BAAR, SWITZERLAND
5 March 2012
GLENCORE ANNOUNCES SIGNIFICANT MINERAL RESERVES INCREASE AT KAZZINC
Glencore International plc today announces significant increases in the total mineral reserves at the
Vasilkovskoye, Maleevsky and Ridder-Sokolny deposits operated by Kazzinc as a result of further
exploration drilling and technical studies with contained Gold up 50%, contained Copper up 136% and
contained Zinc up 67%.
The new mineral statement estimates Kazzincs reserves of total contained gold at 14,448ktoz, total
contained silver at 76,197ktoz, total contained copper at 745.3kt, total contained lead at 738.9kt and
total contained zinc at 3,374.4kt.
Key summary:
Vasilkovskoye:
Vasilkovskoye contained gold reserves increased by 29% to 9,462ktoz compared to the
previous report, including the effects of depletion.
Maleevsky:
Maleevsky reserves increased by 88% compared to the previous report, including the effects
of depletion. Reserves of all five metals were increased. Contained gold increased by 214%
to 300ktoz, silver by 93% to 37,658ktoz, copper by 100% to 354.5kt, lead by 77% to 179.1kt
and zinc by 71% to 1,078.5kt.
Ridder-Sokolny:
Ridder-Sokolny reserves increased by 94% compared to the previous report, including the
effects of depletion. Reserves of all five metals were increased. Contained gold increased by
283% to 2,291ktoz, silver by 55% to 9,757ktoz, copper by 245% to 203.1kt, lead by 39% to
92.3kt and zinc by 48% to 199.4kt.
Commenting on the upgrade, Nick Popovic, Chairman of the Management Board of Kazzinc, said:
This drilling and technical studies campaign has confirmed our evaluation of the high quality deposits
we have at Kazzinc. We believe these reserves will create substantial value for our shareholders in
the years ahead.
Detailed reserves breakdown below:
Reserves
1, 2
Operating Mines
Proved
Probable
Resources
Total
Measured
Indicated
Inferred
Total
Vasilkovskoye
Ore
'000 MT
Gold
Content, g/t
Gold
Amount, '000 toz
Ore
'000 MT
Gold
Content, g/t
Silver
Content, g/t
Copper
Content, %
Lead
Content, %
Zinc
Content, %
131 080
31 350
162 430
171 000
104 310
40 880
316 190
1.89
1.49
1.81
1.79
1.33
1.72
1.63
7 960
1 502
9 462
9 841
4 460
2 261
16 562
13 280
5 380
18 660
16 820
5 240
5 170
27 220
0.54
0.40
0.50
0.64
0.56
0.25
0.55
69.08
47.20
62.77
81.91
65.13
50.11
72.64
2.13
1.36
1.90
2.49
1.79
1.16
2.10
0.98
0.91
0.96
1.17
1.23
1.79
1.30
5.95
5.35
5.78
6.92
7.08
5.82
6.74
9 070
27 850
36 920
24 450
67 780
32 940
125 170
1.25
2.15
1.93
1.58
2.16
1.56
1.89
5.96
8.80
8.22
10.23
9.27
9.26
9.45
0.64
0.52
0.55
0.72
0.64
0.47
0.61
0.24
0.25
0.25
0.37
0.33
0.32
0.34
0.60
0.52
0.54
0.87
0.68
0.72
0.73
18 200
4 900
23 100
25 360
7 960
5 020
38 340
0.53
0.47
0.52
0.55
0.42
0.27
0.48
7.99
9.36
8.28
8.04
6.94
8.44
7.86
0.52
0.40
0.49
0.53
0.40
0.50
0.50
0.91
0.88
0.91
0.85
0.72
1.41
0.90
4.19
4.13
4.18
4.09
3.69
3.77
3.96
3 580
3 580
4 420
2 790
7 210
1.13
1.13
1.14
0.96
1.07
11.83
11.83
12.36
10.96
11.82
0.04
0.04
0.04
0.04
0.04
0.34
0.34
0.34
0.29
0.32
0.74
0.74
0.74
0.62
0.69
Maleevsky
Ridder-Sokolniy
Ore
'000 MT
Gold
Content, g/t
Silver
Content, g/t
Copper
Content, %
Lead
Content, %
Zinc
Content, %
Ore
'000 MT
Gold
Content, g/t
Silver
Content, g/t
Copper
Content, %
Lead
Content, %
Zinc
Content, %
Tishinsky
Staroye Tailings Dam
Ore
'000 MT
Gold
Content, g/t
Silver
Content, g/t
Copper
Content, %
Lead
Content, %
Zinc
Content, %
Shaimerden Stockpiles
Ore
'000 MT
Zinc
Content, %
2 390
2 390
2 480
2 480
21.60
21.60
21.71
21.71
Measured
Indicated
Reserves
Development Projects
1, 2
Proved
Probable
Resources
Total
Inferred
Total
Dolinnoye
Ore
'000 MT
Gold
Content,
Silver
Content,
Copper Content,
Lead
Content,
Zinc
Content,
Obruchevskoye
Ore
'000 MT
Gold
Content,
Silver
Content,
Copper Content,
Lead
Content,
Zinc
Content,
Chashinskoye Tailings Dam
Ore
'000 MT
Gold
Content,
Silver
Content,
Copper Content,
Lead
Content,
Zinc
Content,
Tishinsky Tailings Dam
Ore
'000 MT
Gold
Content,
Silver
Content,
Copper Content,
Lead
Content,
Zinc
Content,
g/t
g/t
%
%
%
3 660
3.93
53.76
0.20
0.75
1.41
960
2.38
29.82
0.14
0.50
1.02
4 620
3.61
48.77
0.19
0.70
1.33
4 010
4.47
61.83
0.24
0.92
1.76
3 040
2.51
34.03
0.14
0.51
1.01
3 830
2.11
29.54
0.20
0.68
1.26
10 880
3.09
42.70
0.20
0.72
1.37
g/t
g/t
%
%
%
890
1.73
42.80
0.81
4.27
8.98
3 250
0.90
33.21
0.83
2.66
6.50
4 140
1.08
35.26
0.82
3.01
7.03
2 710
1.76
65.37
1.51
0.42
2.46
5 510
0.51
22.15
1.05
0.37
2.06
5 240
0.51
36.42
0.95
0.36
1.77
13 460
0.76
36.41
1.24
0.39
2.16
g/t
g/t
%
%
%
55 500
0.67
5.13
0.05
0.15
0.38
55 500
0.67
5.13
0.05
0.15
0.38
57 800
0.67
5.16
0.05
0.15
0.38
30 000
0.50
4.57
0.06
0.19
0.45
87 800
0.61
4.96
0.05
0.16
0.40
g/t
g/t
%
%
%
1 100
0.38
5.10
0.23
0.44
2.25
1 100
0.38
5.10
0.23
0.44
2.25
1 150
0.38
5.13
0.23
0.44
2.26
1 150
0.38
5.13
0.23
0.44
2.26
The information in the tables above, in relation to mineral resources and ore reserves, have been estimated in accordance
with the guidelines of the JORC Code (2004) and are dated as of 1 January 2012.
Remaining mine life: different for each mine, ranging from eight to 21 years. Expiry date of relevant mining/concession
licences: different for each mine, ranging from 19 May 2013 to 7 November 2030.
3 Mineral resources and ore reserves for Ridder-Sokolniy have been completed for a significant part of the deposit, however
there are still some outstanding results.
4 The grades of copper and zinc for the depletion of the Staroye Tailings have been estimated from assumptions based upon
the known proportion of other metals within the tailings due to a lack of grade data.
Note: rounding errors may occur
Competent Persons: the mineral resource and ore reserve estimates set out above were reviewed
and approved by Phil Newall of WAI. The mineral resource and ore reserve estimates have been
prepared in accordance with the JORC Code. Mr Newall is a Competent Person as defined by JORC
and has sufficient experience which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking.
For further information, please contact:
Paul Smith (Investors)
t: +41 (0)41 709 2487
m: +41 (0)79 947 1348
e: paul.smith@glencore.com
Simon Buerk (Media)
t: +41 (0)41 709 2679
m: +41 (0)79 955 5384
e: simon.buerk@glencore.com
Finsbury (Media)
Guy Lamming
Dorothy Burwell
t: +44 (0)20 7251 3801
Elisa Morniroli (Investors)
t: +41 (0)41 709 2818
m: +41 (0) 79 833 0508
e: elisa.morniroli@glencore.com
Charles Watenphul (Media)
t: +41 (0) 41 709 2462
m: +41 (0) 79 904 33 20
charles.watenphul@glencore.com
About Glencore International plc
Glencore is one of the worlds leading integrated producers and marketers of commodities,
headquartered in Baar, Switzerland, and listed on the London and Hong Kong Stock Exchanges.
Glencore has worldwide activities in the production, sourcing, processing, refining, transporting,
storage, financing and supply of Metals and Minerals, Energy Products and Agricultural Products.
