Anaconda Mining Brochure — November 2018

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ANACONDA MINING DRIVES GROWTH THROUGH TECHNOLOGY, PEOPLE AND PARTNERSHIPS


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SUSTAINABILITY AND COMMUNITY AT THE CORE 03

WRIT TEN BY

DA LE BENTON PRODUCED BY

RICHARD DE ANE


How Anaconda Mining maintains core values throughout technology transformation

F

or a gold mining business, the location and jurisdiction of your portfolio is key towards enabling

any form of real growth. For Anaconda Mining, a TSX-listed gold mining, exploration and development company, that key location is Canada: namely, the highly prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia. Anaconda currently 04

operates the Point Rousse and Tilt Cove Projects located in the Baie Verte Mining District in Newfoundland, comprised of the Pine Cove and Stog’er Tight open pit mines, the fully-permitted Pine Cove Mill, a seven-million-tonne inpit tailings facility, the Argyle deposit, and approximately 9,150 hectares of prospective gold-bearing property. The company is also developing the recently acquired Goldboro Gold Project in Nova Scotia, a high-grade Mineral Resource. Anaconda sees real potential in growing the Goldboro deposit and developing the project into the next gold mine in Nova Scotia. “The goal for Anaconda Mining is to become an intermediate producer,” says Gordana Slepcev, Chief Operating Officer


“As a company, we are continuously looking to promote from within. I feel that everyone has their heart in the business. If you have good, hard-working people who care about what they do, why would you bring someone else into the business?” — Gordana Slepcev, Chief Operating Officer

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(COO) at Anaconda. “For us, we look

for Anaconda. Slepcev feels that the

to grow our company and our existing

ultimate enabler of growth lies within

projects significantly over the next

people and the way in which the

three to five years.”

organization empowers them. “It’s

As Slepcev notes, developing the

a really great company to work for,”

company’s current project portfolio

she says. “There is a strong culture

will establish a foundation in which

and we are an extremely closely-knit

Anaconda can grow and transition

team where each and every person

into an intermediate producer. The

is passionate about what they do.”

company is currently drilling and

The mining industry by its very nature

expanding its existing resources

is often one that relies on third-party

across its portfolio, with the recent

support and bringing expertise into

Goldboro acquisition and Argyle

the business to develop and train the

deposit possessing huge potential

current workforce. All around the

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ANACONDA MINING REDUCED DILUTION FROM 20% TO 5% THROUGH BLAST MOVEMENT MONITORING Video: Garry Luffman, senior geologist at Anaconda Mining's Pine Cove mine, describes how the geology team use BMT's BMM System to measure blast movement and deliver US$15-30,000 additional value per blast.

Anaconda Mining operates the Pine Cove Gold Mine and Mill located in Newfoundland, Canada. Gold mineralization is hosted within quartz veins, dipping gently to the north with an east-west strike. Blasting occurs on 6 m benches and excavators selectively mine small ore pockets in a single pass. Narrow ore zones were not recoverable and high dilution was affecting mill grade. Narrow ore zones presented challenges to mine operations. Small ore polygons, some only two blast holes wide, were entirely displaced from their in situ location by blast movement. Dilution, up to 20%, was affecting grades and ore production. Dilution was reduced to less than 5% and recovered tonnes increased. Monitoring blast movement and translating ore polygons to their post-blast position enabled Pine Cove mine to control dilution.

“The decrease in overall dilution, from 20% to less than 5%, has made a huge impact to our project, not just in improved economics but also in reduced tailings production and overall project footprint. Using the BMM System we can mine small zones of ore—increasing overall recovered tonnes. Without BMT we would not attempt to recover these small polygons due to movement.” - Gordana Slepcev, COO, Anaconda Mining

www.blastmovement.com

Blast Movement Technologies The only way to accurately account for variable blast movement is to measure it. Blast Movement Technologies (BMT) helps mines accurately measure blast movement and increase recovered value. The Blast Movement Monitoring (BMM) system is used by open pit mines throughout Africa, Europe, North and South America, Australia and Russia, and in commodities including copper, gold, iron ore, lithium, nickel, platinum, silver, uranium and zinc. BMT works with the top nine gold producers and the top four, Barrick, Newmont, AngloGold Ashanti and Kinross, have adopted the BMM system as their corporate standard for grade control. Increasing profitability, reducing waste. By accurately accounting for blast movement: • Canada’s largest gold mine, Canadian Malartic, estimated that they saved CA$7 Million in Q1 2018. • Teck’s Red Dog zinc mine reported savings of US$6.5 million annually. • Centerra Gold’s Mount Milligan copper mine recovered over US$600,000 additional ore in one blast. • Evolution Mining’s Cowal gold mine reported a 7% improvement in mill feed grade. • Pilbara Minerals’ Pilgangoora Lithium-Tantalum mine increased recovered value by A$335,000 in one blast. • Asanko Gold’s Nkran mine in Ghana improved reconciliation from 88% to 102%. • Golden Queen’s Soledad Mountain Mine increased recovered value, average per-blast savings estimated at US$55,000.

Making Every Ore Blast More Profitable


“As a good corporate citizen, Anaconda continuously proves that it is very environmentally conscious in everything that it does to show that it takes it seriously and it does its very best to make mining sustainable” — Gordana Slepcev, Chief Operating Officer

world, there are challenges of skills shortages and, in some cases, a lack of interest in working in the sector. Where Anaconda stands tall is in its ability to involve its staff from the top down in as much strategic conversation as possible, steering the company in the right direction by ensuring that every member of staff feels that they are a key part of this growth journey. Slepcev herself is a fine example of this, having been with Anaconda for over five years. She initially joined the business as Manager of Technical Services back in 2013, before being promoted to the position of COO in 2017. “As a company, we are continuously looking to promote from within. I feel that everyone has their heart

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in the business. If you have good, hardworking people who care about what they do, why would you bring someone else in? It really is the people that make the difference for Anaconda. They are the ones who drive down costs, increase production rates and develop our projects into what they are. It is all because they take that extra step. They take care and they have great pride in what they do,� says Slepcev. In the mining industry, it is imperative for a company to understand and obtain its social license to operate. 12

Partnering with and establishing key relationships with local governments, regulatory bodies and indeed local communities can make or break any operation before boots hit the ground and for Anaconda Mining, this is something it invests in heavily. Environmental sustainability is at the very heart of its LEAN and Green Vision Statement which is to be an environmental leader with a primary focus on proven, innovative green initiatives that contribute to the sustainability of the environment. Anaconda works closely with


CLICK TO WATCH : ‘OUR PEOPLE – WORKPLACE EXCELLENCE AT ANACONDA MINING’ 13 its employees and contractors to ensure that they are committed to and working towards this vision. This includes training programmes, regular communication between all areas of the business and the development, design and operation of environmentally sound facilities across all of its projects. “Most of our people work within the local communities and live within the local communities,” says Slepcev. “As a good corporate citizen, Anaconda continuously proves that it is very environmentally conscious in everything that it does to show that w w w.a na c o nda mi ni n g . com


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it takes these issues seriously and does

As the company looks to grow, to

its very best to make mining sustainable.”

develop its projects and to discover

Slepcev attributes this commitment

new ones, it does so with the caveat

to sustainability and the successes

that the industry is cyclical. Anaconda

it has and will continue to achieve in

can achieve all the success in the world

this space back to its approach to its

in its current and future portfolio, but

people. “Aligning all the goals from the

were the industry to suffer an extreme

top down to anybody in the company,

downturn in commodity prices then

making sure all of the people are heard.

it could completely undermine all the

They’ve been developed. They’ve been

efforts and hard work that it has put in

trained and given opportunities to do

over the last decade. How a company

more for the company.”

survives this is by operating smartly


ÂŁ17.6mn Approximate revenue

2002

Year founded

200

Approximate number of employees E X E C U T I V E P R OF IL E and focusing on key areas that, through

has established an in-house continuing

sound development, will stand against

education system called Anaconda

any downturn or financial concern.

University (AU). This innovative and

Slepcev believes that Anaconda is more

comprehensive corporate university

than capable of weathering any storm

training system was created to fully

through its focus on its current projects,

engage and develop employees while

people and key partnerships it has

aligning their learning to the company’s

established with local universities

strategic objectives. This is achieved

and communities.

through a platform to support innova-

Through this approach, Anaconda has

tion and the development of new ideas,

been able to embrace new technologies

provide motivation to the workforce, and

and greater innovation. The company

attract and retain high quality talent. w w w.a na c o nda mi ni n g . com

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“We’ve always been innovative,” says Slepcev. “Through our culture, we’ve been able to better embrace and implement innovation and safety programs. For the first time in our company’s history we have created a position of the VP of Innovation, so we can focus on it full time. We have achieved significant mining dilution reduction using technologies such as Blast Monitoring Technologies (BMT) as well as GPS solutions in our shovels and equipment. We’ve also been using 16

drones for a number of years in our development planning processes.” Anaconda has also been working on a number of major projects with Memorial University, College of the North Atlantic and the Canadian


government including ACOA

“Within five years, we aim to grow enough to have a multi-millionounce portfolio and be producing approximately 100,000 ounces annually in a geographically concentrated area” — Gordana Slepcev, Chief Operating Officer

(Atlantic Canada Opportunity Agency), NRC-IRAP (National Research Council Industrial Research Assistance Program and the RDC (Research and Development Corporation). One of the most significant R&D projects within this partnership has been a $3.5mn initiative to commercialize a technology to economically mine underground single, narrow mineralized veins. For Slepcev, in a sector that has historically been slow to embrace technology and

innovation, it is important that however and wherever the company invests in technology it does so with its core values in mind. “For us, it’s about trying to maximize production, bring greater value and efficiency to the business and importantly, decrease our environmental footprint,” she says. As the company continues along its growth journey, Slepcev can look back over the company’s 10 successful years in operation. For her, this is important as the company can celebrate a number of successes and key lessons it has w w w.a na c o nda mi ni n g . com

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“Through our culture, we’ve been able to better embrace and implement innovation and safety programs” — Gordana Slepcev, Chief Operating Officer

learned along the way, particularly in its relationships with stakeholders, the support it receives from communities and First Nations and the overall pride and sense of community its employees bring to work each day. As Anaconda looks to further the Goldboro project and future potential projects this togetherness will only continue to grow alongside the company. “We’re currently focused on Atlantic


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Canada and we will grow our portfolio

going well. As we grow, our success will

through either exploration or mergers

come from our drive to be open, to listen,

and acquisitions. Our goal is that within

and to enable and empower everyone in

five years, we grow to have a multi-

our business.”

million-ounce portfolio and be producing approximately 100,000 ounces annually in a geographically concentrated area,” says Slepcev. “We go through conversations and open up dialogues with every part of the business to make sure everything’s w w w.a na c o nda mi ni n g . com


232 Highway 410 PO Box 238, Baie Verte Newfoundland A0K 1B0 Canada T (416) 304-6622 www.anacondamining.com


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