CERTIFICATE OF QUALIFIED PERSON

6363 South Fiddlers Green Circle

Greenwood Village, Colorado, USA
Phone: 001 303 708 4599

I, Donald Charles Doe, am employed as Group Executive, Reserves with Newmont Mining
Corporation (Newmont).
This certificate applies to the technical report titled “Ahafo South Operations, Republic of Ghana”
with an effective date of December 31st, 2018 (the “technical report”).
I am a Registered Member of the Society for Mining, Metallurgy and Exploration, 4044636 and a
Professional Engineer in Alberta, 44399. I graduated from Mining Engineering at the University
of Alberta in 1986 (B.Sc.) and in 1991 (M.Sc.).
I have practiced my profession for over 31 years. I have been directly involved in mine
engineering, mine operations, mine design, mineral reserve estimation, mineral reserve audits, in
consulting and corporate positions within the mining industry in Canada, the United States, Peru,
Australia, Ghana, Suriname, New Zealand and Indonesia. In my current senior technical
management role at Newmont, I am accountable for Newmont’s governance system for Mineral
Resources and Mineral Reserves, including the multi-discipline inputs to those estimates, and I
approve the annual estimates for Mineral Resources and Mineral Reserves provided by Newmont
sites and projects, along with their compliance to Newmont’s internal policies and the required
controls, standards and guidelines for the Securities Regulatory requirements under which
Newmont reports.
As a result of my experience and qualifications, I am a Qualified Person for the content in the
technical report, as the term Qualified Person is defined in National Instrument 43–101 Standards
of Disclosure for Mineral Projects (NI 43–101).
I visited the Ahafo South site most recently from August 27th to 30th, 2018.
I am responsible for all sections of the technical report.
I am not independent of Newmont as independence is described by Section 1.5 of NI 43–101.
I have been involved with the Ahafo South property since 2005, first in a technical review and
support role, and since 2014 in a reserves governance role.
I have read NI 43–101 and all of the sections of the technical report have been prepared in
compliance with that Instrument.
As of the effective date of the technical report, to the best of my knowledge, information and belief,
all sections of the technical report contain all scientific and technical information that is required
to be disclosed to make the technical report not misleading.
Dated: March 04, 2019
“Signed and sealed”
Donald Charles Doe, SME Registered Member 4044636.
 Ahafo South Operations
Republic of Ghana
NI 43-101 Technical Report

CONTENTS

1.0 SUMMARY .................................................................................................................................. 13

1.1 Introduction.................................................................................................................................. 13
1.2 Terms of Reference .................................................................................................................... 13
1.3 Project Setting ............................................................................................................................. 13
1.4 Mineral Tenure, Surface Rights, Water Rights, Royalties and Agreements ............................... 14
1.5 Geology and Mineralization ......................................................................................................... 15
1.6 History ......................................................................................................................................... 16
1.7 Drilling and Sampling .................................................................................................................. 16
1.8 Data Verification .......................................................................................................................... 18
1.9 Metallurgical Testwork ................................................................................................................ 19
1.10 Mineral Resource Estimation ...................................................................................................... 20
1.11 Mineral Resource Statement....................................................................................................... 22
1.12 Mineral Reserve Estimation ........................................................................................................ 25
1.13 Mineral Reserve Statement ......................................................................................................... 27
1.14 Mining Methods ........................................................................................................................... 29
1.14.1 Open Pit Considerations ......................................................................................................... 29
1.14.2 Underground Considerations .................................................................................................. 29
1.14.3 Equipment ............................................................................................................................... 30
1.15 Recovery Methods ...................................................................................................................... 30
1.16 Project Infrastructure ................................................................................................................... 31
1.17 Environmental, Permitting and Social Considerations ................................................................ 32
1.18 Markets and Contracts ................................................................................................................ 33
1.19 Capital Cost Estimates ................................................................................................................ 34
1.20 Operating Cost Estimates ........................................................................................................... 34
1.21 Economic Analysis ...................................................................................................................... 36
1.22 Interpretation and Conclusions ................................................................................................... 36
1.23 Recommendations ...................................................................................................................... 36
2.0 INTRODUCTION ......................................................................................................................... 38
2.1 Introduction.................................................................................................................................. 38
2.2 Terms of Reference .................................................................................................................... 38
2.3 Qualified Persons ........................................................................................................................ 38
2.4 Site Visits and Scope of Personal Inspection ............................................................................. 40
2.5 Effective Dates ............................................................................................................................ 40
2.6 Information Sources and References ......................................................................................... 40

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2.7 Previous Technical Reports ........................................................................................................ 41

3.0 RELIANCE ON OTHER EXPERTS ............................................................................................ 42
4.0 PROPERTY DESCRIPTION AND LOCATION .......................................................................... 43
4.1 Introduction.................................................................................................................................. 43
4.2 Property and Title in Ghana ........................................................................................................ 43
4.2.1 Mineral Title ............................................................................................................................. 43
4.2.2 Surface Rights ......................................................................................................................... 43
4.2.3 Environmental Regulations ..................................................................................................... 45
4.2.4 Royalties .................................................................................................................................. 45
4.2.5 Fraser Institute Survey ............................................................................................................ 45
4.3 Project Ownership ....................................................................................................................... 46
4.3.1 Ownership History ................................................................................................................... 46
4.3.2 Current Ownership .................................................................................................................. 46
4.4 Mineral Tenure ............................................................................................................................ 47
4.5 Surface Rights ............................................................................................................................. 52
4.6 Water Rights................................................................................................................................ 52
4.7 Royalties and Encumbrances ..................................................................................................... 52
4.7.1 Investment Agreement ............................................................................................................ 52
4.7.2 Government of Ghana Free-Carried Interest .......................................................................... 52
4.7.3 Franco-Nevada Corporation .................................................................................................... 53
4.8 Property Agreements .................................................................................................................. 53
4.9 Forest Reserves .......................................................................................................................... 53
4.10 Permitting Considerations ........................................................................................................... 53
4.11 Environmental Considerations .................................................................................................... 53
4.12 Social License Considerations .................................................................................................... 54
4.13 Artisanal Mining ........................................................................................................................... 54
4.14 QP Comments on “Item 4; Property Description and Location” .................................................. 54
5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND
PHYSIOGRAPHY ....................................................................................................................................... 56
5.1 Accessibility ................................................................................................................................. 56
5.2 Climate ........................................................................................................................................ 56
5.3 Local Resources and Infrastructure ............................................................................................ 56
5.4 Physiography............................................................................................................................... 57
5.5 QP Comments on “Item 5; Accessibility, Climate, Local Resources, Infrastructure, And
Physiography” ........................................................................................................................................... 57
6.0 HISTORY .................................................................................................................................... 58
6.1 Exploration History ...................................................................................................................... 58

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6.1.1 La Source BRGM and Normandy ........................................................................................... 58

6.1.2 Moydow ................................................................................................................................... 58
6.1.3 Newmont ................................................................................................................................. 59
6.2 Name Changes ........................................................................................................................... 59
6.3 Production ................................................................................................................................... 59
7.0 GEOLOGICAL SETTING AND MINERALIZATION................................................................... 62
7.1 Regional Geology ........................................................................................................................ 62
7.2 Project Geology ........................................................................................................................... 64
7.2.1 Kenyasi-Style .......................................................................................................................... 64
7.2.2 Subika-Style ............................................................................................................................ 66
7.3 Local Geology and Deposit Descriptions .................................................................................... 67
7.3.1 Apensu .................................................................................................................................... 67
7.3.1.1 Apensu Main ....................................................................................................................... 67
7.3.1.2 Apensu Deeps ..................................................................................................................... 68
7.3.2 Subika ..................................................................................................................................... 70
7.3.3 Awonsu .................................................................................................................................... 72
7.3.4 Amoma .................................................................................................................................... 74
7.4 QP Comments on “Item 7: Geological Setting and Mineralization” ........................................... 76
8.0 DEPOSIT TYPES ........................................................................................................................ 78
8.1 Overview ..................................................................................................................................... 78
8.2 QP Comments on “Item 8: Deposit Types” ................................................................................ 79
9.0 EXPLORATION .......................................................................................................................... 80
9.1 Introduction.................................................................................................................................. 80
9.2 Grids and Surveys ....................................................................................................................... 80
9.3 Geological Mapping .................................................................................................................... 80
9.4 Geochemical Sampling ............................................................................................................... 82
9.4.1 Stream Sediment Sampling .................................................................................................... 82
9.4.2 Soil Sampling .......................................................................................................................... 82
9.5 Geophysics.................................................................................................................................. 88
9.5.1 Airborne Geophysics ............................................................................................................... 88
9.5.2 Ground Geophysics ................................................................................................................ 88
9.6 Pits and Trenches ....................................................................................................................... 90
9.7 Petrology, Mineralogy, and Research Studies ............................................................................ 90
9.8 Geotechnical and Hydrological/Hydrogeological Studies ........................................................... 92
9.9 Exploration Potential ................................................................................................................... 92
9.10 QP Comments on “Item 9: Exploration” ..................................................................................... 92

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10.0 DRILLING ................................................................................................................................... 94

10.1 Introduction.................................................................................................................................. 94
10.2 Drill Methods ............................................................................................................................... 94
10.2.1 Aircore Drilling ......................................................................................................................... 94
10.2.2 RC Drilling ............................................................................................................................... 94
10.2.3 Core Drilling ............................................................................................................................. 99
10.2.4 Drilling Used in Mineral Resource Estimation ......................................................................... 99
10.3 Logging Procedures .................................................................................................................... 99
10.3.1 Aircore ..................................................................................................................................... 99
10.3.2 RC Drilling ............................................................................................................................. 109
10.3.3 Core Drilling ........................................................................................................................... 109
10.4 Recovery ................................................................................................................................... 110
10.5 Collar Surveys ........................................................................................................................... 110
10.6 Downhole Surveys .................................................................................................................... 110
10.7 Geotechnical and Hydrological Drilling ..................................................................................... 111
10.8 Metallurgical Drilling .................................................................................................................. 112
10.9 Grade Control ............................................................................................................................ 112
10.10 Sample Length/True Thickness ................................................................................................ 113
10.11 Summary of Drill Intercepts ....................................................................................................... 113
10.12 QP Comments on “Item 10: Drilling” ........................................................................................ 114
11.0 SAMPLE PREPARATION, ANALYSES, AND SECURITY ..................................................... 116
11.1 Introduction................................................................................................................................ 116
11.2 Sampling Methods .................................................................................................................... 116
11.2.1 Geochemical Sampling ......................................................................................................... 116
11.2.2 Trench and Pit Sampling ....................................................................................................... 117
11.2.3 Aircore Sampling ................................................................................................................... 117
11.2.4 RC Sampling ......................................................................................................................... 117
11.2.5 Core Sampling....................................................................................................................... 117
11.3 Metallurgical Sampling .............................................................................................................. 118
11.4 Density (Specific Gravity) Determinations ................................................................................ 118
11.5 Analytical and Test Laboratories ............................................................................................... 119
11.6 Sample Preparation and Analysis ............................................................................................. 121
11.7 Quality Assurance and Quality Control ..................................................................................... 124
11.7.1 1993–2001 ............................................................................................................................ 124
11.7.2 2002 ...................................................................................................................................... 124
11.7.3 2003 ...................................................................................................................................... 125

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11.7.4 2004 to Date .......................................................................................................................... 125

11.7.5 Results .................................................................................................................................. 126
11.8 Databases ................................................................................................................................. 127
11.9 Sample Security ........................................................................................................................ 127
11.10 QP Comments on “Item 11: Sample Preparation, Analysis, and Security” ............................. 128
12.0 DATA VERIFICATION .............................................................................................................. 130
12.1 Internal Data Verification ........................................................................................................... 130
12.1.1 Laboratory Visits.................................................................................................................... 130
12.1.2 2002–2003 ............................................................................................................................ 130
12.1.3 2004–2005 ............................................................................................................................ 130
12.1.4 2006–Current ........................................................................................................................ 131
12.1.5 Database ............................................................................................................................... 131
12.1.5.1 Drill Collar Data ............................................................................................................. 131
12.1.5.2 Downhole Survey Data ................................................................................................. 131
12.1.5.3 CRM and Blank Data .................................................................................................... 131
12.1.5.4 GED Extractions ............................................................................................................ 131
12.1.5.5 GED Database Review ................................................................................................. 132
12.1.6 Specific Gravity ..................................................................................................................... 132
12.1.7 Internal Audits ....................................................................................................................... 133
12.1.7.1 Assay Data .................................................................................................................... 133
12.1.7.2 Reserve and Resource Review Audits ......................................................................... 133
12.1.8 Reconciliation ........................................................................................................................ 133
12.2 External Data Verification .......................................................................................................... 134
12.2.1 2000 – Feasibility Study ........................................................................................................ 134
12.2.2 2003 – Database ................................................................................................................... 134
12.2.3 Model Reviews ...................................................................................................................... 135
12.2.3.1 Optiro ............................................................................................................................. 135
12.2.3.2 Amec Foster Wheeler ................................................................................................... 135
12.3 QP Comments on “Item 12: Data Verification” ......................................................................... 135
13.0 MINERAL PROCESSING AND METALLURGICAL TESTING ............................................... 137
13.1 Introduction................................................................................................................................ 137
13.2 Metallurgical Testwork .............................................................................................................. 137
13.2.1 Phase 1 Testwork.................................................................................................................. 137
13.2.2 Phase 2 Testwork.................................................................................................................. 137
13.2.3 Newmont-Directed Testwork ................................................................................................. 138
13.2.4 Throughput Assumptions ...................................................................................................... 138

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13.2.4.1 Apensu .......................................................................................................................... 138

13.2.4.2 Subika ........................................................................................................................... 139
13.2.4.3 Awonsu .......................................................................................................................... 140
13.2.4.4 Amoma .......................................................................................................................... 140
13.2.4.5 Throughput Forecasts ................................................................................................... 140
13.2.5 Apensu Deeps ....................................................................................................................... 141
13.2.6 Ahafo Mill Expansion Project ................................................................................................ 143
13.3 Recovery Estimates .................................................................................................................. 144
13.3.1 Assumptions .......................................................................................................................... 144
13.3.2 Recovery Improvement Oxygen Addition to Carbon-In-Leach ............................................. 144
13.3.3 Current Recovery Assumptions ............................................................................................ 145
13.3.4 Apensu Deeps ....................................................................................................................... 146
13.4 Metallurgical Variability ............................................................................................................. 147
13.5 Deleterious Elements ................................................................................................................ 147
13.6 QP Comments on “Item 13: Mineral Processing and Metallurgical Testwork” ........................ 148
14.0 MINERAL RESOURCE ESTIMATES ....................................................................................... 149
14.1 Introduction................................................................................................................................ 149
14.2 Modelling Approach .................................................................................................................. 149
14.3 Geological Models ..................................................................................................................... 150
14.4 Exploratory Data Analysis ......................................................................................................... 150
14.5 Density (Specific Gravity) Assignment ...................................................................................... 150
14.6 Grade Capping/Outlier Restrictions .......................................................................................... 150
14.7 Composites ............................................................................................................................... 152
14.8 Variography ............................................................................................................................... 153
14.9 Estimation/Interpolation Methods .............................................................................................. 153
14.10 Block Model Validation .............................................................................................................. 154
14.11 Classification of Mineral Resources .......................................................................................... 155
14.12 Reasonable Prospects of Eventual Economic Extraction ......................................................... 155
14.13 Mineral Resource Statement..................................................................................................... 158
14.14 Factors That May Affect the Mineral Resource Estimate ......................................................... 160
14.15 QP Comments on “Item 14: Mineral Resource Estimates” ...................................................... 160
15.0 MINERAL RESERVE ESTIMATES .......................................................................................... 161
15.1 Introduction................................................................................................................................ 161
15.2 Open Pit Estimates ................................................................................................................... 161
15.2.1 Pit Optimization ..................................................................................................................... 161
15.2.2 Optimization Inputs................................................................................................................ 162

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15.2.3 Ore Loss and Dilution ............................................................................................................ 162

15.3 Underground Estimates ............................................................................................................ 164
15.3.1 Mining Zones ......................................................................................................................... 164
15.3.2 Stope Designs ....................................................................................................................... 164
15.3.3 Ore Loss and Dilution ............................................................................................................ 164
15.4 Mineral Reserves Statement ..................................................................................................... 166
15.5 Factors that May Affect the Mineral Reserves .......................................................................... 168
15.6 QP Comments on “Item 15: Mineral Reserve Estimates” ........................................................ 168
16.0 MINING METHODS .................................................................................................................. 170
16.1 Overview ................................................................................................................................... 170
16.2 Open Pit .................................................................................................................................... 170
16.2.1 Geotechnical Considerations ................................................................................................ 170
16.2.2 Hydrogeological Considerations ........................................................................................... 170
16.2.3 Operations ............................................................................................................................. 170
16.2.4 Cut-off Grades ....................................................................................................................... 173
16.2.5 Equipment ............................................................................................................................. 173
16.3 Underground ............................................................................................................................. 173
16.3.1 Geotechnical Considerations ................................................................................................ 173
16.3.2 Hydrogeological Considerations ........................................................................................... 177
16.3.3 Initial Mining Phase ............................................................................................................... 178
16.3.4 Operations ............................................................................................................................. 178
16.3.5 Ventilation .............................................................................................................................. 183
16.3.6 Underground Infrastructure Facilities .................................................................................... 183
16.3.7 Cut-off Grades ....................................................................................................................... 185
16.3.8 Underground ......................................................................................................................... 186
16.3.9 Equipment ............................................................................................................................. 186
16.3.10 Production Schedule ......................................................................................................... 186
16.4 QP Comments on “Item 16: Mining Methods” .......................................................................... 186
17.0 RECOVERY METHODS ........................................................................................................... 190
17.1 Process Flow Sheet .................................................................................................................. 190
17.2 Plant Design .............................................................................................................................. 190
17.2.1 Line 1 ..................................................................................................................................... 190
17.2.1.1 Crushing Circuit ............................................................................................................. 190
17.2.1.2 Grinding Circuit .............................................................................................................. 190
17.2.1.3 Wet Circuit ..................................................................................................................... 194
17.2.1.4 Stripping and Dore Production ...................................................................................... 194

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17.2.2 Line 2 ..................................................................................................................................... 194

17.2.2.1 Crushing Circuit ............................................................................................................. 195
17.2.2.2 Grinding Circuit, Single-Stage SAG Mill ........................................................................ 195
17.2.2.3 Wet Circuit ..................................................................................................................... 195
17.2.2.4 Stripping and Dore Production ...................................................................................... 195
17.3 Energy, Water, and Process Materials Requirements .............................................................. 196
17.3.1 Energy ................................................................................................................................... 196
17.3.2 Water ..................................................................................................................................... 196
17.3.3 Process Materials .................................................................................................................. 196
17.4 QP Comments on “Item 17: Recovery Methods” ..................................................................... 196
18.0 PROJECT INFRASTRUCTURE ............................................................................................... 198
18.1 Introduction................................................................................................................................ 198
18.2 Road and Logistics .................................................................................................................... 198
18.3 Port ............................................................................................................................................ 200
18.4 Stockpiles .................................................................................................................................. 200
18.5 Waste Rock Storage Facilities .................................................................................................. 200
18.6 Tailings Storage Facilities ......................................................................................................... 201
18.7 Built Infrastructure ..................................................................................................................... 203
18.7.1 Accommodations ................................................................................................................... 203
18.7.2 Mine Facilities........................................................................................................................ 203
18.8 Power and Electrical ................................................................................................................. 203
18.9 Water Management ................................................................................................................... 204
18.10 Water Supply ............................................................................................................................. 204
18.11 QP Comments on “Item 18: Project Infrastructure”.................................................................. 205
19.0 MARKET STUDIES AND CONTRACTS .................................................................................. 206
19.1 Market Studies .......................................................................................................................... 206
19.2 Commodity Price Projections .................................................................................................... 206
19.3 Contracts ................................................................................................................................... 206
19.4 QP Comments on “Item 19: Market Studies and Contracts” ................................................... 206
20.0 ENVIRONMENTAL STUDIES, PERMITTING, AND SOCIAL OR COMMUNITY IMPACT ..... 208
20.1 Introduction................................................................................................................................ 208
20.2 Baseline Studies ....................................................................................................................... 208
20.3 Environmental Considerations/Monitoring Programs................................................................ 208
20.4 Closure Plan .............................................................................................................................. 209
20.5 Permitting .................................................................................................................................. 211
20.5.1 Open Pit Operations .............................................................................................................. 211

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20.5.2 Underground Operations ....................................................................................................... 212

20.5.3 Tailings Storage Facility ........................................................................................................ 213
20.5.4 Forest Reserves .................................................................................................................... 213
20.6 Considerations of Social and Community Impacts ................................................................... 214
20.7 QP Comments on “Item 20: Environmental Studies, Permitting, and Social or Community
Impacts” .................................................................................................................................................. 215
21.0 CAPITAL AND OPERATING COSTS ...................................................................................... 216
21.1 Capital Cost Estimates .............................................................................................................. 216
21.2 Operating Cost Estimates ......................................................................................................... 217
21.3 QP Comments on “Item 21: Capital and Operating Costs” ...................................................... 218
22.0 ECONOMIC ANALYSIS ........................................................................................................... 220
22.1 Cashflow Analysis ..................................................................................................................... 220
22.2 Comments on Section 22 .......................................................................................................... 220
23.0 ADJACENT PROPERTIES ...................................................................................................... 221
24.0 OTHER RELEVANT DATA AND INFORMATION ................................................................... 222
25.0 INTERPRETATION AND CONCLUSIONS .............................................................................. 223
25.1 Introduction................................................................................................................................ 223
25.2 Mineral Tenure, Surface Rights, Water Rights, Royalties and Agreements ............................. 223
25.3 Geology and Mineralization ....................................................................................................... 223
25.4 Exploration, Drilling and Analytical Data Collection in Support of Mineral Resource Estimation
224
25.5 Metallurgical Testwork .............................................................................................................. 224
25.6 Mineral Resource Estimates ..................................................................................................... 225
25.7 Mineral Reserve Estimates ....................................................................................................... 225
25.8 Mine Plan .................................................................................................................................. 226
25.9 Recovery Plan ........................................................................................................................... 227
25.10 Infrastructure ............................................................................................................................. 227
25.11 Environmental, Permitting and Social Considerations .............................................................. 228
25.12 Markets and Contracts .............................................................................................................. 228
25.13 Capital Cost Estimates .............................................................................................................. 228
25.14 Operating Cost Estimates ......................................................................................................... 229
25.15 Economic Analysis .................................................................................................................... 229
26.0 RECOMMENDATIONS ............................................................................................................. 230
26.1 Introduction................................................................................................................................ 230
26.2 Phase 1 ..................................................................................................................................... 230
26.3 Phase 2 ..................................................................................................................................... 230
27.0 REFERENCES .......................................................................................................................... 232

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TABLES

Table 1-1: Input Parameters, Open Pits ................................................................................21

Table 1-2: Input Parameters, Apensu Deeps ........................................................................23
Table 1-3: Input Parameters, Subika Underground ...............................................................23
Table 1-4: Mineral Resource Statement................................................................................24
Table 1-5: Input Parameters, Open Pits ................................................................................26
Table 1-6: Input Parameters, Subika Underground ...............................................................27
Table 1-7: Mineral Reserves Statement ................................................................................28
Table 1-8: Sustaining Capital Estimate .................................................................................35
Table 1-9: Operating Cost Estimate ......................................................................................35
Table 4-1: Types of Mineral Rights .......................................................................................44
Table 4-2: Ahafo Area Mineral Tenure Table ........................................................................50
Table 4-3: Ahafo South Mineral Tenure Table ......................................................................51
Table 4-4: Royalty Rates under Newmont’s Investment Agreement Stability Period .............53
Table 6-1: Name Changes ....................................................................................................60
Table 6-2: Production History ...............................................................................................61
Table 9-1: Exploration Summary...........................................................................................81
Table 9-2: Stream Sediment Sampling .................................................................................83
Table 9-3: Soil Sampling .......................................................................................................85
Table 10-1: Aircore Drill Summary Table .............................................................................95
Table 10-2: RC Drill Summary Table ...................................................................................97
Table 10-3: Core Summary Table .....................................................................................100
Table 10-4: RC Pre-Collar/Core Tail Summary Table ........................................................100
Table 10-5: Apensu Drill Summary Table ..........................................................................101
Table 10-6: Subika Drill Summary Table ...........................................................................102
Table 10-7: Awonsu Drill Summary Table .........................................................................103
Table 10-8: Amoma Drill Summary Table ..........................................................................104
Table 10-9: Geotechnical and Hydrological Drilling ...........................................................112
Table 10-10: Metallurgical Drilling .......................................................................................113
Table 10-11: Example Drill Intercept Table .........................................................................115
Table 11-1: Specific Gravity Determinations......................................................................120
Table 11-2: Specific Gravity Values Used in Estimation ....................................................120
Table 11-3: Sample Preparation and Analysis ...................................................................122
Table 13-1: Comminution Parameters ...............................................................................139
Table 13-2: Throughput Equations for Line 1 ....................................................................142
Table 13-3: Throughput Equations for Line 2 ....................................................................143
Table 13-4: Apensu Deeps Line 1 Throughput Assumptions .............................................144
Table 13-5: Apensu Deeps Line 2 Throughput Assumptions .............................................144
Table 13-6: Recovery Equations .......................................................................................146
Table 13-7: Ahafo South Recovery Estimates ...................................................................147
Table 13-8: Apensu Deeps Recovery Equations ...............................................................147
Table 14-1: Modelling Parameters ....................................................................................151
Table 14-2: Grade Caps ....................................................................................................152
Table 14-3: Estimation Parameters ...................................................................................155

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Table 14-4: Classification Parameters ...............................................................................156

Table 14-5: Input Parameters, Open Pits ..........................................................................156
Table 14-6: Input Parameters, Apensu Deeps...................................................................157
Table 14-7: Input Parameters, Subika Underground .........................................................158
Table 14-8: Mineral Resource Statement ..........................................................................159
Table 15-1: Input Parameters, Open Pits ..........................................................................163
Table 15-2: Design Parameters, Subika Underground ......................................................165
Table 15-3: Input Parameters, Subika Underground .........................................................166
Table 15-4: Mineral Reserves Statement ..........................................................................167
Table 16-1: Awonsu Geotechnical Assumptions ...............................................................171
Table 16-2: Subika Open Pit Geotechnical Assumptions...................................................172
Table 16-3: Breakeven Cut-off Grades ..............................................................................175
Table 16-4: Equipment List ...............................................................................................175
Table 16-5: Mining Methods ..............................................................................................179
Table 16-6: Subika Underground Cut-off Grades ..............................................................186
Table 16-7: Equipment Requirements ...............................................................................187
Table 17-1: Design Criteria ...............................................................................................192
Table 17-2: Plant Equipment .............................................................................................193
Table 17-3: Process Materials ...........................................................................................197
Table 20-1: Ahafo South Monitoring Programs ..................................................................210
Table 21-1: Sustaining Capital Estimate............................................................................217
Table 21-2: Mining Operating Cost Estimate .....................................................................218
Table 21-3: Process and G&A Operating Cost Estimate ...................................................219
Table 21-4: Operating Cost Estimate ................................................................................219

FIGURES

Figure 2-1: Project Location Plan ...........................................................................................39

Figure 4-1: Ahafo District Mineral Tenure Map .......................................................................48
Figure 4-2: Ahafo South Mineral Licenses Map ......................................................................49
Figure 7-1: Geology of Ghana ................................................................................................63
Figure 7-2: Ahafo Geology Plan .............................................................................................65
Figure 7-3: Cross-Section, Apensu Main ................................................................................69
Figure 7-4: Apensu Deeps Plan View.....................................................................................71
Figure 7-5: Typical Section, Subika........................................................................................73
Figure 7-6: Typical Section, Awonsu ......................................................................................75
Figure 7-7: Typical Section, Amoma ......................................................................................77
Figure 9-1: Stream Sediment Sample Locations ....................................................................84
Figure 9-2: Soil Sample Locations .........................................................................................86
Figure 9-3: Deep-Sensing Geochemistry Sample Locations ..................................................87
Figure 9-4: Airborne Survey Locations ...................................................................................89
Figure 9-5: Ground Gravity and Resistivity Survey Locations .................................................91
Figure 10-1: Aircore Drill Collar Location Plan ......................................................................96
Figure 10-2: RC and Core Collar Location Plan, Ahafo South ..............................................98
Figure 10-3: Apensu Drill Collar Location Plan ...................................................................105
Figure 10-4: Subika Drill Collar Location Plan ....................................................................106

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Figure 10-5: Awonsu Drill Collar Location Plan...................................................................107

Figure 10-6: Amoma Drill Collar Location Plan ...................................................................108
Figure 13-1: Ahafo 12 Months Actual Versus Predicted Throughput Rate ..........................142
Figure 16-1: Schematic Showing Awonsu Geotechnical Domains ......................................171
Figure 16-2: Schematic Showing Subika Open Pit Geotechnical Domains .........................172
Figure 16-3: Final Pit Outline, Subika .................................................................................174
Figure 16-4: Final Pit Outline Awonsu ................................................................................174
Figure 16-5: Mine Development at End 2018 .....................................................................179
Figure 16-6: Central Mining Area Layout Schematic...........................................................180
Figure 16-7: Schematic Showing Mining Methodologies ....................................................181
Figure 16-8: Example Level Layout Schematic by Mining Method ......................................184
Figure 16-9: Production Schedule ......................................................................................188
Figure 16-10: LOM Stockpile Movement ..............................................................................188
Figure 17-1: Ahafo South Process Flow Sheet ...................................................................191
Figure 18-1: Infrastructure Layout Plan, Ahafo South .........................................................199
Figure 18-2: Pit Layout and Waste Rock Storage Facility Location Plan, Ahafo South .......202

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1.0 SUMMARY

1.1 Introduction
Newmont Mining Corporation (Newmont) has prepared this technical report (the Report) on the
Ahafo South Operations (Ahafo Operations or the Project) in the Republic of Ghana (Ghana).
Mr. Donald Doe, Registered Member of the Society for Mining, Metallurgy and Exploration
(RM SME), Group Executive, Reserves at Newmont, is the Qualified Person (QP) for the Report,
as defined in National Instrument (NI) 43-101 Standards of Disclosure for Mineral Projects.
Newmont has three subsidiaries registered under Ghanaian law: Newmont Ghana Gold Ltd.
(NGGL), Newmont Golden Ridge Ltd. (NGRL) and Moydow Limited (Moydow). For the purposes
of this Report, the name Newmont is used interchangeably for the subsidiary and parent
companies.

1.2 Terms of Reference

This Report supports disclosure of Mineral Resources and Mineral Reserves and summarizes the
Project development and current operations. Newmont will use this Report in support of
disclosure and filing requirements with the Canadian securities regulators as specified in Section
4.2 (1) (c) of NI 43-101. This Report will be filed under Newmont’s System for Electronic
Document Analysis and Retrieval (SEDAR) profile.
All measurement units used in this Report are metric unless otherwise noted, and currency is
expressed in American (US$) dollars as identified in the text. The Ghanaian currency is the cedi.
Mineral Resources and Mineral Reserves are reported using the 2014 Canadian Institute of
Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral
Reserves (2014 CIM Definition Standards). The Mineral Reserves are forward-looking
information and actual results may vary. The risks regarding Mineral Reserves are summarized
in the Report (see Section 15.4 and Section 25). The assumptions used in the Mineral Reserve
estimates are summarized in the footnotes of the Mineral Reserve table, and outlined in Section
15 and Section 16 of the Report.
Newmont’s Ahafo interests are divided into two geographical areas, Ahafo South, which has
operating mines and is the subject of this Report, and Ahafo North which will be a separate stand-
alone development and mining operation independent of, and separate from, Ahafo South. For
this reason, Ahafo North is not included in this Report.

1.3 Project Setting

The Project is situated in western Ghana near the towns of Kenyasi and Ntotroso about 290 km
northwest of the Ghanaian capital city of Accra. The Project is about 107 km northwest of Kumasi,
and 40 km south of the regional capital of Sunyani.

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Access to the mining operations site is via asphalt-paved road from Accra to the Tepa Junction
via Kumasi in the direction of Sunyani on Route 6, a distance of approximately 300 km. From
Tepa Junction, an asphalt paved road leads west for 39 km through the villages of Tepa and
Akyerensua to Hwidiem. A paved road then leads northwest for 8 km to the village of Kenyasi.
Newmont constructed a bypass north of Kenyasi to facilitate supply deliveries, and route traffic
around the town for safety reasons.
The Project area falls within the wet semi-equatorial climatic zone of Ghana and is characterized
by an annual double maxima rainfall pattern that produces about 1.4 m of rain annually. Mining
operations in Ahafo South are conducted year-round.
The Project area comprises low rounded hills with elevations ranging from 110 m to 540 m. The
general area consists primarily of subsistence farms with small-scale commercial farming
intermingled with areas of forest regrowth and remnants of secondary forest. The Project area is
located in the upper part of the Tano River basin and is drained by a number of seasonal streams
that are tributary to the Tano River.

1.4 Mineral Tenure, Surface Rights, Water Rights, Royalties and

Agreements
Newmont currently holds three mining licenses (approximately 555 km2), and 13 prospecting
licenses (about 587 km2), totaling around 1,143 km2. The mining leases are current until 2031
and can be renewed by negotiation. The majority of the prospecting licenses have expired, but
there are pending applications with the regulator to have these licenses renewed or extended. A
number of payments are required on either an annual or two-yearly basis to keep the
licenses/leases in good standing. All required payments have been made in a timely manner.
The Ahafo mining lease is separated into two areas, where Ahafo South is in Area A, and Ahafo
North in Area B. Ahafo North is planned to be developed as a stand-alone operation, will not
share infrastructure or facilities with Ahafo South, and is not included in this Report. Within the
Ahafo South area, the mineral title totals 814.27 ha. This consists of 371.87 ha held under mining
lease and 442.4 ha held under prospecting licenses.
All of the Ahafo mining leases were surveyed by Newmont staff, using global positioning system
(GPS) instruments and identifiable benchmarks on topographic maps to locate the boundary
pillars on the ground.
Newmont was granted a Plan of Operations (PoO) for Ahafo South and may use whatever land
is necessary for its operations but must respect the surface rights of other land users in relation
to access and loss of crops, timber, or structures. Newmont’s indenture for surface lands will run
concurrently with the life of the Ahafo South operations, but will extend for no more than 50 years.
The Revised Investment Agreement (the Agreement) between Newmont and the Government of
Ghana defines and fixes, in specific terms, the effective corporate tax and royalty burden the
Project (including Ahafo South and Ahafo North) will carry during operations. The Agreement
establishes a fixed fiscal and legal regime, including fixed royalty and tax rates for the duration of
the Agreement’s stability period. The Agreement was re-negotiated and ratified in December
2015, and again in 2017. Under the Agreement stability period, which now extends until the end

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of 2025, the tax rate will remain at 32.5%. After the cessation of the stability period, the tax rate
will increase to 35%. During the stability period, Newmont will pay gross royalties on gold doré
production in accordance with a sliding scale of 3–5%, tied to the gold price. After the Agreement
ends, the royalty rate will be fixed at 5%.
The Government of Ghana has a 10% free-carried interest in the Project (including Ahafo South
and Ahafo North). Newmont pays the Government of Ghana a ninth of the dividend declared to
Newmont shareholders. Additionally, Newmont is obliged to pay 0.6% of the Project revenue if
the gold price averages US$1,300/oz or more, as an advance dividend against the one-ninth
share. A 2% net smelter return (NSR) royalty is payable to Franco-Nevada Corporation on
production from the Rank mining lease.
Permits granted for the Ahafo South operations include an abstraction permit for groundwater
abstracted from a borehole system for potable water, a permit for abstraction or discharging of
surface water from the water storage facility, a permit for the abstraction of water from the Tano
river during high flow conditions providing supplemental water to the water storage facility. An
abstraction permit for dewatering the Subika, Apensu, and Awonsu pits is also in place. Newmont
decided to discontinue the renewal of the permit to abstract water from the Tano River with effect
from December 2018 and instead, will re-use contact water for the operations.

1.5 Geology and Mineralization

Mineralization discovered to date is consistent with an orogenic gold deposit model.
Mineralization is developed in a Birimian succession that includes the Paleoproterozoic volcano–
sedimentary Sefwi Belt, the Sunyani Basin and the Kumasi Basin. Three granite successions
have intruded the Birimian rocks, including Cape Coast granitoids, Dixcove-type granitoids, and
post-Tarkwaian granitoids.
Dixcove suite or “belt-type” granitoid rocks intrude the contact and are common in the
metavolcanic rocks that form more or less elongate bodies parallel to the regional strike. Regional
structure is controlled by the Kenyasi Thrust Fault; a northeast- to southwest-trending regional
thrust fault that separates the Sefwi Belt from the Sunyani Basin. Mineralization consists of vein-
style gold deposits, hosted in shear zones associated with the Kenyasi Thrust Fault.
Two distinct deposit styles are recognized within the Ahafo South Operations. Kenyasi-style
deposits, comprising Apensu, Awonsu, and Amoma, are associated with the Kenyasi Thrust Fault,
along a sheared thrust contact between Dixcove Suite granitoids and footwall volcano-
sedimentary units. Subika-style mineralization comprises gold that is entirely hosted in Dixcove
granitoids, in the hanging wall of the Kenyasi Thrust Fault. To date, the only recognized deposit
of the style is Subika.
Gold typically occurs as native gold, associated with pyrite. Alteration associated with the
deposits includes silicification, albitization, pyritization, and carbonation.

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1.6 History
Newmont acquired the Ghanaian projects in early 2002, as a result of the takeover from
Normandy Mining Ltd. and associated companies. From 1991 to 1997, Normandy and its
subsidiary companies completed geochemical sampling (sediment and soil), geological mapping,
prospect evaluation and drilling. This work culminated in a feasibility study in 1997. Economic
conditions then prevailing led to a decision to continue drilling and exploration. An updated
feasibility study was completed in 2000. Since acquisition, Newmont has completed a third
feasibility study, undertaken additional environmental, geotechnical and metallurgical studies, and
conducted exploration drilling.
A decision was made to construct a process plant in the Ahafo South area and commence mining
from the Apensu deposit, deferring mining activity in Ahafo North. Concurrent with operations
development, Newmont continued exploration in the Ahafo South area, identifying the Subika
underground mineralization in 2006–2008. The Apensu South deposit was discovered
approximately 1 km south of the Apensu open pit area in November 2013, and the Apensu Deeps
area was located in 2014. An expansion of the Apensu mineralization to the north was identified
in 2016.
A permitted underground trial mining program was conducted at Subika from 2012–2013, with
exploration drilling extending until 2016, when the mine was put on care-and-maintenance. Work
included exploration drilling, drift development, trial mining of four stopes, and collation of data as
to likely geotechnical and hydrological conditions that would be expected during formal mining.
An operating permit was received in 2017, when underground operations recommenced.
Commercial production from Subika underground was achieved in November 2018.
The portions of the Apensu and Amoma deposits amenable to open pit mining are mined out. As
of December 31, 2018, mining is underway at the Subika open pit and the Subika underground
mine. Mining at Awonsu is expected to recommence in late 2019.

1.7 Drilling and Sampling

A total of 9,478 drill holes (approximately 1,646,151 m) were completed within the Project in the
period 1990 to December 2018, including 3,606 core holes (966,489 m), 3,512 reverse circulation
(RC) drill holes (231,595 m), 1,476 RC pre-collar/core tail holes (413,674 m), and 1,154 aircore
drill holes (34,393 m).
Geological logging varies between drill types, but typically includes lithologies, alteration, sulfide
content, oxidation states and presence of water. Core hole logging also records significant
contacts, fractures, veins, and faults, core recovery and rock quality designation (RQD). Except
for the first few meters of individual RC holes, where recovery is typically in the 20–40% range,
recovery is generally about 95–98%. Core recovery is normally 100% except for very rare times
when drilling encounters fault and graphitic shear zones. Collars of drill holes completed prior to
2005 were picked up by surveyors, using optical instruments. Collars of drill holes completed
after that date are picked up by Newmont surveyors, using digital GPS equipment and the mine’s
grid coordinate system which is based on Ghana National Grid. Downhole survey instrumentation
included Welnav™ cameras, multi-shot Sperry-sun™ and Reflex™ single-shot and multi-shot

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downhole survey instruments. Beginning in 2005, RC-holes and the RC portion of pre-collar holes
for core drilling were initially surveyed for azimuth and inclination at 10 m depth. Below 10 m,
surveys were typically taken at 30 m intervals. Core holes at Ahafo South were surveyed at 10–
12 m depth, followed by surveys on 30 m intervals.
Grade control drilling employs blast hole rigs on an approximate 4 m x 4.5 m spacing in both ore
and waste zones. Blastholes are sampled by cutting a trench across the thickest portion of the
cuttings pile and collecting the sample from the trench. Approximately 7 kg of sample is taken
from one side of the trenched walls through the blast hole cuttings. If a duplicate sample is
required from the blasthole, it is taken from the opposite wall of the trench.
In the opinion of the QP, the quantity and quality of the logging, geotechnical, collar and down-
hole survey data collected in the exploration and infill drill programs are sufficient to support
Mineral Resource and Mineral Reserve estimation, and mine planning.
Stream sediment, soil, rock chip and trench samples typically weigh 2–5 kg. Aircore drill samples
were taken on 2 m intervals down hole. RC samples are generally taken on 1 m intervals down
hole. Drill cyclones are cleaned with compressed air as required during rod changes. Core is cut
along marked orientation lines, using a diamond saw. At all deposits the core generally is broken
in sticks >0.25 m in length. Sample widths vary from 0.2–1.5 m, with sample intervals chosen
based on the geologic features of the rock including alteration. Metallurgical samples are
collected systematically through new resource zones to ensure that there are no changes in the
mineralization or host rock characteristics, and that gold recoveries have not changed. For these
samples the remaining half-core sample is cut into halves (quarter of the original core); and a
quarter-core sample is sent for metallurgical testing and a quarter-core left in the box at site.
Occasionally metallurgical samples can consume the entire core.
Density (specific gravity) determinations for Ahafo South were typically performed using water
displacement methods. Currently, the Ahafo South database holds about 5,455 determinations.
QC measurements are performed on a minimum of 5% of samples by an independent external
laboratory.
A number of independent laboratories have been used since 1993, and include:
 Primary laboratories: Transworld Laboratories, Tarkwa, Ghana, and SGS
Laboratories, Bibiana/Tarkwa, Ghana (SGS), ALS Chemex, Kumasi, Ghana, ALS
Chemex Vancouver, Canada, ALS Chemex, Johannesburg, South Africa
(collectively ALS), UltraTrace Laboratory Pty Ltd (UltraTrace);
 Umpire laboratories: ALS Vancouver, Canada, Gencor Laboratories,
Johannesburg, South Africa (Gencor); Inchcape Laboratory, Obuasi, Ghana
(Inchcape); Genalysis Laboratories, Perth, Australia (Genalysis); Anglo-American
Research Laboratories, Johannesburg (AARL); Omac Laboratories, Ireland (Omac);
and Performance Laboratories, Johannesburg (Performance).
SGS was the primary laboratory for all drill programs for the period June 2003 to 2010. In addition
to SGS, ALS Chemex (ALS) has provided laboratory services to Newmont Ghana from 2010 to
date, and has used branch laboratories in various locations, including ALS Kumasi, ALS
Vancouver and ALS Johannesburg. Both SGS and ALS are independent laboratory groups that

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operate globally, and the SGS/ALS laboratories used for the Project are accredited to
ISO/IEC17025. Currently, ALS Kumasi is the primary laboratory used for the Ahafo North
deposits and SGS Ahafo is the primary laboratory used for the Ahafo South deposits. The on-
site mine laboratory, SGS Ahafo, is used to prepare and analyze grade control, and metallurgical
samples. It is also used as the sample preparation and analysis facility for
exploration/development drill holes; there is a separate sample preparation site that has dedicated
equipment and is only used to process exploration samples. The on-site mine laboratory holds
ISO/IEC17025 accreditation.
Sample preparation procedures varied by sample type. Soil, rock chip, pit, aircore, and RC
samples were crushed to either a nominal 90% passing -2 mm size fraction or a nominal 90%
passing -3 mm size fraction. All samples were pulverized to a nominal 90% passing -75 µm.
Core samples were crushed to a nominal 90% passing -2 mm size fraction, then pulverized to a
nominal 95% passing 75 µm. Analytical methods employed included inductively-coupled plasma
mass spectrometry (ICP-MS), atomic absorption spectrometry (AAS), and fire assay with an AAS
finish.
Quality assurance and quality control (QA/QC) programs included insertion of standard reference
materials (standards), blanks, and duplicate samples, with the insertion frequencies varying over
time. Since 2012, Newmont programs have included blank insertion rates of 1:100, standards at
1:50, and duplicate samples at 3:100, such that overall, 5% of the samples submitted are quality
control materials. Sieve tests are performed by the laboratory at the rate of 1:20. About 1% of
sample pulps, representing metal grades across the range typical for the deposit being evaluated,
are sent to an umpire laboratory. A monthly report on the QA/QC, CRM, and blank sample results
is completed by the project geologist or the database manager. In addition, the laboratory
provides a monthly performance report.
All drilling-related data are stored on a Microsoft SQL™ server engine which supports multi-user
access. The database is administered by a dedicated database manager. Digital data are
regularly backed up. Copies of the digital database are securely stored offsite.
Sample collection, preparation, and transportation have always been performed by Newmont
personnel using Newmont vehicles, or by the relevant commercial laboratory vehicle. Chain-of-
custody procedures consist of sample submittal forms sent to the laboratory with sample
shipments to make certain that all samples are received by the laboratory. Core, RC chips, and
pulps are stored in fenced-off areas and only authorized persons are allowed access. The core
shed storage areas are fenced, and security is provided permanently by the company.
In the opinion of the QP, the sample preparation, analysis, and security methods and protocols
are acceptable, meet industry-standard practices, and are adequate for Mineral Resource and
Mineral Reserve estimation and mine planning purposes.

1.8 Data Verification

Newmont includes both internal and third-parties in the data verification steps:
 Internal verification: laboratory inspections; review of geological procedures,
resource models and drill plans; sampling protocols, flow sheets and data storage;

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specific gravity data; logging consistency, down hole survey, collar coordinate and
assay QA/QC data; geology and mineralization interpretation;
 Internal audits: annual assay data reviews by the Newmont Chief Geochemist,
including reviews of laboratory procedures and coordinating umpire comparisons;
2017 review of the entire Ghana GED database; 2005, 2006, 2009 Five Star audits
of Mineral Resources and Mineral Reserves, 2016 and 2018 Reserve and Resource
Review audits of Mineral Resources and Mineral Reserves
 External verification: 2000 review of feasibility study database by SRK Consulting;
2003 review of sampling methodology by AMEC Americas Ltd (AMEC); 2014 review
of the Subika July 2014 Mineral Resource by Optiro Pty Ltd; 2016 review of year-
end 2015 Mineral Resource and Mineral Reserve estimates by AMEC.
Data verification for the Project was performed by Newmont personnel and external consultancies
contracted by Newmont. The QP, who relies upon this work, reviewed the reports and is of the
opinion that the data verification programs ensure that the data collected from the Project are
adequately accurate and error-free to support geological interpretations and Mineral Resource
and Mineral Reserve estimation, and in mine planning.
Observations made during the QP’s site visit, in conjunction with discussions with site-based
technical staff also support the QP’s conclusion that Newmont’s processes for geological
interpretations, and analytical and database quality are being followed and are under control. The
QP receives and reviews monthly reconciliation reports from the mine site. Through the review
of these reconciliation factors the QP is able to ascertain the quality and accuracy of the data and
its suitability for use in the assumptions underlying the Mineral Resource and Mineral Reserve
estimates.

1.9 Metallurgical Testwork

Testwork completed at Ahafo South included: mineralogy, Bond, rod and ball mill work indices,
abrasion indices and JKTech drop weight comminution parameters, grind size assessments, heap
leaching, gravity concentration, cyanide leaching, reagent consumption, determination of
thickening and slurry pumping characteristics, tailings geochemistry, and rheology tests.
The throughput models for Ahafo South assume plant availability of 91.3%. The plant is expected
to process 69 kt of oxide material in 2019 and 1,131 kt in 2020. No oxide will be processed from
2020 to the end of the mine life. Throughput is projected to average 7.3 Mt/a up to 2019, then
9.7 Mt/a to 2030 with the addition of a single-stage semi-autogenous grind (SAG) mill that will be
completed in 2019, with 7.6 Mt produced in 2031, the last year of the mine life. Processing of
Subika underground ore through the existing process plant started in May 2017. Life-of-mine
(LOM) plan (LOMP) recoveries in primary mineralization are estimated at 84.9% for Apensu,
92.8% for Subika, 86.1% for Awonsu and 88.1% for Amoma. Stockpiles are assigned the same
metallurgical recovery as their source deposit. There are no deleterious elements that affect
processing or the final doré product.

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1.10 Mineral Resource Estimation

Block models are built with cell dimensions that are appropriate to the deposit style, orientation
and dimensions of the mineralization. Selectivity during mining, mining method, equipment size
and bench height were considered when determining parent cell size. Subika underground and
Apensu Deeps models use sub-blocks to better represent volumes of thin, high-grade
mineralization. All other block models intended for open pit mining are full cell models. Grade
estimation is performed at the parent cell level and sub-blocks take the grades of corresponding
parent blocks. For open pit resource models, where grade control information (blasthole assays)
is available, the grade estimation parameters are determined through calibration against a grade–
tonnage curve derived from re-blocked grade control models. For underground resource models
where no grade control information is available (Apensu Deeps and Subika underground),
estimation is geared towards minimizing conditional bias and generation of a high-quality local
estimate.
Results of exploratory data analysis were used to guide the construction of the block model and
the development of estimation plans. Grade caps were generally determined from cumulative
probability plots. Capped domain grades ranged from 4–40 g/t Au. Density values were assigned
to the block model based on oxidation surfaces. Composite lengths vary by deposit, ranging from
2–8 m. Commercially-available Sage2001™ and Supervisor™ software were used to compute
experimental multi-directional correlograms and to fit theoretical models.
All Ahafo South deposits are estimated using ordinary kriging (OK) interpolation methods. Grade
estimations were selective by mineralization domains in most cases and restricted within a
+0.2 g/t Au grade shell for open pit models and +2.0 g/t Au for underground models. The
underground models (Subika underground and Apensu Deeps) were constrained within their
mineralized shapes. Depending on the deposit, the minimum and maximum numbers of samples
required to estimate a block (by domain) ranged from one to 30. Based on the relationships
observed in the different variogram ranges, octant restrictions were implemented. Sample
searches were tailored in such a manner that three to four drill holes were included along the
strike of the ellipsoid, two to three drill holes were included perpendicular to strike and one to two
composites were selected in the cross-plane direction. The high-yield method was employed
during the Subika open pit update to avoid using high-grade samples when estimating distant
blocks.
Block models were validated using visual inspection, swath plots, nearest-neighbor model
comparisons, and Hermitian correction (Herco) plots. Calibration to historical production was also
used as a check for the Subika, Awonsu and Apensu open pits.
The classification of Measured, Indicated, and Inferred confidence categories is based on results
of drill hole spacing simulation studies.
Mineral Resources that are considered amenable to open pit mining methods are reported within
conceptual pit designs based on Lerchs–Grossmann (LG) pit shells using the cut-off criteria
outlined in Table 1-1.

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Table 1-1: Input Parameters, Open Pits

Apensu Apensu
Parameters Oxidation Units Subika Awonsu
Main South
Gold price US$/oz 1,400 1,400 1,400 1,400
Royalty rate % 5 4 3 3
Royalty US$/oz 70 56 42 42
Refinery and
US$/oz 1.8052 1.8052 1.8052 1.8052
carbon handling
Discount rate % 0 0 0 0
saprolite US$/t mined 3.41 3.41 3.41 3.41
Mining cost transition +
US$/t mined 3.84 3.84 3.84 3.84
fresh rock
saprolite US$/t mined/bench 0.025 0.025 0.025 0.025
Mining cost incremental transition +
US$/t mined/bench 0.025 0.025 0.025 0.025
fresh rock
Waste rehabilitation cost US$/t mined 0.12 0.12 0.12 0.12
saprolite US$/t processed 16.73 16.61 16.53 16.47
Process and G&A cost transition +
US$/t processed 21.45 21.67 21.50 21.60
fresh rock
saprolite % 95 95 95 95
Metallurgical
recovery transition +
% 93 87 89 89
fresh rock
saprolite +
degrees 30 30 30 30
transition
fresh rock
Pit slope angles degrees 55 34–45 36–48 36–48
footwall
(IRA)
fresh rock
hanging degrees 55 50–52 51 51
wall
Note: G&A = general and administrative. Apensu Main and Apensu South are names used for portions of the Apensu open pit in
this context.

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Variable incremental cut-off grades that range from 0.42–0.43 g/t Au in saprolite to 0.55–0.62 g/t
Au in transition/fresh material were used in the inputs.
Mineral Resources considered amenable to underground mining methods are reported within
conceptual stope designs, using the cut-off criteria outlined in Table 1-2 (Apensu Deeps) and
Table 1-3 (Subika underground).

1.11 Mineral Resource Statement

Mineral Resources are reported in Table 1-4, using the 2014 CIM Definition Standards, and have
an effective date of 31 December 2018.
The Mineral Resource estimates for Ahafo South were prepared by the following Newmont
employees:
 Open pit estimates: Mr. Robert Owusu-Bempah, RM SME;
 Subika underground estimate: Mr. Ralf Kintzel, RM SME;
 Apensu Deeps estimate: Mr Mark Ramirez, RM SME.
The QP taking responsibility for the Mineral Resource estimates is Mr. Donald Doe, RM SME,
Group Executive, Reserves, an employee of Newmont.
Mineral Resources are reported exclusive of Mineral Reserves on a 100% basis. The
Government of Ghana has a 10% free-carried interest in the Project. Newmont has a 90%
interest. Mineral Resources that are not Mineral Reserves do not have demonstrated economic
viability.
Factors that may affect the Mineral Resource estimate include: changes to long-term metal price
assumptions; changes in local interpretations of mineralization geometry and continuity of
mineralized zones; changes to geological and grade shape and geological and grade continuity
assumptions; changes to input parameters used in the pit shells and stope outlines constraining
the Mineral Resources; changes to the cut-off grades used to constrain the estimates; variations
in geotechnical, mining, and processing recovery assumptions; and changes to environmental,
permitting and social license assumptions.

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Table 1-2: Input Parameters, Apensu Deeps

Economic Parameters Zone Units Values

Gold price US$/oz 1,400
Royalty rate % 5.5
Refinery and carbon handling US$/oz 6.22
Discount rate % 9
Mining cost US$/t mined 93.52
Process cost US$/t processed 16.59
G&A cost US$/t processed 1.57
Metallurgical recovery Main zone % 88
Cut-off grades g/t 2.5–3.5
Note: metallurgical recovery figure is the percentage used in stope design, and differs slightly from the LOMP percentage
assumption. G&A = general and administrative

Table 1-3: Input Parameters, Subika Underground

Economic Parameters Zone Units Values

Gold price US$/oz 1,400
Royalty rate % 5.5
Refinery and carbon handling US$/oz 2.80
Discount rate % 0
Mining cost US$/t mined 112.98
Process cost US$/t processed 20.74
G&A cost + site sustaining US$/t processed 2.61
Metallurgical recovery Central zone % 94
Metallurgical recovery North zone % 94
Metallurgical recovery South zone % 94
Cut-off grade g/t 3
Note: G&A = general and administrative

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Table 1-4: Mineral Resource Statement

Measured Indicated Measured and Indicated Inferred

Cont. Cont. Cont. Cont.
Area Tonnage Grade Gold Tonnage Grade Gold Tonnage Grade Gold Tonnage Grade Gold
(x 1,000 t) (g/t Au) (x 1,000 (x 1,000 t) (g/t Au) (x 1,000 (x 1,000 t) (g/t Au) (x 1,000 (x 1,000 t) (g/t Au) (x 1,000
oz) oz) oz) oz)
Ahafo open pits 1,400 0.59 30 25,400 1.21 990 26,800 1.18 1,020 9,600 1.54 480
Ahafo underground 0 0.00 0 9,900 4.80 1,530 9,900 4.80 1,530 12,200 4.47 1,740
Total Ahafo South 1,400 0.59 30 35,300 2.22 2,520 36,700 2.16 2,550 21,800 3.17 2,220
Notes to Accompany Mineral Resource Table:

1. Mineral Resources have an effective date of 31 December, 2018, and are reported using the 2014 CIM Definition Standards. The Qualified Person responsible for the estimate is
Mr. Donald Doe, RM SME, Group Executive, Reserves, a Newmont employee.
2. Mineral Resources are reported on a 100% basis. Newmont holds a 90% interest and the Government of Ghana has a 10% free-carried interest.
3. Mineral Resources are reported exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
4. Mineral Resources that are amenable to open pit mining methods are reported within a designed pit shell. Parameters used include a gold price of US$1,400/oz, royalty rates that
vary from 3–5% resulting in variable royalty payments from US$42–US$70/oz Au, refinery and carbon handling charges of US$1.80/oz Au, a variable mining cost depending on
material, of US$3.41/t mined in saprolite and US$3.84 in transition/fresh material, variable process and general and administrative (G&A) costs by deposit and material ranging from
US$16.47–US$21.67/t processed; variable metallurgical recoveries based on deposit and mineralization type that range from 87–95%, and pit slope inter-ramp angles that range
from 30–55º. The estimates are reported at variable incremental cut-off grades that range from 0.42–0.43 g/t Au in saprolite to 0.55–0.62 g/t Au in transition/fresh material.
5. Mineral Resources that are amenable to underground mining methods are reported within conceptual stope designs. Parameters used include a gold price of US$1,400/oz, a 5.5%
royalty rate, refinery and carbon handling charges of US$6.22/oz Au (Apensu Deeps) and US$2.80 (Subika); mining cost of US$93.52/t mined (Apensu Deeps) and US$112.98/t
mined (Subika); processing costs of US$11.59 t/processed (Apensu Deeps) and US$20.74/t processed (Subika); G&A costs of US$1.57/t processed (Apensu Deeps) and US$2.61/t
processed (Subika); and metallurgical recoveries of 88% (Apensu Deeps) and 94% (Subika). The estimates are reported at variable cut-off grades to accommodate different mining
methods, and range from 2.5–3.5 g/t Au (Apensu Deeps) and 3 g/t Au (Subika).
6. Tonnages are metric tonnes rounded to the nearest 100,000. Gold grade is rounded to the nearest 0.01 gold grams per tonne. Gold ounces are estimates of metal contained in
tonnages and do not include allowances for processing losses. Contained (cont.) gold ounces are reported as troy ounces, rounded to the nearest 10,000.
7. Rounding of tonnes and contained metal content as required by reporting guidelines may result in apparent differences between tonnes, grade and contained metal content. Due to
rounding, some cells may show a zero (“0”).

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1.12 Mineral Reserve Estimation

Geovia’s Whittle™ pit optimization program (Whittle 4.7.1) was used to perform a LG optimization
in support of Mineral Reserves reporting for mineralization amenable to open pit mining methods.
A safety crown pillar of 25 m is planned between the base of the Subika Phase 4 pit and the top
of the Subika underground stopes. This pillar will not be mined and thus makes Phase 4 the final
open pit limit for the Subika deposit. All Inferred blocks are classified as waste in the cashflow
analysis that supports Mineral Reserve estimation.
The generated nested pit shells were evaluated using the reserve gold price of US$1,200/oz and
a 9% discount rate. The pit shells with the highest NPV have been selected for detailed
engineering design work. Input parameters to the pit shells are provided in Table 1-5.
Operating costs for mining, processing, site and Accra administration were developed as part of
the 2019 business plan (BP19) process. The costs build-up for BP19 are based on actual values
as at the end of April 2018, as well as inclusion of a number of projected cost-saving measures
and efficiency gains. Costs are un-escalated.
All operating pits at Ahafo South are mined on 8 m benches. The Subika model is a 12 m x 12 m
x 8 m model to account for the 8 m mining. Block models for Awonsu, however, are produced
using a 10 m x 10 m x 8 m block dimension to reflect the increased selectivity in ore zones.
The Subika underground mining operations are split into two areas:
 The Upper mining zone, above the 840 relative level (RL); also known as the upper
Yoda area;
 The Central mining zone (corridor) below the 840 RL; also referred to as the Central
area.
The mine plan assumes the use of a number of different mining methods, including:
 Sub-level open stope (SLOS): to be used above 840 RL;
 Long-hole open stope retreat (LHOSR): to be used above the 750 RL in the Central
zone;
 Long-hole retreat with rockfill (LHSRF): to be used in the transition zone between
the 750 and 665 RLs in the Central zone;
 Single lens retreat (SLR): to be used below the 665 RL in the Central zone, and in
the North and South mining zones; stopes will be paste-filled.
Stopes were created using Datamine’s Mineable Shape Optimizer™ (MSO) software at the
required stope height, length and cut-off criteria based on the mine area. The stope widths
depend on the stope cut-off and dilution (over-break) added to stope design, and the mining
method used. A stope recovery of 90% is expected in all mining areas. Dilution is projected to
be 7.6%. Other key parameters used in stope design are provided in Table 1-6.

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Table 1-5: Input Parameters, Open Pits

Apensu Apensu
Parameters Oxidation Units Subika Awonsu
Main South
Gold price US$/oz 1,200 1,200 1,200 1,200
Royalty rate % 5 4 3 3
Royalty US$/oz 60.00 48.00 36.00 36.00
Refinery and carbon
US$/oz 1.8052 1.8052 1.8052 1.8052
handling
Discount rate % 9 9 9 9
saprolite US$/t mined 3.41 3.41 3.41 3.41

Mining cost transition

+ fresh US$/t mined 3.84 3.84 3.84 3.84
rock
saprolite US$/t mined/bench 0.025 0.025 0.025 0.025

Mining cost incremental transition

+ fresh US$/t mined/bench 0.025 0.025 0.025 0.025
rock
Waste rehabilitation cost US$/t mined 0.12 0.12 0.12 0.12
saprolite US$/t processed 16.73 16.61 16.53 16.47

Process & G&A cost transition

+ fresh US$/t processed 21.45 21.67 21.50 21.60
rock
saprolite % 95 95 95 95

Metallurgical recovery transition

+ fresh % 93 87 89 89
rock
saprolite
+ degrees 30 30 30 30
transition
Pit slope angles fresh rock
degrees 55 34–45 36–48 36–48
(IRA) footwall
fresh rock
hanging degrees 55 50–52 51 51
wall

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Table 1-6: Input Parameters, Subika Underground

Economic Parameters Zone Units Values

Gold price US$/oz 1,200
Royalty rate % 5
Refinery and carbon handling US$/oz 2.80
Discount rate % 9
Mining cost US$/t mined 118.29
Process cost US$/t processed 20.74
G&A cost + site sustaining US$/t processed 1.96
Cut-off grades g/t 2.6–3.3

1.13 Mineral Reserve Statement

Mineral Reserves are reported on a 100% basis in Table 1-7, using the 2014 CIM Definition
Standards, and have an effective date of 31 December 2018. Mineral Reserves are reported
using variable cut-off grades, that vary by deposit and by material type. Mineral Reserves are
reported on a 100% basis. Newmont holds a 90% interest and the Government of Ghana has a
10% free-carried interest.
Mineral Reserves for Ahafo South were estimated by Mr. Robert Owusu-Bempah RM SME (open
pit estimates) and Mr. Ralf Kintzel RM SME (Subika underground estimate), each of whom is a
Newmont employee.
The QP taking responsibility for the Mineral Reserve estimates is Mr. Donald Doe, RM SME,
Group Executive, Reserves, an employee of Newmont.
Factors that may affect the Mineral Reserve estimates include: changes to the gold price
assumptions; changes in the metallurgical recovery factors; changes to the operating cut-off
assumptions for mill feed or stockpile feed; changes to the input assumptions used to derive the
open pit and stope outlines and the mine plan that is based on those open pit and stope designs;
changes to operating, and capital assumptions used, including changes to input cost assumptions
such as consumables, labor costs, royalty and taxation rates; variations in geotechnical,
hydrogeological, dilution and mining assumptions; including changes to pit phase or stope
designs as a result of changes to geotechnical, hydrogeological, and engineering data used;
changes to the assumed permitting and regulatory environment under which the mine plan was
developed; ability to maintain mining permits and/or surface rights; ability to permit the expanded
TSF and obtain the operations certificate for current and future underground operations; ability to
maintain social and environmental license to operate.

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Table 1-7: Mineral Reserves Statement

Proven Probable Proven and Probable

Cont. Cont. Cont.
Area Tonnage
Tonnage Grade Gold Tonnage Grade Gold Grade Gold
(x 1,000
(x 1,000 t) (g/t Au) (x 1,000 (x 1,000 t) (g/t Au) (x 1,000 (g/t Au) (x 1,000
t)
oz) oz) oz)
Ahafo open pits 15,900 2.40 1,230 48,700 1.83 2,870 64,600 1.97 4,100
Ahafo stockpiles 38,000 0.92 1,130 0 0.00 0 38,000 0.92 1,130
Ahafo underground 0 0.00 0 7,500 4.74 1,150 7,500 4.74 1,150
Total Ahafo South 53,900 1.36 2,360 56,200 2.22 4,020 110,100 1.80 6,380
Notes to Accompany Mineral Reserves Table:

1. Mineral Reserves are reported with an effective date of 31 December, 2018, using the 2014 CIM Definition Standards. The Qualified Person
responsible for the estimate is Mr. Donald Doe, RM SME, Group Executive, Reserves, a Newmont employee.
2. Mineral Reserves are reported on a 100% basis. Newmont holds a 90% interest and the Government of Ghana has a 10% free-carried interest.
3. Mineral Reserves that are estimated using open pit mining methods are constrained within an optimized Lerchs–Grossmann pit shell. Parameters
used include a gold price of US$1,200/oz, variable royalty rates that range from 3–5% resulting in royalty payments that range from US$36–60/oz
Au; refinery and carbon handling charges of US$1.80/oz Au, a variable mining cost based on material mined of US$3.41/t mined in saprolite to
US$3.84/t mined in transition/fresh material; processing and general and administrative (G&A) costs that are variable by deposit and material,
ranging from US$16.47–US$21.67/t processed; variable metallurgical recoveries based on mineralization type that range from 87–95%; and pit
slope inter-ramp angles that vary from 30–55º. The estimates are reported at variable incremental cutoff grades that are no less than 0.64 g/t Au,
which correspond to break-even cut-off grades that range from 0.74–0.80 g/t Au.
4. Mineral Reserves estimated using underground mining methods are constrained within stope designs. Parameters used include a gold price of
US$1,200/oz, 5% royalty rate, refinery and carbon handling charges of US$2.80/oz Au, a mining cost of US$118.29/t mined, process cost of
US$20.74/t processed, general and administrative cost of US$1.96/t processed; a metallurgical recovery of 94%; a stope recovery of 90% and
dilution assumptions of 7.6%. The estimates are reported at variable stoping incremental cutoff grades no less than 2.2 g/t Au, which correspond
to a life-of-mine average incremental stoping cutoff grade of approximately 3.3 g/t Au.
5. Tonnages are metric tonnes rounded to the nearest 100,000. Gold grade is rounded to the nearest 0.01 gold grams per tonne. Gold ounces are
estimates of metal contained in tonnages and do not include allowances for processing losses. Contained (cont.) gold ounces are reported as troy
ounces, rounded to the nearest 10,000.
6. Rounding of tonnes and contained metal content as required by reporting guidelines may result in apparent differences between tonnes, grade and
contained metal content. Due to rounding, some cells may show a zero (“0”).

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1.14 Mining Methods

1.14.1 Open Pit Considerations

Open pit design for the Project uses defined geotechnical domains together with rock mass quality
ratings for the principal lithology and appropriate pit design criteria that reflect expected conditions
and risk. Both Newmont’s Geotechnical Engineering Department and external consultants have
completed geotechnical studies and provided the geotechnical recommendations that form the
basis for pit designs. A ground control management plan was developed, and is updated on an
annual basis.
The active pits are currently mining below the water table. Pit dewatering is accomplished using
a combination of perimeter dewatering wells, in-pit sumps, and horizontal drains. A network of
monitoring piezometers is installed around all of the operating pits.
Pit design assumptions include haul road widths for two-way travel of 30 m, maximum ramp
grades of 10% and minimum pit-bottom widths of 40 m in deep pits as a safety measure.
Operations use a standard drill-and-blast, truck-and-shovel configuration. Cut-off grades
increase as the distance of the deposit from the plant increases. Truck, drill and support
equipment fleet size is variable, based on considerations such as the number and location of the
pits in operation and haul distances.
The primary source of ore for 2019 will be from stockpiles and the third phase (Phase 3) of the
Subika open pit. Subika mining will constitute stripping of large quantities of waste from pit
Phase 4. Mining is planned to start in the Awonsu Phase 3 pit in the last quarter of 2019. Mining
will be completed in Subika by 2024, while Awonsu Phase 4 will be the last pit to be completed in
2029.

1.14.2 Underground Considerations

Underground development openings were mined at Subika between 2010 and 2013, as part of a
significant exploration program. During this trial-mining phase, two portals, three ventilation
raises, a decline, a single spiral decline, three operating levels, an exploration drive, and four trial
stopes were established.
Initial geotechnical considerations were based on information available in 2013. In 2018, the
geotechnical setting of the Subika underground operations was re-evaluated, based on
information obtained from additional infill drilling, mapping in new mine development, and
additional in situ stress measurement programs. The updated information indicated that a
revision to the mine plan was required such that mining methods that did not include use of fill
materials should not be conducted at depths below about 450 meters below surface (mbs).
The Ahafo South conceptual model has minimal communication between known shallow and
deep aquifers. Flow in the deep aquifers is controlled by fracture flow. Hydrology studies are
continually updated to determine the water quantities that may be experienced in the Subika
orebody. The most recent study, completed in 2016, predicts ground water inflows of
approximately 45 L/s, and the Subika dewatering system capacity is around 100 L/s.

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Mining levels are based on the mining method to be used. The current LOMP is for a truck
haulage mine with all material to be hauled via the North portal.
Mining operations in the SLOS zone will use existing infrastructure and spirals created on a 40 m
level spacing to access the stopes. These stopes are mined from the lowest stope level upward
in stope groups to create large open stopes. The ore on these levels is loaded directly onto trucks,
hauled up the existing main decline to the surface and placed on stockpiles. Surface haulage
equipment transports stockpiled material to the process plant.
To access the lower ore, below the 840 RL, a set of twin declines will be developed from the
existing main haulage decline. The twin declines will be developed as a figure eight or elongated
spiral configuration with one full rotation at 50 m intervals. The declines will be connected via a
link drive that will act as a ventilation, escapeway and haulage connection between the two
declines.
Both declines will act as a primary ventilation circuit with fresh air. Additional ventilation will be
sourced through fresh air ventilation raises connected at the link drives and the foot wall drives
below the 750 RL. The fresh air raise will deliver refrigerated air from the surface refrigeration
system. The return air will be taken from the access drives above the 750 RL and from the ends
of the foot wall drives below the 750 RL, using return air raises connected to the main fans at the
surface and portal 3.
The ventilation system for Subika includes refrigeration, primary and secondary fans and intake
and return ventilation raises.
Electrification of the operation is necessary to allow the application of high performance electric
hydraulic development and production drilling equipment, as well as other ancillary necessities
such as electric pumps for dewatering and ventilation fans and infrastructure. The mine requires
refrigeration.

1.14.3 Equipment
The open pit mining fleet is not automated. A semi-automated mining fleet is used for
underground operations.
Open pit mining is Owner-performed with Newmont-owned equipment. Mining contracts for the
underground operations stipulate the mining equipment brought to site by the mining contractor.
Surface facilities and underground mine facilities are operated and maintained by mining
contractors.
Equipment is conventional and is typical of equipment types used in open pit and underground
mining in the industry.

1.15 Recovery Methods

The process plant flowsheet design was based on testwork results, previous study designs and
industry standard practices for handling combinations of fresh rock and saprolite.
The process plant uses conventional equipment and technology. It started operations in 2006
and was designed to treat 7.5 Mt/a using a blend of 27:73 oxide to primary ore. Actual throughput

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for the remaining LOM is projected to vary from 7.3–10.6 Mt/a (904–1,336 t/hr), depending on the
ore blend from the pits and underground operations. The throughput increase requires installation
of the Ahafo mill expansion (AME) project, also known as Line 2. Newmont does not consider
the AME project to be a material increase to current production.
The process route commences with single stage primary crushing fed by direct truck dump or
front-end loader for crushing of primary ores onto a live crushed stockpile. This material is fed
from the live crushed stockpile directly onto the Line 1 semi-autogenous grind (SAG) mill feed
conveyor by apron feeder. An MMD-sizer™ is fed by front-end loader for treatment of oxide ore,
which is fed directly onto the SAG mill feed conveyor. SAG milling is conducted with pebble
crushing of the scats. Crushed pebbles return to the SAG mill feed conveyor. This is followed by
closed-circuit ball milling to a P80 size of 106 µm. This is in turn followed by leach feed thickening
and 10 carbon-in-leach (CIL) tanks with gold recovery from solution using activated carbon. An
18 t Anglo American Research Laboratory method (AARL) elution circuit is used to strip gold from
loaded carbon. Pregnant solution from the elution circuit reports to the gold room pregnant
solution tank. Electrowinning of pregnant solution is conducted using stainless-steel cathodes,
and the sludge collected from the stainless-steel cathodes is smelted in a furnace to produce
doré. A counter-current decantation (CCD) circuit was commissioned in 2008 to recover cyanide
from CIL tailings prior to discharge to the TSF. Recovered cyanide is effectively re-used in the
CIL circuit and weakly acid-dissociable cyanide (CNWAD) levels in the plant tailings are effectively
controlled to ensure discharge limit of 50 ppm CNWAD is not exceeded.
The AME project will expand the existing plant by 3.5 Mt/a through the installation of a new primary
gyratory crusher, single-stage SAG mill, and three additional leach tanks. The inclusion of the
AME project is anticipated to reduce the overall process operating cost of the combined plant by
3–5% over the LOM. The Line 2 comminution circuit will be independent of the existing Line 1
crushing and grinding circuit.
Consumables used include reagents, and high- and low-pressure air. The main water sources
for the process plant are from stored water in the mined out Apensu open pit and the TSF. Potable
water is sourced from boreholes. The Line 1 installations require approximately 30 MW of power
to operate at full capacity. Line 2 is expected to draw about 15 MW of power when it becomes
operational in late 2019. The site has an emergency backup generation plant consisting of seven
3.9 MW high speed GE generators which together are capable of producing about 27.3 MW of
supplemental power.

1.16 Project Infrastructure

Infrastructure supporting the Ahafo South operations includes: completed open pit mines at
Apensu and Amoma; open pit mines at Awonsu and Subika; an underground mine at Subika; five
waste rock storage facilities (WRSFs); five stockpiles; the process plant; TSF; water storage
facility; reverse osmosis water treatment facility; sediment control structures; residential camp;
mine accommodations village; and various support facilities such as administration offices and
workshops.
The current TSF was constructed in the Subri stream drainage. The northern upstream
embankment serves as a downstream dam for a water storage facility. The TSF is operated as
a zero-discharge facility; all water is returned to the process facility for reuse. The main
embankment was constructed in stages. The 100 Mt storage capacity of the existing TSF will be

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filled by the end of the third quarter of 2019. Newmont has evaluated a number of storage
capacities for an expanded TSF and selected a hybrid option, whereby the TSF will be raised
vertically, and extended horizontally. A 240 Mt design capacity for the expanded facility
accommodates the deposition requirements for the mill expansion and Subika underground
projects and provides an additional 23 Mt for potential future mining operations. An environmental
impact statement was prepared and submitted to the relevant Ghanaian authorities.
Newmont Africa in Ghana receives power purchased from the Volta River Authority’s (VRA)
electricity generation thermal facilities near the Ghanaian coast and at the Akosombo Dam
hydroelectric facility. Three separate 161 kV transmission lines feed into the Ahafo (Kenyasi)
Substation and supply sufficient power to satisfy Ahafo’s current peak start-up power demand of
about 35 MW, as the capacity of each of these lines is approximately 120 MW. Newmont has
emergency power generating capacity consisting of 27 MW at Ahafo South to meet any power
challenges.
Process water is sourced from a cross-valley embankment dam upstream from the TSF, which
impounds water from a 28 km2 area of the Subri stream watershed. Surface run-off water is
diverted by means of channels into five environmental control dams, or to natural drainage down
gradient from disturbed areas. Water supplies are sufficient for current and planned development
needs. The Ahafo mine operates with an excess water balance resulting from the accumulation
of seasonal rainfall contacting with the mining operation. The excess is stored in the mined-out
Apensu pit.

1.17 Environmental, Permitting and Social Considerations

Baseline studies were completed in support of Project environmental permitting. Monitoring
programs are in place and include, or are planned to include, areas such as air, surface water
and groundwater quality, pit lakes, soil reclamation, and potentially acid-generating (PAG)
materials. Newmont employs an environmental department located on site. Areas of productive
Forest Reserves are designated in the vicinity of the Ahafo South operations area. These areas
include the Bosumkese Forest Reserve and the Amoma Shelterbelt Forest Reserve. Newmont
has adopted a three-part research program to assess impacts on the forests.
The Ahafo South operations are currently permitted for open pit mining operations at the Subika,
Apensu, Awonsu, and Amoma pits. An Environmental Impact Statement (EIS) for the open pit
mining operations at Ahafo South was submitted to the Ghana Environmental Protection Agency
(EPA) in September 2004 and subsequently Environmental Permit (Number EPA/EIA/143) was
approved in April 2005 (Environmental Permit (Number EPA/EIA/143). An Environmental
Certificate following the submittal of an Environmental Management Plan (EMP) was approved in
February 2008, authorizing Newmont Ghana Gold Limited to continue the Mining Project within
the Project South Concessions, in the Asutifi District of the Brong Ahafo Region for a three-year
period (February 19, 2008 to February 18, 2011). An updated Environmental Management Plan
(EMP) was submitted to the EPA in February 2011 upon which the company was re-certified for
the period October 31, 2011 to October 30, 2014. The most recent certificate was applied for in
September 2017, to cover the period 2017–2020. Newmont is currently awaiting the issuance of
the EMP certificate.
Exploration on the Subika underground project started in 2010 with drilling and drifting under an
exploration permit. Test stoping under the exploration permit occurred from 2011 to 2013 to test

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geotechnical and hydrogeological properties of the rock. This included four test stopes and
additional drifting. Exploration drilling occurred until August 17, 2016 when the exploration permit
expired. The mine was put on care and maintenance until the operating permit was received in
March 2017. The EPA EIS permit for the Subika underground was received from the EPA in
March 2017 with an expiry date of September 2018. In Ghana, every permit issued following
submittal of an EIS is good for 18 months, during which time an EMP is expected to be submitted
to the EPA as part of the EIS permit conditions to allow operations under the EIS permit. In
accordance with Environmental Protection Agency Legislative Instrument (L.I. 1652), the EMP for
the Subika underground was submitted to the EPA in March 2018. The EMP was reviewed by
the EPA and review comments were addressed by Newmont. The EMP invoice issued by the
government for the EMP certificate was paid. Newmont is now awaiting the issuance of the EMP
certificate for the Subika underground project. The permit is maintained by submitting an updated
EMP every three years or when new mine facilities are developed that would have an impact on
either the environment or social conditions in the area.
The EPA has commissioned an independent assessment of the environment and social impact
of the TSF Expansion project on Dokyikrom, a community situated about 1 km to the northwest
of the proposed expanded TSF. The initial impact assessment concluded minimal environment
and social impact of the project; however, the EPA, in response to public comment, requested
the additional assessment.
Newmont’s broad reclamation objectives for Ahafo South are to ensure that the site is left in a
condition that is safe, stable, and minimizes long-term environmental impact; is without any future
liability to the community, and future land use restrictions are minimized. A Draft Reclamation
Plan, subsequently approved for implementation, included descriptions of mining and ore
processing operations, WRSFs, TSF, and water-related structures, and the reclamation and
monitoring plans for these facilities. Under EPA requirements, Newmont is required to provide
updates to the reclamation plan as mine development proceeds. The 2015 Reclamation and
Closure Plan is currently being updated for submission to the EPA. The updated Reclamation
and Closure Plan will include the plan for Subika underground closure. A Reclamation Security
Agreement (RSA) between the EPA and Newmont was signed in April 2008 to outline the various
objectives and targets as guidance for the plan.
In 2018, the LOM closure costs were estimated at US$129 M including allocation of costs for
rehabilitation of WRSFs, the TSF and Subika underground. As part of the reclamation and security
agreement (environmental bond) with the Ghanaian Government, Newmont has provided a
cumulative (project to date) cash deposit of US$11 M based on the current disturbance in 2018.
The EPA requires a Reclamation Bond to be posted as part of any mine permitting process. The
bond is required to provide financial surety against non-compliance under the approved Closure
and Reclamation Plan and is required within six months after the start of operations. The total
2018 liability for Ahafo was estimated as US$91 M.
Newmont has developed a public consultation and disclosure plan (PCDP) for the Ahafo South
operations using guidelines and policies developed by the International Finance Corporation.

1.18 Markets and Contracts

Newmont has an operative refining agreement with MKS (Switzerland) S.A, a Swiss refining
house, for refining of doré produced from the Ahafo South operations. Newmont’s bullion is sold

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on the spot market, by marketing experts retained in-house by Newmont. The terms contained
within the sales contracts are typical and consistent with standard industry practice and are similar
to contracts for the supply of doré elsewhere in the world.
Metal price assumptions are provided by Newmont management and are based on three-year
trailing average prices applicable at the time the Mineral Reserves are estimated.
There are 21 major contracts currently in place to support the Ahafo South operations, in addition
to the refining contract. These contracts cover items such as bulk commodities, operational and
technical services, mining and process equipment, and administrative support services.
Contracts are negotiated and renewed as needed. Contract terms are typical of similar contracts
in Ghana.

1.19 Capital Cost Estimates

Sustaining capital cost estimates are based on actual 2018 mine data, BP19, and budgetary
figures and quotes provided by suppliers. The estimates include funding for infrastructure, mobile
equipment, development and permitting, and miscellaneous costs. Infrastructure requirements
were incorporated into the estimates as needed. Sustaining capital costs reflect current price
trends.
The sustaining estimate is summarized in Table 1-8, and totals about US$377.4 M. An additional
US$129.6 M is allocated from operating costs to sustaining capital, consisting of asset
componentization, resulting in an overall sustaining capital cost of US$407 M.
An allocation of US$41.2 M was made to development capital for the AME project.
Closure costs are estimated at US$129.6 M.

1.20 Operating Cost Estimates

Operating costs were estimated by Newmont personnel, and are based on BP19. Labor cost
estimation is based on Newmont’s 2018 salary scale and fringe benefits in force. Mining
consumables are based on 2018 costs and contracts.
The overall operating cost estimate is summarized in Table 1-9, and totals approximately
US$3,397.2 M over the LOMP.
Using the LOMP as a basis, the operating costs on a US$/t basis equate to:
 Open pit mining: US$2.50/t mined;
 Underground mining: US$92/t mined;
 Processing + G&A: US$17.24/t processed.

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Table 1-8: Sustaining Capital Estimate

Capital Cost
Area Comment Estimate
(US$ M)
Mining equipment replacement capital 16.7
Pit expansion sustaining capital 14.6
Water treatment plant capital 10.8
Open Pit
Infill drilling - sustaining —
General mine sustaining 16.2
Subtotal 58.4
TSF expansion 97.1
Process general sustaining capital 17.5
Process
Other general sustaining capital (15.1)
Subtotal 99.6
General 219.4
Underground
Subtotal 219.4
Total sustaining capital 377.4
Sustaining capital allocations from Asset componentization 129.6
operating costs Subtotal 129.6
Total sustaining and reallocations 407
Note: totals may not sum due to rounding.

Table 1-9: Operating Cost Estimate

Operating Cost
Cost Area
(US$ M)
Open pit 817.9
Underground 688.3
Process 1,355
G&A 536
Total 3,397.2
Note: totals may not sum due to rounding.

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1.21 Economic Analysis

Newmont is using the provision for producing issuers, whereby producing issuers may exclude
the information required under Item 22 for technical reports on properties currently in production
and where no material production expansion is planned.
Mineral Reserve declaration for Ahafo South is supported by a positive cashflow.

1.22 Interpretation and Conclusions

Under the assumptions in this Report, the Ahafo South operations show a positive cash flow over
the life-of-mine and support Mineral Reserves. The mine plan is achievable under the set of
assumptions and parameters used.

1.23 Recommendations
Recommendations are broken into two phases. Phase 1 recommendations are made in relation
to exploration activities. Recommendations proposed in Phase 2 are suggestions for additional
data collection and data support of additional metallurgical testwork on the Apensu Deeps
mineralization, and a review of the mining methods planned for Subika underground.
Phase 1 is estimated at about US$22.5 M. Phase 2 is budgeted at approximately US$3.5–
US$3.6 M. Phase 2 is not contingent on positive results of Phase 1 and the two phases could be
conducted concurrently.
Phase 1 comprises the following drill programs:
 Infill drilling at Subika underground and Apensu North to potentially support
mineralization in the Subika North and South corridors to higher-confidence category
Mineral Resources (55,000 m at US$294/m);
 Step-out “wingspan” drilling from Subika underground and Apensu North (19,000 m
at US$263/m);
 Early-stage exploration target testing within the Ahafo brownfields area (4,000 m at
US$326/m).
Phase 2 consists of assessment of potential process design changes that could be implemented
in the plant to treat Apensu Deeps material, including a finer grind size, and re-concentration
(flotation), followed by fine regrind of concentrate. The testwork would be used to determine if it
could be economically viable to grind the Ahafo South ore bodies finer (Line 2) or to install a
sulfide recovery circuit followed by finer grinding of the concentrate on Line 2. Early metallurgical
studies on Apensu Deeps mineralization have showed correlations of arsenic and/or sulfide sulfur
with leach gold extractions, which may be useful in recovery modeling, should further testwork
continue to show similar trends. This testwork program is underway.
During Phase 2, further evaluation of the mining method employed at Subika underground is
required. Based upon Newmont’s changing understanding of the deposit and rock mass
characteristics, a different mining method may be more optimal. A cross-functional project team
made up of subject matter experts should be assembled, and is recommended to include mining

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engineering, geotechnical engineering, infrastructure and geology. This team should investigate
other possible mining methods that could be executed at Subika.

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2.0 INTRODUCTION

2.1 Introduction
Newmont Mining Corporation (Newmont) has prepared this technical report (the Report) on the
Ahafo South Operations (Ahafo Operations or the Project) in the Republic of Ghana (Ghana).
The Project location is shown in Figure 2-1.
Newmont Mining Corporation has three subsidiaries registered under the laws of Ghana:
Newmont Ghana Gold Ltd. (NGGL), Newmont Golden Ridge Ltd. (NGRL) and Moydow Limited
(Moydow). For the purposes of this Report, the name Newmont is used interchangeably for the
subsidiary and parent company.

2.2 Terms of Reference

This Report supports disclosure of Mineral Resources and Mineral Reserves and summarizes the
Project development and current operations. Newmont will use this Report in support of
disclosure and filing requirements with the Canadian securities regulators as specified in Section
4.2 (1) (c) of NI 43-101. This Report will be filed under Newmont’s System for Electronic
Document Analysis and Retrieval (SEDAR) profile.
All measurement units used in this Report are metric unless otherwise noted, and currency is
expressed in American (US$) dollars as identified in the text. The Ghanaian currency is the cedi.
Mineral Resources and Mineral Reserves are reported using the 2014 Canadian Institute of
Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral
Reserves (2014 CIM Definition Standards). The Mineral Reserves are forward-looking
information and actual results may vary. The risks regarding Mineral Reserves are summarized
in the Report (see Section 15.4 and Section 25). The assumptions used in the Mineral Reserve
estimates are summarized in the footnotes of the Mineral Reserve table, and outlined in Section
15 and Section 16 of the Report.
Newmont’s Ahafo interests are divided into two geographical areas, Ahafo South, which has
operating mines and is the subject of this Report, and Ahafo North which will be a separate stand-
alone development and mining operation independent of, and separate from, Ahafo South. For
this reason, Ahafo North is not included in this Report.

2.3 Qualified Persons

This Report was prepared by the following Newmont Qualified Person (QP):
 Mr. Donald Doe, RM SME., Group Executive, Reserves, Newmont.
Mr. Doe’s position requires oversight of Newmont’s Mineral Resource and Mineral Reserve
estimation processes and mine operational forecasts, and the internal controls on those
processes.

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Figure 2-1: Project Location Plan

100 km

Note: Figure prepared by Newmont, 2018.

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2.4 Site Visits and Scope of Personal Inspection

Mr. Doe has visited the Ahafo Operations on many occasions, most recently from August 27–30,
2018.
During this site visit, he inspected the operating open pits, and examined the underground
operations. He visited the core shack and inspected drill core. Mr. Doe also viewed the Ahafo
South process plant and associated general site infrastructure, including the current tailings
storage facility (TSF) operations.
While on site, he typically discusses aspects of the operation with site-based staff. These
discussions include the overall approach to the mine plan, anticipated mining conditions, selection
of the production target and potential options for improvement, as well as reconciliation study
results. Other areas of discussion include plant operation and recovery forecasts and plans for
the expanded TSF. Mr. Doe reviews capital and operating forecasts with site staff.
Mr. Doe also reviews Newmont’s processes and internal controls on those processes at the mine
site with operational staff on the work flow for determining Mineral Resource and Mineral Reserve
estimates, mineral process performance, production forecasts, mining costs, and waste
management.

2.5 Effective Dates

The scientific and technical information included in the Report has a number of effective dates as
follows:
 The effective date for drill information included in the report is 31 December, 2018;
 The closeout date for the databases used in the estimation are Subika open pit:
January 2018; Awonsu oxide: 3 August, 2018; Awonsu Main: 16 January, 2014;
Subika underground: 26 September, 2016; Apensu underground: 5 May, 2017; and
Amoma: April, 2014.
 The effective date for the Mineral Resource estimate is 31 December, 2018;
 The effective date of the Mineral Reserve estimate is 31 December, 2018.
The overall effective date of this Report is the effective date of the Mineral Reserve estimate and
is 31 December, 2018.

2.6 Information Sources and References

This Report is based in part on internal company reports, maps, published government reports,
and public information, as listed in Section 27 of this Report.
The following Newmont employees contributed to various aspects of the Report under the
supervision of the QP:

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 Raymond Nii-Armah, Senior Manager, Integrated Resource Modeling, South African

Council of Natural and Scientific Professions (SACNASP); three years of experience
with the Project;
 Russell Evans, Regional Exploration Director, Fellow of Australasian Institute of
Mining and Metallurgy (FAusIMM); one year of experience with the Project;
 Eric Engmann, Chief Mine Geologist, Registered Member of the Society of Mining,
Metallurgy and Exploration (RM SME); 11 years of experience with the Project;
 Robert Owusu-Bempah, Chief Mining Engineer, RM SME; five years of experience
with the Project;
 Ralf Kintzel, Senior Long Range Planning Engineer, RM SME; 2.5 years of
experience with the Project;
 Mark Ramirez, Director Underground Mine Engineering (Corporate), RM SME; 1.5
years of experience with the Project;
 George Amonoo, Process Superintendent, RM SME; 13 years of experience with
the Project.
All figures were prepared by Newmont personnel for the Report unless otherwise noted.

2.7 Previous Technical Reports

Newmont has not previously filed a technical report on the Project.

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3.0 RELIANCE ON OTHER EXPERTS

The QP has relied upon Newmont experts for the information included in this Report on mineral
tenure, surface rights, permitting, political, environmental and social considerations, taxation and
markets.

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4.0 PROPERTY DESCRIPTION AND LOCATION

4.1 Introduction
The Project is located in western Ghana near the towns of Kenyasi and Ntotroso in the Brong–
Ahafo Region, about 290 km northwest of Accra. The operations are 107 km northwest of Kumasi,
and 40 km south of the regional capital of Sunyani.
Ahafo South is centered at about 2º20"59' longitude, and 7º02"13' latitude. Deposits within the
Ahafo South area include Subika, Apensu, Amoma, and Awonsu.
The active mining operations comprise the Subika, and Awonsu open pits and the Subika
underground mine. The Apensu and Amoma deposits are mined out.

4.2 Property and Title in Ghana

4.2.1 Mineral Title

Mineral exploration and mining are administered in Ghana under the Minerals and Mining Act,
2006 (Act 703) and relevant Regulations that came into force in June 2012. These are Minerals
and Mining (General) Regulations, Minerals and Mining (Licensing) Regulations, Minerals and
Mining (Support Services) Regulations, Minerals and Mining (Compensation and Resettlement)
Regulations, Minerals and Mining (Explosives) Regulations and the Minerals and Mining (Health,
Safety and Technical) Regulations. The State is the owner of all minerals occurring in their natural
state within Ghana's land and territorial sea, including its exclusive economic zone but is vested
in the President on behalf of and in trust for the people of Ghana.
Three types of mineral rights can be granted after the applicant’s fiscal and technical ability to
perform effective exploration or mining is verified: reconnaissance and prospecting licenses, and
mining leases (Table 4-1).

4.2.2 Surface Rights

A mineral right holder is required to exercise his rights so that impacts on the interests of any
lawful occupier of the land are minimized. The lawful occupier retains the right to graze livestock
and cultivate the land in so far as such activities do not interfere with the mineral operations. The
occupier may apply to the mineral right holder for compensation for any disturbance of his rights,
for damage to buildings, improvements, livestock, crops, or trees. Assessment of compensation
eligibility and amount payable, in practice, requires extensive stakeholder engagement including
affected landowners, the Land Valuation Division and cooperation of traditional authorities.
Owners or lawful occupiers of land must obtain permission from the mining company to erect any
building or structure on the land in an area of the lease declared a Mining Area by the mineral
right holder.

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Table 4-1: Types of Mineral Rights

Mineral Right
Comment
Name
Granted for a maximum area of 1,050 km 2 in aggregate. Allows for non-intrusive
reconnaissance exploration such as remote sensing, surface geology and
geochemical sampling (no excavation or drilling) and confers exclusive rights to
Reconnaissance the holder to undertake reconnaissance for the specific granted mineral(s) for a
License year. License is renewable for another 12 months provided that notification of the
intention to extend the term of the license is provided not later than 90 days before
the expiration of the initial term of the license. Renewals must be supported by a
professional technical terminal report.
Confers exclusive rights to the holder to prospect for granted mineral(s). Licenses
may not exceed 157.5 km 2 in aggregate. Granted for an initial period not
exceeding three years with the ability to renew for an additional period of not more
Prospecting than three years. Notification of intention to renew the term of the license must be
License received not later than 90 days before the expiration of the initial term of the
license. Renewals must be supported by a professional terminal report. License
holder is required to relinquish not less than half of the original license area after
the expiration of the first three-year term
Required to commence mining operations. Requires the applicant to submit a
feasibility report in accordance with the Minerals Commission’s guidelines, stating
how the planned mining operation is to be carried out. The lease area is limited to
Mining Lease a maximum area of 63 km 2; however, an enlargement of the lease area may be
granted by the Minister responsible for mines if satisfied on reasonable grounds
that the additional area is required for the holder’s operations. Granted for a
maximum 30-year term, and renewable thereafter upon negotiated terms.

Although some parts of the Ghanaian land law are derived from English common law and equity,
the fundamental principles of land ownership are distinct from that of the English law of real
property. The basis of English law of real property is that the Crown owns all land; however, in
Ghana land is owned by various Stools, families, or clans (the owners). The Government of
Ghana may only hold land by acquisition from these traditional owners, if necessary, in the interest
of defense, public safety, public order, public morality, public health, town and country planning
or the development or utilization of property in such a manner as to promote the public benefit
and fair and adequate compensation is paid.
Traditionally, the owners of non-vested Stool lands enjoy much wider rights than is the case for
vested lands, but in practice traditional authorities and privileges are similar to those due to the
Crown and generally result in a similar outcome. The ability of the traditional Stool owners to
exercise exclusive rights depends on ancestral links and the individuals’ standing within the
community.

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Land-use rights vary between landlords and tenants. Generally, a landlord is a property holder
who has exclusive rights to use or to dispose of use rights to land. Land use rights are typically
acquired from traditional rulers and family heads or by inheritance and are disposed otherwise by
contracts for sharecropping or lease. A given householder may be a landlord of one farm field, a
sharecropper on another and a caretaker on a third.
Largely, with respect to land within the area affected, the original (traditional) owners retain the
surface rights, as in the Asutifi District where the Project is located, unless their rights are curtailed
by Newmont being awarded a mining lease and paying the appropriate compensation. The grant
of a mining lease by the Government of Ghana may curtail the interest of traditional owners. Thus,
the lease agreement requires the payment of revenue to the affected owner in the form of ground
rent which for traditional owners are managed by the Office of the Administrator of Stool Lands
for the benefit of the traditional owners and the District within which the mineral rights sits.

4.2.3 Environmental Regulations

An Environmental Impact Assessment (EIA) for developments, projects, or undertakings has been
a requirement in Ghana since 1989. In June 1995, the Ghana Environmental Protection Agency
(EPA) established procedures for EIAs involving gradual phases depending upon the nature,
complexity and location of the undertaking (Ghana Environmental Impact Assessment
Procedures, 1995). Between 1995 and 1999, the EPA reviewed and revised these procedures.
In June 1999, the revised procedures were adopted and passed by Parliament as Legislative
Instrument 1652 Environmental Assessment Regulations (L.I. 1652). These procedures require
that an Environmental Impact Statement (EIS) be submitted to the EPA for review and be
approved in order to obtain an Environmental Permit, which allows a project to proceed on
environmental grounds.

4.2.4 Royalties
The Government of Ghana levies royalties on mining projects, including Ahafo. These are
discussed in Section 4.7.

4.2.5 Fraser Institute Survey

The QP has used the 2017 Fraser Institute Annual Survey of Mining Companies report (the 2017
Fraser Institute Survey) as a reasonable source for the assessment by peers in the mining
industry of the overall political risk facing an exploration or mining project in Ghana. Each year,
the Fraser Institute sends a questionnaire to selected mining and exploration companies globally.
The Fraser Institute survey is an attempt to assess how mineral endowments and public policy
factors such as taxation and regulatory uncertainty affect exploration investment.
The QP has relied on the 2017 Fraser Institute survey because it is globally regarded as an
independent report-card style assessment to governments on how attractive their policies are
from the point of view of an exploration manager or mining company and forms a proxy for the

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assessment by industry of political risk in specific political jurisdictions from the mining industry’s
perspective.
Of the 91 jurisdictions surveyed in the 2017 Fraser Institute survey, Ghana ranks 22nd for
investment attractiveness, 51st for policy perception and 17th for best practices mineral potential.

4.3 Project Ownership

4.3.1 Ownership History

In 1993, a joint venture (JV) agreement was signed between the French governmental
organization Bureau Recherché Geologiques et Minieres (BRGM) and the South African company
Gencor Ltd (Gencor) to explore in Ghana and Cote d’Ivoire.
In 1994, the JV signed an option agreement with Ghanaian company Minconsult over the Yamfo
license and formed the Centenary Gold Mining Company (41% BRGM, 41% Gencor, 8%
Minconsult, and 10% Ghanaian Government). In the same year, La Source Compagnie Miniere
SAS (La Source) was established with Normandy Mining Limited (Normandy) holding 60%,
BRGM 40% and La Source taking over BRGM’s West African exploration and mining assets. In
1998, La Source consolidated its position when it acquired the former Gencor and Minconsult
interests in Yamfo. In 2000, the name Centenary Gold Mining Company Limited was changed to
Normandy Ghana Gold Limited (NGGL).
The Ntotroso license area (formerly the Rank Mining Concession) was acquired in 1997 when La
Source purchased a 40% share in Rank Mining Company Limited (Rank). Rank held a 40%
interest in the Rank JV Farm-In Agreement with Moydow Mines International Inc (Moydow; 60%
interest), that covered the Ntotroso concessions. La Source increased its holding in Rank, and
thus the JV, to 50% in 2001, by funding exploration and development in accordance with the
agreement.
Newmont acquired Normandy and the Ghanaian projects in early 2002. In December 2003,
Newmont acquired the remaining 50% interest in Rank from Moydow Mines Ltd., a subsidiary of
Moydow, for a consideration of US$32 M, and a royalty on reserves over 1.2 Moz Au. The same
month, Newmont and the Government of Ghana signed an investment agreement guaranteeing
Newmont certain financial and operating rights over a period of 30 years for its projects in Ghana.
Newmont renamed the Sefwi and Ntotroso projects to Ahafo, and then separated the area into
two sections, Ahafo North and Ahafo South, based on location north or south of the Shelterbelt
Forest Reserve (Figure 4-1).

4.3.2 Current Ownership

The Project is held through Newmont Ghana Gold Ltd., an indirectly-wholly owned subsidiary.

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4.4 Mineral Tenure

Figure 4-1 is a map showing deposit locations within the tenure. Figure 4-2 shows the individual
mineral tenures. Table 4-2 summarizes the mineral tenure holdings.
Newmont currently holds three mining licenses, and 13 prospecting licenses that in total cover an
area of around 1,142.61 km2:
 The mining leases are current until 2031 and can be renewed by negotiation (see
discussion in Section 4.2.1). The total area held under mining licenses is
approximately 555 km2;
 The majority of the prospecting licenses have expired, but there are pending
applications with the regulator to have these licenses renewed or extended. The
total area covered by prospecting license applications or renewal application is about
587.29 km2.
The Ahafo mining lease is separated into two areas, where Ahafo South is in Area A, and Ahafo
North in Area B (refer to Figure 4-1). Ahafo North is planned to be developed as a stand-alone
operation, will not share infrastructure or facilities with Ahafo South, and is not included in this
Report. Within the Ahafo South area, the mineral title totals 814.27 ha (Table 4-3). This consists
of 371.87 ha held under mining lease and 442.4 ha held under prospecting licenses.
Under Ghanaian law, only mining leases and prospecting licenses require surveys;
reconnaissance license types are delineated by latitude/longitude co-ordinates. All of the Ahafo
mining leases were surveyed by Newmont staff, using global positioning system (GPS) readings
and identifiable benchmarks on topographic maps to locate the boundary pillars on the ground
from site plans.
A number of payments are required to keep the licenses/leases in good standing, and include:
 Annual rental: payable by January of each year;
 Annual prospecting and mining permit payments: payable by January of each year.
Fees payable (monetary amounts current as at December 2018) include:
 Exploration (prospecting) permits: ¢5,000 per year for each prospecting license;
 Mining permits: ¢2,000 per square kilometer per year for each mining lease;
 Renewal/extension fee: $50 per cadastral unit (0.21 km2) and a processing fee of
$500 for each prospecting license;
 Annual mineral right fee: $50 per cadastral unit for each prospecting license;
 Annual ground rent: ¢778.38 per cadastral unit for each mining lease and ¢6.75 per
cadastral unit for each prospecting license;
 Exploration environmental permits: ¢7,200 for each prospecting license. Payable
every two years.
All required payments have been made as they fall due.

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Figure 4-1: Ahafo District Mineral Tenure Map

Note: Figure prepared by Newmont, 2019.

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Figure 4-2: Ahafo South Mineral Licenses Map

Note: Figure prepared by Newmont, 2019. Green stipples are forest reserves.

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Table 4-2: Ahafo Area Mineral Tenure Table

License
License Area (km2) Date Granted Current Expiry Date
Type
Ahafo ML Mining lease 464.93 13-Jun-2001 12-Jun-2031
Goa ML Mining lease 11.79 7-Oct-2005 6-Oct-2031
Rank (Ntotroso) ML Mining lease 78.6 13-Jun-2001 12-Jun-2031
Bonkori Prospecting 4.88 17-Feb-2012 16-Feb-2014
Dekyem Prospecting 34.55 18-Jun-2012 17-Jun-2013
Dekyem South Prospecting 44.31 — —
Goa Prospecting 150 4-Apr-2012 3-Apr-2014
Goaso Prospecting 30 22-Oct-2012 21-Oct-2013
Mampehia Prospecting 37.79 23-Jan-2014 22-Jan-2016
Mampehia East Prospecting 41.18 — —
Mankranho Prospecting 108.08 19-Feb-2014 18-Feb-2015
Nyameakyde Prospecting 45.78 25-Mar-2014 24-Mar-2015
Tanoso Prospecting 36.81 20-Aug-2013 19-Aug-2015
Twabidi West Prospecting 27.01 — —
Twabidi Prospecting 26.9 12-Oct-2009 11-Oct-2010
1,142.61

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Table 4-3: Ahafo South Mineral Tenure Table

Area Date Current

License License Type
(km2) Granted Expiry Date
Ahafo South ML_ Mining lease 281.48 13-Jun-01 12-Jun-31
Goa ML Mining lease 11.79 7-Oct-05 6-Oct-31
Rank (Ntotroso) ML Mining lease 78.6 13-Jun-01 12-Jun-31
Bonkori Prospecting license 4.88 17-Feb-12 16-Feb-14
Dekyem Prospecting license 34.55 18-Jun-12 17-Jun-13
Dekyem South Prospecting license 44.31 — —
Goa Prospecting license 150 4-Apr-12 3-Apr-14
Goaso Prospecting license 30 22-Oct-12 21-Oct-13
Mampehia Prospecting license 37.79 23-Jan-14 22-Jan-16
Mampehia East Prospecting license 41.18 — —
Nyameakyde Prospecting license 45.78 25-Mar-14 24-Mar-15
Twabidi West Prospecting license 27.01 — —
Twabidi Prospecting license 26.9 12-Oct-09 11-Oct-10
814.27

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4.5 Surface Rights

Newmont was granted a Plan of Operations (PoO) for Ahafo South and may use whatever land
is necessary for its operations but must respect the surface rights of other land users in relation
to access and loss of crops, timber, or structures. Extensive title searches were conducted over
the mining lease areas and no titles exist that would categorically exclude Newmont’s operations
on the Project lands. Newmont’s indenture for surface lands will run concurrently with the life of
the operations, but will extend for no more than 50 years.

4.6 Water Rights

Newmont holds permits to allow abstraction of groundwater, surface water, and water from the
Tano River (see Section 20 for additional details).

4.7 Royalties and Encumbrances

4.7.1 Investment Agreement

The Revised Investment Agreement (the Agreement) between Newmont and the Government of
Ghana defines and fixes, in specific terms, the effective corporate tax and royalty burden the
Project (including Ahafo South and Ahafo North) will carry during operations. The Agreement
establishes a fixed fiscal and legal regime, including fixed royalty and tax rates for the duration of
the Agreement’s stability period.
The Agreement was re-negotiated and ratified in December, 2015 and again in 2017. Under the
Agreement stability period, which now extends until the end of 2025, the tax rate will remain at
32.5%. After the cessation of the stability period, the tax rate will increase to 35%. During the
stability period, Newmont will pay gross royalties on gold doré production in accordance with a
sliding scale of 3–5%, tied to the gold price (Table 4-4). After the Agreement ends, the royalty
rate will be fixed at 5%.
An additional 0.6% is payable as a special fee for gold doré production from designated Forest
Reserves (see discussion also in Section 4.9).

4.7.2 Government of Ghana Free-Carried Interest

The Government of Ghana has a 10% free-carried interest in the Project. Newmont pays the
Government of Ghana a ninth of the dividend declared to Newmont shareholders. Additionally,
Newmont is obliged to pay 0.6% of the Project revenue if the gold price averages US$1,300/oz
or more, as an advance dividend against the one-ninth share.

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Table 4-4: Royalty Rates under Newmont’s Investment Agreement Stability

Period

Gold Price Range Royalty Rate

(US$/oz) (%)

Under 1,300 3
From 1,300 to 1,449.99 3.5
From 1,450 to 2,299.99 4
Over 2,300 5

4.7.3 Franco-Nevada Corporation

A net smelter return (NSR) royalty of 2.0% is payable on all ounces produced from the Rank
(formerly Ntotroso) concession. The royalty is paid to Franco-Nevada Corporation (Franco-
Nevada), which acquired the royalty for US$58 M in November 2009. The majority of the Subika
deposit, the northern portion of the Awonsu deposit, and the southern tip of the Amoma deposit
fall within the Rank mining lease boundary.

4.8 Property Agreements

There are no major property agreements to which the Project is subject.

4.9 Forest Reserves

Areas of productive Forest Reserves are designated in the vicinity of the Ahafo South operations.
These areas include the Bosumkese Forest Reserve and the Amoma Shelterbelt Forest Reserve
(refer to Figure 4-1).
Potential impacts on the Forest Reserves include roads, powerline access, and general proximity
of mining operations to the Forest Reserve areas.

4.10 Permitting Considerations

Permitting considerations are discussed in Section 20.

4.11 Environmental Considerations

Environmental considerations are discussed in Section 20.

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4.12 Social License Considerations

Social license considerations are discussed in Section 20.

4.13 Artisanal Mining

Development of illegal mining (galamsey) activities in Newmont’s Ahafo concession started in
2008 at Kenyase (Ahafo South) and spread to the Ahafo North communities. However, Newmont
embarked on a series of facilitated interventions in collaboration with the communities and
National Security to drastically discourage illegal mining. Notwithstanding this, the activity
intermittently continued until the Government of Ghana implemented an ‘operations-stop-
galamsey’ policy which has brought illegal mining to a halt both in the Newmont concessions and
elsewhere in Ghana.
In October 2017, Newmont performed a regional survey that included Ahafo South to determine
the extent and impact of galamsey operations. This study, combined with ongoing monitoring,
indicates that there are no significant galamsey operations in the mining lease areas, but two
operational sites were situated within a Newmont exploration concession. At the time of the
survey, there were between 10–30 persons per site. Operators used a locally-manufactured
processing machine called “Chan fan” to process material extracted. Activities have ceased as a
result of the ‘operations-stop-galamsey’ policy.
Newmont regularly monitors for galamsey activity in the Ahafo area in collaboration with the
Regional and District Security personnel to ensure trespassers are responsibly removed if such
activities are identified.

4.14 QP Comments on “Item 4; Property Description and Location”

In the opinion of the QP:
 Information provided by Newmont’s legal and tenure experts on the mining tenure
held by Newmont in the Project area supports that the company has valid title that
is sufficient to support declaration of Mineral Resources and Mineral Reserves;
 Newmont holds sufficient surface rights to allow mining activities at Ahafo South;
 Additional negotiations and permits are required for an expanded tailings storage
facility (TSF) for Ahafo South (see discussion in Section 20);
 Newmont holds permits that allow abstraction of groundwater, surface water, and
water from the Tano River for the Ahafo South area (see discussion in Section 20);
 Royalties are payable to the Government of Ghana over the entire Project area, and
to Franco-Nevada for a portion of Ahafo South;
 Environmental liabilities for the Ahafo South operation are typical of those that would
be expected to be associated with an operating gold mine with a number of open

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pits and an underground mine, including roads, site infrastructure, waste and tailings
disposal facilities;
 Artisanal mining has occurred within the Newmont ground holdings, and there is an
expectation that environmental damage has resulted from these activities.
To the extent known, there are no other significant factors and risks known to Newmont that may
affect access, title, or the right or ability to perform work on the Project that are not discussed in
this Report.

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5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES,

INFRASTRUCTURE, AND PHYSIOGRAPHY

5.1 Accessibility
Road access to the Ahafo South operations is via asphalt paved road from Accra to the Tepa
Junction via Kumasi in the direction of Sunyani on Route 6, approximately 300 km. From Tepa
Junction, an asphalt-paved road leads west for 39 km through the villages of Tepa and
Akyerensua to Hwidiem. A paved road then leads northwest for 8 km to the village of Kenyasi.
Newmont constructed a bypass north of Kenyasi to facilitate supply deliveries, and route traffic
around the town for safety reasons.
The Ahafo South process plant site is located approximately 6.5 km north east of Kenyasi along
the Kenyasi–Ntotoroso road. The operating mines are all accessible on mine roads from the plant
site. They are also accessible as required through other back roads, but these are typically kept
blocked in order to limit public access to mining areas. A 9.0 km haul road to the Amoma pit was
constructed in 2010 to provide access for heavy mining equipment.

5.2 Climate
The Project area falls within the wet semi-equatorial climatic zone of Ghana that is characterized
by an annual double maxima rainfall pattern, occurring in the months of May to July and from
September to October.
Mean annual rainfall for the Project area is between 1,354 and 1,400 mm. Typically, minimal
rainfall is experienced from December to the end of February, with January as the driest month.
Humidity can drop to as low as 25%. The rainy season is characterized by humid conditions, in
particular during the night, when 95–100% humidity is possible.
Mean monthly temperatures within the area range from 23.9 to 28.4°C. In general, March is the
hottest month of the year with a mean temperature of 27.8°C. August is the coolest month with
a mean temperature of 24.6°C.
The Ahafo South Operations are conducted year-round.

5.3 Local Resources and Infrastructure

The Project lies within two Administrative Districts, Tano in the north and Asutifi in the south.
Each district has its own central government-based District Council as well as a number of
Traditional Government Paramount Chieftaincies.
Sunyani is a major regional center. It has a modern hospital, schools, banks, a post office,
telephone exchange, and is the regional headquarters for the Cocobod (the cocoa marketing
authority in Ghana).

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Additional information on the infrastructure supporting the Project and the availability of local
resources is discussed in Section 18.

5.4 Physiography
The Project area comprises low rounded hills with elevations ranging from 110 m to 540 masl.
Seasonal streams and tributaries of the Tano River basin drain the broad, relatively flat valleys.
The Project area consists primarily of subsistence farms with small-scale commercial farming
intermingled with areas of forest regrowth and remnants of secondary forest. The major
agricultural land uses are cocoa, food crops, and rice farming. South of the Bosumkese Forest
Reserve, cocoa farming is the major activity, while to the north maize farming dominates.
Livestock farming is of no economic value and there is no organized fishing in rivers and streams
in the Project area.
The Project shares a boundary with the Bosumkese Forest Reserve, and the Amoma Shelterbelt
Forest Reserve bisects the Ahafo mining lease.
The Ahafo South operations area is located in the upper part of the Tano River basin and is
drained by a number of seasonal streams that are tributaries of the Tano River. The Tano River
is a vital water body for the region as a source of drinking water for several towns and villages
within and around the Project area. Two streams, the Subri and the Awonsu, drain from the
Project to the Tano River.

5.5 QP Comments on “Item 5; Accessibility, Climate, Local

Resources, Infrastructure, And Physiography”
In the opinion of the QP:
 The existing local infrastructure, availability of staff, methods whereby goods could
be transported to the Project area are well-established and well understood by
Newmont, and can support the declaration of Mineral Resources and Mineral
Reserves;
 The Ahafo South operations cover a number of operating mines, and all required
infrastructure for the majority of the Ahafo South life-of-mine (LOM) plan (LOMP)
discussed in this Report are in place. An expansion will be required to the current
TSF (see discussions in Section 20) to support future operations;
 Within Newmont’s ground holdings, there is sufficient area to allow construction of
any additional infrastructure that may be required in the future;
 Newmont holds sufficient surface rights to support the Ahafo South operations (refer
to discussion in Section 4.5).
Operations in Ahafo South are conducted year-round.

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6.0 HISTORY

6.1 Exploration History

A Ghanaian–German mineral prospecting project was conducted in the current Project area
during the period 1989–1991, and identified a gold-in-soil anomaly that had a strike-length of
1.2 km. Subsequent follow-up soil sampling, on a grid spacing of approximately 50 m x 400 m,
was completed in 1992 by Minconsult, a Ghanaian consulting firm. Those samples confirmed the
anomalous gold values identified during 1989–1991.
Due to the different operating entities during the early exploration phases, exploration was not
conducted as a cohesive program over the current Project area as a whole. Section 4.3.1
discusses the ownership history.

6.1.1 La Source BRGM and Normandy

From 1993–1995, a joint venture between BRGM and Gencor/Centenary Mining Company
explored the Yamfo (Ahafo North) area and south to the area that now hosts the Ahafo South
operations. Work completed included stream sediment sampling, soil sampling, trenching, pitting,
rotary air blast (RAB), reverse circulation (RC) and core drilling and an initial mineral resource
estimate.
In 1996, a scoping study evaluated the Teekyere West, Yamfo Central and Line 10 deposits (now
within the Ahafo North area). Based on the scoping study results, a decision was made in July
1997 to perform a feasibility study based on an updated resource estimate. The study was
impacted by falling commodity prices, and it was determined that additional mineralization would
need to be identified.
In 1998, the La Source BRGM and Normandy joint venture was dissolved, and Normandy took
over operation. A major drilling program was initiated in September 1998 to drill new targets on
both the Yamfo (Ahafo North) and Sefwi (Ahafo South) licenses and a prefeasibility study was
completed in November 1999.
A feasibility study was completed in 2000; however, the resulting project did not meet internal
requirements.

6.1.2 Moydow
In 1996, Moydow identified eight major gold anomalies in the Ntotoroso Prospecting License
(Rank Concession) from a systematic soil geochemical survey. These were named in
alphabetical order Areas (Zones) A through G with the eighth zone being named Sika Aminaso.
The majority of the zones were in what is now the Ahafo North area.
An RC drilling program was completed on Area A in May 1997 and exploration progressed with
an additional four drilling programs targeting Areas A and C and another three aimed at
delineating Area E (now Subika).

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Resource estimates were completed in 1997 for Area A and C, and in 2000 for Subika. In 2000,
the Rank Development and Production Agreement were signed by La Source and Moydow,
setting the conditions for treatment of mineralization from the Rank Concession deposits through
the proposed Sefwi plant.
A feasibility study was commissioned in 2000 and managed by La Source. The study was
primarily based on the Subika and Area A deposits, with open-cut mining and treatment of
mineralization to be conducted through the planned Sefwi plant.

6.1.3 Newmont
Newmont acquired its interest in the Yamfo, Sefwi, and Ntotroso licenses as a result of the merger
with Normandy in 2002 and renamed the combined project “Ahafo”.
In 2003, Lycopodium Pty. Ltd. completed a feasibility study on behalf of Newmont. The study
evaluated deposits from the Ahafo South and Ahafo North areas. A decision was made to
construct a process plant in the Ahafo South area and commence mining from the Apensu
deposit, deferring mining activity in Ahafo North. Open pit mining started in 2006. The Apensu
and Amoma deposits are mined out. As of December 31, 2018, mining is underway at the Subika
open pit and Subika underground. Open pit mining is planned to resume at Awonsu in the last
quarter of 2019.
Concurrent with operations development, Newmont continued exploration in the Ahafo South
area, identifying the Subika underground mineralization in 2006–2008. The Apensu South
deposit was discovered approximately 1 km south of the Apensu open pit area in November 2013,
and the Apensu Deeps area was located in 2014. An expansion of the Apensu mineralization to
the north was identified in 2016.
A permitted underground trial mining program was conducted at Subika from 2012–2013, with
exploration drilling extending until 2016, when the mine was put on care-and-maintenance. Work
included exploration drilling, drift development, trial mining of four stopes, and collation of data as
to likely geotechnical and hydrological conditions that would be expected during formal mining.
An operating permit was received in 2017, when underground operations recommenced.
Commercial production from Subika underground was achieved in November, 2018.

6.2 Name Changes

Over the exploration history of the project, a number of mineral tenures, project areas, and
deposits were renamed. Table 6-1 summarizes the name changes.

6.3 Production
There is no reliable information available as to the production from galamsey operations.
Formal production from the Ahafo South operations since start-up in 2006 to the end of 2018 is
provided in Table 6-2.

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Table 6-1: Name Changes

Historic Tenure Name Current Tenure Name

Sefwi Ahafo mining lease
Yamfo Ahafo mining lease
Ntotroso Rank
Historic Tenure Name Current Area Name
Sefwi Ahafo North
Yamfo Ahafo North
Ntotroso Ahafo South
Area A Ahafo South
Area B Ahafo North
Historic Deposit Name Current Deposit Name
Kenyasi Central Apensu and Apensu Deeps
Kenyasi East Awonsu
Kenyase Apensu and Awonsu
Area E Subika and Subika underground
Bosumkese Amoma

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Table 6-2: Production History

Production
Year
(oz Au)
2006 202,128
2007 445,968
2008 521,255
2009 546,490
2010 545,311
2011 566,285
2012 561,357
2013 570,156
2014 442,020
2015 331,507
2016 348,860
2017 349,033
2018 436,105
Total 5,866,475

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7.0 GEOLOGICAL SETTING AND MINERALIZATION

7.1 Regional Geology

Ghana is located in West Africa and is largely underlain by the West African craton. The craton is
sub-divided into two domains, the Archean Reguibat Shield, in Mauritania to the north, and the
Paleo-Proterozoic Man Shield in the south between Ghana and Senegal.
The Man Shield covers the southernmost third of the craton. It is divided into two sectors, a
western portion consisting of rocks of Liberian age (3.0–2.5 Ga) and an eastern terrain underlain
by Paleoproterozoic Birimian rocks. The Birimian rocks consist of five evenly-spaced tholeiitic to
acidic composition volcanic belts trending northeast–southwest (Figure 7-1).
Basins between the volcanic belts are filled by predominantly turbiditic sedimentary rocks. The
transition zones between the volcanic rocks and the sedimentary rocks are filled with chemical
sedimentary rocks. All the units are contemporaneous and may be laterally equivalent facies.
Tarkwaian detrital sedimentary sequences unconformably overlie and are interbedded with the
Birimian units and contains clasts derived from the Birimian rocks. Tarkwaian conglomerates,
sandstones and phyllites appear to have accumulated in restricted basins within the volcanic belts
of the Birimian towards the end of the volcanic cycle.
Three granite successions intrude the Birimian rocks:
 Cape Coast type granitoids in the sedimentary basins, which are dominated by two-
mica granites;
 Dixcove-type granitoids associated with the volcanic belts, which are dominated by
hornblende-bearing granites;
 Bongo, Tongo, and Banso post-Tarkwaian K-rich granitoids.
The Ahafo deposits are located in the Sefwi Belt, one of the five Birimian volcanic belts. The Sefwi
Belt is bounded to the northwest by the Sunyani Basin and to the southeast by the Kumasi Basin.
The region has undergone a major compressive tectonic event that resulted in folds, northeast-
trending thrust faults, and greenschist facies regional metamorphism.
Volcanic rocks in the belt are mainly basaltic and are metamorphosed to varying degrees from
lower greenschist to lower amphibolite facies with elongate plutons of the Dixcove suite (2180–
2150 Ma). The sedimentary succession consists mainly of fine to medium-grained lithologies
(argillites and wackes) with variable amounts of volcaniclastic material. Cape Coast-type
granitoids intrude the metasedimentary rocks.
The strong northeasterly grain of the paleo-Proterozoic terrane parallel to the volcanic belts is the
predominant trend that governs major structural features:
 Axial planes of broad anticlinoria, which mainly characterize the sedimentary basins;
 Synclinoria in the volcanic belts;
 Regional-scale faults that separate these domains.

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Figure 7-1: Geology of Ghana

Note: The Akyem mine is a Newmont operation, but is not part of the Project as discussed in this Report.

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Faults and associated structures display a complex history of movement including thrust faulting
and shearing with both normal and strike–slip motion and have played a major role in emplacement
of mesothermal gold mineralization. Regional structure is controlled by the Kenyasi Thrust Fault,
a northeast to southwest trending regional thrust that separates the Sefwi Belt from the Sunyani
Basin. Numerous splays from the thrust were identified from satellite and photographic imagery,
trending east–northeast to northeasterly. Additional north–northwest-trending structures are
interpreted to be the location of mafic dikes.

7.2 Project Geology

Regionally, there are 12 known deposits in the Ahafo district, localized along multiple northeast-
striking structural zones (Figure 7-2). Discrete mineralization styles are recognized within the
Ahafo district, which are termed Kenyasi-style, Subika-style, and Subenso-style. Only Kenyasi-
style and Subika-style mineralization are identified within the Ahafo South Operations area.
All of the “shear zone” deposit types appear to be part of the same mineralized system. As with
many deposits located in tropical climates, a saprolite zone, typically between 5–50 m thick, is
developed at surface. The saprolite zone gives way at depth to a sulfide zone, within which gold
occurs in structurally-controlled zones of hydrothermal alteration.

7.2.1 Kenyasi-Style
Six lithologies and/or litho–structural units are recognized in the Kenyasi-style zones, consisting
of:
 Weakly foliated mixed (meta)-pelitic sedimentary rocks and (meta)-mafic volcanic
units attributed to the lower Birimian volcano-sedimentary sequence occur in the
footwall of the Kenyasi Thrust Fault;
 Dixcove Suite granitoids form the hanging wall to the thrust. Rocks within the suite
vary in composition from granitic to granodioritic to tonalitic and dioritic;
 Locally, “mylonite after granitoid” can occur. The rock units display a weak to strong
foliation and local folding within the Kenyasi Thrust Fault. The granitoids appear to
be overthrust onto the volcano-sedimentary sequence;
 Multiple thrust fault duplexes developed along the thrust contact between the
granitoids in the hanging wall and volcano/sedimentary rocks in the footwall. Multiple
wedges of granitoid of various scales were locally thrust into the footwall. The latter
form a zone of mixed mylonite after granitoid and volcano-sedimentary units,
containing rigid granitoid fragments in a matrix of plastically-deformed, predominantly
chloritic, volcano-sedimentary units;
 Phyllonite units, dominated by phyllosilicate minerals, result from plastic deformation
(mylonization) of the volcano-sedimentary units;
 In the hanging wall, tectonic breccias (cataclasite) and finely-crushed rock form within
the granitoid units by local, brittle reactivation on or near the Kenyasi Thrust Fault.

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Figure 7-2: Ahafo Geology Plan

Note: Figure prepared by Newmont, 2016. The Subika, Apensu, Awonsu and Amoma deposits are within the Ahafo South Operations.

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These rock units are strongly weathered to a depth of about 50 m, resulting in development of
duricrust and saprolite. The duricrust ranges from 1–7 m thick, comprising zones of iron pisolites
and iron cement that represent transported material. Most areas are not covered by duricrust.
The underlying saprolite is characterized by a complete oxidation of the original sulfides that locally
extend a few meters into the primary bedrock. Partial oxidation of primary sulfides is found as
much as 15 m below the boundary of complete oxidation. The partially oxidized zone is rather
regular (horizontal) at the deposit scale, but oxidized fingers locally extend downwards along joints
and fractures into the primary rock.
Hydrothermal alteration in Kenyasi-style deposits is characterized by alteration of primary chlorite
to sericite–silica, and the addition of silica, iron carbonate, pyrite and local albite to the host rock.
Alteration was characterized and logged as weak, moderate, or strong. Alteration within the
Kenyasi-style zones was subdivided into three styles, weak, moderate, and intense. Moderate
alteration forms a broad halo in the brittle granitoid unit and a much narrower halo in the less
permeable footwall units, primarily focused in slightly more brittle and permeable mixed mylonite.
Strong alteration occurs in the cataclasite unit.
Deposits considered to be representative of Kenyasi-style mineralization are, from south to north,
Apensu, Awonsu, and Amoma.

7.2.2 Subika-Style
Lithologies in the Subika-style zone are related to the Dixcove Suite granitoids. The granitoids
form a complex composite intrusive that consists of crosscutting diabase, micro-diorite, micro-
granodiorite, aplite and granitic pegmatite within diorite. The granitoids are cut by multiple mylonite
zones that occur as imbricate thrusts and vary in thickness from <1 m to as much as 10 m. Zones
of brittle fracturing and dilatant breccias are commonly developed over the mylonite zones.
Weathering resulted in a thin saprolite zone that varies from 1–15 m in thickness, and within which
the original sulfides in the primary bedrock are completely oxidized. Partial oxidation of primary
sulfides extends 2–15 m below the level of complete oxidation. The base of oxidation is extremely
irregular with fingers extending downwards along joints and fractures into the primary rock.
Alteration is controlled by the 5–40 m wide “Magic Fracture Zone” (MFZ), a continuous zone of
quartz–albite–sericite–carbonate–pyrite alteration:
 Weak alteration consists primarily of chlorite bleaching. It occurs as a broader halo
around the MFZ and extends out into the re-activated mylonite zones;
 Moderate alteration forms a narrow halo varying from 1 m to 30 m in width around
the MFZ. It is consistently wider in the hanging wall and is controlled by widely-
spaced quartz veinlets. Moderate alteration also locally extends out into the cross-
cutting reactivated mylonite zones;
 Strong alteration is very closely associated with the intensely-altered cataclasite unit.
The contact of the strong alteration zones is sharp and occurs along the edges of the
stockwork fracture zone.
The only deposit displaying Subika-style mineralization identified to date is the Subika deposit
itself.

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7.3 Local Geology and Deposit Descriptions

7.3.1 Apensu

7.3.1.1 Apensu Main

The Apensu deposit is located on the main Kenyasi Thrust Fault zone at the southern edge of the
Ahafo trend. It is considered to be a Kenyasi-style deposit, localized in a right-hand jog in the
thrust fault. The term “Apensu Main” is used for the portion of the deposit that was amenable to
open pit mining methods. When open pit mining commenced, the deposit had dimensions of
3.8 km x 600 m and had been tested to 500 m vertical depth.
Mineralization was developed in mylonitic to cataclasite units along the sheared contact between
footwall Birimian volcano–sedimentary units and hanging wall granodiorite. Footwall units
included phyllonite (PHY), meta-volcano–sedimentary units (MV) and mixed mylonitic volcano–
sedimentary units (GVM). Late-stage fine-grained aplite dikes that are sub-parallel to the Kenyasi
Thrust Fault were logged but could represent fine-grained mylonite zones.
The shear zone varied in width from about 10–75 m in true width, with gold mineralization grading
>0.5 g/t Au and varying from 30–150 m in width. Higher gold grades (>5 g/t Au) were hosted in,
or immediately adjacent to, strongly-altered quartz–calcite veined cataclasite. The veins ranged
from veinlets of 0.1–3.0 cm in width to silica-rich veins that ranged from 2–10 cm in width.
Gold grades of about 0.5–1.5 g/t Au were more commonly developed in the fractured, moderately-
altered hanging wall granodiorite. Lower-grade material typically formed a halo 20–80 m in width.
Where elevated gold grades were noted in drill core from the hanging wall, the gold grades
appeared to be hosted in fine stringer quartz veins. Footwall units were also mineralized; however,
gold grades of between 0.01–3.0 g/t Au were restricted to a 5–40 m halo in the mixed mylonite
unit.
The deformational history of some veins in Apensu Main indicates that the veins are faulted into
segments that are elongated parallel to bedding with increased concentrations of pyrite and
carbonates along their margins. Such veins occur in moderately- to strongly-altered zones of host
rock.
Six structural components were identified within the Apensu Main deposit. From oldest to
youngest, these are:
 A zone of plastic deformation in the footwall mixed mylonite zones, graphitic and
meta-volcano–sedimentary units;
 Three hanging wall splays off the Kenyasi Thrust, named S1, S2 and S3, forming
zones of mylonite that display brittle reactivation;
 A splay fault in the footwall that is interpreted as a plastically-deformed, locally
anastomosing shear zone and is marked with graphite;
 A cataclasite unit that is formed by brittle deformation and re-activation of the rigid
granitoid forms finely-crushed rock with local tectonic breccias.
Four types of alteration were recognized, from least to most altered:

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 Code 0: greenschist minerals including chlorite, calcite and rare pyrite but no
evidence of hydrothermal alteration;
 Code 1: slightly bleached due to the alteration of some chlorite to paler micas;
contains ankerite and rare siderite plus calcite veinlets and patches of pyrite (less
than 1%) and rare thin milky quartz veins (1 cm to 3 cm width) with occasional
associated visible gold;
 Code 2: grayish to yellowish massive silica and sericite patches that are 1 cm to 10
cm in width and are controlled by small brittle shears or mylonitic zones;
 Code 3: pervasively silicified rock with strong sericite, rare iron carbonate veinlets,
local albite as disseminated crystals, and the complete destruction of chlorite.
Mineralization is characterized by an association of silica–albite–carbonate–white mica–pyrite
alteration, quartz veining and brittle chlorite-filled fractures. Better gold mineralization is developed
in quartz–calcite veins associated with pyrite grains that can vary from fine disseminations to
1.5 mm in size. Gold occurs as single grains 1–20 µm in diameter but also commonly occurs in
clusters of grains from 5–10 µm. There does not appear to be an association of gold with either
arsenopyrite or rutile, and the gold is generally silver-poor, with <5 ppm Ag.
Visible gold occurs in the veined cataclasite. Locally, 0.2–2.0 cm wide quartz veins can return
assays with more than 32 g/t Au from coarse gold. In the oxide zone, gold is associated with
coarse goethite pseudomorphs after euhedral pyrite. Gold grains in the oxidized zone range from
5–10 µm. Manganese oxides are also observed in oxide mineralization.
A section through the Apensu Main deposit is included as Figure 7-3. The figure displays typical
drill sample orientations and drilled intercept widths in relation to true thickness of mineralization.

7.3.1.2 Apensu Deeps

Apensu Deeps represents a series of steeply-dipping, structurally-controlled, high-grade shoots
beneath the Apensu open pit, and the two areas share similar structural relationships and controls.
Apensu Deeps has dimensions of 3.9 km x 600 m and is tested to about 800 m vertical depth.
The Apensu Deeps area is subdivided into four zones, Apensu South, Apensu Gap, Apensu Main,
and Apensu North. Mineralization remains open at depth in all zones, and to the north in Apensu
North.
The deposits are hosted and aligned with the Kenyase Fault and secondary splays and typically
have moderate to steep dip towards the southeast. High-grade mineralization plunges vary from
sub-vertical (Apensu South) to moderate southwesterly (Apensu Main and lower areas of Apensu
North) to shallow southwesterly (upper areas of Apensu North).

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Figure 7-3: Cross-Section, Apensu Main

Note: Figure prepared by Newmont, 2019

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Shear zone fabrics and fault geometries were inherited from early compressional deformation and
include a strong cataclastic deformation of the hanging wall granitoids interpreted to be analogous
to a crush breccia. Mineralized hanging wall splay faults are evident in the Apensu Main pit, and
are well documented in drill core from Apensu Deeps. The intersection of these faults with the
Kenyasi thrust appears to exert a primary control on the higher-grade ore-shoots as shown in
Figure 7-4. The block model grades are used to highlight the structural controls and orientation of
the higher-grade mineralization in that figure, with red representing grades >3 g/t Au.
The Apensu Gap area is different to the Apensu South and Apensu Main zones, as the area lacks
the mafic unit that is associated with Apensu South, and the cataclasis is very weak. In this area,
it appears that low-angle faults control and limit the extent of better grade gold mineralization.
Apensu North is developed in a structural jog repetition on the Kenyasi Fault beneath the Apensu
Main deposit (refer to Figure 7-4).

7.3.2 Subika
The Subika deposit is located about 2 km southeast of the Apensu Main deposit. It is developed
in the hanging wall of the Kenyasi Thrust Fault but lies on a separate and parallel fracture zone
(MFZ) to the fracture that hosts the Kenyasi-style deposits. As mineralization is hosted entirely
within the Dixcove granitoid suite, Newmont considers it to be representative of a separate
mineralization style.
The Subika deposit has horizontal dimensions of approximately 2.2 km x 400 m, and is tested to
about 1 km in vertical depth. Subika mineralization remains open at depth and along strike.
There is little development of either duricrust or saprolite, due to erosion associated with the old
Tanoso River. Oxidation is limited to a thin (5–15 m) zone of complete oxidation of bedrock,
followed by an irregular zone of partial oxidation extending as much as 20 m into primary bedrock.
Better grades of gold mineralization occur in dilatant zones (MFZ), ranging in width from 1–60 m.
Hanging wall lower-grade mineralization tends to extend only about 30 m from the dilatant zones.
Higher grade shoots within the dilatant zones plunge south at 20º to 70º. The high-grade zones
appear to be controlled by dilatant left jogs in the MFZ created by offsets across the mylonite
zones.
Four granitoid subset lithologies are recognized: diorite, gabbro, microdiorite, and diorite–gabbro
mixed. Aplite and pegmatite dikes cross-cut the granitoid material.

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Figure 7-4: Apensu Deeps Plan View

Note: Figure prepared by Newmont, 2018. APS = Apensu South, APM = Apensu Main, and APN = Apensu North. Dashed blue line
is interpreted fault.

Four structural zones are defined:

 The Victor Fault on the southern end of Subika is a major shear zone, 2–6 m wide,
striking N60ºE, and dipping approximately 20–30º to the southeast. It locally
anastomoses into three branches (Victor, Victor A, and Victor Lower Faults). It is
cross-cut by dilatant breccias and brittle shears throughout, and displaces the Subika
mineralization by as much as 40 m in an apparent left-lateral sense;
 The Kaalbas Fault lies just oblique to the overlying Victor fault, with a slightly more
easterly trend and shallower dip;
 The Hatch Zone appears to be an anastomosing, almost east–west-trending
structure, with two to three individual planes, each with 1 m to 3 m thickness
developed within an overall 6–25 m wide structural zone. Mineralization appears to
be displaced by about 50 m in the zone;
 The Deep One shear is apparently confined to the northern end of the deposit.
Alteration associated with the Subika deposit is chemically similar to that in the Kenyasi-style
deposits.
Mineralization is hosted in the MFZ, which typically contains >2–5 g/t Au over widths of 5–50 m.
Quartz and carbonate veinlets are common with thickness between 1–50 mm. They form

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stockworks in some instances and most of the veins are impregnated with pyrite, and in some
cases with sparse visible gold at the contact with the host rock.
A section through the mineralization is given in Figure 7-5. The figure displays typical drill sample
orientations and drilled intercept widths in relation to true thickness of mineralization.

7.3.3 Awonsu
The Awonsu deposit is located approximately 1 km to the northeast of the Apensu deposit in a
right-hand jog of the Kenyasi Thrust Fault and is a continuation of the Apensu mineralizing system.
The two deposits are separated by a zone of lower-grade, sub-economic mineralization. Awonsu,
like Apensu Main, is mined out.
The Awonsu deposit had horizontal dimensions of approximately 1,800 m x 150 m, and was tested
to 450 m vertical depth. The mineralization remains open at depth and towards the north along
strike.
Overlying the deposit was a 1–7 m thick zone of transported duricrust that in places consisted of
a cemented ferruginous cap of eluvial/alluvial fragments and iron oxide pisolites. Underlying the
duricrust was a zone of intense weathering. The primary lithological units in the Awonsu deposit
were altered to a depth of 40 m to saprolite, intensely oxidized, leached, and mottled and contain
saprolite clay and quartz fragments.
Footwall to the mineralization is a mixture of mafic volcanic and pelitic to turbiditic sedimentary
units. The hanging wall is composed of granodiorite. Mixed mylonitic and cataclasite units and
dilatant breccias, developed during plastic and ductile deformation occur in the sheared contact
between the footwall and hanging wall. Late-stage fine-grained aplite dikes that are sub-parallel
to the Kenyasi Thrust Fault were logged but may represent fine-grained mylonite zones.
Awonsu mineralization was typically more disseminated than that at Apensu. The shear zone
varied in true width from 5–100 m, with gold mineralization >0.5 g/t Au ranging from 5–150 m in
width.
Higher gold grades (>1.5 g/t Au) were hosted in, or immediately adjacent to, strongly-altered
cataclasite, forming zones from 5–60 m in width. Grades >5 g/t Au were rare, but high-grade
zones could be as much as 30 m wide. Gold grades of 0.5–1.5 g/t Au were more commonly
developed in the fractured, moderately-altered hanging wall granodiorite.
Lower-grade material typically formed a halo of 2–50 m in thickness. Locally, particularly on the
northern side of the deposit, higher-grade areas within the hanging wall alteration zone occurred
in discontinuous mylonite zones, and in fine stringer quartz veins. A narrower low-grade halo,
ranging in width from 5–30 m, occurred in the footwall. As with Apensu, higher-grade shoots were
associated with a southward plunge. Typically, the shoots averaged about 2–5 g/t Au versus
>5 g/t Au in Apensu. Awonsu is the only deposit in Ahafo South where multiple generations of
cross-cutting milky to opaque quartz veinlets with open-space filling of minor pyrite and gold
mineralization were observed.

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Figure 7-5: Typical Section, Subika

Note: Figure prepared by Newmont, 2019.

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Five structural domains were logged. The oldest is the Kenyasi Thrust Fault. Two hanging wall
duplex splays off the thrust, Kenyasi Splay 1 Fault and Kenyasi Splay 2 Fault are characterized
by locally anastomosing zones of mylonite in granodiorite. The Kenyasi Footwall Splay Fault is
distinguished as a plastically deformed, locally anastomosing shear zone marked by graphite. The
youngest structure is the cataclasite unit, which may be a later brittle sinistral re-activation of the
Kenyasi Thrust Fault.
Alteration was similar to that described for the Apensu deposit but was typically less intense. Two
additional codes were used at Awonsu, Alteration Codes 4 and 5, which differentiated areas of
stockwork veining (Code 4) and milky sheeted veins (Code 5). In the oxidized zone, gold grains,
ranging in size from 5–10 µm, were associated with pyrite or occur as inclusions in or marginal to,
goethite of pyrite origin. In primary material, gold was predominantly associated with pyrite. Gold
occurred mostly as inclusions within the pyrite or as sub-micrometer size veinlets. Gold particles
usually ranged from 2–30 µm. Pyrite grains occurred both as euhedral and subhedral crystals as
large as 1.5 mm in size.
Multiple generations of cross-cutting milky to opaque quartz veinlets with open-space filling of
minor pyrite and gold mineralization were observed. These stockwork veins commonly contained
visible “coarse gold”, returned very high-grade grab sample assays, and generally occurred in
highly-altered granitoid or cataclasite zones.
Distinct, sheeted, sub-parallel milky quartz veins, 0.1–2 cm in width, with minor pyrite and
occasional coarse gold, cross-cut fresh to weakly-altered hanging wall granodiorite. The milky
veins generally occurred in sets of 2–10 veinlets that were separated by 10 cm to 1 m.
An example section through the Awonsu deposit is included as Figure 7-6.

7.3.4 Amoma
The Amoma deposit is at the southern end of the Bosumkese Forest Reserve, about 11 km
northeast of the Apensu deposit. It is considered to be a representative of Kenyasi-style
mineralization, developed on the sheared contact between mafic volcanic rocks, metasedimentary
rocks and Dixcove granites. The Amoma occurrence is separated from Awonsu by a sparsely-
drilled zone of what appears to be lower-grade and thinner mineralization along the re-activated
Kenyasi Thrust Fault.
The deposit has horizontal dimensions of 1,500 m x 170 m, and is tested to approximately 300 m
vertical depth. Mineralization remains open at depth.
Footwall rocks comprise a mixture of mafic volcanic units, and pelitic to turbiditic sedimentary units
of the Birimian succession. Granitoids of dioritic to tonalitic composition comprise the hanging
wall. Granitoids were overthrust onto the volcano–sedimentary units, producing a number of
different plastically-deformed and mixed granitoid and volcano–sedimentary units (mixed
mylonite). Cataclasite and associated dilatant breccias formed from the earlier rock types during
later brittle faulting. Late-stage aplite dikes that parallel the Kenyasi Thrust Fault cross-cut all
earlier lithologies. Overlying the deposit is a layer of duricrust, which can be 8 m thick, comprising
iron pisolites and transported alluvial cobbles. Saprolite is from 20–50 m thick.

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Figure 7-6: Typical Section, Awonsu

Younger
DUR Duricrust
SAP Saprolite
DK/MDK/ADK XXXX Dike
DBX Dilatent Breccia
CAT Cataclasite after GD
PHY Phyllonitized MV
GVM Mylonite after GD and volc-sed units
MY Mylonite/Ultramylonite after GD
GD Granitoid
Older MV Mafic Volcanic

Note: Figure prepared by Newmont, 2016.

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Gold mineralization is developed primarily in the cataclasite unit. Mineralized zones that host gold
grades >0.5 g/t Au range in width from 10–110 m. Higher-grade material (>1.5 g/t Au) is developed
in the cataclasite, but lower-grade (0.5–1.5 g/t Au) mineralization locally occurs as a 20–50 m wide
halo in the hanging wall granitoids. A narrower, lower-grade halo also occurs in the footwall mixed
mylonite units, ranging from 0–30 m in width.
Amoma represents a more structurally-deformed deposit relative to the other Kenyasi deposits at
Ahafo South, and is interpreted as possibly representing a transition to deposit styles more similar
to those found in the Ahafo North area.
Four structural events are identified. The earliest is the Kenyasi Thrust Fault. The Footwall Fault
may be contemporaneous with, or part of, the Kenyasi Thrust Fault. It is a locally anastomosing
ductile shear zone marked by graphite in the footwall of the Kenyasi Thrust Fault. Later hanging
wall duplex splay faults, Splay 1 and Splay 2 Faults, are sub-parallel to the Kenyasi Thrust Fault.
These splays are locally marked by anastomosing zones of mylonite and dilatant breccia. The
latest event is the development of the cataclasite unit, which represents later brittle sinistral
reactivation of the Kenyasi Thrust Fault.
Alteration is characterized by strong silicification, zones of albitization, and as much as 5% fine to
medium-grained pyrite. Brittle deformation overprints the pervasive alteration and is characterized
by cross-cutting chlorite.
Mineralogical investigation indicates gold predominantly occurs in association with pyrite, mostly
as inclusions. The grain size of gold particles is usually 2–30 µm. Pyrite grains occur both as
euhedral and subhedral crystals as large as 1.5 mm. In oxide samples, gold predominantly occurs
as inclusions or as discrete grains marginal to goethite/limonite of pyritic origin. Gold grains in
oxides range from 5–10 µm.
A section through the Amoma deposit is included as Figure 7-7.

7.4 QP Comments on “Item 7: Geological Setting and

Mineralization”
In the opinion of the QP:
 The understanding of the Ahafo South deposit settings, lithologies, and geological,
structural, and alteration controls on mineralization is sufficient to support estimation
of Mineral Resources and Mineral Reserves;
 The geological knowledge of the Project area is acceptable to reliably inform mine
planning.

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Figure 7-7: Typical Section, Amoma

Note: Figure prepared by Newmont, 2016.

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8.0 DEPOSIT TYPES

8.1 Overview
The deposits discovered to date in the Project area are considered by Newmont to be typical of
mesothermal vein-style, or orogenic-style gold deposits. The discussion below is sourced from
Moritz (2000), Goldfarb et al., (2005), and Groves et al., (1998; 2003).
Orogenic deposits have many synonyms, including mesozonal and hypozonal deposits, lode gold,
shear zone-related quartz–carbonate deposits, or gold-only deposits.
Orogenic gold deposits occur in variably deformed metamorphic terranes formed during Middle
Archean to younger Precambrian, and continuously throughout the Phanerozoic. The host
geological environments are typically volcano–plutonic or clastic sedimentary terranes, but gold
deposits can be hosted by any rock type. There is a consistent spatial and temporal association
with granitoids of a variety of compositions. Host rocks are metamorphosed to greenschist facies,
but locally can achieve amphibolite or granulite facies conditions.
Global examples of these deposits include Muruntau (Uzbekistan), Golden Mile (Australia),
Hollinger-McIntyre-Moneta (Canada), Jamestown (USA), and Obuasi (Ghana).
Gold deposition occurs adjacent to first-order, deep-crustal fault zones. These first-order faults,
which can be hundreds of kilometers long and kilometers wide, show complex structural histories.
Economic mineralization typically formed as vein fill of second- and third-order shears and faults,
particularly at jogs or changes in strike along the crustal fault zones. Mineralization styles vary
from stockworks and breccias in shallow, brittle regimes, through laminated crack-seal veins and
sigmoidal vein arrays in brittle-ductile crustal regions, to replacement- and disseminated-type
orebodies in deeper, ductile environments.
Mineralization can be disseminated, or vein hosted, and displays a timing that is structurally late,
and is syn- to post-peak metamorphic. Quartz is the primary constituent of veins, with lesser
carbonate and sulfide minerals. Minor accessory albite, chlorite, white mica (fuchsite in ultramafic
host rocks), tourmaline, and scheelite can accompany the veins. Carbonates include calcite,
dolomite, and ankerite. Sulfide minerals can include pyrite, pyrrhotite chalcopyrite, galena,
sphalerite, and arsenopyrite. Gold is usually associated with sulfide minerals, but native gold can
occur. In volcano–plutonic settings, pyrite and pyrrhotite are the most common sulfide minerals
in greenschist and amphibolite grade host rocks, respectively. Arsenopyrite is frequently the
predominant sulfide mineral in orogenic deposits that are hosted by sedimentary rocks; however,
it is not common in the Ahafo deposits. Gold to silver ratios typically range from 5:1 to 10:1 and,
less commonly, the ratios can reach 1:1. The Ahafo deposits are typically very low in silver. Most
orogenic gold deposits contain 2% to 5% sulfide minerals and gold fineness >900.
Alteration intensity is related to distance from the hydrothermal fluid source, and typically displays
a zoned pattern. Scale, intensity, and mineralogy of the alteration are functions of wall rock
composition and crustal level. The main alteration minerals include carbonate (calcite, dolomite,
and ankerite), sulfides (pyrite, pyrrhotite or arsenopyrite), alkali-rich silicate minerals (sericite,
fuchsite, albite, and less commonly, K-feldspar, biotite, paragonite), chlorite, and quartz.

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The larger examples of orogenic deposits are generally 2–3 km long, about 50–100 m wide, and
can persist over as much as 2 km in vertical extent.

8.2 QP Comments on “Item 8: Deposit Types”

Features that the Ahafo South deposits display that are typical of orogenic deposits include:
 Regional greenschist to lower amphibolite grade metamorphism;
 Development in a volcano–plutonic terrane, association with granitoids (Dixcove
suite);
 Association with a regional fault system (Kenyasi Thrust Fault);
 Mineralization typically hosted in later-stage structures;
 Strong structural control on mineralization, related to jogs and rheology contrasts;
 Better grades associated with cataclasite and tectonic breccias;
 Vein and disseminated mineralization styles;
 Veins typically consist of quartz and carbonate;
 Gold mineralization in association with pyrite; gold can occur as free grains;
 Alteration is zoned, from distal to proximal to the hydrothermal fluid source.
The QP considers that exploration programs that use an orogenic gold model are a reasonable
basis for exploration targeting in the Project area.

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9.0 EXPLORATION

9.1 Introduction
Exploration commenced on the Project in 1989, and has been nearly continuous since, except for
a hiatus between 2000 and 2002.
Table 9-1 shows a summary of the exploration work and the name of the company who performed
the work, exclusive of drilling, completed to end 2018.

9.2 Grids and Surveys

Normandy used differing local, rotated mine grid co-ordinate systems for the various deposits. In
2003, Newmont unified the local mine grids into one, unrotated project grid based upon the
“Ghana National Grid”.
In 2005, with introduction of MineSight™ software, Newmont staff converted the models and mine
plans for the active pits to a rotated grid system that generally followed the strike of the deposits.
The disadvantages of this were that the grid system limited staff to the use of software capable of
using rotated grids, and it added to the complexity of planning and operations and interfacing with
other Project departments that use unrotated grid systems. Additionally, the strikes of the
northern Ahafo deposits differed from the strikes of the southern deposits, so it would not be
possible to use a consistent rotated grid for the life of the Project.
In 2006, a decision was made to revert to an unrotated grid, the “Unified Ahafo Mine Grid”, for the
entire Project. All existing drill hole collar coordinates were recomputed to the Unified Ahafo Mine
Grid. This grid is based on the existing Ghana National Grid plus the addition of 1,000 m to the
elevation in order to avoid negative elevations for mining purposes. For example, the database
for Awonsu, which was transferred from the Ghana National Grid (GNG) onto the local Kenyase
Mine Grid (KMG), where a value of 1,000 m was added to the reduced level (RL) coordinates to
avoid the occurrence of negative RL values in the resource models and the mining benches, has
now been transferred to Unified Ahafo Mine Grid. As block models are updated, the deposits are
“raised” to the new system.
The airborne survey used to construct the digital terrain model (DTM) for Ahafo South was flown
in 2004 before mining commenced. The topographic plans and DTM constructed from the survey
have an accuracy of ± 1.1 m in x, y, and z directions.

9.3 Geological Mapping

During 2004, a regional-scale regolith mapping program was completed. About 450 observation
points were mapped over the Ahafo district to validate aerial photography, radiometric and
aeromagnetic data interpretations.

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Table 9-1: Exploration Summary

Work Program Year Company Comments

Geological 1997 BRGM Structural analysis
mapping, 1999 Normandy Review of mineralization controls
structural studies 2000 Normandy Airborne magnetic survey data interpretation
2004 Newmont Regional-scale regolith mapping
2005 Newmont, OSGS Airborne magnetic survey data interpretation
2006 RSG Global Regional-scale structural and geological
mapping of 150 km2 area south of Kenyase
2006 Josef Klominsky Geological interpretation of the entire Sefwi Belt
1:50,000 scale geological mapping of Ahafo
2007 Dr Cees Swager Project area
Ongoing pit and drill core structural evaluation
2010 Newmont
Stream sediment Pre-1995 Various 1,563 samples at a density of 2.2 samples per
sampling square kilometer, over an area of 720 km2
1995–2002 Normandy, Newmont 946 samples
Soil sampling 1998–2008 Various Total of 55,487 samples
Geophysical 1994–date Gencor, Rank Mining, Airborne magnetics and high-resolution
surveys Newmont magnetics; induced polarization; ground
magnetics; VLF; electro-magnetics; ground
gravity
Petrographic, 1991–2002 Rank Mining, Normandy, Petrology to support lithological interpretations;
mineralogical, and RSG Global, Newmont mineralogy for acid-neutralization studies and to
lithogeochemical support metallurgical testwork.
Studies
Geotechnical ongoing Golder Associates, Bawden Numerous studies from 1991 to date
studies Engineering Limited, SRK
Consulting, Newmont
Hydrological ongoing Golder Associates, Newmont Numerous studies from 1991 to date
studies
Theses 2011 MSc: Structural Evolution of the Subika Deposit
– E. Baah-Danso
2017 PhD: Sefwi Belt – H. Mcfarlane

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By the end of 2010, Newmont had completed 1:50,000 regional-scale geological and structural
mapping across the Ahafo Project area to delineate areas of outcrop, alteration, faulting, and
silicification that could act as additional vectors to mineralization and to support drill targeting.
Data locations from field outcrops are recorded using Trimble Terrasync™ and global positioning
system (GPS) Pathfinder™ office software. Templates for data collection are defined using GPS
Pathfinder™ office software and uploaded to a Pocket personal computer (PC). Omni Star™
satellite service provides sub-meter accuracy real-time GPS location data. Each field datum
recorded by geologists is tagged with coordinates.
All pit and underground exposures are mapped as they become available, with emphasis on
lithology, structural relationships and alteration, to help support folio development and
understanding of key mineralization controls. These data are further applied to resource model
development as well as exploration targeting.

9.4 Geochemical Sampling

9.4.1 Stream Sediment Sampling

Stream sediment sampling completed prior to 1995 included collection of 1,563 samples at a
density of 2.2 samples/km2. Sampling covered an area of about 720 km2, defining gold anomalies
in the Kenyasi, Ntotoroso, and Subenso areas. Many of these early-stage exploration data are
not in the Newmont databases, and are superseded by more focused exploration drilling and
geological mapping programs.
From 1995, Normandy, and then Newmont, collected bulk-leach extractable gold (BLEG) stream
sediment samples (Table 9-2) for a total of 946 samples. Locations for the post-1995 data are
shown in Figure 9-1. Note that these locations include areas outside of the Ahafo South
Operations, either part of Ahafo North, or taken in areas that Newmont no longer holds under
mineral tenure.

9.4.2 Soil Sampling

In 1991, Minconsult conducted a soil survey on 50 m x 400 m grid spacing, confirming a 1989–
1991 anomaly at Yamfo identified by regional sampling by the Ghanaian-German Mineral
Prospecting Project. Sample results indicated a zone of anomalous gold about 9 km in length in
the Yamfo area. There are no data on the numbers of samples taken.
During the Normandy–Newmont exploration programs of the late 1990s to 2000s, a total of 55,487
soil samples were collected (Table 9-3). Sample locations are shown in Figure 9-2. Normally,
little outcrop is available in the Project areas, but lithologies that crop out are float sampled where
available. Note that these locations include areas outside of the Ahafo South Operations, either
part of Ahafo North, or taken in areas that Newmont no longer holds under mineral tenure.

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Table 9-2: Stream Sediment Sampling

Newmont Stream Sediment Cumulative

Area Normandy Stream Sediments
Samples Total
1995–2001 2004 2005 2006 2007 2008 By Area
Bosumkese 24 — 10 5 14 — 53
Ntotoroso 21 — 10 5 11 — 47
Kenyasi 54 10 3 10 19 — 96
Goa — 10 75 7 40 — 132
Tweapease — — 3 20 27 — 50
Goaso — — — — 13 — 13
Mampehia — — — — 1 — 1
Dekyem — — — — 1 — 1
Tweapease B — — — — 10 — 20
Azumah — — — — — 117 117
Birim JV — — — — — 57 57
Banda — — — — — 57 57
Tanoso — — — — — 22 22
Abofoo North — — — — — 14 14
Abofoo South — — — — — 15 15
Sabronum — — — — — 20 20
Sireso — — — — — 29 29
Kasutie — — — — — 35 35
Kyekyewere — — — — — 2 2
Totals by Year 99 20 101 47 136 368 781
Note that these locations include areas outside of the Ahafo South Operations, either part of Ahafo North, or taken in areas that
Newmont no longer holds under mineral tenure.

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Ahafo Streams Figure 9-1: Stream Sediment Sample Locations

Tanoso

Subenso

Yamfo
Goa

Bosumkese
Tanoso

Kenyase West

Kenyase
! Sample Locations
Twapease A AHAFO PROJECT

Ntotoroso
Goaso

Twapease B
Mampehia
©
0 50 100 200 300
Kilometers

Dekyem

Note: Figure prepared by Newmont, 2010. Note that these locations include areas outside of the Ahafo South Operations, either
part of Ahafo North, or taken in areas that Newmont no longer holds under mineral tenure.

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Table 9-3: Soil Sampling

Cumulative
Area 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Total by
Area
Bosumkese 129 219 219 629 550 678 1,504 247 — — — 4,175
Ntotoroso 164 500 520 120 522 365 487 — — — — 2,678
Kenyasi — 206 700 784 665 789 1,550 666 — — — 5,360
Goa — — — — — — — — — — — —
Tweapease — — — 1,250 901 665 750 110 — — — 3,676
Goaso — — 1,197 1,890 580 258 180 — — — — 4,105
Mampehia — — 250 521 114 562 145 499 2,420 — — 4,511
Dekyem — — — — — — 320 376 — — — 696
Tweapease B — — — — — 3,601 2,100 737 — — — 6,438
Abofrem — — — — — — — — — — 328 328
Asuenta Essem — — — — — — — — — — 888 888
Asuontaa — — — — — — — — — — 21 21
Patakoro — — — — — — — — — — 907 907
Kogyina — — — — — — — — — — 497 497
Edmmiralds — — — — — — — — — — 387 387
Totals by Year 293 925 2,886 5,194 3,332 6,918 7,036 2,635 2,420 — 3,028 34,667
Note that these locations include areas outside of the Ahafo South Operations, either part of Ahafo North, or taken in areas that Newmont no longer holds under
mineral tenure.

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Figure 9-2: Soil Sample Locations

Tanoso

Subenso

Yamfo
Goa

Bosumkese
Tanoso

Kenyase West

Kenyase
! Sample Locations
Twapease A AHAFO PROJECT

Ntotoroso
Goaso

Twapease B
Mampehia
© N

0 50 100 200 300

Kilometers

Dekyem

Ahafo soils
Note: Figure prepared by Newmont, 2010. Note that these locations include areas outside of the Ahafo South Operations, either
part of Ahafo North, or taken in areas that Newmont no longer holds under mineral tenure.

During 2017–2018, a total of 1,116 “deep-sensing geochemistry” soil samples were collected at
Ahafo North, and 3,228 deep-sensing geochemistry soil samples were collected at Ahafo South.
The deep-sensing geochemistry is proprietary Newmont technology, applied in areas where there
is no outcrop exposure due to extensive cover. Following the surveys, a “score” is applied to the
area investigated, based on geological aspects of interest (e.g. lithology, alteration,
mineralization). As assay results are still being received, no data interpretation had been
completed as of the Report effective date. Sample locations are provided in Figure 9-3.

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Figure 9-3: Deep-Sensing Geochemistry Sample Locations

Note: Figure prepared by Newmont, 2019.

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9.5 Geophysics

9.5.1 Airborne Geophysics

During 1994, Gencor undertook an airborne magnetic survey over the western contact of the
Sefwi belt with the Sunyani basin, where the contact fell within the Project area. The survey was
flown at 200 m line spacing and covered about 1,450 km2.
More recently, two high-resolution magnetic and radiometric surveys were flown over Ahafo; the
first was in 2005 and the second during 2007. The 2005 survey was at 100 m line spacing, for
1,124 line-kilometers and covered 96.9 km2 of Ahafo central. The 2007 survey was flown by
Fugro Airborne Surveys of South Africa. The flying height was approximately 40 m at 100 m line
separations. A total of 3,940 line-kilometers were flown, and the survey area covered 349.6 km2.
A location map that shows survey boundaries is included as Figure 9-4. The surveys, as shown,
extend across the Ahafo district, and include areas outside of the Ahafo South operations, either
part of Ahafo North, or areas that Newmont no longer holds under mineral tenure.
The high-resolution airborne surveys were useful in mapping the structures controlling
mineralization in the Ahafo district on a detailed and refined scale. The data were used to enhance
the existing geological interpretations over the area. Magnetic inversions performed using the
datasets were useful in the generation of quality targets within the Ahafo district.

9.5.2 Ground Geophysics

Rank Mining contracted SJ Geophysics to complete IP/resistivity surveys on the Ntotroso License
in 1999. Dipole-dipole spacings were 50 m, and the very low frequency (VLF) survey was at 25
m spacings. The company also completed a ground magnetics survey (10 m spacings) over the
Subika and Area F prospects.
In 2003, Newmont conducted an orientation ground geophysical survey consisting of induced
polarization (IP)/resistivity (gradient array on 25 m x 50 m stations; pole-dipole and dipole-dipole
on 50 m centers), total domain electromagnetics (TDEM), ground magnetics (5 m x 50 m stations)
and ground gravity (50 m x 50 m stations) on the Yamfo South and Subenso deposits in Ahafo
North. Gradient array and pole–dipole IP/resistivity were identified as the most promising
techniques. The resistivity data appeared to map silica alteration which tends to be closely
associated with mineralization. Induced polarization/resistivity surveys were then extended to
cover prospects in the Ahafo South area.
Newmont embarked on an IP/resistivity campaign between 2004 and 2008, in both Ahafo North
and the Ahafo South areas, targeting potential deposit extensions for Kenyasi Central, Teekyere
South, Subenso, Area E/Subika, Yamfo, and Area F. Typically pole–dipole IP data were collected
on 50 m centers, whereas the gravity array was on 25 m x 50 m spacings.

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Figure 9-4: Airborne Survey Locations

Note: Figure prepared by Newmont, 2019. Note the figure is presented at district scale, and includes additional ground to that of the Ahafo South Operations area.

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Ground magnetics data (5 m x 50 m stations) were also collected routinely over the lines that
were cut for the IP/resistivity gradient surveys. The IP/resistivity surveys produced better results
in the Ahafo North area than in the Ahafo South area. In 2006–2008, a semi-regional ground
gravity survey was trialed at Ahafo; results indicate that the method may be a valid exploration
tool for the area. An orientation gravity survey, completed in 2006, indicated that the main Ahafo
deposits were located within gravity gradients. Geophysical surveys in the district are ongoing.
During 2009–2014, at Subika, offset pole–dipole IP survey data were collected, and two lines of
transient electromagnetic (TEM) data completed at Amoma. Ground magnetic surveys were
conducted at the Mampehia prospect. A location map showing the outlines of the gravity and
resistivity surveys is included in Figure 9-5. The surveys as shown extend across the Ahafo
district, and include areas outside of the Ahafo South Operations, either part of Ahafo North, or
areas that Newmont no longer holds under mineral tenure

9.6 Pits and Trenches

Pits and trenches were, and currently are, dug in areas highlighted as having anomalous assay
results from soil sampling. The intent when pitting is to make contact with bedrock, or at least
saprolite, for sampling and logging purposes. The initial cut is often to chest height for safety
reasons. If additional depth is needed, then a safety layback is cut on at least one side of the
trench.
Samples are normally taken from the side or bottom of the trench on spacings of every 2 m or
less as designated by the supervising geologist. A geological map of lithology, veins, structures,
and alteration is made for each excavation before the excavation is backfilled.

9.7 Petrology, Mineralogy, and Research Studies

Since 1991, a number of structural, petrology, mineralogy, lithogeochemical, and research studies
were completed on the Project.
Structural studies were completed from 2000–2011, using airborne geophysical data to provide
structural interpretations for the Ahafo region. Petrological studies were completed to support
lithological unit identification.
The majority of the mineralogical studies were completed in support of acid neutralization studies.
These are summarized in Section 13.
X-ray diffraction (XRD) and X-ray fluorescence (XRF) studies were completed during 2003–2011
for metallurgical purposes on drill hole composites by Newmont Mineralogical Services.
An MSc. thesis was completed on the structural evolution of the Subika deposit in 2011 by
Emmanuel Baah-Danso. A PhD thesis completed in 2017 by Helen MacFarlane on the Sefwi
Belt included some information from Newmont’s Ahafo exploration databases.

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Figure 9-5: Ground Gravity and Resistivity Survey Locations

Note: Figure prepared by Newmont, 2019.

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9.8 Geotechnical and Hydrological/Hydrogeological Studies

Since 1991, over 50 geotechnical and hydrological studies were completed in support of
feasibility, environmental and mining reports on the Project.

9.9 Exploration Potential

Newmont has an ongoing exploration program in the area of the Ahafo mining operations, known
as “near-mine” exploration, and “brownfields” programs evaluating the potential of the more distal
surrounding district package of prospecting licenses. Properties are added to and removed from
these holdings on a regular basis depending on their perceived potential to produce viable
resource targets. At present, several areas along strike on the Kenyase Thrust Fault, and hanging
wall splays (which includes the MFZ/Subika corridor) are being reviewed by geochemical,
geophysical, and, where applicable, drilling methods.
A comprehensive integration of exploration data sets was completed at Ahafo to allow the
planning of future exploration activities, prioritization of exploration targets, and in developing a
pipeline of emerging projects through a balanced approach to early-stage and advanced
exploration projects.
Within the immediate mining area, exploration programs include the following:
 Subika: testing for extensions of the mineralization to the northeast, and down
plunge of the currently defined limits of the deposit;
 Apensu: Drill testing of the northern strike and plunge extensions to the Apensu
North mineralized shoot.
Near-mine exploration is planned to include:
 Evaluating structurally-favorable zones and potential repetitions along and down-
plunge of the Kenyasi Thrust between the Apensu South and Awonsu deposits;
 Testing down-plunge depth extensions to Subika;
 Drill testing of MFZ (Subika) and adjacent parallel fault trends defined by
aeromagnetic, gradient array resistivity, 3D gravity models, geochemical datasets,
and projections of the important, secondary, shallow angle, low permeability faults
which focus mineralization;
 Drill testing previously-identified geochemical and geophysical anomalies where
these are potentially within trucking distance of the Ahafo process plant.

9.10 QP Comments on “Item 9: Exploration”

In the QP’s opinion:
 The exploration programs completed to date are appropriate to the style of the
deposits and prospects;

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 Additional exploration has a likelihood of generating further exploration successes

particularly depth extensions of known zones.

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10.0 DRILLING

10.1 Introduction
A total of 9,478 drill holes (approximately 1,646,151 m) were completed within the Project in the
period 1990 to December 2018, including 3,606 core holes (966,489 m), 3,512 RC holes drill
holes (231,595 m), 1,476 RC pre-collar/core tail holes (413,674 m), and 1,154 aircore drill holes
(34,393 m).
Between 1992 and 2002, drilling was completed primarily for early-stage, exploration-focused
programs and for initial resource estimates. From 2002, drilling was used to support advanced-
stage project evaluation and deposit and pit delimitation.
Samples and chip trays are stored either at the mine core sheds or the Kenyasi exploration core
sheds.
Aircore drilling is not used to support estimation of either Mineral Resources or Mineral Reserves.

10.2 Drill Methods

10.2.1 Aircore Drilling

Aircore drilling was primarily used as a first-pass evaluation tool of soil sample anomalies to
bedrock. Zones tested are summarized in Table 10-1. Aircore collar locations are provided in
Figure 10-1.
Although named, many of these anomalies remain as early-stage exploration drill targets. Drilling
was completed by multiple contractors during Normandy’s tenure, all of which used aircore-only
drill rigs. The primary drill contractor for the aircore programs completed by Newmont was African
Mining Services (AMS), who used an ED100-type drill rig. Drill holes were primarily oriented at
azimuths between 40º and 324º, with dips ranging from -45º to -90º. Depths ranged from 2–80 m.

10.2.2 RC Drilling
RC drilling was used as a resource delineation tool from 1995 to 2012. Drill contractors included
Boart Longyear (BLY), AMS, and Geodrill. The drilling firms used both dedicated RC and
multipurpose-type drill rigs, including ED703, ED704, ED045, ED062, KL900, KL200, and LF4252
rig types.
RC drilling tested a number of exploration targets and deposits, as outlined in Table 10-2, and
shown in Figure 10-2. Holes were drilled typically at 310º azimuths and -55º dips and generally
did not test below 250 m depth.
RC drilling was also used in the initial infill drilling and resource identification stages completed in
the areas of the Amoma, Apensu, Awonsu, and Subika deposits during 2009–2012.

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Table 10-1: Aircore Drill Summary Table

Meters
No. of
Deposit/Prospect Drilled Years Drilled
Holes
(m)
Ahafo 22 562 2008
Amoma 449 13062 2009
Apensu South 341 10470 2009
Goa 6 248 2008
Goaso 58 2152 2008
Kenyase 79 4093 2009
Nanapof 11 383 2008
Ntotoroso 109 739 2009
Tweapease_A 79 2684 2008
Totals 1,154 34,393

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Figure 10-1: Aircore Drill Collar Location Plan

Note: Figure prepared by Newmont, 2019.

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Table 10-2: RC Drill Summary Table

Meters
No. of
Deposit/Prospect Drilled Years Drilled
Holes
(m)
Ahafo_Sterilization 1,031 41,469.3 2001–2008
Amoma 348 26,046.65 1998–2013
Apensu 401 21,338.24 1997–2016
Apensu South 105 5,316 2010
Awonsu 364 28,088.11 1997–2009
Goaso 102 8,543 2000–2010
Kenyase_West 38 3,340.2 1997–2004
Mampehia 362 27,594.5 2002–2008
Ntotoroso 234 13,470.2 1999–2005
Obengkrom 37 5,341 2004–2013
QAQC_Ahafo 119 7,530.81 1998–2009
Rompad 2 51 2009
Subika 307 36,720.36 1997–2017
Subika_Ug 24 4,568.21 2005–2009
Subriso 34 1,820 2005
Tweapease_A 4 357 2000
Totals 3,512 231,594.58

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Figure 10-2: RC and Core Collar Location Plan, Ahafo South

Note: Figure prepared by Newmont, 2019.

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RC drilling is used in resource estimation; however, the drill holes are examined for smearing and
contamination issues before being approved for use in estimation support.
Samples are stored in trays and bags at the mine core sheds.

10.2.3 Core Drilling

Core drilling is used to support resource estimates, and to infill in areas of predominantly RC
drilling. Core drilling was completed in phases, from 1995 to the present. Holes classified as
core-drilled include both RC pre-collared holes and those wholly drilled as cores.
Drill contractors include BLY, AMS, and Geodrill. The drilling firms used both dedicated core and
multipurpose-type drill rigs, including ED703, ED704, ED045, ED062, KL900, KL200, and LF4252
rig types.
Core drilling is summarized in Table 10-3, and combined RC/core holes are summarized in
Table 10-4. Collar locations are included in Figure 10-2.
Core holes were drilled at 320º azimuths, and -55º dips, and to depths ranging from 15 m to
1,273 m. Core hole collar sizes included 133 mm RC pre-collars, NQ (47.6 mm) and
HQ (63.5 mm) diameter core. Most of the drill holes were HQ-sized.
Since 2005, HQ core has been the standard core diameter because visible gold had been
reported in several of the deposits and the larger core was considered by Newmont to provide
better samples. All core holes for the relevant deposits were used in the Mineral Resource
estimates.

10.2.4 Drilling Used in Mineral Resource Estimation

The Ahafo deposits are nominally drilled to 35 m x 35 m spacing for Measured and Indicated
Resources. Inferred confidence categories would fall in areas drilled to nominal 50 m x 50 m or
wider spacing. The oxide portions of the Awonsu, Apensu, and Subika deposits were drilled to
25 m x 25 m spacing by Normandy.
Table 10-5 to Table 10-8 show the number of drill holes and drill meters by drill types drilled in
each deposit since 1997. Drill hole collar locations by deposit are provided in Figure 10-3 to
Figure 10-6.

10.3 Logging Procedures

10.3.1 Aircore
Aircore drill hole logging included lithologies, alteration, oxidation states, and presence of aquifer
water.

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Table 10-3: Core Summary Table

Meters
No. of
Deposit Drilled Start Date End Date
Holes
(m)
Ahafo 1 150 1-Jul-04 1-Jul-04
Amoma 113 13,464.68 15-Jan-97 10-Apr-14
Apensu 338 126,974.88 13-Jan-98 1-Dec-18
Apensu South 563 187,170.82 22-Mar-10 16-Jul-17
Awonsu 510 97,194.39 13-Dec-96 15-Oct-18
Mampehia 33 4,156.1 9-Feb-04 10-Jun-04
Ntotoroso 1 639.5 7-Mar-05 22-Mar-05
QAQC_Ahafo 15 828.4 22-Sep-98 21-Jul-03
Subika 79 1,971.79 23-May-00 2-Aug-09
Subika_UG 1,308 427,832.65 7-Aug-04 4-Dec-18
Subika_UG_GC 645 106,106.1 4-May-17 26-Dec-18
Total 3,606 966,489.31

Table 10-4: RC Pre-Collar/Core Tail Summary Table

Meters
No. of
Deposit Drilled Start Date End Date
Holes
(m)
Amoma 192 26,222.92 2-Mar-98 2-Jul-04
Apensu 378 80,821.24 20-May-97 29-Sep-09
Awonsu 425 78,286.08 10-Jun-97 28-May-06
Mampehia 59 5,954.3 3-Feb-04 17-Jul-07
Subika_UG 422 222,389.15 4-Feb-04 17-Oct-09
Totals 1,476 413,673.69

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Table 10-5: Apensu Drill Summary Table

1997 1998 1999 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Core 6 4 9 1 7 5 1 5 32 162
Meters 461.7 292.94 749.78 349.74 1,907.71 1,625.65 97.4 333.3 3,953.9 45,960.44
RC/core 16 69 15 38 39 5 5 2
Meters 2,253.17 8,970.32 2,307.7 8,814.03 11,955.9 3,025.3 2,334.4 749.8
RC 62 82 24 2 1 1 24 7 104
Meters 3673 4648 1,448 195 63.5 198 2,112 710 5,276
Total Holes 78 157 43 9 41 47 5 6 24 13 7 136 162
Total Meters 5,926.17 14,080.02 4,048.64 749.78 9,358.77 13,927.11 1,625.65 3,223.3 2,112 3,141.8 1,083.1 9,229.9 45,960.44

2012 2013 2014 2015 2016 2017 2018 Total

Core 234 91 71 72 68 64 62 894
Meters 57,094.38 2,0635.7 37,776 39,898.4 38,119 33,840.9 30,398.6 313,495.54
RC/core 189
Meters 40,410.62
RC 75 46 428
Meters 2,520 1,174 22,017.5
Total Holes 234 91 71 147 114 64 62 1,511
Total Meters 57,094.38 20,635.7 37,776 42,418.4 39,293 33,840.9 30,398.6 375,923.66
Note: table includes Apensu Deeps drilling.

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Table 10-6: Subika Drill Summary Table

1998 1999 2000 2004 2005 2006 2007 2008 2009 2010 2011
Core 2 1 3 30 4 149 245
Meters 773.45 600.21 2,806.42 5,984.7 1,585.8 47,671.24 41,333.3
RC/core 77 58 35 5 20 18
Meters 25,972.24 33,170.77 26,393.66 4,212.34 13,915.6 8,761.3
RC 2 89 64 15 15 5 25 2
Meters 139.2 11,520.74 8,883.93 2,126.3 2,463.51 774 1,827 910.1
Total Holes 2 89 64 94 74 40 8 75 24 149 245
Total Meters 139.2 11,520.74 8,883.93 28,871.99 36,234.49 27,167.66 7,018.76 21,727.3 11,257.2 47,671.24 41,333.3

2012 2013 2014 2015 2016 2017 2018 Total

Core 207 150 104 222 52 188 537 1,894
Meters 51,057 75,153.8 42,335.85 66,737.8 30,056.1 42,999 111,623 52,0717.67
RC/core 213
Meters 112,425.91
RC 15 232
Meters 1077 29,721.78
Total Holes 207 150 104 222 52 203 537 2,339
Total Meters 51,057 75,153.8 42,335.85 66,737.8 30,056.1 44,076 111,623 662,865.36
Note: table includes Subika underground drilling.

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Table 10-7: Awonsu Drill Summary Table

1996 1997 1998 1999 2003 2004 2005 2006 2008 2009 2010 2011
Core 1 1 7 11 3 14 15 44
Meters 55 56.6 749.3 1,160.36 925.86 2,616.11 1,304.3 2,269.94
RC/core 7 74 9 45 13 41 24
Meters 844.9 8,697.98 1,194.89 7,327.19 3,362.55 11,206.76 6725.34
RC 23 218 59 12 3 13 7 9
Meters 1,305 13,151.6 2,975.59 975.5 424 24,44.3 2,473.82 2,889.8
Total Holes 1 31 299 79 60 30 54 24 7 9 15 44
Total Meters 55 2,206.5 22,598.88 53,30.84 9,228.55 6,402.66 13,651.06 6725.34 2,473.82 2,889.8 1,304.3 2,269.94

2012 2013 2014 2015 2016 2018 Total

Core 28 237 8 17 3 117 506
Meters 6,060.3 58,711.4 3,010 8,401 1,417.6 10,143.5 96,881.27
RC/core 213
Meters 39,359.61
RC 344
Meters 26,639.61
Total Holes 28 237 8 17 3 117 1,063
Total Meters 6,060.3 58,711.4 3,010 8,401 1,417.6 10,143.5 162,880.49

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Table 10-8: Amoma Drill Summary Table

1997 1998 1999 2003 2004 2008 2009 2012 2014 Total
Core 6 5 10 2 1 9 68 101
Meters 628.04 406.23 608.73 342.37 327.4 2,209.7 7,335.5 11,857.97
RC/core 21 46 21 9 97
Meters 2,696.42 4,979.94 3,634.47 1,905.23 13,216.06
RC 54 119 2 7 40 6 228
Meters 3,159.73 5,944.54 192 1,227.7 2,861 1,479.2 14,864.17
Total Holes 6 80 175 23 18 40 7 9 68 426
Total Meters 628.04 6,262.38 11,533.21 3,826.47 3,475.3 2,861 1,806.6 2,209.7 7,335.5 39,938.2

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Figure 10-3: Apensu Drill Collar Location Plan

Note: Figure prepared by Newmont, 2019

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Figure 10-4: Subika Drill Collar Location Plan

Note: Figure prepared by Newmont, 2019

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Figure 10-5: Awonsu Drill Collar Location Plan

Note: Figure prepared by Newmont, 2019

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Figure 10-6: Amoma Drill Collar Location Plan

Note: Figure prepared by Newmont, 2019.

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10.3.2 RC Drilling
Geological logging of RC drill data included lithology, alteration state, oxidation, and presence of
water. Logging used pre-set codes.
Drill chips were logged at the drill site, and a chip tray record of each 1 m interval retained for
reference.
Geological logs are filed at the exploration offices; digital back-up copies of the geological logs
are kept on the geology computer servers at Ahafo.

10.3.3 Core Drilling

Each hole is assigned a unique hole identifier during the planning stage which is then confirmed
when drilling starts. With the retrieval of core, the hole number and tray number are indicated on
each core tray by the driller along with a “from” and “to” depth annotation. A core block recording
the depth as determined by the driller indicates the end of each drill run, usually 3 m or less.
Placement of core blocks indicating the depth is done after each individual run. Core orientation
mark-up, using Ezy-Mark™, is completed typically at the end of 6 m runs.
A geologist will visit the site on a regular basis throughout its progress.
Core trays are collected from the rig at periodic intervals and brought back to the core shed at the
Exploration offices where the core is checked, oriented, logged, photographed and sampled.
Core is laid out on benches, and whole core is digitally photographed, one box at a time. Core
photographs are uploaded to a computer and filed under folders that are named by tray after the
hole name, number, and depths.
Core is transferred to a logging table, where sample intervals and an orientation line for sampling,
are marked.
Geotechnical logging is performed for some drill holes where core recovery and rock quality
designation (RQD) is recorded. Geotechnical logging is not consistently undertaken at Subika.
At selected intervals, an external consultant may complete additional geotechnical logging,
including:
 Drill run data: rock type, run depth, core recovery;
 Rock mass data: RQD; International Society for Rock Mechanics and Rock
Engineering (ISRM) weathering index; ISRM strength index; number of natural
fractures in the logging interval; joint condition rating;
 Discontinuity data: depth; structure type; angle with respect to core axis (α);
circumferential angle from reference line (β, for oriented core); planarity (shape)
roughness; infilling type and thickness; number of fractures (if measurement
represents more than one discontinuity).
Geological logging on whole core comprises recording of lithological code, alteration type and
intensity, sulfide content, and oxidation type. Newmont maintains a reference core library of all

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lithology types encountered in drilling. A library of major rock types and type and intensity of
alteration are available for checking to resolve any logging discrepancies that may arise.
Significant contacts, fractures, veins, and faults are logged with oriented measurements.
Immediately after logging, geological data are validated by posting the information on cross
sections; interpretations are completed with adjacent holes for geology and alteration. If any data
discrepancies with adjacent holes are noted, the geologist checks both the current and older core
holes to establish a resolution.
Holes are digitally logged using tablet computers and Newmont digital logging formats (Visual
Logger). Data are then electronically transferred to the Oracle™ master database (Newmont’s
Global Exploration Database or GED), using an acQuire™ software interface. The digital logging
system contains an internal validation routine that checks basic logging data such as lithology
codes, and “from–to” intervals.
Intervals that are to be sampled are marked by geologists on 0.5–1.2 m core intervals, respecting
geological and alteration boundaries.
Digital back-up copies of the geological logs are archived. All hardcopy logs that were used prior
to the inception of the Newmont proprietary Visual Logger system are archived in files and labeled.

10.4 Recovery
Recovery was not usually recorded for the aircore drill programs but is typically very high.
Except for the first few meters of individual RC holes, where recovery is typically in the 20–40%
range, recovery is generally about 95–98%.
Core recovery is normally 100% except for very rare times when drilling encounters fault and
graphitic shear zones. The mineralized zone, which is silicified and brecciated, is a solid rock and
recovery is almost always 100% in mineralization.

10.5 Collar Surveys

Aircore drill hole collars were located by the survey department and verified by geology personnel.
Collars of drill holes completed prior to 2005 were picked up by surveyors, using optical
instruments. Collars of drill holes completed after that date are picked up by Newmont surveyors,
using digital GPS equipment and the mine’s grid coordinate system which is based on Ghana
National Grid. Data are electronically sent to the database manager and stored in the GED.

10.6 Downhole Surveys

Aircore drill holes were not down-hole surveyed.
Beginning in 2005, RC-holes and the RC portion of pre-collar holes for core drilling were initially
surveyed for azimuth and inclination at 10 m depth. Below 10 m, surveys were typically taken at
30 m intervals. Bottom-of-hole surveys were taken for inclination only. The survey readings are

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read by the logging geologist, and recorded in a spreadsheet. The downhole survey instrument
used was a Wellbore Navigation Inc “WelnavTM” downhole survey camera.
Prior to 2005 downhole surveys were performed with a variety of instruments. Early core drill
holes were surveyed using multi-shot Sperry-SunTM instruments. Later drilling used single-shot
instruments. All surveys were performed by the drilling company, then checked and approved by
geological staff.
Later, core holes at Ahafo South were surveyed at 10–12 m depth, followed by surveys on 30 m
intervals. All surveys, including a bottom-of-hole survey, are done for azimuth and inclination.
Bottom-of-hole surveys are taken at 6 m above actual bottom-of-hole depth to protect the survey
instruments.
Survey instrumentation includes Welnav™ cameras and Reflex™ downhole survey instruments.
In 2011, a survey platform was fabricated with aluminum and accurately surveyed for dip and
azimuth and was used to calibrate the Reflex™ EZ-Shot™ instrument.
From 2014 onward, holes were surveyed to 6 m intervals using Reflex Multishot™ instruments.
Approximately 5% of holes from this period have also been cross-checked using various
gyroscopic cameras. All surveys, including a bottom-of-hole survey, were done for azimuth and
inclination. All surveys were checked and approved by geological staff to ensure that drill holes
do not deviate from design.
Reflecting changes in technology over time, all survey data prior to 2013 were compiled into an
Excel™ spreadsheet, and then transferred to the database manager for input into the master
database. Since 2013, all downhole data were digitally validated in the field, then transferred
directly to the GED for further validation with Reflex’s SProcess™ validation process. The raw
digital data files are also archived.
In April 2015, an issue was found with the results of downhole surveys completed by one of the
drill contractors. This triggered a review of all holes drilled and surveyed from 2012–2015 for all
Newmont’s Ghanaian projects. Data were corrected as required.
Magnetic declinations are adjusted for drift. The declination factor is subtracted from the magnetic
reading provided by the drilling services contractor.

10.7 Geotechnical and Hydrological Drilling

A summary of drill holes logged for geotechnical and hydrological purposes is provided in
Table 10-9. During 2010, 349 m were completed in surface geotechnical holes, and 2,247 m of
underground geology drilling was logged for geotechnical parameters with an additional 1,619 m
of hydrological drilling completed in 2012 to provide a sort of early-warning system for tracking
declining water levels in groundwater in relation to Subika groundwater dewatering. In 2016, 400
m of hydrological drilling was completed at Apensu, with three holes equipped with piezometers
as part of a baseline ground water data collection for the proposed underground project.

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Table 10-9: Geotechnical and Hydrological Drilling

Meters
No. of
Drilled Years Drilled
Holes
(m)
Amoma 30 3,547 2008–2012
Apensu 58 8,076 1998–2016
Awonsu 51 4,252 1998–2010
Rank (Ntotroso) 1 640 2005
Rompad 2 51 2009
Subika 79 9,010 2000–2014
Subika underground 180 91,553 2012–2018
Apensu Deeps 305 157,987 2017–2018
Total 707 275,520

A number of hydrological wells and piezometers are installed, and consist of:
 Apensu: 26 wells/piezometers for 4,340 m;
 Subika: 24 wells/piezometers for 4,241 m;
 Awonsu: 25 wells/piezometers for 3,377 m;
 Amoma: 18 wells/piezometers for 2,141 m;
 Subika underground: 9 wells/piezometers for 2,466 m.

10.8 Metallurgical Drilling

Metallurgical testwork has used core drill data, completed as indicated in the deposit areas.
Metallurgical drilling was typically not planned as a separate drill program; rather intervals from
exploration and infill drilling campaigns were selected to provide the appropriate characterization
of all forms of material that would be processed. Table 10-10 summarized the metallurgical drilling
by deposit. Meters reported in the table are the meters sampled for metallurgical testwork
purposes, and not the total meters drilled in the drill holes.

10.9 Grade Control

Newmont Ahafo currently employs 10 Drilltech D45 blast hole rigs, which drill 9.5 m vertical blast
holes (i.e. 8 m bench plus 1.5 m sub-drill) for grade control sampling in fresh rock. The sub-drill
is not sampled for grade control purposes.

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Table 10-10: Metallurgical Drilling

Drill
Deposit Meters
Holes
Apensu 139 3,560.8
Subika 176 4,655.6
Awonsu 107 1,541.4
Amoma 38 567.5
Total 460 10,325.3

Blasthole spacing is at approximately 4 m x 4.5 m spacing in both ore and waste zones.
Blastholes are sampled by cutting a trench across the thickest portion of the cuttings pile and
collecting the sample from the trench. An allowance is made for sub drill by brushing off
approximately 10 cm thick material from the top of the pile, but samples may still contain some
sub drill material.
Blasthole sampling zones are determined by creating an envelope around the ore zones, taking
into consideration the resource and ore control models and this includes at least three likely waste
samples (approximately 12 m) away from the anticipated ore to better define the ore boundaries.
Sampling zones are then demarcated on the ground for sampling to proceed.
Approximately 7 kg of sample is taken from one side of the trenched walls through the blast hole
cuttings. If a duplicate sample is required from the blasthole, it is taken from the opposite wall of
the trench.

10.10 Sample Length/True Thickness

Drill holes are oriented with an inclination ranging from -55 to -70º from horizontal to accommodate
the steeply-dipping nature (typically -55 to -75º) of the Ahafo South deposits, resulting in an
intersection generally representing 75–85% of true width. Drilling is orientated generally
perpendicular (310–330º) to the strike of the orebody (040–050º). Local variation may be present
to accommodate infrastructure constraints.

10.11 Summary of Drill Intercepts

Table 10-11 provides examples of drill intercepts in the various deposit areas. These examples
include drill holes with low-grade intercepts, with high-grade intercepts and with higher-grade
intercepts within lower-grade widths. Figure 7-3, Figure 7-5, Figure 7-6, and Figure 7-7 provide
examples of drill sections in the various deposits showing relationship of drill information to
interpreted geology.

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10.12 QP Comments on “Item 10: Drilling”

In the opinion of the QP, the quantity and quality of the logging, geotechnical, collar and down-
hole survey data collected in the exploration and infill drill programs are sufficient to support
Mineral Resource and Mineral Reserve estimation, and mine planning, as follows:
 Core logging meets industry standards for exploration on gold deposits;
 Core logging performed prior to Newmont acquiring 100% Project ownership met
industry standards at the time of logging;
 Newmont’s collar surveys were performed using industry-standard instrumentation.
Collar surveys for legacy drill holes were performed using methods that were
industry-standard for the time;
 Down-hole surveys performed were performed using industry-standard
instrumentation at the time of the survey;
 Drilling practices, logging, collar surveys and down-hole surveys were periodically
reviewed by Newmont and independent auditors (refer to Section 12);
 Recovery data from core drill programs are acceptable;
 The drilling pattern provides adequate sampling of the gold mineralization for the
purpose of estimating Mineral Resources and Mineral Reserves;
 Drilling is normally perpendicular to the strike of the mineralization. Depending on
the dip of the drill hole, and the dip of the mineralization, drill intercept widths are
typically greater than true widths;
 Drill orientations are generally appropriate for the mineralization style, and were
drilled at orientations that are optimal for the orientation of mineralization for the bulk
of the deposit areas. Drill orientations are shown in the example cross-sections
included in Section 7, and can be seen to appropriately test the mineralization;
 Drill hole intercepts included in Table 10-11 demonstrate that sampling is
representative of the gold grades in the deposit area, reflecting areas of higher and
lower grades;
 No factors were identified with the data collection from the drill programs that could
significantly affect Mineral Resource or Mineral Reserve estimation.

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Table 10-11: Example Drill Intercept Table

Drilled
Total Hole Depth Depth Gold
Drill Hole Easting Northing Elevation Azimuth Dip Intercept
Deposit Depth From To Grade
ID (X) (Y) (Z) (º) (º) Thickness
(m) (m) (m) (g/t Au)
(m)
APSDD460 123424.71 259010.73 1201.69 304.2 -54.8 501 469.2 479.3 10.1 4.76
APSDD315 123354.54 259387.417 1201.625 308.8 -49 282.5 275 277 2 0.66
APD163 124018.08 260032.14 1173.81 306.1 -50.2 411.2 370.5 400.4 29.9 3.27
Apensu
APD169 123993.64 259987.5 1178.41 305.4 -51.7 432.4 387.2 414.3 27.1 3.92
APD254 124213.62 260259.09 1235.43 305.02 -84.52 704 577.7 598.8 21.1 2.2
APD234 124422.32 260512.47 1216.12 302.38 -68.17 524.5 450.7 507.3 56.6 7.2
SUC-00952 124414.1 257699.14 857.53 323.9 -28.3 593.5 490.4 530.9 40.5 5.29
SUC-00967 123926.43 258217.03 836.13 111.99 -38 418.6 315.7 365.4 49.7 6.68
SUC-00966 123926.42 258217.14 836.13 112.6 -40.4 438.8 338.1 373.4 35.3 7.18
Subika SKD275W4 123774.4 257155.71 1196.23 303.89 -60.26 765.6 646.4 652.4 6 1.95
SKD278 123128.94 256845.415 1198.895 310.036 -72.88 539.5 490.5 491.9 1.4 15.2
SKD167 123914.59 257947.5 1151.44 305 -58 150 49.5 69.6 20.1 1.2
SKP070 124211.79 257336 1206.17 305 -61 1273.4 1096 1122 26 3.13
AMDD034 130335.98 267715.165 1196.412 325 -48 111 14.4 93.1 78.7 0.94
AMDD063 130077.25 267343.997 1203.539 325 -46 137 97.7 108 10.3 5.93
Amoma AMDD066 130040.22 267353.08 1203.528 325 -54 116 50 104.5 54.5 1.83
AMDD094 129856.85 267222.786 1212.557 325 -59 150 97.5 134 36.5 2.34
AMDD024 130508.07 267992.425 1203.953 325 -57 87 79.5 117 37.5 1.49

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11.0 SAMPLE PREPARATION, ANALYSES, AND SECURITY

11.1 Introduction
For the duration of the Project, Newmont and Normandy staff were involved with, and responsible
for, the following:
 Sample collection;
 Core splitting;
 Delivery of samples to the analytical laboratory;
 Sample storage;
 Sample security.
During the period 1989 to 2003, Newmont and Normandy staff were involved with, or responsible
for:
 Sample preparation of BLEG samples;
 Sample preparation of soil samples (Newmont continues to prepare exploration-
stage soil samples from the Project at an internal facility);
 Sample preparation of pit, trench, RC, and core samples.
During the period 1989 to 2003, Normandy staff were involved with, or responsible for:
 Specific gravity determinations;
 Sample preparation.
All analytical procedures that support Mineral Resource and Mineral Reserve estimation,
including sample preparation and analysis, were performed by independent analytical
laboratories without company involvement from 2005 to the present.

11.2 Sampling Methods

11.2.1 Geochemical Sampling

BLEG samples were collected from suitable drainages, as 2–5 kg samples, and placed in pre-
numbered calico bags. The sample location was recorded, typically on aerial photographs.
Soil samples are collected from 15 to 20 cm depths in the soil profile using a spade.
Approximately 2 kg of sample is placed in a pre-numbered calico bag. The sample location is
recorded by GPS. A logging sheet is completed to record details of anthropogenic contamination,
soil color, texture, grain size, slope degree and direction, landscape position and regolith
environment.

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Rock chip samples were typically collected as 2–5 kg of grab samples from surface outcrops.
Sample locations were recorded, together with a geological description.

11.2.2 Trench and Pit Sampling

Trench and pit samples are normally collected from the side or bottom of the trench on about 2 m
spacings, or as designated by the supervising geologist. Samples ranged from 2–5 kg, and each
sample position was recorded with a geological description.

11.2.3 Aircore Sampling

Aircore drill samples are typically taken on 2 m intervals down hole.

11.2.4 RC Sampling
RC samples are generally taken on 1 m intervals down hole. Drill cyclones are cleaned with
compressed air as required during rod changes.
Samples are split using a Gilson™ riffle splitter, with quarter samples collected in pre-numbered
RC sample bags. Two sample tags are used to identify the sample, one inside the bag, and the
second on the outside. Sample numbers are predetermined by the on-site laboratory and are 16-
characters long. Sample numbers are cross-checked on a sampling sheet by the geologist. The
remaining 75% of the sample is retained at the drill site and used to infill drill sumps. The quarter
samples are composited from the 1 m intervals to 2 m, and the combined samples further split at
the onsite mine laboratory to 6–8 kg of material.

11.2.5 Core Sampling

Core is cut along marked orientation lines, using a diamond saw. At all deposits the core generally
is broken in sticks >0.25 m in length. There is no friable material or significant fines residue in the
core trays. The potential for loss of gold from joints and fractures during drilling and cutting of the
core is considered negligible. No sludge samples or samples of fines from the core saw sump or
core boxes are collected.
The core sampling procedure includes:
 Sampling positions for the un-oxidized core are marked along projected orientation
lines;
 Determination of the sample intervals considers lithological and alteration
boundaries;
 Sample numbers, from and to depths, and core recovery are recorded on a standard
sample sheet;
 Start and end of each sample is marked;

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 Core is cut in half for sampling (along the projected orientation lines) using a
standard diamond saw;
 Half of the core is sent to the laboratory to be prepared for assay and the other half
is retained for geological logging and record purposes. In order to ensure uniformity
of the sampling method, half core along the right-hand side of the projected
orientation lines is sampled and sent to the laboratory;
 Oxide samples are split with the use of a kitchen knife and the same sample protocol
as for the un-oxidized core was applied;
 In core holes, sample widths vary from 0.2–1.5 m, with sample intervals chosen
based on the geologic features of the rock including alteration;
 In the very rare cases where core is broken and cannot be cut, samplers use
judgment and experience to collect half of the core from the tray. Core samplers are
trained by geologists;
 One-half core samples are placed in plastic or metal trays and stored at either the
Rank or the Camp B core shed (official core storage facility).

11.3 Metallurgical Sampling

Metallurgical samples are collected systematically through new resource zones to ensure that
there are no changes in the mineralization or host rock characteristics, and that gold recoveries
have not changed. For these samples the remaining half-core sample is cut into halves (quarter
of the original core); and a quarter-core sample is sent for metallurgical testing and a quarter-core
left in the box at site. Various lithogeochemical and trace element and total rock analysis may be
performed on sample pulps returned from the assay laboratories. Remaining half-core is retained
on site in either the Rank or the Camp B core yard for reference purposes.

11.4 Density (Specific Gravity) Determinations

Newmont’s protocols for specific gravity (SG) determination require that a minimum of 30 SG
samples per material type (domain) are collected at the initiation stage and identification stage of
the project. For more advanced projects, SG samples are typically collected at approximately
10–20 m intervals. The sample length is between 20–25 cm and is sun dried prior to
measurement. Oxidized/friable samples are wrapped in cling film prior to measurement.
SG determinations were completed by the Normandy-operated Ahafo Mobile Sample Preparation
Unit (MSPU) and the SGS laboratory in Tarkwa. Typically, solid rock SGs were completed by
MSPU, whereas SGS determined SG measurements for saprolite and soil samples. These
values were measured by water displacement methods at both laboratories, and the SG
calculated by:
 SG = weight in air ÷ (weight in air - weight in water)

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There was, however, a period during 2004 where the SG was measured directly from the core.
Using the caliper and scale method, the core was carefully cut into a cylinder with the ends cut
as close to perpendicular to the core axis as possible. The core was weighed after drying as SG
should not include moisture. The following formula was used to calculate volume (V):
 V = Π (1/2 D)2 L
Where: V = Volume
Π = pi
D = Diameter of core, taken using calipers
L = Length of the core

SG was then calculated using the formula:

 SG = dry mass ÷ volume
This method has since been replaced (2005 to date) by the water displacement method previously
mentioned above. Measurements are performed by Newmont personnel.
Data were initially compiled in comma-delimited value (CSV) format, and then uploaded to the
master database. From 2014 onward, SG data were captured using the Visual Logger template
and uploaded to the GED.
Currently, the Ahafo South database holds about 5,455 determinations (Table 11-1). SG values
used to support the Mineral Resource and Mineral Reserve estimates are summarized in
Table 11-2.
QC measurements are performed on a minimum of 5% of samples by an independent external
laboratory; currently either SGS Ahafo or ALS Kumasi. QA/QC measurements are validated by
Newmont senior geological staff and loaded in to the GED.

11.5 Analytical and Test Laboratories

A number of independent laboratories have been used since 1993.
During the Normandy operating period, the primary laboratories were Transworld Laboratories,
Tarkwa, Ghana, and SGS Laboratories, Kumasi/Tarkwa, Ghana (SGS).
Newmont used UltraTrace Laboratory Pty Ltd (UltraTrace) for BLEG geochemical sampling.
Umpire laboratories used include ALS Vancouver, Canada, Gencor Laboratories, Johannesburg,
South Africa (Gencor); Inchcape Laboratory, Obuasi, Ghana (Inchcape); Genalysis Laboratories,
Perth, Australia (Genalysis); Anglo-American Research Laboratories, Johannesburg (AARL);
Omac Laboratories, Ireland (Omac); and Performance Laboratories, Johannesburg
(Performance).

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Table 11-1: Specific Gravity Determinations

Deposit Number of Samples

Amoma 349
Apensu 880
Apensu South 623
Awonsu 499
Subika 122
Subika UG 2,819
Subika UG grade control 163
Totals 5,455

Table 11-2: Specific Gravity Values Used in Estimation

Number of Specific
Deposit Rock Type/Lithology
Samples Gravity
DUR/SAP 24 1.77
Apensu Open Pit
Fresh Rock 418 2.75
DUR/SAP 30 1.85
Silica-Albite alteration
466 2.76
intensities 2 and 3
Cataclasite 44 2.74
Foot wall Grade
Apensu Underground 353 2.73
Shell(+0.2g/t)
Hanging wall Grade
8 2.74
Shell(+0.2g/t)
Intrusive 194 2.75
Meta-Sediment 67 2.78
DUR/SAP 6 1.81
Subika
Fresh Rock 2,574 2.79
SAP 18 1.86
Awonsu
Fresh Rock 337 2.75
SAP/DUR 9 1.76
Amoma
Fresh Rock 47 2.73

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SGS was the primary laboratory for all drill programs for the period June 2003 to 2010. In addition
to SGS, ALS Chemex (ALS) has provided laboratory services to Newmont Ghana from 2010 to
date, and has used branch laboratories in various locations, including ALS Kumasi, ALS
Vancouver and ALS Johannesburg.
Both SGS and ALS are independent laboratory groups that operate globally, and the SGS/ALS
laboratories used for the Project are accredited to ISO/IEC17025. Currently SGS Ahafo is the
primary laboratory used for the Ahafo South deposits.
The on-site mine laboratory, SGS Ahafo, is managed by SGS and is used to prepare and analyze
grade control, and metallurgical samples. It can also be used as the sample preparation facility
for exploration/development drill holes; there is a separate sample preparation site that has
dedicated equipment and is only used to process exploration samples. The on-site mine
laboratory holds ISO/IEC17025 accreditation.

11.6 Sample Preparation and Analysis

Prior to June 2003, most drill samples were prepared at the Ahafo MSPU. Contrary to the name,
the sample preparation facility at Ahafo was a permanent facility with fixed equipment and work
areas. Normandy operated two MSPUs, one at Kenyasi and one at Yamfo, in support of its
exploration drilling activities. The Yamfo facility was moved offsite and the Kenyasi facility was
placed on care and maintenance in 2000.
Newmont started an intensive drilling program in October 2002 and recommissioned the Kenyasi
facility, which was used until 2006. During the intensive drilling campaign conducted by Newmont
in 2003, sample volumes periodically exceeded the MSPU’s capacity. Under these
circumstances, samples were partially prepared by MSPU, and then forwarded to SGS for final
preparation. The MSPU facility was supervised by SGS but staffed by Newmont.
From 2005 onward, samples were prepared either by SGS or ALS without Newmont staff
involvement.
Sample preparation and analytical methods for the various major sampling types is summarized
in Table 11-3.
Various lithogeochemical, trace element and total rock analyses were performed on selected
sample pulps returned from the assay laboratories. These were typically analyzed at UltraTrace.

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Table 11-3: Sample Preparation and Analysis

Sample Analysis
Preparation
Type
Normally sent to Newmont’s
dedicated BLEG laboratory in Perth,
Western Australia for analysis where
the samples are leached in a weak
cyanide (NaCN) solution. The
leachate is analyzed for Au, Ag and
Cu by UltraTrace (Ultra Trace is now
part of the Bureau Veritas Group
Stream
and is accredited to ISO/IEC 17025)
sediment Not required
in Perth using ICP-MS. The nominal
(BLEG)
detection limit for Au is 0.02 ppb. A
small sample of the clay-silt fraction
is digested at UltraTrace using aqua
regia, then and analyzed for a suite
of trace elements (Ag, As, Bi, Ca,
Cd, Cu, Fe, Hg, In, Mn, Mo, Ni, Pb,
Sb, Te, Tl, U, W, Y, and Zn) using
ICP-MS.
Analysis of soil samples is usually
Usually prepared at Newmont’s sample preparation
conducted at the SGS laboratory by
facility at Akyem. Samples are dried and passed
lead collection fire assay. After
through a jaw crusher to produce a nominal 90%
fusion of a 50 g charge, the prill is
passing -2 mm size fraction. The jaw crush product
digested in aqua regia and a di-
is split in a rotary divider to produce a sample of
Soil isobutyl ketone (DIBK) extraction is
between 800 g and 1 kg which is then pulverized to
applied to pre-concentrate the gold.
90% passing -75 µm in a Labtechnics LM 2™
Analysis is by flameless atomic
pulverizer. The resulting pulp is roll-mixed and
absorption spectrometry (AAS),
scooped to provide an assay sample of about 250
achieving a detection limit of 1 ppb
g.
Au.
Rock Same methodology as used for RC
Same methodology as used for RC samples
chip samples
Trench and pit samples are submitted to either SGS Analysis is by lead collection fire
or ALS. Samples are dried, jaw crushed to a assay on a nominal 50 g sample
nominal 90% passing 3 mm, then riffle split to charge. The prill is digested in aqua
Trench
800–1,000 g before the split is pulverized to a regia and the concentration
and pit
nominal 90% passing -75 µm. The sample is roll- determined by AAS, to a detection
mixed and scoop sampled to create an assay limit of 0.01 ppm Au.
sample of approximately 250 g.

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Sample Analysis
Preparation
Type
Aircore drill samples are submitted to SGS. Analysis is by lead collection fire
Samples are dried, jaw crushed to a nominal 90% assay on a nominal 50 g sample
passing -3 mm, then riffle split to 800–1,000 g charge. The prill is digested in aqua
Aircore before the split is pulverized to a nominal 90% regia and the concentration
passing 75 µm in a Labtechnics LM 2™ pulverizer. determined by AAS, to a detection
The sample is roll-mixed and scoop sampled to limit of 0.01 ppm Au.
create an assay sample of approximately 250 g.
RC drill samples are submitted to SGS. The Analysis is by lead collection fire
samples are dried, jaw crushed to a nominal 90% assay on a nominal 50 g sample
passing -3 mm, then riffle split to 800–1,000 g charge. The prill is digested in aqua
RC before the split is pulverized to a nominal 90% regia and the concentration
passing -75 µm in a Labtechnics LM 2™ pulverizer. determined by AAS, to a detection
The sample is roll-mixed and scoop-sampled to limit of 0.01 ppm Au.
create an assay sample of approximately 250 g.
Core samples are delivered either ALS or SGS. For At both laboratories, a 50 g sample is
SGS, samples are hand-carried as the preparation selected from the 200 g and assayed
facilities are adjacent to the core shack, whereas an by fire assay with an AAS finish. The
ALS vehicle collects the samples from the core yard detection limit is 0.01 ppm Au.
as required. A comma-delimited value (csv) file of all Assay data are sent electronically to
core sample numbers is provided to the relevant the database manager, and
laboratory. incorporated, following checks, into
On receipt, samples are weighed, dried, and the master database.
crushed. At SGS and ALS, samples are crushed
using a jaw crusher (Terminator™ or Boyd™) to a
Core nominal 90% passing 2.0 mm (10 mesh). The
crushed sample is in turn rotary split, where 1 kg is
taken for further pulverizing and remaining stored as
a coarse reject.
At SGS and ALS, the crushed sample is pulverized
in an LM2 pulverizer to a nominal 95% passing 75
µm. A 200 g scoop split is retained in a labeled
sample envelope and sent to the assay room for
analysis. The balance is retained for assay check
purposes.

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Analyses completed include:

 Determination of the following elements using a 4 g aqua regia digestion followed by
inductively-coupled plasma (ICP) optical emission spectrometry (OES) or ICP mass
spectrometry (MS) techniques. Detection limits are shown in brackets: Au (1 ppb),
Ag (0.05 ppm), As(0.2 ppm), Sb (0.1 ppm), Bi (0.02 ppm), Mo (0.1 ppm), Cu (0.5
ppm), Pb (1 ppm), Hg (0.01 ppm), In (5 ppb), Te (0.1 ppm), Zn (1 ppm), Ni (1 ppm),
Fe (10 ppm), Mn (1 ppm) Ca (10 ppm) and Mg (100 ppm);
 Determination of the following elements by XRF fusion techniques: SiO 2 (0.01%),
Al2O3 (0.01%), CaO (0.01%), Na2O (0.01%), K2O (0.01%), MgO(0.01%),
P2O5 (0.001%), SO3 (0.001%), TiO2 (0.001%), Fe2O3 (0.01%), ZrO2 (5 ppm),
BaO (10 ppm), Cr2O3 (5 ppm), Ni (5 ppm) and V2O5 (10 ppm); F (100 ppm – beads
re-run 5 min XRF counting time);
 Determination of loss-on-ignition (LOI) at 1,000ºC;
 CO2 calculated from the total carbon result – total combustion analysis;
 Determination of the following elements by ICP techniques following a sodium
peroxide fusion: B (20 ppm), Sc (10 ppm), Ce (0.5 ppm), Nd (0.5 ppm), Sm
(0.5 ppm), Eu (0.2 ppm), Gd (2 ppm), Dy (0.5 ppm), La (0.5 ppm), Th (0.5 ppm),
U (0.5 ppm), Y (1 ppm), Yb (0.5 ppm), Nb (5 ppm), Rb (0.5 ppm), Sr (1 ppm) and
Cs (0.5 ppm).

11.7 Quality Assurance and Quality Control

11.7.1 1993–2001
Until the end of 2001 analytical standards (standards) and blanks were inserted at every 10th
sample. Check samples were selected at end of each sample program and submitted for analysis
at Omac.

11.7.2 2002
During 2002, the sampling protocols were changed such that:
 Samples with sample numbers ending with 05 and 105 were blanks;
 Samples with sample numbers ending with 21, 41, 61, 81, 101 were standards; later
this numbering reverted to sample numbers ending with 20, 40, 60, 80, 100;
 Samples ending with 25 and 75 were Type 1 duplicate samples;
 Samples ending with 45 and 95 were Type 2 duplicate samples;
 Samples ending with 15 and 65 were Type 3 duplicate samples.
Duplicate samples were taken at three different places along the sample preparation scheme:

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 Type 1 duplicates were taken for RC and core samples. They consisted of alternate
cups from the (large) rotary splitter that was used to reduce bulk RC samples down
to a 5 kg split for further processing;
 Type 2 duplicates consisted of alternate cups from the small rotary splitter, where
the minus 2 mm material (core or RC) was reduced to 1.2 kg for final pulverizing;
 Type 3 duplicates consisted of second (manual) splits from a prepared pulp, that is,
a second sample taken after pulverization and blending.

11.7.3 2003
During 2003, the sampling protocols were changed again such that:
 Samples ending with 50, 100, 150 were standards;
 Blanks and duplicates were submitted in the same manner as in 2002.
Check samples were taken every 10th drill hole. A selected mineralized intercept was taken, and
another two intervals, 20 m above and below the interval, submitted for assay at SGS. During
2003, SGS Tarkwa was the primary assay laboratory.

11.7.4 2004 to Date

Newmont has considerably modified the QA/QC program at Ahafo from that used prior to 2004.
The current program comprises:
 Blanks are inserted “blindly” at the rate of one in 100. Results are analyzed to
identify contamination;
 Standards are inserted “blindly” at the rate of one in 50. Results are analyzed to
verify accuracy in conjunction with check assay program;
 Three duplicates are taken “blindly” in every 100 samples. Duplicate samples
consist of:
 Field duplicates; defined as the same sample collected twice from the same drill
intersection. For core drilling, field duplicate is the second half of the core or the
closest to a field duplicate for core drilling is a second split off the coarse reject.
Second half-core duplicate procedures in Ghana were implemented at the end
of 2013. Field duplicates have always been collected for RC samples;
 Preparation duplicates; consist of duplicates collected after crushing. Laboratory
personnel create a duplicate by splitting the sample after crushing and placing
one split into the bag allocated for duplicates;
 Pulp duplicates are samples collected twice from the pulp envelope and usually
selected by laboratories internal QA/QC system.

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 So:
 5% of the samples submitted are quality control materials;
 1% of sample pulps, representing metal grades across the range typical for the
deposit being evaluated, are sent to the umpire laboratory.
Certified reference materials (CRMs) are purchased from Geostats Pty Ltd in Australia, and
African Mineral Standards (AMIS) in South Africa, representing composite oxide mineralization,
low-grade sulfide mineralization, unoxidized basic rock-hosted mineralization, and copper–gold
mineralization.
Blanks were created from previously-analyzed non-mineralized quarry material.
Sieve tests are performed by the laboratory at the rate of one sample in every 20. Tests are
performed at the crushing and pulverizing stages of sample preparation. Screen test results are
recorded, and corrective action taken on samples failing percentage-passing benchmarks.
A monthly report on the QA/QC, CRM, and blank sampling is completed by the project geologist
or the database manager. In addition, the laboratory provides a monthly performance report.
These reports are forwarded to the Consulting Geochemist, Newmont Exploration, for comment.

11.7.5 Results
Blank results indicate that contamination is not a significant concern at Ahafo South. About 2%
of the blank samples failed which is within, but on the high side of the expected range. However,
a significant number of those failures were obviously due to mislabeled or swapped samples. The
sample labeling and handling procedures were improved from 2012.
CRM results indicate that assays from each of the three laboratories are sufficiently accurate to
support Mineral Resource and Mineral Reserve estimation and mine planning. In early programs,
the number of outliers is on the high side; however, after investigation, the majority of the issues
found to be caused by mislabeling and sample swapping. Sample labelling and handling
procedures were improved during 2012, reducing the number of failed CRMs in later campaigns.
Data for all three duplicate types indicates that the data are acceptably precise at both primary
laboratories. The number of failures due to mixed and mislabeled samples was a concern in early
programs; however, procedures for inserting and tracking duplicate samples were significantly
upgraded.
Approximately 5% of pulp samples analyzed at the primary laboratory were routinely submitted
to an umpire laboratory. Umpire laboratory results typically compare well with the original assay
results, with the precision and bias within acceptable quality ranges. In the period January 2014-
February 2015, Newmont noted a bias with assay data being reported by the SGS Ahafo
laboratory. Issues identified by Newmont were addressed, and sample submission to SGS Ahafo
recommenced in March 2015.

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11.8 Databases
All drilling-related data are stored on a Microsoft SQL™ server engine which supports multi-user
access. The database is administered by a dedicated database manager. Security and access
to the database is achieved through Microsoft Windows™ server technology authentication and
file permissions. These are administered by the onsite Information Technology department.
Data were migrated from the historical Access™ databases in 2004. As part of the migration,
data were verified prior to inclusion in the master database using the acQuire™ software interface.
These verification checks were built into the acQuire™ platform, and are still part of the current
procedures (refer to discussion in Section 12).
All collected raw data files or data arriving in electronic format are stored under defined project
archive directories on the GED server. All historic paper records are filed in a manner that allows
for quick location and retrieval of any information desired. Assays, downhole surveys, and collar
surveys are stored in the same file as the geologic logging information. In addition, sample
preparation and laboratory assay protocols from the laboratories are kept on file.
Digital data are regularly backed up. Copies of the digital database are securely stored offsite.

11.9 Sample Security

Sample collection, preparation, and transportation have always been performed by Newmont
personnel using Newmont vehicles, or by the relevant commercial laboratory vehicle. Chain-of-
custody procedures consist of sample submittal forms sent to the laboratory with sample
shipments to make certain that all samples are received by the laboratory.
The drill core retrieved by the drillers is collected and handled at the drill site by Newmont
personnel. The samples are transported to the core shed area in the camp, and then split and
sampled.
Core, RC chips, and pulps are stored in fenced-off areas and only authorized persons are allowed
access. The core shed storage areas are fenced, and security is provided permanently by the
company. The samples are continually under the direct control of Newmont personnel, who
monitor the shipment of the samples. This ensures reasonable chain of custody and security by
Newmont from the drill sites to the analytical laboratory.
As much as practicable, core is stored by deposit and maintained in numerical order by hole
number. Pulps are stored according to the batch numbers received from the laboratory and kept
in a dry area on clearly numbered shelves. The locations of the pulps on the numbered shelves
are documented and hard and soft copies of these records are retained. Storage includes:
 RC chip trays are stored in the exploration core yard. Half and quarter core
reference samples are stored in metal or plastic trays at either the Rank or the Camp
B core yard;
 Drill core generated during the late 1990s was initially stored in wooden trays.
Following the deterioration of the wooden core boxes, all core was transferred to
aluminum trays;

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 Sample rejects and pulps for both core and RC samples are cataloged and stored
at site in a dry location. The storage protocol is:
 5 kg crushed residue for RC and core samples;
 Assay pulps are returned from commercial laboratory and stored.
No sample is discarded until all assays are reported and the QA/QC data are checked and found
to be acceptable. The 5 kg crushed residues are stored by drill hole number, whereas pulps are
stored on assay report number basis.
After 12 months, the receipt of QA/QC standard and duplicate assay results, and the adoption of
an updated resource model, the crushed residues are discarded. Pulps from the laboratory are
stored until mining of a particular pit has been completed. If additional storage space is required
these pulps are prioritized for disposal.

11.10 QP Comments on “Item 11: Sample Preparation, Analysis,

and Security”
In the opinion of the QP, the sample preparation, analysis, and security are acceptable, meet
industry-standard practice, and are adequate to support Mineral Resource and Mineral Reserve
estimation and mine planning purposes, based on the following:
 Drill sampling was adequately spaced to first define, then infill, gold anomalies to
produce prospect-scale and deposit-scale drill data;
 Sample preparation for core samples has followed a similar procedure for the
Normandy and Newmont core drill programs. The preparation procedure is in line
with industry-standard methods;
 Analytical methods for core samples used similar procedures for the Normandy and
Newmont core drill programs. The analytical procedure is in line with industry-
standard methods;
 Normandy’s QA/QC program consisted of insertion of CRM and blank samples at a
higher insertion rate than is current Newmont practice. Normandy QA/QC
submission rates are typical for the time of collection, and do not indicate any
problems with the analytical programs, therefore the gold analyses from the core
drilling are suitable for inclusion in Mineral Resource estimation;
 Newmont has used a QA/QC program comprising blank, CRM and duplicate
samples. Newmont’s QA/QC submission rate meets current industry-accepted
standards of insertion rates;
 Data collected prior to the introduction of digital logging have been subject to
validation, using inbuilt program triggers that automatically checked data on upload
to the database;

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 Verification is performed on all digitally-collected data on upload to the main

database, and includes checks on surveys, collar co-ordinates, lithology, and assay
data. The checks are appropriate, and consistent with industry standards;
 Sample security has relied upon the fact that the samples were always attended or
locked in the on-site sample preparation facility. Chain-of-custody procedures
consist of filling out sample submittal forms that are sent to the laboratory with
sample shipments to make certain that all samples are received by the laboratory;
 Current sample storage procedures and storage areas are consistent with industry
standards.

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12.0 DATA VERIFICATION

12.1 Internal Data Verification

12.1.1 Laboratory Visits

Newmont personnel regularly visit the laboratories that process Newmont samples to inspect
sample preparation and analytical procedures. Observations not in conformity with Newmont
procedures are recorded in Project files and communicated to the appropriate laboratory for
corrective action to be taken.

12.1.2 2002–2003
During 2002–2003, Newmont’s Denver Geologic Resource Development Team reviewed existing
geological procedures, resource models and drill plans for Ahafo South. The review extended to
the Ahafo North database, as at the time, the two were not considered separate. Findings and
recommendations included:
 The existing exploration-focused logging and available geological models delivered
detailed structural orientations and rock descriptions, but were not appropriate for
three-dimensional production geological models and required re-evaluation of litho–
structural–alteration types into modeled “production” units that addressed operating,
metallurgy, and engineering issues. A major program was implemented to re-log
the majority of core in all deposits using new logging criteria and to construct
production-oriented, Newmont software-based geological models of all deposits.
This program was completed;
 Development issues identified included open ore zones along strike and at depth,
geotechnical concerns about footwall graphitic shears dipping into the pits,
metallurgical samples not separated by litho-alteration unit, insufficient hydrology
data, and concerns about coarse gold seen in the drill core. A comprehensive infill
and step-out drill plan was developed to address these issues, completed as two
phases. Phase One was designed to extend drilling of the six largest deposits at
100 m x 80 m spacing down dip and along strike, providing assay data for feasibility
update models and additional samples for geotechnical and metallurgical studies.
Phase Two drilling provided a second pass of drilling where necessary.

12.1.3 2004–2005
Sampling protocols, flow sheets and data storage were reviewed in 2004.
During 2005, an analysis of the check assay program, representing 1,750 data points, was
completed. This indicated the assaying programs were in control, and that the SGS laboratory
was returning assay values comparable to umpire laboratories.

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12.1.4 2006–Current
Onsite work is reviewed on an annual basis by Newmont staff. Such reviews include logging
consistency, down hole survey, collar coordinate and assay QA/QC data. In addition to the data
checks, the geology and mineralization interpretation is also reviewed.

12.1.5 Database

12.1.5.1 Drill Collar Data

Drill collar data are checked at the point where the survey department picks up the drill collars at
the end of the drilling program. Surveyed collars are checked against the original planned co-
ordinates. Discrepancies are resolved by the geologists with the surveyors prior to entry into the
database.

12.1.5.2 Downhole Survey Data

Downhole survey data are randomly checked by the geologists. These checks identified the issue
with BLY surveys as noted in Section 10.6, and triggered Newmont’s remedial actions and checks
of all downhole survey data. Current data are considered acceptable for use in estimation.

12.1.5.3 CRM and Blank Data

CRM and blank materials are reviewed on each batch of samples submitted and on a monthly
basis by the database manager, using the following criteria:
 A CRM with a value greater than three standard deviations from the mean is a failure
(accuracy);
 Two adjacent CRMs that are greater than two standard deviations from the mean,
on the same side of the mean, are failures (bias);
 A blank sample that is greater than the warning limit is a failure. The warning limit
is defined as five times the background value.
Samples that fail are typically re-analyzed.
Following commissioning of the Ahafo mine laboratory in 2006, a suite of CRM materials was
submitted to the laboratory. These were the same CRMs as used in exploration, purchased from
Geostats. No outlier determinations were noted from the Ahafo analytical round robin as
compared to original Geostats values.

12.1.5.4 GED Extractions

GED extractions containing approved collar, downhole survey, assay and geology data were
received and validated for consistency prior to resource estimation. Items examined included:

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 Collars significantly above or below topography.

 Assay values repeated downhole;
 Null or zero assay values;
 Azimuth or inclination deviations greater than 5º between adjacent measurements;
 Assays/logged information not extending to total depth;
 No downhole survey data.
The extractions were compared to the previous data sets and any differences in the number of
holes, assays, collar locations and downhole surveys noted. Minor issues were noted for all of
the deposits modelled, which primarily consisted of missing assay data, or assay data, but missing
downhole survey information. Those drill holes with identified issues were further excluded from
use in resource estimation.

12.1.5.5 GED Database Review

In March 2017, Mr. Michael Martos, the Global Database Manager with Newmont, performed a
review of the entire Ghana GED database. The audit consisted of running a series of custom
database queries and reports, looking for inconsistencies across the database tables associated
with drilling data. This included drill hole locations, downhole surveys, analytical data and
geological logging. Workflows associated with loading and checking data in the database were
also audited. Recommendations were made to address minor data inconsistencies noted in the
audit and to check historical data where information was not available (e.g. missing down hole
surveys, declination applied) to see such information gaps could be addressed.

12.1.6 Specific Gravity

During 2003, a review of the SG data collected to October 2003 was performed. A total of 253
samples had SG determined by the site laboratory; 8.6% of these, or 22 samples total, had SGs
re-measured and recalculated by SGS. Comparison of the results indicated no statistical
differences between the site and SGS values. Review of the SG values for lithologies across the
different deposits also indicated no major variations in the specific gravity results.
Current exploration practices require SG testing for every lithological zone encountered in a
drilling program. In addition, approximately 20 samples per operating pit are collected on a
monthly basis for SG testing. No significant variances were observed between SG estimates
from the exploration block models and the monthly samples collected.

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12.1.7 Internal Audits

12.1.7.1 Assay Data

Audits are carried out by Newmont Chief Geochemist on an annual basis, including reviews of
laboratory procedures and coordinating umpire comparisons.

12.1.7.2 Reserve and Resource Review Audits

Newmont conducts internal audits, termed Reserve and Resource Review or 3R audits, of all its
operations. Ahafo South 3R audits were conducted in 2016, and 2018. Earlier audits, known as
Five Star reviews, were undertaken in 2005, 2006, and 2009.
The most recent 3R for the Ahafo South operations was completed in October, 2018. Aspects
examined by the auditors included:
 Geology: ore control (including estimation and polygon delineation, field practices);
data quality and integrity; geological interpretation and modelling; estimation;
geostatistical model risk assessments;
 Metallurgy: sample selection and representation of geometallurgical domains and
grade ranges; metallurgical testing and results, including assessing implications for
plant performance, recovery functions and final product parameters; metallurgical
performance and accounting; mine to mill reconciliation; review of
estimates/assumptions regarding equipment operation/availability, operating costs,
sustaining capital costs; laboratory performance; review of geologic/mine modelling
information with respect to possible future changes in ore feed that might materially
impact on the operation;
 Open pit mining: operating costs; pit designs; reconciliation; waste rock storage
facility (WRSF) plans; TSF capacity and performance; closure and reclamation;
financial plan;
 Underground mining: mine designs and schedules; geotechnical assumptions, cut-
off grades; reconciliation.
The most significant issue noted from the audits was related to geotechnical assumptions for the
underground operations. The impact to stope designs and potential use of backfill is being
examined.

12.1.8 Reconciliation
The QP receives and reviews monthly reconciliation reports from the mine site. These reports
include the industry standard reconciliation factors for tonnage, grade and metal; F1 (reserve
model compared to ore control model), F2 (mine delivered compared to mill received) and F3
(F1 x F2) along with other measures such as compliance of actual production to mine plan and
polygon mining accuracy. The reconciliation factors are recorded monthly and reported in a

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quarterly control document. Through the review of these reconciliation factors the QP is able to
ascertain the quality and accuracy of the data and its suitability for use in the assumptions
underlying the Mineral Resource and Mineral Reserve estimates.

12.2 External Data Verification

12.2.1 2000 – Feasibility Study

SRK Consultants (SRK) audited the feasibility study completed in 2000. Database errors
identified during the audit were rectified.

12.2.2 2003 – Database

The Ahafo sampling methodology was reviewed in 2003 by AMEC Americas Ltd (AMEC). The
review included inspection of QA/QC insertion rates, sample preparation protocols, assay
precision, sample reject storage, and sample numbering (AMEC, 2003).
The review indicated that:
 Newmont Ghana projects used a reasonable sample preparation protocol;
 There is an acceptable number of quality control samples submitted by Newmont,
and a similar acceptable number employed by the laboratories (1 blank, 1 standard
and 2 duplicates in a furnace load of 50 is typical);
 Newmont uses data from control samples to monitor the assaying process, and in
the case of Newmont-inserted standards, there is remedial assaying;
 Samples having grades above about 5 g/t (5 ppm Au) have markedly poorer
precision and run increased risk of being less accurate;
 A discrepancy existed between Transworld and SGS laboratory assay results;
 Coarse sample storage methodologies were poor.
Key recommendations arising from the review included:
 Although samples that have grades above 5 g/t Au are less than 5% of samples,
better protocols should be developed for those samples;
 Obtain a CRM in the range of 5.5 to 9.5 g/t Au, and another CRM in the range of
10.5 to 20 g/t Au;
 Select a highly reputable certified laboratory to resolve the discrepancy between the
Transworld and SGS analytical results;
 Improve and/or resolve sample reject storage conditions; maintain order in sample
reject storage;
 Compile existing quality control information.

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Newmont subsequently implemented the recommendations, or placed the areas noted under
review.

12.2.3 Model Reviews

External reviews of the resource models have also been conducted by Optiro Pty Ltd (2014) and
Amec Foster Wheeler (2016).

12.2.3.1 Optiro
An external audit and review of the Subika July 2014 Mineral Resource was performed in October
2014. No significant issues were found with the estimate, and it was considered to reflect
Newmont’s corporate standards and criteria.

12.2.3.2 Amec Foster Wheeler

Amec Foster Wheeler’s review focused on the year-end 2015 Mineral Resource and Mineral
Reserve estimates. Areas examined included:
 Geology and data collection;
 Mineral Resource estimates;
 Mineral Reserve estimates;
 Mine planning;
 Geotechnical data (mining, infrastructure);
 Metallurgy and mineral processing;
 Financial analysis.
No significant issues were identified in any discipline area that could impact the Mineral Resource
and Mineral Reserve estimates, or the mine plan as defined in 2015. A number of
recommendations were made for incremental improvements in some discipline areas. Overall,
Amec Foster Wheeler concluded: “many of the practices and procedures at Ahafo [are] industry-
leading and significantly better than average”.

12.3 QP Comments on “Item 12: Data Verification”

The process of data verification for the Project was performed by Newmont personnel and
external consultancies contracted by Newmont.
The QP, who relies upon this work, reviewed the reports and is of the opinion that the data
verification programs indicate that the data stored in the project database accurately reflect
original sources and are adequate to support geological interpretations and Mineral Resource
and Mineral Reserve estimation, and in mine planning.

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The QP performed a site visit in August 2018 (refer to Section 2.4). Observations made during
the visit, in conjunction with discussions with site-based technical staff also support the geological
interpretations, and analytical and database quality. The QP’s personal inspection included
review of the estimation processes in place for Mineral Resource and Mineral Reserve estimation,
and mine planning, and the control procedures in place to ensure the process is being executed
as intended and is under control.
The QP also receives and reviews monthly reconciliation reports (refer to Section 12.1.8). These
reports support use of the underlying data in the Mineral Resource and Mineral Reserve
estimates.

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13.0 MINERAL PROCESSING AND METALLURGICAL

TESTING

13.1 Introduction
This section addresses the testwork supporting the existing Ahafo South process plant.

13.2 Metallurgical Testwork

13.2.1 Phase 1 Testwork

Phase 1 was completed under the direction of and interpreted by Lycopodium Pty Ltd
(Lycopodium) for the “Sefwi Belt Gold Project Detailed Feasibility Study”, dated June 2000 and
the “Ntotoroso Gold Project Detailed Feasibility Study”, dated December 2000.
The Phase 1 metallurgical testwork covered the following:
 Cyanide leaching testwork to determine gold recovery;
 Determination of cyanide and lime consumptions for various grind sizes ranging from
a P80 of 53–150 µm of selected composites from Apensu, Awonsu, Amoma, and
Subika;
 Bond rod and ball mill work indices, abrasion indices and JKTech drop weight
comminution parameters;
 Gravity concentration tests;
 Mineralogical examination of selected samples;
 Determination of thickening and slurry pumping characteristics;
 Tailings geochemical test.

13.2.2 Phase 2 Testwork

The Phase 2 testwork program was conducted under the direction of Newmont Mining
Corporation at Newmont Metallurgical Services and Hazen Research. The subsequent
metallurgical testwork was Newmont-directed. At the time of the Phase 2 metallurgical testwork
program, mineralization at Apensu, Awonsu, Amoma, and Subika in Ahafo South was in the
process of being evaluated. In this study, only primary mill feed material was evaluated; oxide
mineralization was not assessed.
The Phase 2 metallurgical testwork program covered the following:
 Cyanide leaching testwork to determine gold recovery;

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 Determination of cyanide and lime consumptions for various grind sizes ranging from
a P80 of 53–150 µm;
 Determination of Bond ball mill work indices, abrasion indices, SMC drop weight
tests;
 Heap leach testwork;
 Re-assessment of the grind P80 size was completed and the target grind P80 size
was coarsened to 106 µm.
At the completion of Phase 1 and 2 testwork, the decision was made to proceed with mining of
the Ahafo South area deposits, and the Ahafo South process plant was constructed on the basis
of testwork conducted on material from these deposits.

13.2.3 Newmont-Directed Testwork

Newmont directed testwork included testing mineralization that was projected to be mined in the
Apensu and Awonsu open pits during 2010–2011. Testwork included grindability work, recovery,
mineralogy, tailing characterization and rheology. Subsequent to the completion of the testwork,
grinding circuit throughput and recovery was forecasted for each ore type. The testwork results
were further used to validate the existing metallurgical models and performance of the process
plant. The models that were validated include:
 Recovery models;
 Throughput models developed for the process plant prior to 2006.

13.2.4 Throughput Assumptions

Assumptions used in the current throughput models, as part of the mine to mill process, are shown
in Table 13-1. This table summarizes results of all testwork completed to date, including historical
feasibility testwork, updated study work and ongoing mine-to-mill testwork.

13.2.4.1 Apensu
The drop weight index (DWi) for the Apensu samples is slightly higher than historical values
available for the Apensu material. The abrasion index (Ai) is lower, and the Bond work index
(BWi) is almost the same. The Apensu material is known from operational experience to be ball
mill-limiting. The lower Ai indicates a potential decrease in liner wear rates and grinding media
consumption. Mining operations at Apensu are completed, but stockpiled material from the
Apensu open pit is planned to be treated through 2020.

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Table 13-1: Comminution Parameters

Deposit Item DWi SG BWi Ai

No. 78 78 77 49
Average 11.5 2.79 16.0 0.373
Subika
Stdev 1.6 0.03 1.1 0.10
P85 13.1 2.81 17.2 0.465
No. 28 31 37 18
Average 8.86 2.74 18.6 0.485
Apensu
Stdev 1.2 0.03 1.7 0.19
P85 10.2 2.76 14.7 0.734
No. 75 78 81 63
Average 9.84 2.73 17.4 0.510
Awonsu
Stdev 1.3 0.03 2.0 0.19
P85 11.2 2.76 19.7 0.770
No. 17 18 24 19
Average 8.21 2.71 17.4 0.398
Amoma
Stdev 1.1 0.05 2.3 0.17
P85 9.30 2.76 20.0 0.515
No. 57 57 57 33
Average 9.95 2.78 15.0 0.394
Subika underground
Stdev 1.3 0.02 0.86 0.08
P85 11.5 2.80 15.6 0.49
Note: DWi = drop weight index; SG= specific gravity; BWi = Bond work index; Ai = abrasion index.

13.2.4.2 Subika
The DWi, BWi, and Ai for the Subika samples are higher than historical values available for the
Subika material. The Subika material is known to be very competent and has always been semi-
autogenous grind (SAG) mill-limiting. The latest test results indicate that an even more competent
ore can be expected to be treated in the future.

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13.2.4.3 Awonsu
The DWi and BWi for the Awonsu samples are higher than historical values available for the
Awonsu material, with the Ai the same. The latest results indicate that the Awonsu ore will even
be more SAG mill-limiting than current operational experience and a potential reduction in
throughput can be expected.

13.2.4.4 Amoma
In the 2016–2018 mine-to-mill study only one sample from the Amoma pit was tested. The sample
tested was in the same range as the historical values, from a total DWi database of 17 samples.
Mining is completed at Amoma; however, stockpiled material from the open pit is planned to be
processed from June 2020 to 2023.

13.2.4.5 Throughput Forecasts

The annual resource throughput models were generated from comminution testwork data.
Throughput curves were generated for each deposit. The resource throughput models assume
an availability of 91.3%.
In 2008, as a result of the Ahafo mill running 5% lower on throughput rate compared to budget,
an improvement initiative was commissioned, consisting of a mine-to-mill optimization project.
The project resulted in an improvement of 7–8% from the base in 2008 (95% of
budgeted/predicted throughput) and as a result the business plan throughput equations were
multiplied with a factor of 1.02, from 2011 to 2014.
In 2012, the 2008 model was extended to include the various scenarios planned for the Ahafo mill
expansion and was used to derive throughput models for the various Ahafo ore deposits to be
processed at the Ahafo South mill (for the current flowsheet (Line 1) and new flowsheet mill
expansion project, Line 2).
During 2013, new throughput models were developed for each deposit using the following
approach:
 SAG and ball mill specific energy consumption (kWh/t) for each of the major ore
types was determined by regression against monthly plant performance data;
 The ore parameters (DWi and BWi) that would be required to achieve these specific
energy values were identified;
 The ore parameters were then used to develop linear equations that approximate
the mill feed tonnage by ore type as a function of the amount of saprolite material in
a theoretical two component ore blend.
These models were updated in October 2014 using the most recent mill performance data, and
again updated in 2016, after turbo pulp lifters commenced operation in the Line 1 SAG mill. A
new model was developed using actual SAG mill and ball mill power draw data, as both mills were

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observed to consistently operate below the fixed pinion power assumptions used in the current
models. An official Citic SMCC™ model was then used to validate the predicted specific energy
consumption.
The 2016 model is yet to be used for mine planning due to the relative short operating history
since the installation of the turbo pulp lifters and the relatively low Subika open pit and
underground content in the mill feed blend. Higher Subika open pit and underground content
(>75%) in the mill feed blend was only observed in 2018.
The throughput forecast based on the 2019 Business Plan (BP19), which is calculated by entering
the actual feed blends in to the throughput equations was compared to the actual plant throughput
rates in Figure 13-1. Throughput equations for Line 1 and Line 2 are provided in
Table 13-2 and Table 13-3. No provision is made in Line 2 for oxide material, as it is envisaged
that no oxide material would be processed through the line.
For 2018, the difference between actual and predicted monthly throughput was within acceptable
ranges (+6.5% to -7%). Lower than predicted throughput was experienced between October to
December 2018 due to an increase in direct feed from pit material when compared to mill feed
sources in the previous months. The throughput model seems to predict more than actual with
Subika feed blends above 80%. However, the overall difference between the actual throughput
rate and the predicted throughput rate based on the actual feed blend for the 12-month period is
+1.7%. This suggests that the methodology used to derive the models is acceptable for further
use.
The actual throughput rate for 2018 was 784 t/h compared to 771 t/h model prediction.

13.2.5 Apensu Deeps

Stage 1 testwork to evaluate the comminution and gold recovery characteristics of the material
from the Apensu Deeps areas (Apensu South underground, Apensu Main underground, the Gap
or the area in between Apensu and Apensu South, and Apensu North underground), and the
amenability of recovering gold from the deposit using the current Ahafo South metallurgical plant
flowsheet is completed.
The comminution characteristics of the Apensu Deeps samples were compared to the existing
data from the open pit mining area as follows:
 DWi and Ai are generally higher than for the Apensu open pit material. Apensu
North samples demonstrated similar DWi numbers, but very high Ai numbers when
compared to the Apensu open pit material;
 BWi is similar to the Apensu open pit material. P85 values of the comminution data
set were calculated for use in development of throughput models at a grind size of
P80 -106 μm.

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Figure 13-1: Ahafo 12 Months Actual Versus Predicted Throughput Rate

Ahafo 2018 (January -December) Actual versus Predicted Throughput rate

1000

900 12.0

% difference between actual versus predicted rate

800

7.0
700 6
6
tonnes per hour (t/h)

4
4
600 4
3
2 2.0

500 0
0

-1
400 -2
-3.0

300

-7
200 -8.0
Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18

Actual Throughput Model Budget Actual-Theoretical

Note: Figure prepared by Newmont, 2019

Table 13-2: Throughput Equations for Line 1

Deposit a (slope) b (intercept) max

Subika 8,674,294 6,021,369 8,000,000
Subika underground 8,674,294 6,021,369 8,000,000
Apensu 4,178,981 6,455,533 8,000,000
Awonsu 4,277,101 7,068,970 8,000,000
Amoma 3,555,209 7,366,545 8,000,000
Awonsu Phases 3/4 7,730,940 5,938,686 8,000,000

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Table 13-3: Throughput Equations for Line 2

Deposit a (slope) b (intercept) max

Subika 0 3,322,096 3,550,000
Subika underground 0 3,322,096 3,550,000
Apensu 0 3,185,266 3,550,000
Awonsu 0 3,373,282 3,550,000
Amoma 0 3,528,012 3,550,000
Awonsu phases 3/4 0 3,144,675 3,550,000

Throughput models were derived for grinding to a grind size of P80 -106 μm based on the
measured comminution characteristics of all the Apensu Deeps data; assumptions are provided
in Table 13-4 for Line 1 and in Table 13-5 for Line 2.
Overall, the throughput rate of the Apensu Deeps mineralization was projected to be
approximately 7–14% lower than that previously modeled for the Apensu open pit material, and
have an approximately 1.5–3% reduction in recovery rate.
It was discovered that un-leached gold in the high-grade material is predominantly locked in pyrite,
resulting in the lower recovery. Test results indicated that a finer grind of the high-grade material
will improve recovery rates significantly. Additional tests are planned.
Newmont has collected pulps from previous drill campaigns in the various Apensu zones to
identify the distribution of arsenic and sulfur within the mineralized zones. Early metallurgical
studies showed correlations of arsenic and/or sulfide sulfur with leach gold extractions, which may
be useful in recovery modeling, should continuing testwork show similar trends. This testwork
program is underway.

13.2.6 Ahafo Mill Expansion Project

The Ahafo mill expansion (AME) project entails the addition of a separate crushing/grinding circuit
that will add approximately 50% more capacity to the current Ahafo South processing plant.
Newmont does not consider the AME project to be a material increase to current production.
With the AME project, a potential optimization opportunity was created to select two different grind
sizes for the Ahafo South ore sources provided the required equipment modifications were
implemented on either Line 1 (current circuit) or Line 2 (mill expansion project).
Two opportunities for possible recovery improvements were suggested for the AME project:
 Grinding to 53 µm using Line 2;
 Install a sulfide recovery circuit followed by finer grinding of the concentrate in Line 2.

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Table 13-4: Apensu Deeps Line 1 Throughput Assumptions

Deposit a (slope) b (intercept) Max

Apensu underground 3,539,851 5,899,141 8,000,000
Apensu Gap 3,592,803 5,554,192 8,000,000
Apensu South underground 3,539,118 5,903,038 8,000,000
Apensu North underground 3,465,770 5,985,290 8,000,000

Table 13-5: Apensu Deeps Line 2 Throughput Assumptions

Deposit a (slope) b (intercept) Max

Apensu underground 0 3,033,596 3,550,000
Apensu Gap 0 3,043,883 3,550,000
Apensu South underground 0 3,045,030 3,550,000
Apensu North underground 0 3,333,893 3,550,000

It was recommended that additional testwork investigating these optimization opportunities be

completed on mineralization that would be more likely to show increased recoveries from
implementation of these scenarios, focused on primarily material from underground sources.

13.3 Recovery Estimates

13.3.1 Assumptions
Mineralization is typically classed as either oxide or primary. Based on the current business plan
(BP19) it is expected that the plant will process 69 kt of oxide in 2019 and 1,131 kt in 2020.
Beyond 2020 no oxide material will be processed until the end of the mine life. In the primary ore
the gold is associated with fine pyrite mineralization or silicates.
The feed to the plant is currently only primary ore. For the remaining life of mine, insignificant
amounts of oxide will be processed. This is a significant difference from past operating conditions
where at least 20% of the mill feed was oxide.

13.3.2 Recovery Improvement Oxygen Addition to Carbon-In-Leach

During the Phase 1 and Phase 2 testwork, the effect of oxygen addition during leaching was
evaluated. It was found in general that no improvement in final gold extraction was achieved with
oxygen addition.

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However later testwork performed at Ahafo and Newmont Metallurgical Services indicated
otherwise; in fact, increased oxygen levels in the leach circuit increased the leach recovery.
Testwork completed at Ahafo indicated that 20 ppm dissolved oxygen addition to the CIL will
increase recovery.
As a result, Newmont invested in oxygen production on site. The oxygen plant for the existing
CIL plant (Line 1) was commissioned in April 2013. The plant consists of two modular 5 t units,
producing 10 t of oxygen per day.
All further and future testwork was and will be done at 20 ppm dissolved oxygen, to refine the
additional recovery benefit due to oxygen addition for each deposit.

13.3.3 Current Recovery Assumptions

The current Mineral Reserve and Mineral Resource metallurgical recovery assumptions have not
changed significantly since plant start-up. Recoveries for two deposits, Amoma and Subika
underground, were adjusted following additional metallurgical work completed for Amoma in 2009
and Subika underground in 2012.
From 2014, the same approach was used for compiling the recovery models for each deposit:
 Head and tail grade data for each deposit and grind size interval size were plotted;
 A power-based equation was fit through the data points to provide a formula to be
used in recovery equations;
 The power-based equations were then modified to account for soluble gold losses
in the CIL tail and fine carbon attrition on the processing plant.
A mine-to-mill testwork program in 2015 was performed on 73 samples intended to represent the
planned production for the period 2016–2018. Data from the tests conducted at 20 ppm oxygen
which reflects current operation of the plant along with relevant historical data, were used to
develop new recovery equations that incorporated the additional recovery benefit due to oxygen
enhancement, for every deposit. The mine plan recovery functions include a 4% recovery upscale
factor, as operational results exceed laboratory recovery estimates consistently by 4%. The
reason for the difference (scale-up) is due to the difference in particle size distributions generated
in a laboratory mill versus an operational mill (a finer distribution is generated during operations,
which leads to enhanced recoveries). The mine plan recovery functions also include allowances
for gold losses due to solution and carbon losses to allow for more accurate recovery projections.
The updated recovery models derived at a grind size of P80 106 µm, based on actual testwork
conducted at current plant conditions, for the various deposits are included in Table 13-6. These
equations were used to determine the block by block recovery and the individual blocks recoveries
were coded into the model for floating cones.
From this same mine–to-mill testwork program, models were also developed for grind sizes from
P80 75 µm and P80 150 µm to be used for optionality purposes in future studies/projects.

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Table 13-6: Recovery Equations

Deposit Recovery Equation

Subika Recovery = 1-(0.0787 HG^0.8372)/HG
Subika underground Recovery = 1-(0.0712 HG^0.8869)/HG
Apensu Recovery = 1-(0.1613 HG^0.9588)/HG
Awonsu Recovery = 1-(0.1518 HG^0.6034)/HG
Amoma Recovery = 1-(0.1504 HG^0.4965)/HG
Awonsu phases 3/4 Recovery = 1-(0.1566 HG^0.5036)/HG
Note HG = high grade.

LOM recovery estimates are provided in Table 13-7. The feed to the plant is currently only primary
ore. These were calculated based on tonnes and grade of various deposits that will be processed
through to LOM.
Stockpiled material is tracked by pit source and is assigned the same metallurgical recovery as
the deposit it is sourced from.

13.3.4 Apensu Deeps

Results from variability testwork were used to develop recovery models for the Apensu Deeps
deposit at grind size of P80 -106 µm. Results indicated:
 The Apensu underground recovery model compared to the Apensu open pit model
(without the 1.04 factor) yields higher recovery rates above a head grade of
2.5 g/t Au;
 The recovery rate for the Apensu South underground material decreases with an
increase in head grade, most likely due to gold being associated with sulfides/pyrite
requiring a finer grind size to liberate the gold particles;
 Comparing the recovery models for the Apensu underground and Apensu South
underground material to the Apensu open pit model that is used in BP19, the
recovery rates is about 1.5–3% lower over the head grade range of 3–5 g/t Au.
Recovery equations for the Apensu underground material are summarized in Table 13-8. The
equations presented in Table 13-8 do not include the upscale factor (4%) but do include
allowances for gold losses due to solution and carbon losses. Additional metallurgical testwork
is planned and recovery models will be updated as data become available.

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Table 13-7: Ahafo South Recovery Estimates

Metallurgical Recovery
Deposit/Zone
(%)
Apensu Deeps 84
Apensu underground 83
Apensu South underground 81
Awonsu phases 1 and 2 84
Awonsu phases 3 and 4 87
Subika open pit 93
Amoma 84
Subika underground 94
Note: all recoveries presented on an average LOM projected grade basis.

Table 13-8: Apensu Deeps Recovery Equations

Recovery Equations
Deposit
(106 µm
Apensu underground and Gap HG – (0.2109 * HG0.8572 + 0.006) ÷ HG
Apensu South underground HG – (0.0994 * HG1.3741 + 0.006) ÷ HG
Apensu North underground HG – (0.2389 * HG0.7886 + 0.006) ÷ HG
Note HG = high grade.

13.4 Metallurgical Variability

Samples selected for metallurgical testing during feasibility and development studies were
representative of the various styles of mineralization within the different deposits. Samples were
selected from a range of locations within the deposit zones. Sufficient samples were taken and
tests were performed using sufficient sample mass for the respective tests undertaken.

13.5 Deleterious Elements

The Ahafo South ores are clean ores containing low levels of problematic elements. The ores do
not contain significant amounts of arsenic, selenium and mercury to indicate health or
environmental risks. No appreciable levels of pregnant-solution-robbing materials are present in
the ores. The ores contain low sulfide sulfur, and low concentrations of primary cyanide
consumers (copper, nickel and zinc), which suggest that cyanide consumption may increase.

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13.6 QP Comments on “Item 13: Mineral Processing and

Metallurgical Testwork”
The QP notes:
 Metallurgical testwork completed on the Project is appropriate to establish optimal
processing for the different deposits that comprise the Ahafo South operations;
 Testwork was completed on mineralization that is typical of the deposit styles. The
testwork indicates that mineralization typically becomes harder with depth;
 The mill throughput and associated recovery factors are considered appropriate to
support Mineral Resource and Mineral Reserve estimation, and mine planning;
 The presence of minor concentrations of copper, nickel and zinc in mineralization
from Ahafo South may increase cyanide consumption;
The plant will produce variations in recovery due to the day-to-day changes in ore type or
combinations of ore type being processed. These variations are expected to trend to the forecast
recovery value for monthly or longer reporting periods.

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14.0 MINERAL RESOURCE ESTIMATES

14.1 Introduction
The close-out date for the databases used in the various Mineral Resource estimates are as
follows:
 Subika open pit: January 2018;
 Awonsu oxide: August 3, 2018;
 Awonsu Main: January 16, 2014;
 Subika underground: September 26, 2016;
 Apensu: May 5, 2017;
 Amoma: April 2014.

14.2 Modelling Approach

Geological models were constructed for the following deposits at the dates indicated, using
Vulcan™ geological modeling software:
 2018: Subika open pit, Awonsu oxide;
 2016: Subika underground
 2015: Apensu open pit
 2017: Apensu underground;
 2014: Awonsu Main, Amoma.
Block models are built with cell dimensions that are appropriate to the deposit style, orientation
and dimensions of the mineralization. Selectivity during mining, mining method, equipment size
and bench height are also taken into account when determining parent cell size. Subika
underground and Apensu Deeps models use sub-blocks to better represent volumes of thin, high-
grade mineralization. All other block models intended for open pit mining are full cell models.
Grade estimation is performed at the parent cell level and sub-blocks take the grades of
corresponding parent blocks.
For open pit resource models, where grade control information (blasthole assays) is available,
the grade estimation parameters are determined through calibration against a grade–tonnage
curve derived from re-blocked grade control models.
For underground resource models where no grade control information is available (Apensu Deeps
and Subika underground), estimation is geared towards minimizing conditional bias and
generation of a high-quality local estimate.

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14.3 Geological Models

The data used for the model construction are approved drill holes extracted from the GED. Data
were validated using Vulcan ISIS™ validation tools and on-screen visualization. Issues that came
out of the validation process were resolved by project geologist and corrections were sent back
to the GED before a final extraction to incorporate the validated data for the geologic modeling.
RC drilling had to be transformed to match core data as the core data was re-logged several times
over the years. The transformation involved matching alteration units between drill/logging
programs. Geological models incorporate various combinations of lithology, structure, alteration,
mineralization and metallurgical characteristics. These elements are interpreted on section and
reconciled in plan. Interpretation strings are snapped to drill hole intercepts and extrapolated
25 m beyond the last section where there is no drill hole information. Where there is drill hole
information that cannot support the interpretation, the extrapolation is limited to half way between
sections. Intermediary strings are generated for areas with high drill hole density. Domains are
modeled if they consistently occur on three consecutive sections.
Table 14-1 summarizes the modelling parameters used by deposit model.

14.4 Exploratory Data Analysis

Exploratory data analysis made use of tools such as descriptive statistics, histograms, cumulative
probability plots, box plots, and contact analysis of raw assays to guide the construction of the
block model and the development of estimation plans.
Most boundaries were considered hard for Mineral Resource estimation purposes, except at
Awonsu and Subika open pits where some domains were combined to produce soft contacts.

14.5 Density (Specific Gravity) Assignment

SG values were assigned to the block model based on oxidation surfaces interpreted by site
geologists. The bottom of saprolite and the top of fresh (not oxidized) material were used to
assign SG values to oxidized, partially oxidized and fresh (non-oxidized) material.

14.6 Grade Capping/Outlier Restrictions

Grade caps were determined from raw assay or composite statistics for each geology domain. In
most cases caps were determined from cumulative probability graphs of raw assays or composite,
indicated correlation (IC) and verified independently by the Decile or Parrish Method and or the
Hi Risk approach which assesses the amounts of metal at risk in each domain. The caps applied
are summarized in Table 14-2.

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Table 14-1: Modelling Parameters

Metallurgical Section/Plan
Deposit Geological Features Modeled
Characteristics Spacing
Quartz–sericite–pyrite alteration
intensity (QSP)≥ 1 (where % pyrite Base of oxidation 25 m spaced
and Au grade used as modifiers) (Sap) surface sections
Awonsu
Weakly mineralized intrusive (WMI) Top of fresh rock 40 m spaced
0.2 g/t Au shell surface plan view
Granodiorite–metasediment contact
Silica–albite alteration intensity = 1
(SA1)
Base of oxidation 25 m spaced
Silica–albite alteration intensity = 2&3
(Sap) surface sections
Subika open pit (SA23)
Top of fresh rock 40 m spaced
Same features used for the
surface plan view
underground model 0.2 g/t Au shell
Structures: Kaalbas and Victor Faults
Silica–albite alteration intensity = 2&3
25 m spaced
(SA23)
sections
Subika underground Gold grade used as a modifier Not applicable
40 m spaced
Structures: Kaalbas, Victor, Deep,
plan view
Hatch and Ainoo Faults
Silica–albite alteration intensity = 2&3
(SA23) 25 m spaced
Breccia (BX) sections
Apensu Deeps Not applicable
Cataclasite (CAT), 24 m spaced
%Pyrite and gold grade used as a plan view
modifier
Cataclasite (CAT) and several BX
textures,
Base of oxidation 25 m spaced
Silica–albite alteration intensity = 2&3
Apensu open pit (Sap) surface sections
(SA23)
(Main & South) Top of fresh rock 24 m spaced
%Pyrite, and gold grade used as a
surface plan view
modifier
0.2 g/t Au shell

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Table 14-2: Grade Caps

Grade Cap
Deposit Lithology/Domain
(g/t Au)
Cat 35
Apensu FW 25
HW 30
Apensu South area 40
Gap area 12
Apensu Deeps
Apensu Main area 22
Apensu North area 22
QSP2 20
QSP1 15
Subika open pit
Gr Shell 8
Victor Faults 4
Subika underground SA2-3 40
Cat 28
WMI 8
Awonsu 0.20 g/t Au grade shell 25
North Oxide + 0.2 g/t Au shell 6
North Oxide + 0.8 g/t Au shell 7

14.7 Composites
Composite lengths vary by deposit:
 Apensu open pit (Main and South): 4 m;
 Apensu Deeps: 4 m;
 Subika open pit: 8 m;
 Subika underground: 2 m;
 Awonsu: 4 m.
Geology contacts were used to break composite calculations at Apensu, Apensu Deeps, Subika
and Awonsu. The composites were coded for lithology, oxidation state and grade shell using the
50% rule, except Subika which used the centroid rule.

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14.8 Variography
Commercially-available Sage2001™ and Supervisor™ software were used to compute
experimental multi-directional correlograms and to fit theoretical models.
Correlograms and/or variograms were computed by lithological domain, calculated in the rotated
plane of the mineralization as determined from variogram contours.
Directional increments were usually of 30º and 15º for the azimuth and dip angles, respectively,
resulting in 73 principal directions. The nugget effect was determined from the down the hole
correlograms and then fixed for the directional correlograms. Two spherical or exponential
structures were fitted in most cases using a combination of the auto-fit option and geological
interpretation.

14.9 Estimation/Interpolation Methods

Newmont has a standardized protocol for resource modelling and estimation, which includes the
following steps:
 A cross-functional model planning meeting is held to define the purpose of the
Resource model;
 Data quality and suitability are verified during database extraction process;
 Appropriate geological frameworks are constructed during the geological modeling
phase;
 Regular progress meetings and a handover meeting of the geological model to the
Resource estimation personnel are convened. A geostatistician is involved in the
geological modelling process so they have an understanding of what is being
modeled;
 Exploratory data analysis is undertaken as per the relevant guidelines;
 The estimation plan is consistent with the data analysis and mineralization style,
change of support is investigated and where possible the model calibrated with
production data;
 Resource is classified in conformance with the Resource Classification Guideline;
 Resource risk is assessed in accordance with the Resource Risk Assessment
Guideline;
 A face to face or virtual meeting and presentation is held with Mine Engineering for
each Resource model released;
 Model documentation is completed in conformance with the Resource Model
Documentation Guideline.

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All Ahafo South deposits are estimated using ordinary kriging (OK) interpolation methods.
Estimation domains by deposit include:
 Awonsu: QSP alteration, weakly mineralized intrusive, 0.2 g/t Au grade shell;
 Subika open pit: QSP 1 and QSP 2 alteration, 0.2 g/t Au grade shell;
 Subika underground: QSP 2/3 alteration;
 Apensu Deeps: silica–albite 2/3 alteration;
 Apensu open pit (Main and South): cataclasite, BX, silica–albite 2/3 alteration,
footwall and hanging wall grade shells.
Grade estimations were selective by mineralization domains in most cases and restricted within
a +0.2 g/t Au grade shell for open pit models and +2.0 g/t Au for underground models. The
underground models (Subika underground and Apensu Deeps) were constrained within their
mineralized shapes (SA shapes). Depending on the deposit, the minimum and maximum
numbers of samples that were required to estimate a block (by domain) ranged from one to 30.
Based on the relationships observed in the different variogram ranges, octant restrictions were
implemented. Sample searches were tailored in such a manner that three to four drill holes were
included along the strike of the ellipsoid, two to three drill holes were included perpendicular to
strike and one to two composites were selected in the cross-plane direction. The high yield
method was employed during the Subika open pit update to avoid including high-grade samples
when estimating distant blocks.
Table 14-3 summarizes the estimation parameters used, by deposit.

14.10 Block Model Validation

Resource block models constructed by Newmont were validated according to Newmont standard
practices, which included:
 An on-screen check of geological domain assignment;
 An on-screen check of composite selections;
 An on-screen, visual inspection of OK (or ID5) blocks in plan and section and a
comparison with the composite input data;
 A check on global grade bias by comparing the statistics of OK and nearest neighbor
(NN) grade estimates, usually by domains;
 An on-screen check of model block density assignments;
 Hermitian correction (Herco) to account for change of (composite and block) support;
 Swath plots along the major dimensions of the deposits, comparing OK, ID, and NN
estimates together with tonnage by domains;
 Calibration to historical production for Subika open pit, Awonsu and Apensu
deposits.

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Table 14-3: Estimation Parameters

Pass 1 Pass 2 Pass 3

Limit of
Minimum Maximum Maximum Maximum Maximum
Samples
Deposit Number of Number of Search Search Search
per Drill
Samples Samples Range Range Range
Hole
(m) (m) (m)
Awonsu 3 10 2 150 240 —
6 24 4
Subika open
3 10 2 150 240 240
pit
3 10 2
Subika
3 24 3 250 — —
underground
Apensu Deeps 3 10 2 75 150 340
Apensu open
pit (Main and 3 10 2 150 150 340
South)

These validation procedures indicated that the geology and resource models used are acceptable
to support Mineral Resource estimation.

14.11 Classification of Mineral Resources

Resource classification parameters are based on the results of drill hole spacing simulation
studies. These are summarized in Table 14-4.

14.12 Reasonable Prospects of Eventual Economic Extraction

Mineral Resources considered amenable to open pit mining methods are reported within a
Lerchs–Grossmann (LG) pit shell that uses the parameters set out in Table 14-5. Variable
incremental cut-off grades that range from 0.42–0.43 g/t Au in saprolite to 0.55–0.62 g/t Au in
transition/fresh material were used in the inputs.
Mineral Resources considered amenable to underground mining methods are reported within
underground stope designs, using the parameters in Table 14-6 and Table 14-7 for Apensu Deeps
and Subika, respectively.

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Table 14-4: Classification Parameters

Diagonal Distance Drill Spacing

Deposit Criteria (m) (m)
Measured Indicated Inferred Measured Indicated Inferred
3 holes;
Awonsu — ≤25 >25 but ≤35 — 35 50
3 composites
Subika open 3 holes;
≤19.3 >19.3 but ≤27 >27 but ≤53.9 25 35 70
pit 3 composites
Subika 3 holes;
≤10 >10 but ≤24 24 but ≤39 12.2 30 50
underground 3 composites
Apensu 3 holes;
≤13.5 >13.5 but ≤27 >27 but ≤39 17.5 35 50
Deeps 3 composites
Apensu
open pit 3 holes;
— ≤27.5 >27.5 but ≤38.5 — 35 50
(Main and 3 composites
South)

Table 14-5: Input Parameters, Open Pits

Apensu Apensu
Parameters Oxidation Units Subika Awonsu
Main South
Gold price US$/oz 1,400 1,400 1,400 1,400
Royalty rate % 5 4 3 3
Royalty US$/oz 70 56 42 42
Refinery and
US$/oz 1.8052 1.8052 1.8052 1.8052
carbon handling
Discount rate % 0 0 0 0
saprolite US$/t mined 3.41 3.41 3.41 3.41
Mining cost transition +
US$/t mined 3.84 3.84 3.84 3.84
fresh rock
US$/t
saprolite 0.025 0.025 0.025 0.025
mined/bench
Mining cost incremental
transition + US$/t
0.025 0.025 0.025 0.025
fresh rock mined/bench
Waste rehabilitation
US$/t mined 0.12 0.12 0.12 0.12
cost

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Apensu Apensu
Parameters Oxidation Units Subika Awonsu
Main South
US$/t
saprolite 16.73 16.61 16.53 16.47
processed
Process & G&A cost
transition + US$/t
21.45 21.67 21.50 21.60
fresh rock processed
saprolite % 95 95 95 95
Metallurgical
recovery transition +
% 93 87 89 89
fresh rock
saprolite +
degrees 30 30 30 30
transition
Pit slope angles fresh rock
degrees 55 34–45 36–48 36–48
(IRA) footwall
fresh rock
degrees 55 50–52 51 51
hanging wall
saprolite g/t Au 0.55 0.56–0.62 0.57–0.59 0.59
Cut-off grades transition +
g/t Au 0.43 0.41–0.42 0.41–0.42 0.42
fresh rock

Table 14-6: Input Parameters, Apensu Deeps

Economic Parameters Zone Units Values

Gold price US$/oz 1,400
Royalty rate % 5.5
Refinery and carbon handling US$/oz 6.22
Discount rate % 9
Mining cost US$/t mined 93.52
Process cost US$/t processed 16.59
G&A cost US$/t processed 1.57
Metallurgical recovery Main zone % 88
Cut-off grade g/t Au 2.5–3.5
Note: Metallurgical recovery figure is the percentage used in stope design and differs slightly from the LOMP percentage
assumption.

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Table 14-7: Input Parameters, Subika Underground

Economic Parameters Zone Units Values

Gold price US$/oz 1,400
Royalty rate % 5.5
Refinery and carbon handling US$/oz 2.80
Discount rate % 0
Mining cost US$/t mined 112.98
Process cost US$/t processed 20.74
G&A cost + site sustaining US$/t processed 2.61
Metallurgical recovery Central zone % 94
Metallurgical recovery North zone % 94
Metallurgical recovery South zone % 94
Cut-off grade g/t 3

14.13 Mineral Resource Statement

Mineral Resources are reported in Table 14-8. Mineral Resources are reported using the 2014
CIM Definition Standards and have an effective date of 31 December 2018. The Mineral
Resource estimates for Ahafo South were prepared by the following Newmont employees:
 Open pit estimates: Mr. Robert Owusu-Bempah, RM SME;
 Subika underground estimate: Mr. Ralf Kintzel, RM SME;
 Apensu Deeps estimate: Mr Mark Ramirez, RM SME.
The QP taking responsibility for the Mineral Resource estimates is Mr. Donald Doe, RM SME,
Group Executive, Reserves, an employee of Newmont.
Mineral Resources are reported on a 100% basis. Newmont holds a 90% interest and the
Government of Ghana has a 10% free-carried interest.
Mineral Resources are reported exclusive of Mineral Reserves. Mineral Resources that are not
Mineral Reserves do not have demonstrated economic viability.

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Table 14-8: Mineral Resource Statement

Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
Cont. Cont. Cont. Cont.
Area Tonnage Grade Gold Tonnage Grade Gold Tonnage Grade Gold Tonnage Grade Gold
(x 1,000 t) (g/t Au) (x 1,000 (x 1,000 t) (g/t Au) (x 1,000 (x 1,000 t) (g/t) (x 1,000 (x 1,000 t) (g/t Au) (x 1,000
oz) oz) oz) oz)
Ahafo open pits 1,400 0.59 30 25,400 1.21 990 26,800 1.18 1,020 9,600 1.54 480
Ahafo underground 0 0.00 0 9,900 4.80 1,530 9,900 4.80 1,530 12,200 4.47 1,740
Total Ahafo 1,400 0.59 30 35,300 2.22 2,520 36,700 2.16 2,550 21,800 3.17 2,220
Notes to Accompany Mineral Resource Table:

1. Mineral Resources are reported with an effective date of 31 December, 2018, using the 2014 CIM Definition Standards. The Qualified Person responsible for the estimate is
Mr. Donald Doe, RM SME, Group Executive, Reserves, a Newmont employee.
2. Mineral Resources are reported on a 100% basis. Newmont holds a 90% interest and the Government of Ghana has a 10% free-carried interest.
3. Mineral Resources are reported exclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
4. Mineral Resources that are amenable to open pit mining methods are constrained within a designed pit shell. Parameters used include a gold price of US$1,400/oz, royalty
rates that vary from 3–5% resulting in variable royalty payments from US$42–US$70/oz Au, refinery and carbon handling charges of US$1.80/oz Au, a variable mining cost
depending on material, of US$3.41/t mined in saprolite and US$3.84 in transition/fresh material, variable process and general and administrative (G&A) costs by deposit and
material ranging from US$16.47–US$21.67/t processed; variable metallurgical recoveries based on deposit and mineralization type that range from 87–95%, and pit slope
inter-ramp angles that range from 30–55º. The estimates are reported at variable incremental cut-off grades that range from 0.42–0.43 g/t Au in saprolite to 0.55–0.62 g/t Au
in transition/fresh material.
5. Mineral Resources that are amenable to underground mining methods are constrained within conceptual stope designs. Parameters used include a gold price of US$1,400/oz,
a 5.5% royalty rate, refinery and carbon handling charges of US$6.22/oz Au (Apensu Deeps) and US$2.80 (Subika); mining cost of US$93.52/t mined (Apensu Deeps) and
US$112.98/t mined (Subika); processing costs of US$11.59 t/processed (Apensu Deeps) and US$20.74/t processed (Subika); G&A costs of US$1.57/t processed (Apensu
Deeps) and US$2.61/t processed (Subika); and metallurgical recoveries of 88% (Apensu Deeps) and 94% (Subika). The estimates are reported at variable cut-off grades to
accommodate different mining methods, and range from 2.5–3.5 g/t Au (Apensu Deeps) and 3 g/t Au (Subika).
6. Tonnages are metric tonnes rounded to the nearest 100,000. Gold grade is rounded to the nearest 0.01 gold grams per tonne. Gold ounces are estimates of metal contained
in tonnages and do not include allowances for processing losses. Contained (cont.) gold ounces are reported as troy ounces, rounded to the nearest 10,000.
7. Rounding of tonnes and contained metal content as required by reporting guidelines may result in apparent differences between tonnes, grade and contained metal content.
Due to rounding, some cells may show a zero (“0”).

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14.14 Factors That May Affect the Mineral Resource Estimate

Areas of uncertainty that may materially impact the Mineral Resource estimates include:
 Changes to long-term gold price assumptions;
 Changes in local interpretations of mineralization geometry and continuity of
mineralized zones;
 Changes to geological shape and continuity assumptions;
 Changes to metallurgical recovery assumptions;
 Changes to the operating cut-off assumptions for mill feed or stockpile feed;
 Changes to the input assumptions used to derive the conceptual open pit and stope
outlines used to constrain the estimate;
 Changes to the cut-off grades used to constrain the estimates;
 Variations in geotechnical, hydrogeological and mining assumptions;
 Changes to environmental, permitting and social license assumptions.

14.15 QP Comments on “Item 14: Mineral Resource Estimates”

The QP is of the opinion that Mineral Resources were estimated using industry-accepted
practices, and conform to the 2014 CIM Definition Standards. Mineral Resources are based on
both open pit and underground mining assumptions.
There are no other known environmental, legal, title, taxation, socioeconomic, marketing, political
or other relevant factors that would materially affect the estimation of Mineral Resources that are
not discussed in this Report.

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15.0 MINERAL RESERVE ESTIMATES

15.1 Introduction
Mineral Reserves in the Ahafo South area are estimated for the Subika and Awonsu deposits,
assuming open pit mining, and for Subika, assuming underground mining.
The Geovia Whittle™ pit optimization program (Whittle 4.7.1) was used to perform a Lerchs–
Grossmann (LG) optimization in support of Mineral Reserves reporting for mineralization
amenable to open pit mining methods.
A safety crown pillar of 25 m is left between the base of the Subika Phase 4 pit and the top of the
Subika underground stopes. This pillar will not be mined and thus makes Phase 4 the final open
pit limit for the Subika deposit.
All Inferred blocks are classified as waste in the cashflow analysis that supports Mineral Reserve
estimation.
The Mineral Reserves are forward-looking information and actual results may vary. The risks
regarding Mineral Reserves are summarized in Section 15.4 and in Section 25. The assumptions
used in the Mineral Reserve estimates are summarized in the footnotes of the Mineral Reserve
table and are discussed in the following sub-sections and in Section 16.

15.2 Open Pit Estimates

15.2.1 Pit Optimization

For Mineral Reserves, Newmont applies a time discount factor to the dollar value block model
that is generated in the LG pit-limit analysis, to account for the fact that a pit will be mined over a
period of years, and that the cost of waste stripping in the early years must bear the cost of the
time value of money. In some deposits, where mineralization is uniformly distributed throughout
the pit, or where the pit is shallow, discounting has little effect on the economic pit limit. For the
Awonsu and Subika deposits, where upper benches contain a high percentage of the waste, and
mineralization quantities and/or grade increase with depth, discounting provides a smaller pit limit
upon which mine designs are based.
Pit discounting is accomplished by running the pit-limit “dollar” model through a program that
discounts the dollar model values at a compound rate based on the depth of the block. In this
manner, discounting is applied to future costs as well as future revenues, to represent the fact
that mining proceeds from the top down within a phase.
Optimization work involved floating cones at a series of gold prices. The generated nested pit
shells were evaluated using the reserve gold price of US$1,200/oz and a 9% discount rate. The
pit shells with the highest NPV were selected for detailed engineering design work.

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A realistic schedule was developed in order to determine the optimal pit shell for each deposit;
schedule inputs include the minimum mining width, and vertical rate of advance, mining rate and
mining sequence.
Whittle analysis indicated a two-stage pit development was the best option for Awonsu, using a
minimum mining width of 50 m. The Subika Phase 3 pit is currently being mined. No changes
were made to the Phase 4 pit design for Subika. The Phase 4 design assumes a minimum 40 m
mining width.

15.2.2 Optimization Inputs

Operating costs for mining, processing, site and Accra administration were developed as part of
the 2019 business plan (BP19) process. The costs build-up for BP19 are based on actual values
as of the end of April 2018, as well as inclusion of a number of projected cost-saving measures
and efficiency gains. Costs are un-escalated. Input parameters used in the LG constraining
shells are summarized in Table 15-1. The estimates are reported at variable cut-off grades that
range from 2.6–3.3 g/t Au
The costs developed as part of BP19 were based on a three-shovel mining fleet through to the
end of mine life. Truck and drill quantities were forecasted and budgeted during the business
planning process based on detailed studies. MineSight’s MSHaulage™ software was used to
generate haulage distances and travel times based on truck field studies and site-based speed
tables. The travel times were input into XERAS™ software, together with the mining and process
schedule, to generate the required truck quantities per period. Drill quantities were forecast based
on mining rates, pattern size and pit specific penetration rates.
Process costs are determined for each pit and material type (oxide and primary) using BP19 and
results of internal studies. The theoretical process cost per tonne was determined for each
material type from both the BP19 costs and ore feed blend.
Reclamation and closure costs were estimated from site environmental calculations.
Mine operating costs are sensitive to the cost of diesel fuel. Mineral Reserves assume US$70/bbl
diesel for Brent pricing as per Newmont Corporate Guidance and account for Ghanaian taxes and
local delivery. Mill operating costs are sensitive to the cost of electrical power. The Mineral
Reserves assume a power cost of US$0.144 per kWh based on Newmont’s estimate of long-term
power costs.

15.2.3 Ore Loss and Dilution

All operating pits at Ahafo South are mined on 8 m benches. The Subika model is a 12 m x 12 m
x 8 m model to account for the 8 m mining. Block models for Awonsu, however, are produced
using a 10 m x 10 m x 8 m block dimension to reflect the increased selectivity in ore zones.
The block models were constructed to include the expected dilution based on mining methods,
bench height and other factors. The current mine and process reconciliation appears to support
this assumption.

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Table 15-1: Input Parameters, Open Pits

Apensu Apensu
Parameters Oxidation Units Subika Awonsu
Main South
Gold price US$/oz 1,200 1,200 1,200 1,200
Royalty rate % 5 4 3 3
Royalty US$/oz 60.00 48.00 36.00 36.00
Refinery and carbon
US$/oz 1.8052 1.8052 1.8052 1.8052
handling
Discount rate % 9 9 9 9
saprolite US$/t mined 3.41 3.41 3.41 3.41

Mining cost transition

+ fresh US$/t mined 3.84 3.84 3.84 3.84
rock
saprolite US$/t mined/bench 0.025 0.025 0.025 0.025

Mining cost incremental transition

+ fresh US$/t mined/bench 0.025 0.025 0.025 0.025
rock
Waste rehabilitation cost US$/t mined 0.12 0.12 0.12 0.12
saprolite US$/t processed 16.73 16.61 16.53 16.47

Process & G&A cost transition

+ fresh US$/t processed 21.45 21.67 21.50 21.60
rock
saprolite % 95 95 95 95

Metallurgical recovery transition

+ fresh % 93 87 89 89
rock
saprolite
+ degrees 30 30 30 30
transition
Pit slope angles fresh rock
degrees 55 34–45 36–48 36–48
(IRA) footwall
fresh rock
hanging degrees 55 50–52 51 51
wall

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15.3 Underground Estimates

15.3.1 Mining Zones

The underground mining operations are split into two areas (see also discussion in Section
16.2.2):
 The Upper mining zone, above the 840 relative level (RL); also known as the upper
Yoda area;
 The Central mining zone (corridor) below the 840 RL; also referred to as the Central
area.

15.3.2 Stope Designs

The mine plan assumes use of a number of different mining methods including:
 Sub-level open stope (SLOS): to be used above the 840 RL;
 Long-hole open stope retreat (LHOSR): to be used above the 750 RL;
 Long-hole retreat with rockfill (LHSRF): to be used in the transition zone between
the 750 and 665 RLs;
 Single lens retreat (SLR): to be used below the 665 RL; stopes will be paste-filled;
Stope designs for underground operations are based on the parameters in Table 15-2. Additional
input parameters to the underground Mineral Reserves estimate are provided in Table 15-3.
Section 16.3 provides details on mine designs and cut-off grades.
A 25 m thick crown pillar will be left between the base of the Subika open pit, and the underground
operations. An exclusion zone was created for the region under the final pit shape. Stopes within
the exclusion zone that could not be adequately supported with additional ground support were
removed from the mine plan.
Stopes were created using the Datamine Mineable Shape Optimizer™ (MSO) software at the
required stope height, length and cut-off criteria based on the mine area. The stope widths
depend on the stope cut-off and dilution (over-break) added to stope design, and the mining
method used.

15.3.3 Ore Loss and Dilution

A stope recovery of 90% is expected in all mining areas. Dilution is projected to be 7.6%.

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Table 15-2: Design Parameters, Subika Underground

Parameter Unit SLOS LHOSR LHSRF SLR

Stoping incremental cut-off g/t Au 2.2 3.3 3.3 3.3
Dilution hanging wall m 0.5 0.5 0.5 0.5
Dilution footwall m 0.25 0.25 0.25 0.25
Dilution development % 10 10 10 10
Stope width minimum m 3 5 5 5
Stope width maximum m 30 20 25 50
Level spacing LHOSR m 40 25 25–35 35
Min stope length m 20 20 20 20
Max stope length (excluding
m 60 35 35 20
pillar)
Stope-pillar extraction % 80 60 70 100
Minimum pillar ratio 0.8 1.0 1.0 NA
Open or Delayed Rockfill in Paste
Fill assumption
rockfill rockfill sequence fill
Pillar lengths m 10–20 15–25 15–25 NA
Crown pillar m 15–20 25 NA NA
Stope end wall vertical vertical vertical vertical
Footwall angle º 50–90 50–90 50–90 vertical
Hanging wall angle º 60–90 60–90 60–90 vertical
Minimum pillar between
m 15 25 15 5
stopes
Stope recovery % 90 90 90 90
Mill recovery % 94 94 94 94
Note: N/A = not applicable.

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Table 15-3: Input Parameters, Subika Underground

Economic Parameters Units Values

Gold price US$/oz 1,200
Royalty rate % 5
Refinery and carbon handling US$/oz 2.80
Discount rate % 9
Mining cost US$/t mined 118.29
Process cost US$/t processed 20.74
G&A cost + site sustaining US$/t processed 1.96
Cut-off grades g/t 2.6–3.3

15.4 Mineral Reserves Statement

Mineral Reserves are reported in Table 15-4 using the 2014 CIM Definition Standards and have
an effective date of 31 December 2018. Mineral Reserves are reported using variable cut-off
grades, that vary by deposit and by material type. Mineral Reserves are reported on a 100%
basis. Newmont holds a 90% interest and the Government of Ghana has a 10% free-carried
interest.
Mineral Reserves for Ahafo South were estimated by Mr. Robert Owusu-Bempah RM SME (open
pit estimates) and Mr. Ralf Kintzel RM SME (Subika underground estimate), each of whom is a
Newmont employee.
The QP taking responsibility for the Mineral Reserve estimates is Mr. Donald Doe, RM SME,
Group Executive, Reserves, an employee of Newmont.

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Table 15-4: Mineral Reserves Statement

Proven Probable Proven and Probable

Cont. Cont. Cont.
Area Tonnage Grade Gold Tonnage Grade Gold Tonnage Grade Gold
(x 1,000 t) (g/t Au) (x 1,000 (x 1,000 t) (g/t Au) (x 1,000 (x 1,000 t) (g/t Au) (x 1,000
oz) oz) oz)
Ahafo open pits 15,900 2.40 1,230 48,700 1.83 2,870 64,600 1.97 4,100
Ahafo stockpiles 38,000 0.92 1,130 0 0.00 0 38,000 0.92 1,130
Ahafo underground 0 0.00 0 7,500 4.74 1,150 7,500 4.74 1,150
Total Ahafo 53,900 1.36 2,360 56,200 2.22 4,020 110,100 1.80 6,380
Notes to Accompany Mineral Reserves Table:

1. Mineral Reserves are reported with an effective date of 31 December, 2018, using the 2014 CIM Definition Standards. The Qualified Person
responsible for the estimate is Mr. Donald Doe, RM SME, Group Executive, Reserves, a Newmont employee.
2. Mineral Reserves are reported on a 100% basis. Newmont holds a 90% interest and the Government of Ghana has a 10% free-carried interest.
3. Mineral Reserves that are estimated using open pit mining methods are constrained within an optimized Lerchs–Grossmann pit shell. Parameters
used include a gold price of US$1,200/oz, variable royalty rates that range from 3–5% resulting in royalty payments that range from US$36–60/oz
Au; refinery and carbon handling charges of US$1.80/oz Au, a variable mining cost based on material mined of US$3.41/t mined in saprolite to
US$3.84/t mined in transition/fresh material; processing and general and administrative (G&A) costs that are variable by deposit and material,
ranging from US$16.47–US$21.67/t processed; variable metallurgical recoveries based on mineralization type that range from 87–95%; and pit
slope inter-ramp angles that vary from 30–55º. The estimates are reported at variable incremental cutoff grades that are no less than 0.64 g/t Au,
which correspond to break-even cut-off grades that range from 0.74–0.80 g/t Au.
4. Mineral Reserves estimated using underground mining methods are constrained within stope designs. Parameters used include a gold price of
US$1,200/oz, 5% royalty rate, refinery and carbon handling charges of US$2.80/oz Au, a mining cost of US$118.29/t mined, process cost of
US$20.74/t processed, general and administrative cost of US$1.96/t processed; a metallurgical recovery of 94%; a stope recovery of 90% and
dilution assumptions of 7.6%. The estimates are reported at variable stoping incremental cutoff grades no less than 2.2 g/t Au, which correspond
to a life-of-mine average incremental stoping cutoff grade of approximately 3.3 g/t Au.
5. Tonnages are metric tonnes rounded to the nearest 100,000. Gold grade is rounded to the nearest 0.01 gold grams per tonne. Gold ounces are
estimates of metal contained in tonnages and do not include allowances for processing losses. Contained (cont.) gold ounces are reported as troy
ounces, rounded to the nearest 10,000.
6. Rounding of tonnes and contained metal content as required by reporting guidelines may result in apparent differences between tonnes, grade and
contained metal content. Due to rounding, some cells may show a zero (“0”).

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15.5 Factors that May Affect the Mineral Reserves

Areas of uncertainty that may materially impact the Mineral Reserve estimates include:
 Changes to long-term gold price assumptions;
 Changes to metallurgical recovery assumptions;
 Changes to the operating cut-off assumptions for mill feed or stockpile feed;
 Changes to the input assumptions used to derive the open pit and stope outlines
and the mine plan that is based on those open pit and stope designs;
 Changes to include operating, and capital assumptions used, including changes to
input cost assumptions such as consumables, labor costs, royalty and taxation rates;
 Variations in geotechnical, mining, dilution and processing recovery assumptions;
including changes to pit phase or stope designs as a result of changes to
geotechnical, hydrogeological, and engineering data used. The Subika
underground assumptions in terms of stope design and operating costs in particular
will vary if good geotechnical control is not maintained;
 Changes to the cut-off grades used to constrain the estimates;
 Changes to the assumed permitting and regulatory environment under which the
mine plan was developed;
 Ability to maintain mining permits and/or surface rights;
 Ability to permit the expanded TSF;
 Ability to obtain operations certificates in support of current and future underground
mine plans;
 Ability to maintain social and environmental license to operate.

15.6 QP Comments on “Item 15: Mineral Reserve Estimates”

The QP is of the opinion that Mineral Reserves were estimated using industry-accepted practices,
and conform to the 2014 CIM Definition Standards. Mineral Reserves are based on both open
pit and underground mining assumptions. The Mineral Reserves are adequate to support mine
planning.
As a result of additional information gathered in the period 2016–2018, the geotechnical setting
of the Subika underground deposit is identified as being an adverse stress field, and mining
activities will further contribute to the stress regime. The mine plan has been modified to
accommodate/alleviate high mine induced stresses; however, effective geotechnical
management procedures are critical for safe and complete extraction of the Mineral Reserves.

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There are no other known environmental, legal, title, taxation, socioeconomic, marketing, political
or other relevant factors that would materially affect the estimation of Mineral Reserves that are
not discussed in this Report.

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16.0 MINING METHODS

16.1 Overview
Open pit mining is conducted at Ahafo South using conventional techniques and an Owner-
operated conventional truck and shovel fleet.
Underground mining is currently conducted using conventional stoping methods, and
conventional mechanized equipment. Underground mining is conducted by a contractor.
Stockpiles and waste rock storage facilities are discussed in Section 18.

16.2 Open Pit

16.2.1 Geotechnical Considerations

Open pit design for the Project uses defined geotechnical domains together with rock mass quality
ratings for the principal lithology and appropriate pit design criteria that reflect expected conditions
and risk. Both Newmont’s Geotechnical Engineering Department and external consultants have
completed geotechnical studies and provided the geotechnical recommendations that form the
basis for pit designs. A ground control management plan was developed, and is updated on an
annual basis.
Geotechnical assumptions are presented in Table 16-1 and Figure 16-1 for Awonsu, and in
Table 16-2 and Figure 16-2 for Subika.

16.2.2 Hydrogeological Considerations

The active pits are currently mining below the water table. Pit dewatering uses a combination of
perimeter and in-pit dewatering wells, in-pit sumps, and horizontal drains. A network of monitoring
piezometers is installed around all of the operating pits.

16.2.3 Operations
Pit design assumptions include haul road widths for two-way travel of 30 m, maximum ramp
grades of 10% and minimum pit-bottom widths of 40 m in deep pits as a safety measure.
Operations use a standard drill-and-blast, truck-and-shovel configuration. The current fleet
includes three Liebherr 9400 shovels that are used in production and one Liebherr 994 backhoe
that is used for high-wall clean up and sump construction.

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Table 16-1: Awonsu Geotechnical Assumptions

Inter-
Batter Berm Height
Domain Slope Azimuth Ramp
Rock Type Description Angle Width Bench
Name Direction (°) Angle
(°) (m) (m)
(°)
Saprolite
1 Oxide 0–360 0–360 30 65 10 8
material
Primary
2 128 220–45 West wall 34 55 6 8
Graphite
Primary
3 300 45–220 East wall 50 70 7.6 16
Granitoid
Northeast
4 Primary 230 10–085 52 65 5 16
wall
Primary
5 128 220–45 West wall 45 55 4.8 16
GVM

Figure 16-1: Schematic Showing Awonsu Geotechnical Domains

Note: Figure prepared by Newmont, 2018.

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Table 16-2: Subika Open Pit Geotechnical Assumptions

Inter-
Batter Berm Height
Domain Slope Azimuth Ramp
Rock Type Description Angle Width Bench
Name Direction (°) Angle
(°) (m) (m)
(°)
Saprolite
1 Oxide 0–360 0–360 65 30 10 8
material
Northwest,
west, south
2 Primary 288 52–223 70 55 11.4 24
hanging
wall
Southeast,
east,
3 Primary 218 223–52 70 55 11.4 24
northeast
wall

Figure 16-2: Schematic Showing Subika Open Pit Geotechnical Domains

Note: Figure prepared by Newmont, 2018.

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The primary source of ore for 2019 will be from stockpiles and Subika, which will produce
significant tonnes of high-grade ore. Three 9400 diggers will be located in Subika from May 2019
to the last quarter of 2019, when mining is planned to start in Awonsu Phase 3. Subika mining
will constitute stripping of large quantities of waste from pit Phase 4. Mining will be completed in
Subika by 2024, while Awonsu Phase 4 will be the last pit to be completed in 2029.
Newmont currently employs nine Sandvik Drilltech D45KS™ drill rigs for blasthole production
drilling and three Sandvik DR560™ rigs for pre-split drilling. Blastholes are drilled on average at
9.5 m vertical (i.e. 1.5 m as a sub drill) for grade control sampling in fresh rock. The pattern size
used is 4.0m × 4.5m pattern spacing for both ore and waste in all pits.
Figure 16-3 and Figure 16-4 show the final pit layout plans for Subika and Awonsu respectively.

16.2.4 Cut-off Grades

Cut-off grades increase as the distance of the deposit from the plant increases. Mining costs are
considered by pit-limit analysis when the pit is sized but are not considered in the breakeven cut-
off calculation because any material within the mined pit incurs a mining cost regardless of its
classification as either for plant treatment or as waste. Cut-off grades are shown in Table 16-3 at
a long-term gold price of US$1,200/oz (Mineral Reserves) for both oxide and primary
mineralization.

16.2.5 Equipment
All open pit equipment is Owner-operated and owned.
The prime mining fleet consists of Liebherr 9400™ front shovels, CAT785™ haul trucks and
Sandvik D45KS™ drills. Support equipment includes CAT dozers, graders, water trucks and
backhoes. With the exception of the Liebherr 9400™ shovels, Newmont has extensive operating
knowledge of the current equipment fleet. Truck, drill and support equipment fleet size is variable,
based on considerations such as the number and location of the pits in operation and haul
distances.
An equipment summary is provided in Table 16-4.

16.3 Underground

16.3.1 Geotechnical Considerations

The initial Subika underground mine geotechnical evaluation was based on the assumption of the
rock mass being strong with high rock mass quality (Q between 42.5 and 50; GSI between 70
and 85). The stress ratio was considered to be high at moderately shallow depth, using
information based on acoustic emission (AE) test results. Minimal major structures were assumed
in the Subika underground area.

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Figure 16-3: Final Pit Outline, Subika

Note: Figure prepared by Newmont, 2019

Figure 16-4: Final Pit Outline Awonsu

Note: Figure prepared by Newmont, 2019

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Table 16-3: Breakeven Cut-off Grades

Apensu
Material Apensu Main Awonsu Subika
South
Type (g/t Au) (g/t Au) (g/t Au)
(g/t Au)
Saprolite 0.58 0.56 0.59 0.60
Primary 0.80 0.80 0.79 0.74

Table 16-4: Equipment List

Peak
Item/Purpose Comment
Number
Compactor Wheeled 1
Water trucks Dust suppression, mine water, service 9
Grading Graders 5
Dozing Wheeled and tracked 15
Pumps Mine dewatering 28
Mine water
Boat, tractor pump 2
management
Trucks Light trucks, service 22
Excavator transport
2
system
Mobile crushing and
Cone crusher, jaw crusher, screening plant, radial stacker 7
screening units
Tractors 4
Trailers Low boys 5
Compressors 2
Light vehicles ATVs, light vehicles, 4WD vehicles 254
Backhoes and
Tracked, wheeled 8
excavators
Fusion machines 11
Lifts Scissor, man 7
Skid steers 3
Loaders 7
Lighting plants 41

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Peak
Item/Purpose Comment
Number
Forklifts, cranes, booms 37
Coaches and buses 5
Fuel, lube, oil 9
Pressure washers, welding machines, compressors, vehicle
General maintenance 114
lifts, chainsaws, traffic lights, trailers, tooling, wash bays
Generator sets 73
Cat992G, Cat 992K, CAT 785C, haul truck, Liebherr 9400,
Loading fleet 52
Terex O&K RH170B, Liebherr 994B
Powder magazine 1
Drills Sandvik D45K, Tracked Sandvik P1500, DR560, 18

In 2018, a re-evaluation of the geotechnical setting based on information obtained from additional
infill drilling, mapping in new mine development, and additional in situ stress measurement
programs was completed. Inclusion of mapping data into rock mass classification (Q and GSI)
resulted in revised values of 10–14 (Q) and 60–80 (GSI). RQD data indicated sub-vertical bands
of lower quality rock mass through the Subika deposit. These factors collectively indicated that
revised pillar dimensions and extraction ratios were required, and a fill mining method should be
used below 450 m below surface.
Two hollow inclusion (HI) stress cell measurements were conducted during September 2018, at
a depth of about 400 m below surface. The HI test results indicated that the assumptions based
on the AE testwork underestimated the stress environment on which the original stope design
was predicated, which would result in much higher induced pillar stress at shallower depths. In
addition, the assumed σ1 orientation was not perpendicular to the orebody but was oblique (about
40–45⁰) to the orebody strike. The σ1 orientation and high stress environment result in a potential
for shear failure of the in-stope pillars, which could result in premature pillar failures.
Two rock mass conditions are now anticipated for Subika underground:
 Relatively massive, strong and stiff rock mass conditions;
 More blocky, structured rock mass conditions.
Both rock masses can be subject to dynamic failure under high stress and low confinement
conditions. The blockier rock mass, however, may also deteriorate by unravelling, particularly if
stress shadowed (i.e. in the upper multi-lens part of the mine). Mining is this area will require
careful stope sequencing to ensure void and pillar stability.
The overall recommendations from the 2018 study were that mining methods that did not include
use of fill materials should not be conducted at depths below about 450 meters below surface
(mbs), and that a transition zone between mining methods was required in order to migrate mining
between the present open stope mine plan and deeper mining zones below about 450 mbs. The

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transition zone is planned between approximately 450 mbs and 675 mbs and is divided into two
areas:
 Upper transition zone: Between 450 and 535 mbs; stoping with pillars and
uncemented rockfill (RF); no hydraulic fracturing assumed;
 Lower transition zone: Between 535 and 675 mbs; stoping without pillars and use
of either cemented rockfill (CRF) or cemented pastefill (CPF), hydraulic fracturing
assumed from 600 mbs.
Stopes and pillars in the upper transition zone are designed to keep the σ1/UCS ratio at <0.5. As
such mine-induced seismicity should be manageable. Below about 600 mbs it is assumed that
the ground will be destressed using hydraulic fracturing (or some alternate destress technique)
ahead of mining. A sill pillar will be required between the lower and upper transition zone stopes
to control RF dilution from the upper transition stopes. All long-term infrastructure should be at
least 50 m away from the stope wall that is extracted first. The spiral decline should be at least
70 m away from the stope wall that is extracted first.
The mine plan assumes that stopes in the vicinity of the crown pillar will be mined before Phase 4
of the open pit is completed, and therefore the pit will mine down towards open voids. For safety
reasons, Newmont has removed high-risk stopes from the mine plan, and stopes where
unravelling could occur will be back-filled.
Geotechnical monitoring will be critical to safe and economic mining in the highly-stressed ground
at depth. Monitoring should include a combination of a mine-wide micro-seismic system,
conventional rock mass deformation and stress monitoring, and ground support monitoring.

16.3.2 Hydrogeological Considerations

The Ahafo South conceptual model has minimal communication between known shallow and
deep aquifers. Flow in the deep aquifers is controlled by fracture flow. The dominant recharge
and discharge sources are infiltration of precipitation and discharge to evapotranspiration and
streams. Wetlands and ephemeral streams are supported by seasonal precipitation, which
recharges the shallow aquifers and inundates low-lying areas.
Newmont contracted NewFields Mining and Energy Services (NewFields) to update the Ahafo
South Numerical ground water flow model with the latest information and provide predicted inflows
and impacts resulting from the Subika underground mining activities (NewFields, 2016).
Additional studies were performed by Golder Associates (Golder) in support of the underground
EIS.
The Ahafo South numerical model was revised and recalibrated with a concentration on refining
predictive capabilities in the Subika area. Hydrology studies were continually updated, to
determine the exact water quantities that may be experienced in the Subika deposit. The most
recent study, completed in 2016, predicts ground water inflows of approximately 45 L/s, and the
Subika dewatering system capacity is around 100 L/s.

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16.3.3 Initial Mining Phase

Underground development openings were mined at Subika between 2010 and 2016, as part of a
significant exploration program. Approximately 12,000 m of underground development was
completed by contractors African Underground Mining Services (AUMS).
The main components of the underground development program were:
 Four portal accesses. One to the north (also referred to as the Boxcut) that is the
main access to the underground and will remain so; and three portals within the
Subika open pit. The primary in-pit portal is to the south (Portal 3) and is located
near the top of the Subika Phase 3 open pit. The remaining two portals are in the
high wall of Phase 2 of the open pit (Portal 2) and in the highwall of Phase 1 of the
open pit (Portal 1);
 Three main ventilation raises to surface;
 Twin parallel declines were designed to extend from the North portal down to
approximately 870 RL. However, the second decline was started but not completed
and still requires about 1 km of development. The designed declines terminated at
two spiral declines which form a figure eight. Currently therefore, there are two spiral
declines branching from a single decline from the North portal;
 Central single spiral decline down to approximately 830 RL;
 Three operating levels on 960 RL, 920 RL and 880 RL;
 Exploration drive, accessed from 920 RL and ramping down to 860 RL;
 Four trial stopes on the 920 RL.
Figure 16-5 shows the areas mined during the trial period, and the infrastructure existing as at
end December 2018. Portals 1 and 2 were inaccessible at times as mining of the open pit
progresses. Portal 2 will be re-established for placement of ventilation fans.

16.3.4 Operations
Mining levels are based on the mining method to be used (Table 16-5, Figure 16-6 and
Figure 16-7). The current LOMP is for a truck haulage mine with all material to be hauled via the
North portal.
Mining operations in the SLOS zone will use existing infrastructure and spirals created on a 40 m
level spacing to access the stopes. These stopes are mined from the lowest stope level upward
in stope groups to create large open stopes. The ore on these levels is loaded directly from the
mining extraction level to trucks and hauled up the existing main decline to the surface, and placed
on stockpiles. Surface haulage equipment transports stockpiled material to the process plant.

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Figure 16-5: Mine Development at End 2018

Note: Figure prepared by Newmont, 2019. Note Boxcut Portal = North Portal; Portal 3 = South Portal.

Table 16-5: Mining Methods

Mining Method Interval Comment

Sub level open stope 40 m levels. Mined using a bottom-up
Above 840 RL
(SLOS) mining method.
Long-hole open stope 25 m levels. Mined using top-down
Above 750 RL
retreat (LHOSR) methods.
Long-hole retreat with Transitions from 25 m levels to 35 m levels.
750–665 RL
rockfill (LHSRF) Mined using bottom-up methods. Rock fill.
Single lens retreat 35 m levels. Mined using bottom-up
Below 665 RL
(SLR) methods. Paste fill.

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Figure 16-6: Central Mining Area Layout Schematic

Note: Figure prepared by Newmont, 2019.

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Figure 16-7: Schematic Showing Mining Methodologies

Note: Figure prepared by Newmont, 2019.

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To access the lower ore, below the 840 RL, a set of twin declines will be developed off the existing
main haulage decline. The twin declines will be developed as a figure eight or elongated spiral
configuration with one full rotation at 50 m intervals. The declines will be connected via a link
drive that will act as a ventilation, escapeway and haulage connection between the two declines.
Both declines will act as a primary ventilation circuit with fresh air. Additional ventilation will be
sourced through fresh air ventilation raises connected at the link drives and the foot wall drives
below the 750 RL. The fresh air raise will deliver refrigerated air from the surface refrigeration
system. The return air will be taken from the access drives above the 750 RL and from the ends
of the foot wall drives below the 750 RL, using return air raises connected to the main fans at the
surface and Portal 2.
Level accesses will be created off the decline at 25 m intervals to cross the ore zone from levels
800 to 700 RL. Below the 700 RL, the level interval will be increased to 35m.
Above the 750 RL, infrastructure such as substations, pump cuddies and sumps will be developed
on these access drives. On these levels the ore drives will be developed from the access drives
along the ore lenses identified as containing the mineralization for eventual stoping. The ore
drives will be driven to the extents of the defined mining corridor and stoping will retreat from the
end of the orebody towards the accesses. These stopes will be mined top-down. Stopes will be
mined from the end of the ore drives back to the level access. Pillars will be left between stopes
along the mine level for regional stability. Stopes will be mucked using remote mucking equipment
back to an ore pass created between levels. Trucks will be loaded from the level below the mining
extraction level via the material placed in the ore pass. The trucks will travel up the spiral declines
to the main haulage decline and exit and enter via the North portal.
Below the 725 RL, the access drive from the decline will connect to a footwall drive that will be
offset from the ore zone by 30 m. Stope access drives will be driven off the footwall drives to
develop the stopes in the mineralized zone. The footwall drive will be used for infrastructure to
connect ventilation returns, ore passes, substations, sumps and other infrastructure to support
the mining on the levels. The mining direction for stopes in the areas below the 750 RL is center-
out. Thus, stopes will be mined from a specified centralized location out to the extents of the
orebody. These stopes will be mined bottom-up.
For stopes between the 750 and 665 RL, pillars will be left between stopes along the mine level
for regional stability. Stopes will be mucked using conventional and remote mucking equipment
back to the foot wall drive. Trucks will be loaded from the level below the mining extraction level
via the material placed in the ore pass. When stope mining is completed, the stopes will be
backfilled with rockfill using truck tips and remote loading. Stopes must be backfilled before
adjacent stopes can be mined in the sequence.
For stopes below the 665 RL, no pillars will be left between stopes along the mine level for regional
stability. Stability will be provided by backfilling the stopes with paste fill after the stopes have
been mined. Stopes must be mined in sequence from a center-out, bottom-up approach with the
mine sequencing a critical factor in controlling the high stress potential of these stopes. Stopes
will be mucked using conventional and remote mucking equipment back to the footwall drive.
Trucks will be loaded from the level below the mining extraction level via the material placed in
the ore pass. When stope mining is completed, the stopes will be backfilled with paste fill from a

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surface plant facility. Paste fill will be directed to the stopes through fill pipes from the surface to
underground. Once a stope is filled and the backfill cured for the time required, the adjacent stope
can be mined.
A level layout schematic for the different mine methods is included as Figure 16-8.

16.3.5 Ventilation
Airflow demand was determined to ensure compliance with Ghanaian Mining Regulation 164(c)
requirement for the dilution of diesel exhaust emissions (DEE) to be applied to equipment “at the
point of use”.
Any ‘active production’ level in the Central corridor area was allocated a minimum of 20.0 m3/s at
a face that was 600 m away from the auxiliary ventilating fan. This necessitates the use of
1,200 mm diameter, 110 kW forcing fans with 1,400 mm diameter (or equivalent) ducting. These
fans have an open circuit capacity of 45 m3/s and with two fans required for each active producing
level assuming two headings are driven off each fan, the minimum airflow allocation for one active
level is 80 m3/s.
Development activities demand 56.0 m3/s at the ‘point of use’ if both loader and truck were used
at the same time. Under normal circumstances the ‘point-of-use’ air required is less than the
stated design, and would be 20 m3/s. The decline airflow will be achieved using twin 1,400 mm
diameter, 110 kW fans with 1,400 mm diameter (or equivalent) ducting. The fan has an open
circuit capacity of 45 m3/s; therefore 45 m3/s is allocated for decline development. Each “active”
upper level is allocated 60 m3/s, which is sufficient for dilution of DEE from one loader and one
truck.
The proposal is to provide 800 m3/s ± 5%, which will necessitate an integrated ventilation
management plan during times when the active number of levels exceeds eight. Primary airflow
will be reduced during low demand periods by either adjustment to the fan impeller blade pitch
setting, switching off fans or a combination of both.
The ventilation system for Subika includes refrigeration, primary and secondary fans and intake
and return ventilation raises. Subika underground currently has two primary exhaust systems
installed. The initial exhaust system comprised two 850 KW Howden™ fans supplying 400m 3/s
at 3.12 MPa fan inlet pressure.
The recently-commissioned system is based on the same combination of fans (two 850 KW) that
have similar costs to the already-installed system, bringing the total mine air supply to
approximately 800 m3/s.

16.3.6 Underground Infrastructure Facilities

Electrification of the operation is necessary to allow the application of high performance electric
hydraulic development and production drilling equipment, as well as other ancillary necessities
such as electric pumps for dewatering and ventilation fans and infrastructure.

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Figure 16-8: Example Level Layout Schematic by Mining Method

Note: Figure prepared by Newmont, 2019.

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The basis of design for the underground electrical system is to establish a ring main consisting of
two 120 mm2 11 kV feed cables run down separate service hole paths from the central fresh air
raise (FAR) and the central return air raise (RAR). The central FAR is established and currently
supports the underground mine. Three seven-inch service holes were drilled and lined with
schedule 40 steel pipes from the surface RAR to the 965 vent return drive. Two of these holes
are being used for the mine water intake and compressed air intake. The remaining hole will be
used to establish the second 11 kV feed to the underground mine.
Sumps are designed at regular intervals at every level access. Water from these sumps will be
collected and directed to a pump station via transfer pumps or a series of drainage holes.
The main pump station is equipped with mono-pumps and installed spare pumps. An agitated
surge tank is installed to keep any solids suspended and maintain a uniform feed to the pumps.
Automatic operation of the pump station is essential with the pumps starting and stopping
sequentially with increasing and decreasing water levels in the surge tank.
The water from underground is held in surface settling ponds to allow suspended solids to settle
out. The clarified water is re-used underground for drilling, washing down and dust suppression.
The mine requires refrigeration. In 2018, 7.5 MW R cooling systems were installed on the
ventilation intake raise. Another 7.5 MW R of cooling systems will be installed in 2019, resulting in
a total installed capacity of 15 MW R, which is sufficient to support the LOM operations in the
Central corridor.
A communications and telemetry system comprising composite fiber optic, very high frequency
(VHF) radio, and copper cable is being installed. All system components will provide two-way
communications data.
A mine control room is established and is manned 24 hours, seven days per week. The mine
control room is equipped with radio communications for surface and underground plus a phone
system connected to Newmont’s network and underground refuge chambers and fresh air bases.
PitRAM™ software is used for collection and reporting of production data.
There will be two service bays in the mine. A Minestat™ underground refueling station will be
incorporated with each service bay, providing underground refueling capability for mobile
equipment.

16.3.7 Cut-off Grades

The stope incremental cut-off grades for the Subika underground Mineral Reserves were
calculated to be 3.3 g/t Au for stopes and 1.0 g/t Au for development ore, assuming a gold price
of US$1,200/oz.
The cut-off grades used for Mineral Reserves are shown in Table 16-6. The stope incremental
cut-off is the cut-off used to determine the stope cut-offs for the Mineral Reserve estimate. Note
that the grades shown are averages for the LOM; cut-offs increase as the mine becomes deeper,
and backfill is introduced into the mining method.

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Table 16-6: Subika Underground Cut-off Grades

Cut-Off Type Cut-Off Grade

Process cut-off grade 0.9
Development incremental cut-off grade 1.0
Stoping incremental cut-off grade 3.3
Stoping development cut-off grade 3.9
Level development cut-off grade 4.4
Total breakeven cost head grade 4.6

16.3.8 Underground
A powder factor of 0.6 kg/t for the stopes was calculated. To improve the stope drilling and
blasting efficiency (increased burden and spacing), emulsion-based products are used.

16.3.9 Equipment
A semi-automated mining fleet will be required for the mining methods and rate of mining.
Table 16-7 summarizes equipment requirements for the LOMP.
Maintenance of all contractors mobile mining equipment will be carried out by the mining
contractor. Newmont will have a total of 26 light vehicles, and these will be maintained in the
workshop by the current operations maintenance team.

16.3.10 Production Schedule

Figure 16-9 and Figure 16-10 show the planned LOMP material movement and stockpile
movement, respectively.

16.4 QP Comments on “Item 16: Mining Methods”

Open pit operations at Ahafo South have provided production data that supports the current mine
designs. Trial mining activities and nearly two years of production data support the Subika
underground design and operating assumptions.
The LOM for operations assumes a stockpiling strategy. As a result of oxidation, mineralized
material stored long-term in stockpiles can have lower metallurgical recoveries than projected,
when that material is sent to the process plant.

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Table 16-7: Equipment Requirements

Item/Purpose Peak Number

Drills, jumbos and bolter 9
Raise borer 2
Load–haul–dump vehicle 5
Underground truck 6
Shotcrete sprayer 2
ANFO loader 2
Explosive loading 4
Metal removal plant 1
Light vehicle 53
Truck 7
Bus 4
Compressor
Wheel loader 5
Generator set 6
Crane 1
Scissor lift 1
Tele handler 1
Water truck 1
Roller 1
Grader 2
Fans 23
Pumps 28

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Figure 16-9: Production Schedule

Note: Figure prepared by Newmont, 2019. OP = open pit, UG = underground

Figure 16-10: LOM Stockpile Movement

Note: Figure prepared by Newmont, 2019.

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Since the effective date of the Ahafo South mine plan, Newmont has regularly performed, and will
continue to undertake as part of its normal course of business operations, reviews of the mine
plan and consideration of alternatives to and variations within the plan. Alternative scenarios and
reviews are based on ongoing or future mining considerations, evaluation of different potential
input factors and assumptions, and requests made of Project staff by Newmont Corporate.
Such iterations can include where appropriate, but are not limited to:
 Changes to Mineral Resource/Mineral Reserve estimation methodologies;
 Changes to dilution and reconciliation strategies;
 Changes to metal price assumptions;
 Changes in allocations of planned drilling, or drilling locations, that can be used to
support conversion of Mineral Resources to Mineral Reserves;
 Changes to deposit sequencing;
 Changes to production rates;
 Changes in mining equipment strategies;
 Alternate pit configurations, including laybacks or pit wall slope changes;
 Alternate underground mining assumptions, including changes to mining methods
and infrastructure layouts;
 Changes to geotechnical or hydrological assumptions, including changes in mine
sequencing due to consideration of mine stress regimes;
 Changes in short-term production plans;
 Mill throughput reviews and potential mill modifications;
 Process flowsheet modifications and potential recovery improvements;
 Stockpile throughput, allocations, grades, and planned depletion rates;
 Optimization of cash flows and review of different cash flow scenarios;
 Changes to allocations of capital expenditures to different years within the mine plan;
 Modifications to sustaining capital and operating cost assumptions;
 Changes to accounting and taxation assumptions.

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17.0 RECOVERY METHODS

17.1 Process Flow Sheet

The process plant started operations in 2006 and was designed to treat 7.5 Mt/a using a blend of
27:73 oxide to primary ore. Actual throughput for remaining LOM is projected to vary from 7.3–
10.6 Mt/a (904–1,336 t/hr), depending on the ore blend from the pits and underground operations.
A summary process flow sheet is included in Figure 17-1.

17.2 Plant Design

Design criteria are summarized in Table 17-1. The plant equipment is outlined in Table 17-2.

17.2.1 Line 1

17.2.1.1 Crushing Circuit

ROM ore is dumped from haul trucks or a front-end loader into a feed hopper which feeds a 54-
inch x 75-inch gyratory crusher. Primary crushed material is discharged into a surge hopper
directly underneath the crusher. From the surge hopper, the primary crushed material is
withdrawn to a reclaim stockpile via an apron feeder, conveyors and a transfer station. Where
oxide ore is available, the oxide ore is loaded onto the tail end of the SAG mill feed conveyer.
Primary ore from the reclaim stockpile is discharged to the SAG mill feed conveyor through apron
feeders. A regulated amount of lime from a lime silo is also added to the SAG mill feed conveyor.

17.2.1.2 Grinding Circuit

The grinding circuit consists of a single 10.36 m diameter (Ø) x 5.00 m effective grinding length
(EGL) SAG mill followed by a ball mill in closed circuit with hydrocyclones. The SAG mill and two
MP800™ pebble crushers are in a closed circuit. The SAG mill discharge is classified via a pebble
dewatering screen. The oversize from the screen is crushed via the pebble crushing circuit and
returned to the SAG mill.
The undersize from the pebble dewatering screen reports to the cyclone feed hopper and is
pumped to a cluster of classification cyclones. The cyclone underflow reports to the ball mill for
regrinding. The cyclone overflow reports to the pre-leach thickener via the trash screens.

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Figure 17-1: Ahafo South Process Flow Sheet

Note: Figure prepared by Newmont, 2018.

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Table 17-1: Design Criteria

Units Saprolite Primary

Plant capacity Mt/a 2.0 5.5
Head grade (design) Au g/t 1.99 2.46
Design gold recovery % 98 92
Crushing plant availability % 92 75
Mill/CIL availability % 92 92
Bond abrasion index (Ai) 0.341 0.225
Bond ball mill work index (BWi) kWh/t 9.8 19.4
Grind size (P80) μm 106 106
Installed mill power (SAG + ball) kW 26,000 26,000
Number of CIL tanks 10 10
Total CIL volume m3 3,250 3,250
Calculated CIL residence time h 24 24
Cyanide consumption kg/t 0.38 0.31
Quicklime consumption kg/t 2.21 0.81
Elution circuit type AARL AARL
Elution circuit size t 18.0 18.0
Frequency of elution strips/week 6.0 6.0

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Table 17-2: Plant Equipment

Number/Qty Details of Specification

1 54-inch x 74-inch gyratory crusher with 500 kW installed motor power
MMD 154™ series twin-shaft 4-tooth x 9 ring sizer with 2 x 150 kW installed motor
1
power
1 10.36 m x 5.0 m EGL SAG mill with 2 x 650 kW installed motor power
3.6-m x 7.3-m double deck pebble dewatering screen, top deck -33 mm x 66 mm,
1
bottom deck 10 mm x 36 mm panels
MP 800™ pebble crusher, one duty, one standby, each with 600 kW installed motor
2
power
1 7.31 m x 11.90 m EGL™ ball mill with 2 x 650 kW installed motor power
12 26” Krebs™ cyclones
3.6 m x 6.1 m cyclone overflow trash screen, one duty, one standby, screen aperture-
2
0.7 mm x 12 mm, 37 kW 4-pole motor, DF 504S exciters
1 42 m pre-leach thickener
10 3,250 m3 leach and adsorption tanks
10 Lightnin™ agitators, 783 gearbox, A310 shaft and impellers
1 1.8 m x 4.8 m carbon recovery screen, screen aperture; 1.1 mm x 12 mm
3.6 m x 6.1 m carbon safety screen, one duty, one standby, screen aperture 1.1 mm x
2
12 mm, 30 kW 4-pole electric motor, DF 501S exciters
2 42 m CCD thickeners
1 1.2 m x 3.6 m carbon dewatering screen, screen aperture 0.7 mm x 12 mm
1 18 t acid wash column
1 18 t elution column
2 6,000 amp electrowinning cells
1 TA 300D™ Barring furnace
1 900 kg/hr diesel-fired carbon regeneration kiln

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17.2.1.3 Wet Circuit

The undersize of the trash screens reports to the 42 m Ø pre-leach thickener with the thickener
overflow recycled to the milling circuit as process water. The pre-leach thickener underflow is
pumped to 10 CIL leach and adsorption tanks in series. Carbon is added to the CIL tanks and
flow countercurrent to the process slurry. The CIL tailings is discharge onto the carbon safety
screens before being pumped to the countercurrent decantation (CCD) circuit.
The CCD circuit consist of two 42 m Ø thickeners. The overflow from the thickeners is recycled
back to the process as process water while the underflow is pumped to the tailings disposal tank.
Tailings are discharged via a spigot system into the TSF.

17.2.1.4 Stripping and Dore Production

The loaded carbon is recovered via a carbon recovery screen and treated in the elution and
electrowinning circuit. Loaded carbon is acid washed with dilute hydrochloric acid in an 18 t acid
wash column prior to transfer into an elution column where it is presoaked in a cyanide/caustic
solution for 30 minutes to elute gold. The pregnant eluate is then rinsed from the carbon by as
many as 10 bed volumes of water heated to 130º C. The resultant pregnant solution is pumped
to electrowinning cells in which the gold is deposited on cathodes. The gold sludge on the
cathodes is washed, dried and smelted in a furnace to produce doré. Doré is shipped to
Switzerland to be refined to bullion at Valcambi.
A CCD circuit was commissioned in 2008 to recover cyanide from CIL tailings prior to discharge
to the TSF. Recovered cyanide is effectively re-used in the CIL circuit and weakly acid-dissociable
cyanide (CNWAD) levels in the plant tailings are effectively controlled to ensure the discharge limit
of 50 ppm CNWAD is not exceeded.
A gravity circuit that was initially included in the plant was decommissioned in 2010.
The International Cyanide Management Institute announced in July 2008 that the Ahafo Operation
was certified as fully compliant with the International Cyanide Code for the “Manufacture,
Transport, and Use of Cyanide in the Production of Gold”. Recertification has occurred on the
required three-yearly intervals, most recently in May 2018. The next certification will be required
in 2021.

17.2.2 Line 2
A mill expansion study was completed in 2017. The scalable mill expansion project will expand
the existing process plant by 3.2–3.5 Mt/a through the installation of a new primary gyratory
crusher, single-stage SAG mill, two additional leach tanks and two additional tailings disposal
pumps. The new comminution circuit, Line 2, will be independent of the existing Line 1 crushing
and grinding circuit. Line 2 is projected to be operable by the third quarter of 2019.

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17.2.2.1 Crushing Circuit

ROM ore will be dumped from haul trucks or a front-end loader into a gyratory crusher. Primary
crushed material will be discharged into a surge hopper directly underneath the crusher. From
the surge hopper, the primary crushed material will be withdrawn to a new primary stockpile via
an apron feeder, conveyors and a transfer station. Primary ore from the stockpile will be
discharged to the SAG mill feed conveyor through apron feeders.

17.2.2.2 Grinding Circuit, Single-Stage SAG Mill

The grinding circuit will consist of a single 34 ft SAG mill and two pebble crushers in a closed
circuit. The SAG mill discharge will be classified via a vibrating screen. The oversize from the
screen will be crushed via the pebble crushing circuit and returned to the SAG mill. The undersize
from the vibrating screen will report to the cyclone feed hopper and be pumped to a cluster of
classification cyclones. The cyclone underflow will report back to the SAG mill. The cyclone
overflow will report to the existing pre-leach thickener via the existing trash screens.
The milling configuration allows for the utilization of spare ball mill capacity in times when the feed
is mostly SAG-mill limiting. Spare ball mill capacity will be unlocked through the installation of a
pumping system from the single-stage SAG mill cyclone feed hopper to the existing Line 1 cyclone
feed hopper.

17.2.2.3 Wet Circuit

The undersize of the trash screens will report to the existing 42 m Ø pre-leach thickener with the
thickener overflow recycled to the milling circuit as process water. The pre-leach thickener
underflow will be pumped to CIL circuit. Carbon will be added to the CIL tanks and flow
countercurrent to the process slurry. The loaded carbon will be recovered via a carbon recovery
screen and treated in the existing elution and electrowinning circuit. The CIL tailings will discharge
onto the carbon safety screens before being pumped to the CCD thickener circuit.
The existing CCD circuit consist of two 42 m Ø thickeners. The overflow from the thickeners will
recycle back to the process as process water while the underflow will be pumped to the tailings
disposal tank. Tailings will be discharged via a spigot system into the existing TSF.

17.2.2.4 Stripping and Dore Production

The loaded carbon will be recovered via a carbon recovery screen and treated in the existing
elution and electrowinning circuit. The circuit as described in Section 17.2.1.4 remains
unchanged.

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17.3 Energy, Water, and Process Materials Requirements

17.3.1 Energy
Line 1 installations require approximately 30 MW of power to operate at full capacity. Line 2 is
expected to draw about 15 MW of power when it becomes operational in late 2019. The site has
an emergency backup generation plant consisting of seven 3.9 MW high-speed GE generators
which together are capable of producing about 27.3 MW of supplemental power.

17.3.2 Water
The main water sources for the process plant are from stored water in the mined out Apensu open
pit and the TSF. Potable water is sourced from boreholes.

17.3.3 Process Materials

Reagents and chemicals used in the processing plant are summarized in Table 17-3.

17.4 QP Comments on “Item 17: Recovery Methods”

The QP notes:
 The existing Ahafo South process plant uses conventional technology;
 Line 2 will also use conventional technology;
 The comminution and recovery processes are widely used in the industry with no
significant elements of technological innovation.

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Table 17-3: Process Materials

Item Comment
Used for pH modification. Lime is delivered to site in a bulk tanker and
Quicklime (CaO)
transferred into lime silo on site
Sodium cyanide Used for gold leaching. Cyanide is delivered as briquettes inside isotainers.
(NaCN) The cyanide in isotainers is sparged and the solution is stored in tanks
Used in the elution process to aid desorption of gold from loaded carbon, in
Sodium
conjunction with cyanide. Caustic is also used in the acid neutralization prior
hydroxide/caustic
to discharge into the cyanide containing slurry in the CCD feed tank. Caustic
(NaOH)
is delivered in 1 t bulk bags
Used for acid washing of loaded carbon to remove inorganic foulants such as
Hydrochloric acid
calcium carbonate. The acid is delivered to site in 1 m3 intermediate bulk
(HCl)
containers (IBCs)
Used for adsorption of gold in solution. Activated carbon is delivered to site in
Activated carbon
500 kg flexible IBCs
Borax; silica sand;
Chemicals used in the smelting operation in the gold room
soda ash; and niter
Steel balls are used as grinding media for grinding in the grinding circuit.
Comminution media Grinding media are delivered to site and stored in bunkers (125 mm balls for
SAG and 50/80 mm balls for the ball mill).

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18.0 PROJECT INFRASTRUCTURE

18.1 Introduction
Key infrastructure supporting the Ahafo South operations includes:
 Completed open pit mines at Apensu and Amoma; the Apensu open pit is being
used for water storage;
 Open pit mines at Awonsu and Subika;
 An underground mine at Subika;
 Five waste rock storage facilities (WRSFs); two active, and three inactive;
 Five stockpiles;
 Process plant;
 TSF;
 Water storage facility;
 Reverse osmosis water treatment facility;
 Sediment control structures;
 Residential camp;
 Mine accommodations village;
 Various support facilities including truck and vehicle shops, warehouse,
administration, contractor and temporary offices, fuel storage, core processing
facilities at the mine site, clinic and emergency response facilities, gatehouse, mess
facilities, change rooms, personnel training facilities, information technology (IT)
communications setups and towers, environmental monitoring facilities, water
treatment plants, sewage treatment plants, reagents shed, and plant nurseries.
The infrastructure layout for the Ahafo South operations is shown in Figure 18-1.

18.2 Road and Logistics

Access to the mining operations site is via asphalt-paved road from Accra to the Tepa Junction
via Kumasi in the direction of Sunyani on Route 6, a distance of approximately 300 km. From
Tepa Junction, an asphalt paved road leads west for 39 km through the villages of Tepa and
Akyerensua to Hwidiem. A paved road then leads northwest for 8 km to the village of Kenyasi.
Newmont constructed a bypass north of Kenyasi to facilitate supply deliveries, and route traffic
around the town for safety reasons.

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Figure 18-1: Infrastructure Layout Plan, Ahafo South

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The process plant site is located approximately 6.5 km north east of Kenyasi along the Kenyasi–
Ntotroso road. The operating mines are accessible on mine roads from the plant site. They are
also accessible as required through other back roads, but these are typically kept blocked in order
to limit public access to mining areas.

18.3 Port
The port-of-entry for the project is at Tema, which is 20 km from Accra. Goods are offloaded at
Tema and trucked the 300 km to the Project site.

18.4 Stockpiles
All stockpile inventories are calculated and reported monthly. Inventories are based on truck
counts of material added to and removed from stockpiles, multiplied by truck tonnage factors.
The stockpile grades are calculated from the grades assigned to each truckload in the mine
production accounting system. These grades are based on which mining polygon the truck was
loaded from, and the grade assigned to that polygon by ore control.
In order to confirm and tie-up the stockpile tonnage inventories, stockpiles are surveyed using the
following minimum frequency criteria:
 Inactive stockpiles are typically not surveyed;
 Crusher feed piles and the crushed ore stockpile are surveyed monthly;
 All other stockpiles are surveyed at least quarterly; and all piles are surveyed at the
end of the year. Monthly surveys are conducted for stockpiles with activity levels
deemed significant.
Truck tonnage factors consider the material type. Saprolite ore is less dense than primary ore,
so a haul truck loaded with saprolite contains less tonnes than a truckload of primary ore.
Production statistics based on the truck factors in use since the start of mine production have
reconciled well with the surveyed pit volumes mined.

18.5 Waste Rock Storage Facilities

Each of the mined-out and operating open pits has a WRSF:
 Apensu
 Subika East
 Subika West
 Awonsu
 Amoma

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The Apensu, Subika West and Amoma WRSFs are complete and will not have any additional
tonnages added to them. The LOMP assumes that only two of the WRSFs, at Subika East and
Awonsu, will be active for the remainder of the mine life:
 Subika East: overall approximate capacity of 104 Mt, mine plan will send 97 Mt of
waste to the facility;
 Awonsu: facility will be expanded to the northwest; overall approximate capacity of
154 Mt; mine plan will send 137 Mt of waste to the facility.
Facility locations are shown in Figure 18-2.
WRSFs are sited on hillsides as bank fills or within shallow drainages as complete valley fills and
were sited 60 m to 100 m from pit crests. Lift heights are typically planned at 16–20 m and the
overall slopes are designed at 3:1.
All WRSFs are monitored by engineers on a weekly basis. Newmont is evaluating the potential
use of some waste materials for pit backfill.

18.6 Tailings Storage Facilities

The current TSF is constructed in the Subri stream drainage. The northern upstream
embankment serves as a downstream dam for a water storage facility. The TSF is operated as
a zero-discharge facility; all water is returned to the process facility for reuse. The main
embankment has been constructed in stages.
The TSF is monitored monthly with both a network of piezometers to determine phreatic water
levels in the embankments as well as via settlement pins. These data are tabulated in a report
that is reviewed by both Newmont and Knight Piésold, a third-party consultant. Reporting follows
the TSF management plan which stipulates minimum monitoring requirements and triggers that
require a further response.
The 100 Mt storage capacity of the existing TSF will be filled by the end of the third quarter of
2019. Newmont has evaluated a number of storage capacities for an expanded TSF. Although
the current process plant throughput profile is well below 240 Mt over LOM, the incremental cost
to provide a 240 Mt footprint compared to 200 Mt is insignificant and Newmont has accepted
240 Mt as the final capacity. The 240 Mt design capacity accommodates the deposition
requirements for the mill expansion and Subika underground projects, and provides an additional
23 Mt for potential future mining operations. Newmont evaluated a number of expansion design
options, but has selected a hybrid option whereby the TSF would be raised vertically and extended
horizontally.

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Figure 18-2: Pit Layout and Waste Rock Storage Facility Location Plan, Ahafo
South

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This would consist of:

 Staying within the mining area boundary by raising the existing TSF vertically beyond
the 100 Mt to accommodate an additional 90 Mt of tailings;
 Developing a second tailings cell, partially constructed within the footprint of the
existing water storage facility, to store a further 50 Mt.
An environmental impact statement was prepared and submitted to the relevant Ghanaian
authorities.

18.7 Built Infrastructure

18.7.1 Accommodations
Two types of accommodation are available. Camp A, originally the construction camp at the plant
site, hosts about 300 people, consisting of site visitors and long-term employees. Newmont
constructed the Mensah Kumtah Village (MKV), near Kenyasi, for expatriate families and
Ghanaian management staff.
Workers that do not live in company housing receive a housing allowance.

18.7.2 Mine Facilities

The main mine facilities include the process plant, power plant (see Section 18.1.8), crusher,
borrow pits, fuel tank farm, water treatment facilities, mine maintenance workshop, mine service
center, administration buildings, the accommodations camp, sediment ponds, the first phase of
the TSF and the Apensu pit water storage facility.
The LOMP will require additional infrastructure. This includes:
 Phase 2 of the TSF;
 Additional water treatment capability;
 The Apensu 2 WRSF.

18.8 Power and Electrical

Newmont Africa in Ghana receives power purchased from the Volta River Authority’s (VRA)
electricity generation thermal facilities near the Ghanaian coast and at the Akosombo Dam
hydroelectric facility.
Power is delivered to Ahafo South via GRIDCO’s 161 kV transmission line into the Ahafo
(Kenyasi) Substation where voltage is dropped from 161 kV down to 11 kV for use at the Ahafo
complex. GRIDCO currently has three 161 kV lines that deliver power to the Kenyasi Substation
at Ahafo; two from Kumasi, and one from Kumasi via Techiman/Sunyani. Each transmission line
is capable of delivering power sufficient to satisfy Ahafo’s current peak startup power demand of

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about 35 MW, as the capacity of each of these lines is approximately 120 MW. The two direct
lines from Kumasi do not have additional power demand other than Newmont’s load at the
Kenyasi substation. The third line (from Kumasi via Sunyani) supplies Techiman, then Sunyani,
on its route to service Kenyasi substation.
Newmont has also installed emergency power generating capacity, consisting of 27 MW at Ahafo
South to meet any power challenges.

18.9 Water Management

Water management infrastructure at Ahafo South for mine operations include the following:
 Surface water management infrastructure: diversion channels around the pits and
collection systems downstream of the WRSFs and stockpiles;
 Pit runoff management infrastructure: in-pit and ex-pit sumps with a system
centrifugal pumps and high-density polyethylene (HDPE) pipelines dewatering to
holding and transfer pods;
 Groundwater management infrastructure: hybrid system of ex-pit dewatering wells
and installations of arrays of horizontal drain holes.

18.10 Water Supply

The Project area is located in the upper part of the Tano River basin and is drained by a number
of seasonal streams that are tributary to the Tano River. The Tano River is a vital water body for
the region as a source of drinking water for several towns and villages within and around the
Project area. Two streams, the Subri and the Awonsu, drain from the Project to the Tano River.
Process water is sourced from a cross-valley embankment dam upstream from the TSF, which
impounds water from a 28 km2 area of the Subri stream watershed. Surface run-off water is
diverted by means of channels into five environmental control dams, or to natural drainage down
gradient from disturbed areas. Surface water quality, both up- and down-stream of mining
activities is monitored on a monthly basis.
Most of the watercourses are used as a source of potable water by settlements located along
their banks. Potable water for the mining operations and camps is produced from bore fields.
Water supplies are sufficient for current and planned development needs. The Ahafo mine
operates with an excess water balance resulting from the accumulation of seasonal rainfall
contacting the mining operation. The excess is stored in the mined-out Apensu pit, which has an
area of 350,000 m2. The LOMP storage requirements for excess impacted water estimated at
approximately 1.2 Mm3. The maximum allowable pit lake elevation is 1149.5 mRL which
corresponds to a maximum allowable storage capacity of about 19.5 Mm3.
A reverse osmosis (RO) water treatment plant (WTP) with a 50 L/s (feed) capacity was installed
in January 2018. A second RO WTP is planned for 2022 and will have an additional 50 L/s (feed)
capacity.

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Currently the site-wide water model is maintained by Piteau Associates, a third-party consultant.

18.11 QP Comments on “Item 18: Project Infrastructure”

Major infrastructure required for the Ahafo South open pit and underground operations has been
constructed and is operational. The existing TSF does not have sufficient capacity for LOM
requirements, and an expanded TSF will be required to be permitted to support the LOMP.
An allocation of sustaining capital has been included in the cost estimate in Section 21 to fund
the TSF expansion.

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19.0 MARKET STUDIES AND CONTRACTS

19.1 Market Studies

Newmont has an operative refining agreement with MKS (Switzerland) S.A, a Swiss refining
house, for refining of doré produced from the Ahafo South operations.
Newmont’s bullion is sold on the spot market, by marketing experts retained in-house by
Newmont. The terms contained within the sales contracts are typical and consistent with standard
industry practice and are similar to contracts for the supply of doré elsewhere in the world.

19.2 Commodity Price Projections

Metal price assumptions are provided by Newmont management and are based on three-year
trailing average prices applicable at the time the Mineral Reserves are estimated.
Metal pricing assumptions used for the 31 December 2018 Mineral Resource and Mineral
Reserve estimates are as follows:
 Mineral Reserves: US$1,200/oz Au;
 Mineral Resources: US$1,400/oz Au.

19.3 Contracts
There are 21 major contracts currently in place to support the Ahafo South operations, in addition
to the refining contracts discussed in Section 19.1. These contracts cover items such as bulk
commodities, operational and technical services, mining and process equipment, and
administrative support services. Contracts are negotiated and renewed as needed. Contract
terms are typical of similar contracts in Ghana.

19.4 QP Comments on “Item 19: Market Studies and Contracts”

The QP notes:
 The terms contained within the refining agreement and sales contracts for Ahafo
South are typical of and consistent with standard industry practice, and are similar
to contracts for the supply of doré elsewhere in the world;
 Metal prices are set by Newmont management and are appropriate to the commodity
and mine life projections;
 Contracts other than the refining contracts are typical of similar contracts in Ghana.
These contracts are negotiated and renewed as needed.
The QP is of the opinion that the marketing and commodity price information is suitable to be
used in cashflow evaluations supporting Mineral Reserve estimates.

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Silver is not estimated in the Mineral Resources or Mineral Reserves. Mine production has shown
that a silver credit is payable in the doré. If such silver credits are payable in the future, there is
a minor economic upside potential from the silver content in the doré.

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20.0 ENVIRONMENTAL STUDIES, PERMITTING, AND

SOCIAL OR COMMUNITY IMPACT

20.1 Introduction
The Ahafo South operations are currently permitted open pit mining operations at Subika, Apensu,
Awonsu, and Amoma pits. An operating permit is in place for the Subika underground mine;
however, no permits are currently granted for potential development of Apensu Deeps.
An Environmental Impact Statement (EIS) for the Project was submitted to the Ghana
Environmental Protection Agency (EPA) in September 2004 and subsequently Environmental
Permit (Number EPA/EIA/143) was approved in April 2005 (Environmental Permit (Number
EPA/EIA/143).
An Environmental Certificate following the submittal of an Environmental Management Plan
(EMP) was approved in February 2008, authorizing Newmont Ghana Gold Limited to continue
the Mining Project within the Project South Concessions, in the Asutifi District of the Brong Ahafo
Region for a three-year period (February 19, 2008 to February 18, 2011). An updated
Environmental Management Plan (EMP) was submitted to the EPA in February 2011 upon which
the company was re-certified for the period October 31, 2011 to October 30, 2014.
The most recent certificate was applied for in September 2017, to cover the period 2017–2020.
Newmont is currently awaiting the issuance of the EMP certificate.

20.2 Baseline Studies

Completed baseline studies have included the following discipline areas:
 Climate;
 Air quality;
 Hydrology and surface water quality;
 Hydrogeology;
 Flora;
 Fauna;
 Soils, agriculture and land use;
 Socioeconomic environment.

20.3 Environmental Considerations/Monitoring Programs

Newmont employs an environmental department located on site. The LOMP estimated planned
disturbance area for the open pits, WRSFs, TSFs, roads and miscellaneous footprints were

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estimated to impact about 2,200 ha. Environmental monitoring programs are summarized in
Table 20-1.

20.4 Closure Plan

In 2003, Newmont developed a conceptual closure and reclamation plan for the Ahafo South Mine
Project Environmental Impact Statement (EIS) (SGS 2004) in compliance with requirements of
the Environmental Protection Agency (EPA). The EIS was approved by the EPA in April 2005.
The conceptual closure and reclamation plan which was presented in the EIS was consistent with
requirements of the International Finance Corporation (IFC) guidelines which were in-place at the
time of plan development. Reclamation objectives included:
 Returning as much of the affected area as possible to conditions that existed before
mine development;
 Meeting the terms of the mining agreement.
This plan was subsequently finalized and approved by the EPA for implementation.
Newmont is required by legislation to implement a land rehabilitation program and prepare a
decommissioning plan as part of its overall environmental management strategy. The plan
incorporated consideration of the following items:
 Areas of disturbance and specific rehabilitation requirements (number of, and
removal of road culverts, bridges, etc.; depth of topsoil placement, pond closure,
etc.);
 Kilometers of roads and what will be done with the roads at closure (rehabilitation or
turnover to local government infrastructure);
 The number and size of structures and facilities such as laydown yards, etc. as well
as what will be demolished and reclaimed or turned over to the local government;
 The number and size of WRSFs, pits and/or stockpiles, ponds, and TSF as well as
closure procedures;
 Post-closure monitoring.
In March 2005, Newmont contracted MFG, Inc. to prepare a Draft Reclamation Plan to begin the
process of formalizing the conceptual plan presented in the EIS. The Draft Reclamation Plan,
subsequently approved for implementation, included descriptions of mining and ore processing
operations, WRSFs, TSF, water-related structures, and the reclamation and monitoring plans for
these facilities.
Newmont’s broad reclamation objectives for Ahafo South are to ensure that the site is left in a
condition that is safe, stable, and minimizes long-term environmental impact; is without any future
liability to the community, and future land use restrictions are minimized.

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Table 20-1: Ahafo South Monitoring Programs

Area Comment
An air quality monitoring program is in place to evaluate respirable dust (PM10) and total
suspended particulates (TSP). In addition, ambient NOx and SOx are monitored at two locations
Air quality
on the mine land take boundary. Characterization monitoring of point source emissions is also
conducted annually
Generally, surface water is diverted around areas of disturbance to avoid impacting water quality.
Surface water flows in the Subri sub-basin are impacted due to the presence of the TSF and water
storage facility. The location of these facilities requires that the flows from the Subri drainage
Surface
above these adjacent structures be diverted into the Awonsu drainage. Surface water that runs
water
off disturbed areas after rain events is controlled and directed through environmental control dams
to minimize sediment loading to local streams and rivers. Surface water quality, both up- and
down-stream of mining activities is regularly monitored.
Groundwater monitoring wells are installed up- and down- gradient of all major existing facilities
Groundwater
including the TSF and the currently-operating pits and WRSFs, and are regularly sampled.
A reclamation soil stripping program was developed and coordinated through the mining,
operation services and environmental departments. Topsoil and portions of sub soils still suitable
Soil as a growth medium are stripped from all areas just prior to mining disturbance. These soil
reclamation resources are stockpiled, surveyed and measured for location and quantity, and protected from
erosion by reseeding the surface. Periodic audits of the reclamation soil resources are made and
checked against requirements to verify that adequate soil resources are being stockpiled.
Pit lakes may develop passively and partially fill some or all pits over time. It is currently predicted
that post closure, the pits may overflow after approximately seven years for the Subika pit and
approximately 90 years for the Apensu pit. However, as a more detailed understanding is
developed, additional studies will be conducted to refine pit lake water quantities. Current plans
have storm-water runoff from the reclaimed tailing storage facility routed through the reclamation
Pit lakes spillway and outfall into the Apensu open pit, making lake development more likely in this pit.
Available information suggests an absence of potentially acid-generating (PAG) material within the
planned pit boundaries, except minor amounts of sulfide ore. It is assumed that any resulting pit
lakes will not require water treatment. Studies are planned to confirm this assumption in the pits
where lake development is likely. The merits of rapid, active flooding of individual open pits to
promote reducing conditions for pit wall rock will also be reviewed in future studies.
The results of testing completed to date continue to support the conclusion of non-acid-generating
conditions present in waste rock materials from the open pits due to the high percentage of
PAG carbonate minerals present in lithologies. Column tests were constructed on site from January
2008 to study the effluent from long-term leaching of the waste rock. Quality of effluent from the
columns will be monitored throughout the operations life.

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The closure plan incorporates the following:

 The pits will not be backfilled except where it is possible to fill select zones during
mining. Post-production backfilling is not included in the closure plan;
 WRSFs will be re-contoured and re-vegetated during operations, as dump faces are
finalized, to improve aesthetics and control sedimentation. Final WRSF revegetation
and water management structures will be completed in the year following pit closure;
 The process plant will be removed and either sold or salvaged;
 Cyanide contaminated facilities will be decontaminated prior to disposal;
 Contaminated soil will be treated before disposal at WRSFs;
 The TSF area will be capped with 0.7 m of saprolite and 0.3 m of topsoil. The surface
will be contoured as required to meet long-term drainage requirements, and
revegetated;
 Water control structures will be designed to meet long-term sediment detention
requirement;
 All areas except the pits will be returned to productive use.
Under EPA requirements, Newmont is required to provide updates to the reclamation plan as
mine development proceeds. These updates are to include revisions or modifications to the
closure and reclamation plan necessary to address actual site conditions. The 2015 Reclamation
and Closure Plan is currently being updated for submission to the EPA. The updated Reclamation
and Closure Plan will include the plan for Subika underground closure.
A Reclamation Security Agreement (RSA) between the EPA and Newmont was signed in April
2008 to outline the various objectives and targets as guidance for the plan.
In 2018, the LOM closure costs were estimated at US$129 M including allocation of costs for
rehabilitation of WRSFs, the TSF and Subika underground. As part of the reclamation and security
agreement (environmental bond) with the Ghanaian Government, Newmont has provided a
cumulative (project to date) cash deposit of US$11 M based on the current disturbance in 2018.
The EPA requires a Reclamation Bond to be posted as part of any mine permitting process. The
bond is required to provide financial surety against non-compliance under the approved Closure
and Reclamation Plan and is required within six months after the start of operations. The total
2018 liability for Ahafo was estimated as US$91 M.

20.5 Permitting

20.5.1 Open Pit Operations

Newmont holds the following permits, which allow mining activity to take place:
 Mining Leases (30 years, expiring by 2031);

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 Mining Permit (annual renewal) from the Inspectorate Division of the Minerals
Commission;
 Environmental Permit for constructional purposes.
The Environmental Certificate from the EPA has a three-year renewal period. The most recent
certificate was applied for in September 2017, to cover the period 2017–2020. Review comments
from the regulator were addressed and the document re-submitted. Payment for the EMP
certificate was accepted by the EPA. Newmont is currently awaiting the issuance of the EMP
certificate.
With the receipt of the EMP Certificate, Newmont will hold all appropriate permits to allow
continued open pit mining activities in the Ahafo South operations area to proceed under the
appropriate governing regulations.
Current environmental permits include:
 Environmental Protection Agency, Ahafo Environmental Certificate (Environment
Management Plan) (2014–2017); renewal in process;
 Ghana Environmental Protection Agency, Subika Underground Exploration Permit
(2014–2018);
 Water Resource Commission, Water Use Permit, Subika Pit Dewatering (2013–
2018). A renewal application has been filed;
 Water Resource Commission, Pit Dewatering Permit (2014–2019).
 Water Resource Commission, Water Use Permit, Tano River Abstraction Permit
(2014–2016); no renewals requested as of December 2018.
 Water Resource Commission, Water Use Permit, Subri Stream (WSF) Raw Water
Abstraction Permit (2014–2019).
Permits granted for the Ahafo South operations include an abstraction permit for groundwater
abstracted from a borehole system for potable water, a permit for abstraction or discharging of
surface water from the water storage facility, a permit for the abstraction of water from the Tano
river during high flow conditions providing supplemental water to the water storage facility. An
abstraction permit for dewatering the Subika, Apensu, and Awonsu pits is also in place. Newmont
decided to discontinue the renewal of the permit to abstract water from the Tano River with effect
from December 2018 and instead, will re-use contact water for the operations.
Newmont pays a fee to the Ghana Water Resources Commission for water abstracted in
accordance with the terms and conditions outlined in each permit.

20.5.2 Underground Operations

Exploration on the Subika underground project started in 2010 with drilling and drifting under an
exploration permit. Test stoping under the exploration permit occurred from 2011 to 2013 to test
geotechnical and hydrogeological properties of the rock. This included four test stopes and
additional drifting. Exploration drilling occurred until August 17, 2016 when the exploration permit

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expired. The mine was put on care and maintenance until the operating permit was received in
March 2017. Mine activities started in May 2017, and commercial production was achieved in
November 2018.
The EPA EIS permit for the Subika underground was received from the EPA in March 2017 with
an expiry date of September 2018. In Ghana, every permit issued following submittal of an EIS
is good for 18 months, during which time an EMP is expected to be submitted to the EPA as part
of the EIS permit conditions to allow operations under the EIS permit. In accordance with
Environmental Protection Agency Legislative Instrument (L.I. 1652), the EMP for the Subika
underground was submitted to the EPA in March 2018. The EMP was reviewed by the EPA and
review comments were addressed by Newmont. The EMP invoice issued by the government for
the EMP certificate was paid. Newmont is now awaiting the issuance of the EMP certificate for
the Subika underground project. The permit is maintained by submitting an updated EMP every
three years or when new mine facilities are developed that would have an impact on either the
environment or social conditions in the area.

20.5.3 Tailings Storage Facility

The EPA commissioned an independent assessment of the environment and social impact of the
TSF Expansion project on Dokyikrom, a community situated about 1 km to the northwest of the
proposed expanded TSF. The initial impact assessment concluded minimal environment and
social impact of the project; however, the EPA, in response to public comment, requested the
additional assessment.

20.5.4 Forest Reserves

Areas of productive Forest Reserves have been designated in the vicinity of the Ahafo South
operations area. These areas include the Bosumkese Forest Reserve and the Amoma
Shelterbelt Forest Reserve. Potential impacts on the Forest Reserves include the induced
creation of access into the reserves via new roads, power line access routes, and general
proximity of the mine to reserve areas.
Newmont adopted a three-part research program to assess impacts on the forests, including:
 Conduct biodiversity assessment of proposed disturbance areas using
local/international experts;
 Areas determined to be critical natural habitat will be evaluated relative to the
International Finance Corporation (IFC) Safeguard Policy on Natural Habitats
(OP 4.04) to avoid significant conversion or degradation of any natural or critical
habitat;
 Offset or mitigation will be used by Newmont to minimize adverse effects on the
area’s biodiversity.

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20.6 Considerations of Social and Community Impacts

The Ahafo South operations lie within the Asutifi district of the Brong Ahafo Region which is
located in western central Ghana. The Asutifi district has a total land area of 1,500 km 2, and a
population of about 85,000. The principal towns are Kenyasi 1, Kenyasi 2, Ntotroso and Hwidiem.
The Project area is primarily rural with the population within the larger towns being less than
10,000 residents.
Prior to mine development, Newmont completed a cadastral survey of all farm fields in the Ahafo
South area, and a related crop survey of all farm fields identified by the cadastral survey. Crop
compensation teams recorded all crops by area and/or number in each field in the presence of
the farmer and the chief farmer of the area. A Government-certified valuation firm was retained
to value all existing structures in the Ahafo South area. The valuation firm recorded, wherever
possible in the presence of the structure owner, structure construction details, occupancy, fittings,
dimensions, age, condition, and ownership. The Ghana Land Valuation Board (LVB), a
government agency, participated in the crop assessment process and structure survey–valuation
process as prescribed by the Minerals and Mining Act 2006 to determine the final valuation for
compensation.
Newmont understands and accepts the importance of proactive community relations as an
overriding principle in its day-to-day operations as well as future development planning. The
company therefore structures its community relations activities to consider the concerns of the
local people and endeavors to communicate and demonstrate its commitment in terms that can
be best appreciated and understood to maintain the social license to operate.
Newmont developed a public consultation and disclosure plan (PCDP) for the Ahafo South
operations using guidelines and policies developed by the IFC. The IFC requires public
consultation as an on-going process to be conducted during the construction and operational
phases of any project.
Targeted consultations/engagements with some of the following stakeholders may be initiated in
support of permitting of the Subika underground operations and the proposed expanded TSF:
 Communities
 Traditional authorities
 Religious leaders
 Community Consultative Committee
 Ahafo Youth leaders
 Regulatory and government institutions
 EPA Head Office, Accra;
 EPA Regional Office, Sunyani;
 Minerals Commission Head Office, Accra;

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 IDMC Head Office, Accra;

 IDMC, Kumasi;
 WRC, Accra;
 Tano Basin WRC Office, Sunyani;
 Asutifi North District Assembly.

20.7 QP Comments on “Item 20: Environmental Studies,

Permitting, and Social or Community Impacts”
The QP was provided with information from Newmont legal and permitting staff that supports that
the Ahafo South operations hold the necessary permits to operate or have applied for renewals
of the necessary permits, that social and community impacts are addressed for LOM
requirements, and that all needed reclamation and closure plans and sureties are in place. The
Subika underground mine was fully permitted in 2017. Newmont is in the process of permitting a
TSF expansion, required to support the LOMP.

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21.0 CAPITAL AND OPERATING COSTS

21.1 Capital Cost Estimates

Sustaining capital cost estimates are based on actual 2018 mine data, BP19, and budgetary
figures and quotes provided by suppliers. The estimates include funding for infrastructure, mobile
equipment, development and permitting, and miscellaneous costs. Infrastructure requirements
were incorporated into the estimates as needed. Sustaining capital costs reflect current price
trends.
The sustaining estimate is summarized in Table 21-1, and totals about US$377.4 M. Key
elements within the sustaining cost estimates include the following
 Open pit mining: Equipment replacement and refurbishment; buffer zone land
access acquisition to support pit expansions; pit laybacks; geotechnical core drilling;
hydrogeological considerations (pumping wells, instrumentation replacement and
installation, depressurization drilling, drainage channels and sedimentation
controls); WRSF expansions; general sustaining (water treatment and dewatering
infrastructure, crushing plant, implementation of fatigue monitoring initiative, fusion
master, light plants, tools and equipment;
 Underground mining: Equipment replacement and refurbishment; lateral and raise
development; development drilling; raise boring and service hole drilling;
refrigeration upgrades, water management and monitoring; ventilation; electrical;
materials transport; underground workshops;
 TSF: TSF expansion; TSF raises; safety and hazard reviews;
 Process: Equipment and piping replacement and refurbishment; acquisition of
additional laboratory equipment (CNWAD analyzer, AAS instrument, pulverizers).
An additional US$129.6 M is allocated from operating costs to sustaining capital, consisting of
asset componentization. The re-assignments included costs associated with equipment such as
dozers, haul trucks, loaders, drills, and shovels.
The combined sustaining capital estimate and re-allocated sustaining capital costs result in an
overall sustaining capital cost of US$407 M (refer to Table 21-1).
An allocation of US$41.2 M was made to development capital for the AME project. Items in this
estimate include provision for civil and earthworks, electrical, piping, engineering, procurement
and construction management (EPCM) and Owner’s costs, consumables and spares.
Closure costs are estimated at US$129.6 M.

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Table 21-1: Sustaining Capital Estimate

Capital Cost
Area Comment Estimate
(US$ M)
Mining equipment replacement
16.7
capital
Pit expansion sustaining capital 14.6
Open Pit Water treatment plant capital 10.8
Infill drilling - sustaining —
General mine sustaining 16.2
Subtotal 58.4
TSF expansion 97.1
Process general sustaining capital 17.5
Process
Other general sustaining capital (15.1)
Subtotal 99.6
General 219.4
Underground
Subtotal 219.4
Total sustaining capital 377.4
Sustaining capital allocations from Asset componentization 129.6
operating costs Subtotal 129.6
Total sustaining and reallocations 407
Note: totals may not sum due to rounding.

21.2 Operating Cost Estimates

Operating costs were estimated by Newmont personnel and are based on BP19. Labor cost
estimation is based on Newmont’s 2018 salary scale and fringe benefits in force. Consumables
are based on 2018 costs and contracts.
Mining operating costs are summarized in Table 21-2, and total about US$1,506.2 M.
The open pit costs include provision for Awonsu Phase 4, which mines the west wall of the pit,
and proposed staffing changes such as inclusion of road maintenance and drill offsider personnel.
Underground operating costs include allocations for geotechnical parameters (e.g. additional
crown cable bolting of stopes below the Phase 4 pit based on recent geotechnical guidance),
maintenance, metal removal plant management, and unitized TSF costs.

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Table 21-2: Mining Operating Cost Estimate

Open Pit Underground Total

Area (US$ M) (US$ M) (US$ M)
Oil 245.4 151.4 396.8
Power — 123.9 123.9
General 368.1 240.9 609
Manpower 204.5 172.1 376.6
Total mine operating costs 817.9 688.3 1,506.2
Note: totals may not sum due to rounding.

Process and general and administrative (G&A) costs are provided in Table 21-3.
Costs include provision for treatment of Awonsu Phase 4 material, additional personnel for the
Subika underground operation, and changes to personnel organizational charts.
The overall operating cost estimate is summarized in Table 21-4, and totals approximately
US$3,397.2 M over the LOMP.
The operating costs in the LOMP on a US$/t basis can be broken out as:
 Open pit mining: US$2.50/t mined;
 Underground mining: US$92/t mined;
 Processing + G&A: US$17.24/t processed.

21.3 QP Comments on “Item 21: Capital and Operating Costs”

LOMP sustaining capital consists of US$377.4 M, with a further US$129.6 M allocated from
operating costs to sustaining capital, for an overall estimate of US$407 M. An allocation of
US$41 M was made to development capital for the AME project. Closure costs are estimated at
US$129.6 M.
Operating costs total approximately US$3,397.2 M over the LOMP. Using the LOMP as a basis,
the operating costs on a US$/t basis equate to: open pit mining: US$2.50/t mined; underground
mining: US$92/t mined; and processing + G&A: US$17.24/t processed.

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Table 21-3: Process and G&A Operating Cost Estimate

Operating Cost Estimate

Area Item
(US$ M)
Oil 45.7
Power 609.8
Process General 534.5
Manpower 165.1
Subtotal 1,355
Oil 16.1
Power 26.8
G&A General 225.1
Manpower 268
Subtotal 536
Total process and G&A operating costs 1,891
Note: totals may not sum due to rounding.

Table 21-4: Operating Cost Estimate

Operating Cost
Cost Area
(US$ M)
Open pit 817.9
Underground 688.3
Process 1,355
G&A 536
Total 3,397.2
Note: totals may not sum due to rounding.

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22.0 ECONOMIC ANALYSIS

22.1 Cashflow Analysis

Newmont is using the provision for producing issuers, whereby producing issuers may exclude
the information required under Item 22 for technical reports on properties currently in production
and where no material production expansion is planned.
Mineral Reserve declaration for Ahafo South is supported by a positive cashflow for each mining
area.

22.2 Comments on Section 22

An economic analysis was performed in support of estimation of the Ahafo South Mineral
Reserves; this indicated a positive cashflow for each mining area using the assumptions detailed
in this Report.

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23.0 ADJACENT PROPERTIES

This section is not relevant to this Report, as there are no adjacent properties that must be
considered for the Project presented.

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24.0 OTHER RELEVANT DATA AND INFORMATION

This section is not relevant to this Report as there is no other relevant data or information on
Ahafo South that has not been summarized and presented in the Report.

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25.0 INTERPRETATION AND CONCLUSIONS

25.1 Introduction
The QP notes the following interpretations and conclusions, based on the review of data available
for this Report:

25.2 Mineral Tenure, Surface Rights, Water Rights, Royalties and

Agreements
 Information from legal experts and Newmont’s in-house experts support that the
mining tenure held is valid and sufficient to support a declaration of Mineral
Resources and Mineral Reserves;
 Newmont holds sufficient surface rights to allow mining activities at Ahafo South;
Additional negotiations and permits are required for the expanded TSF;
 Newmont holds permits to allow abstraction of groundwater, surface water, and
water from the Tano River;
 Royalties are payable to the Government of Ghana over the entire Project area, and
to Franco-Nevada for a portion of Ahafo South;
 The Government of Ghana has a 10% free-carried interest in the Project. Newmont
pays the Government of Ghana a ninth of the dividend declared to Newmont
shareholders. Additionally, Newmont is obliged to pay 0.6% of the Project revenue
if the gold price averages US$1,300/oz or more, as an advance dividend against the
one-ninth share;
 Environmental liabilities for the Ahafo South operation are typical of those that would
be expected to be associated with an operating gold mine with a number of open
pits and an underground mine, including roads, site infrastructure, waste and tailings
disposal facilities;
 Artisanal mining has occurred within the Newmont ground holdings, and there is an
expectation that environmental damage has resulted from these activities.

25.3 Geology and Mineralization

 The Ahafo deposits are interpreted to be examples of orogenic gold deposits;
 The geological understanding of the settings, lithologies, and structural and
alteration controls on mineralization in the different zones is sufficient to support
estimation of Mineral Resources and Mineral Reserves. The geological knowledge
of the area is also considered sufficient to reliably inform mine planning;

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 The mineralization style and setting are well understood and can support declaration
of Mineral Resources and Mineral Reserves.

25.4 Exploration, Drilling and Analytical Data Collection in Support

of Mineral Resource Estimation
 The exploration programs completed to date are appropriate for the style of the
deposits on the Project;
 Sampling methods are acceptable for Mineral Resource and Mineral Reserve
estimation;
 Sample preparation, analysis and security are generally performed in accordance
with exploration best practices and industry standards;
 The quantity and quality of the lithological, geotechnical, collar and down-hole survey
data collected during the exploration and delineation drilling programs are sufficient
to support Mineral Resource and Mineral Reserve estimation. The collected sample
data adequately reflect deposit dimensions, true widths of mineralization, and the
style of the deposits. Sampling is representative of the gold grades in the deposits,
reflecting areas of higher and lower grades;
 The QA/QC programs adequately address issues of precision, accuracy and
contamination. Drilling programs typically included blanks, duplicates and SRM
samples. QA/QC submission rates meet industry-accepted standards. The QA/QC
programs did not detect any material sample biases;
 The data verification programs concluded that the data collected from the Project
adequately support the geological interpretations and constitute a database of
sufficient quality to support the use of the data in Mineral Resource and Mineral
Reserve estimation.

25.5 Metallurgical Testwork

 Metallurgical testwork and associated analytical procedures were appropriate to the
mineralization type, appropriate to establish the optimal processing routes, and were
performed using samples that are typical of the mineralization styles found within the
Project;
 Samples selected for testing were representative of the various types and styles of
mineralization. Samples were selected from a range of depths within the deposits.
Sufficient samples were taken so that tests were performed on sufficient sample
mass;
 Recovery factors estimated are based on appropriate metallurgical testwork, and
are appropriate to the mineralization types and the selected process routes;

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 There are no elements identified in sufficient concentrations that are expected to

adversely affect recoveries in the LOMP;
 The plant will produce variations in recovery due to the day-to-day changes in ore
type or combinations of ore type being processed. These variations are expected
to trend to the forecast recovery value for monthly or longer reporting periods.

25.6 Mineral Resource Estimates

 The Mineral Resource estimation for the Project conforms to industry best practices
and is reported using the 2014 CIM Definition Standards;
 Factors that may affect the Mineral Resource estimate include: changes to long-
term metal price assumptions; changes in local interpretations of mineralization
geometry and continuity of mineralized zones; changes to geological shape and
continuity assumptions; changes to input parameters used in the pit shells and stope
outlines constraining the Mineral Resources; changes to the cut-off grades used to
constrain the estimates; variations in geotechnical, mining, and processing recovery
assumptions; and changes to environmental, permitting and social license
assumptions;
 There is upside potential for the estimates if mineralization that is currently classified
as Inferred can be upgraded to higher-confidence Mineral Resource categories.

25.7 Mineral Reserve Estimates

 The Mineral Reserve estimation for the Project incorporates industry best practices
and meets the requirements of the 2014 CIM Definition Standards;
 The Mineral Reserves are forward-looking information and actual results may vary.
The risks regarding Mineral Reserves are summarized in Section 15.4 and in this
sub-section. The assumptions used in the Mineral Reserve estimates are
summarized in the footnotes of the Mineral Reserve table, and in Sections 15 and
16 of the Report;
 Mineral Reserves amenable to open pit mining methods were estimated assuming
open pit methods with conventional methods for drilling, blasting, loading with
hydraulic shovels and haulage by large trucks;
 Mineral Reserves amenable to underground mining methods were estimated
assuming conventional stoping methods;
 Mineral Resources were converted to Mineral Reserves using a detailed mine plan,
an engineering analysis, and consideration of appropriate modifying factors.
Modifying factors include the consideration of dilution and ore losses, open pit and
underground mining methods, metallurgical recoveries, permitting and infrastructure
requirements;

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 Stockpiles are included in the estimate;

 Factors that may affect the Mineral Reserve estimates include: changes to the gold
price assumptions; changes in the metallurgical recovery factors; changes to the
operating cut-off assumptions for mill feed or stockpile feed; changes to the input
assumptions used to derive the open pit and stope outlines and the mine plan that
is based on those open pit and stope designs; changes to operating, and capital
assumptions used, including changes to input cost assumptions such as
consumables, labor costs, royalty and taxation rates; variations in geotechnical,
hydrogeological, dilution and mining assumptions; including changes to pit phase or
stope designs as a result of changes to geotechnical, hydrogeological, and
engineering data used; changes to the assumed permitting and regulatory
environment under which the mine plan was developed; ability to maintain mining
permits and/or surface rights; ability to permit the expanded TSF and obtain the
operations certificate for current and future underground operations; ability to
maintain social and environmental license to operate;
 As a result of additional information gathered in the period 2016–2018, the
geotechnical setting of the Subika underground deposit is identified as being an
adverse stress field, and mining activities will further contribute to the stress regime.
The mine plan was modified to accommodate/alleviate high mine induced stresses;
however, effective geotechnical management procedures are critical for safe and
complete extraction of the Mineral Reserves.

25.8 Mine Plan

 Mining operations can be conducted year-round;
 The open pit mine plans are appropriately developed to maximize mining
efficiencies, based on the current knowledge of geotechnical, hydrological, mining
and processing information on the Project;
 The underground mine plans are based on the current knowledge of geotechnical,
hydrological, mining and processing information in the Subika underground area.
Mine plans were revised from assumptions used during the trial mining phase to
accommodate updated geotechnical information. As a result, mining will use
different stoping techniques based on mine area and elevation. Stope design and
operating costs in particular will vary if good geotechnical control is not maintained;
 Open pit operations at Ahafo South use a standard drill-and-blast, truck-and-shovel
configuration;
 Underground operations use conventional underground mining methods and
equipment fleets;
 Mining activities are projected to have a 10-year mine life, from 2019 to 2029, with
ore sourced from open pits, underground, and stockpiles;

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 As part of day-to-day operations, Newmont will continue to perform reviews of the

mine plan and consider alternatives to, and variations within, the plan. Alternative
scenarios and reviews may be based on ongoing or future mining considerations,
evaluation of different potential input factors and assumptions, and corporate
directives.

25.9 Recovery Plan

 The process methods in use are conventional to the industry. The comminution and
recovery processes are widely used in the industry with no significant elements of
technological innovation;
 The process plant flowsheet design was based on testwork results, previous study
designs and industry standard practices for handling combinations of fresh rock and
saprolite;
 The process facilities in use are appropriate to the mineralization styles;
 Newmont does not consider the AME project to be a material increase to current
production;
 The process plant will produce variations in recovery due to the day-to-day changes
in ore type or combinations of ore type being processed. These variations are
expected to trend to the forecast recovery value for monthly or longer reporting
periods.

25.10 Infrastructure
 All key infrastructure is built for the Ahafo South operations, and the mine is
operating. The 100 Mt storage capacity of the existing TSF will be used up by the
end of the third quarter of 2019. Newmont evaluated storage configurations for an
expanded TSF and selected a hybrid option, whereby the TSF would be raised
vertically, and extended horizontally. This facility is planned to be able to store 240
Mt. An environmental impact statement was prepared and submitted to the relevant
Ghanaian authorities;
 Within Newmont’s ground holdings, there is sufficient area to allow construction of
any additional infrastructure that may be required in the future;
 Newmont Africa in Ghana receives power purchased from the Volta River Authority’s
(VRA) electricity generation thermal facilities near the Ghanaian coast and at the
Akosombo Dam hydroelectric facility. Newmont has also installed emergency power
generating capacity, consisting of 27 MW at Ahafo South, to meet any power
challenges;
 The existing infrastructure, staff availability, existing power, water, and
communications facilities, and the methods whereby goods are transported to the

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mine are all in place and well-established at Ahafo South, and can support the
estimation of Mineral Resources and Mineral Reserves;
 Mining operations are conducted on a year-round basis at Ahafo South.

25.11 Environmental, Permitting and Social Considerations

 Baseline studies completed in support of current and proposed mine design and
permitting include climate, soil, air, and water quality, characterization of
hydrogeological units, biological resources and landscape studies;
 Environmental and social management plans were developed in support of
operations;
 Newmont’s broad closure and reclamation objectives are to ensure that the site is
left in a condition that is safe, stable, and minimizes long-term environmental impact;
is without any future liability to the community, and future land use restrictions are
minimized. In 2018, the LOM costs were estimated at US$129 M including allocation
of costs for rehabilitation of WRSFs, the TSF and Subika underground. As part of
the reclamation and security agreement (environmental bond) with the Ghanaian
Government, Newmont provided a cumulative (project to date) cash deposit of
US$11 M based on the current disturbance in 2018. The EPA requires a
Reclamation Bond to be posted as part of any mine permitting process; the total
2018 liability for Ahafo South was estimated as US$91 M.

25.12 Markets and Contracts

 Newmont has an operative refining agreement with MKS (Switzerland) S.A, a Swiss
refining house, for refining of doré produced from the Ahafo South operations.
Newmont’s bullion is sold on the spot market, by marketing experts retained in-
house by Newmont. The terms contained within the sales contracts are typical and
consistent with standard industry practice, and are similar to contracts for the supply
of doré elsewhere in the world.
 Metal prices are set by Newmont management and are appropriate to the commodity
and mine life projections;
 In-place contracts cover items such as bulk commodities, operational and technical
services, mining and process equipment, and administrative support services.
Contracts are negotiated and renewed as needed. Contract terms are typical of
similar contracts in Ghana;

25.13 Capital Cost Estimates

 The capital cost estimates are based on a combination of quotes, vendor pricing,
and Newmont’s experience with similar-sized operations;

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 The sustaining estimate totals about US$377.4 M. An additional US$129.6 M is

allocated from operating costs to sustaining capital, consisting of asset
componentization, resulting in an overall sustaining capital cost of US$407 M.
 An allocation of US$41.2 M has been made to development capital for the AME
project.
 Closure costs are estimated at US$129.6 M.

25.14 Operating Cost Estimates

 Operating costs for mining and processing were developed from first principles, and
included data derived from metallurgical testwork and Newmont’s operational
experience;
 The overall operating cost estimate totals approximately US$3,397.2 M over the
LOMP.

25.15 Economic Analysis

 Under the assumptions in this Report, the Ahafo South operations show a positive
cash flow over the life-of-mine and support Mineral Reserves. The mine plan is
achievable under the set of assumptions and parameters used.

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26.0 RECOMMENDATIONS

26.1 Introduction
Recommendations are divided into two phases. Phase 1 recommendations are made in relation
to exploration activities. Recommendations proposed in Phase 2 are for additional data collection
and data support of additional metallurgical testwork on the Apensu Deeps mineralization, and a
review of the planned mining method for the Subika underground.
Phase 1 is estimated at about US$22.5 M. Phase 2 is budgeted at approximately US$3.5–
US$3.6 M. Phase 2 is not contingent on positive results of Phase 1 and the two phases could be
conducted concurrently.

26.2 Phase 1
The planned drill programs include:
 Infill drilling at Subika underground and Apensu North to potentially support
mineralization in the Subika North and Subika North corridors to higher-confidence
category Mineral Resources (55,000 m);
 Step-out “wingspan” drilling from Subika underground and Apensu North (19,000 m);
 Early-stage exploration target testing within the Ahafo brownfields area (4,000 m).
All-in drilling cost estimates for the planned underground drilling vary by area due to the presence
of, or lack of, existing underground infrastructure to provide drill platforms. The infill drilling will
be approximately US$294/m, and the step-out drilling is estimated at US$263/m. The exploration
drill estimate is about US$326/m. All-in underground drilling costs include provision for drill
pad/platform preparation, drilling, mobilization/demobilization, assay, and labor costs. The
exploration drilling also includes provision for access roads, and rehabilitation.
Drilling costs total about US$16.2 M for the infill drilling, US$5 M for the step out drilling and
US$1.3 M for the early-stage exploration program, for a total drill cost of US$22.5 M.
The QP notes that the program is provisional and that some drill meterage may be changed
depending on assay results as they become available.

26.3 Phase 2
Testwork programs are underway on the Apensu Deeps material to assess two potential process
design changes that could be implemented in the plant:
 Impact of finer grinding to 53 µm;
 Pre-concentration (flotation), followed by fine regrind of concentrate (10–15 µm) and
leaching of flotation concentrate and tails.

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The testwork would be used to determine if it could be economically viable to grind the Ahafo
South ore bodies finer (Line 2) or to install a sulfide recovery circuit followed by finer grinding of
the concentrate on Line 2.
A budget of US$0.5–US$0.6 M is recommended to complete the work.
As noted in Section 13.2.6, Newmont collected pulps from previous drill campaigns in the various
Apensu zones to identify the distribution of arsenic and sulfur within the mineralized zones. Early
metallurgical studies showed correlations of arsenic and/or sulfide sulfur with leach gold
extractions, which may be useful in recovery modeling should further testwork continue to show
similar trends. This testwork program is underway.
The program is budgeted at approximately US$45,000.
Additional evaluation of the mining method employed at Subika underground is required. Based
on Newmont’s changing understanding of the deposit and rock mass characteristics, a different
mining method may be more optimal. A cross-functional project team comprising subject matter
experts should be assembled, and it is recommended to include mining engineering, geotechnical
engineering, infrastructure and geology disciplines. This team should investigate other possible
mining methods that could be executed at Subika. This work is expected to cost US$2.5 M.
The total costs for Phase 2 are about US$3.5–US$3.6 M.

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27.0 REFERENCES
Allen, L.E., 2018: Subika OP Resource Model Peer Review: draft internal Newmont
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Amec Foster Wheeler, 2016: Ahafo South Operations, Ghana Reserve/Resource Audit Report;
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189766, 252 p.
Anderson, T., 2018: Ahafo North Stage 2B Feasibility Report: internal Newmont report, 2
January, 2018, 563 p.
Baah-Danso, E., 2011: The Structural Evolution of the Subika Deposit, Ahafo, Sefwi Belt, Ghana:
MSc thesis, University of Western Australia.
Bawden W.F., 2018: Preliminary Subika Extraction Ratio Guidance: memorandum prepared for
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Boye, A., Anderson, T., Jessen, M.H., Weedon, P., Nii-Armah, R., and Kappes, R., 2017: Ahafo
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Fraser Institute, 2018: Survey of Mining Companies, 2017: Fraser Institute publication,
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Golder Associates (Accra), 2014a: Newmont Ahafo North Project, Ghana, Open Pit Slope Stage
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Golder Associates (Accra), 2014b. Newmont Ahafo North Project, Ghana, Geotechnical Design
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Characters and Genesis of Gold Deposits in Metamorphic Terranes: Economic Geology
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407–450.

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Groves, D.I., Goldfarb, R.J., Gebre-Mariam, M., Hagemann, S.G., and Robert, F. 1998: Orogenic
gold deposits: A Proposed Classification in the Context of their Crustal Distribution and
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Groves, D.I., Goldfarb, R.J., Robert, F., and Hart, C.J.R., 2003: Gold Deposits in Metamorphic
Belts: Overview of Current Understanding, Outstanding Problems, Future Research, and
Exploration Significance: Economic Geology, Vol. 98, pp. 1–29.
Inglis, R., 2015: Ahafo North Database Audit 2015: internal Newmont report, 29 May 2015, 41 p.
Jewbali, A., 2018: Review of the 2018 Subika UG model (Only Inclusion of SA1 material): internal
Newmont memorandum, February 2018, 5 p.
Kappes, R., 2018: Ahafo South Recovery Upscale Factor Testwork and Analysis: internal
Newmont report, January 2018, 13 p.
Kappes, R., 2018: Ahafo South Strategy Finer Grind Processing Options Update: internal
Newmont report, January 2018, 37 p.
Kintzel, R., 2016: HOV – Cut-off Grade Strategy: internal Newmont report, 6 January 2016, 2 p.
Martos, M., 2017: GED Database Audit, Ghana Drillholes Database: internal Newmont report,
23 March, 2017, 59 p.
McFarlane, H., 2017: The Geodynamic and Tectonic Evolution of the Palaeoproterozoic Sefwi
Greenstone Belt, West African Craton (Ghana): PhD thesis, Monash University, Australia
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Moritz, R., 2000: What Have We Learnt About Orogenic Lode Gold Deposits Over The Past 20
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Newmont, 2015a. Final Ahafo North Stage 2B Metallurgical Report: internal Newmont report
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Newmont, 2015b: Ahafo North Mine Engineering Stage 2AB Bridge Report: internal Newmont
report, August 28, 2015.
Newmont, 2016: NI 43-101 Technical Report for Ahafo Operations, Ghana: internal Newmont
report, 6 July 2017, 197 p.
Newmont, 2017: Subika Phase 3 and Phase 4 Pit Wall Optimization Geotechnical Study: internal
Newmont report, 2 October, 2017, 27 p.
Newmont, 2018a: Competent Person Report, Ahafo (Geology): draft internal Newmont report:
26 October, 2018, 16 p.

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Newmont, 2018b: Competent Person Report, Ahafo (Metallurgy): draft internal Newmont report:
24 December, 2018, 20 p.
Newmont, 2018c: Competent Person Report, Ahafo (Open Pit Mine Engineering) 14 November,
2018, 17 p.
Newmont, 2018d: Competent Person Report, Ahafo (Apensu): draft internal Newmont report: 24
October, 2018, 18 p.
Newmont, 2018e: Competent Person Report, Ahafo (Resource Modelling): draft internal
Newmont report: 24 December, 2018, 12 p.
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20 January, 2019, 54 p.
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NewFields Mining and Energy Services, 2014b: Subenso North and Yamfo Northeast
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NewFields Mining and Energy Services, 2015a: Preliminary Water Balance Model Results, Ahafo
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Wheeler for Newmont, 7 November, 2016, 47 p.

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Seibel, G., 2015: Resource Model Review, Ahafo North: report prepared by AMEC for Newmont,
27 August, 2015, 321 p.
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Project No. 170934, November 30, 2012, 120 p.

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