separately being assessed