Outokumpu Oyj. Mining Business. Stainless Steel Business Area AvestaPolarit Chrome Oy Kemi Mine. Base Metals Mines Tara Mines Ltd Hitura Mine

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1 Outokumpu Oyj Mining Business Stainless Steel Business Area AvestaPolarit Chrome Oy Kemi Mine Base Metals Mines Tara Mines Ltd Hitura Mine Precious Metals Mines Orivesi Mine Vammala Plant Exploration for Au, PGM

2 Outokumpu Mining Oy mines in production HITURA Ni mine Production scheduled until the end of 2004 ORIVESI Au mine Start-up in g/t Au produced Mine will close in late 2003 VAMMALA plant Processing Au ore from Orivesi New sources for feed under active exploration

3 Outokumpu Mining Oy Hitura mine Operations Production scheduled until the end of ,000 tpa ore 2700 t/a Ni in concentrate Reserves and resources Reserves % Ni Classified resources % Ni

4 Outokumpu Mining Oy exploration Advanced projects Gold Ilomantsi (Pampalo) Huittinen (Jokisivu) Kuusamo (Juomasuo) PGM, Arctic Platinum Partnership Outokumpu disposing of its 49 % interest in the project Regional Programs Gold

5 Tara Mines Ltd Ore production to increase to tpa The South West Extension Project The Nevinstown Project Extension of mine life to 2015 Zn production to tpa of Zn contained

6 Historical and Future Production Mill feed, 10 6 t Zn contained, t Mill Feed Zn Contained 295, , , , , ,000

7 The South West Extension Project 58M, 3½ year program to access new resources and reserves in the south west area of the Navan orebody construct and install necessary infrastructure to sustain mining at 2.0Mtpa. Production commenced in 2001 and will build up to full capacity in 2004.

8 Nevinstown Zone 3 Navan Orebody - May 2000 Castle-Liscarton Faults Main Orebody Zone 1 Zone 2 D Fault A Fault P Fault Conglomerate Group Ore U & 1 Lens Ore (SWEX) 4,3,2,1 Lenses, Main Mine 5 Lens, Main Mine M Fault Randalstown Fault C Fault N Tara 1km B Fault T Fault A-C Fault South West Extension M Fault

9 SWEX Project - Overview Main accesses to SWEX reserves/resources 2.2 km of main and mining block access 2000 m of vertical development Exploration drifting and diamond drilling 3.9 km of hangingwall development 120 km of diamond drilling Ore handling system (10,000 tpd) 3.9 km of OHS development t ore storage capacity Nordberg C200 crusher (2000 x 1380) 2.1 km of conveyor (1000 tph) Automatic control

10 SWEX Project - Overview UG dewatering systems 20 kv power reticulated 2.5 km Undergound power supply 6MW capacity per line Mobile equipment service area Return air & fresh air shafts to surface 650 m RAR exhausting 360 m 3 /s 770 m FAR intaking 200 m 3 /s Surface facilities limited to FAR collar RAR evasive

11 The South West Extension Project # 5 Conveyor (2km) # 5 Crusher Block Access Drifts H/W (Exploration) Drifts Main SWEX, SWEXB Access Conceptual Stoping Drifts

12 Access from Main Mine Main Access The South West Extension Project HW Drifts #5 Crusher #5 Conveyor Mining Block Accesses Main Access continues to SWEXB

13 Nevinstown Project Highlights Nevinstown is an extension of the Navan orebody north of the River Blackwater Maximisation of ore recovery from the Navan orebody as a whole Extension of mine life to 2015 Production increase to 2.8 Mtpa Expected capital expenditure 55.6 million Existing Tara infrastructure utilised The most suitable area for pastefill

14 The Nevinstown Project Scheduled Reserves % Zn and 1.8% Pb Access to Nevinstown is from multiple development headings starting within Tara and a new decline Production at the planned rate of 0.7 Mtpa can be achieved in a 12 month development period Tara s existing infrastructure is utilised wherever possible for crushing, hoisting, pumping, ventilation, power supply etc..

15 The Nevinstown Project Kingscourt Railway 1405 Decline The River Blackwater ~ 250m Foot-Wall Access Development Tara Mines Ltd, 2003 N New Decline Portal & H/W Drifts

16 Zinc Concentrate production Zn Conc t/24h Future zinc concentrate production rate exceeds previous experience De-bottlenecking to be completed before grades start to climb in Q4 2003