FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of December 2005
Commission File Number 1-31318
Commission File Number 1-31318
Gold Fields Limited
(Translation of registrant's name into English)
24 St. Andrews Rd.
Parktown, 2193
South Africa
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
cover Form 20-F or Form 40-F.
Form 20-F..x... Form 40-F.....
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ________
permitted by Regulation S-T Rule 101(b)(1): ________
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): ________
permitted by Regulation S-T Rule 101(b)(7): ________
Indicate by check mark whether by furnishing the information contained in this Form,
the registrant is also thereby furnishing the information to the Commission pursuant to
Rule 12g3-2(b) under the Securities Exchange Act of 1934.
the registrant is also thereby furnishing the information to the Commission pursuant to
Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ..... No ..x...
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________
connection with Rule 12g3-2(b): 82- ________
M E D I A
R E L E A S E
Gold Fields Limited
Reg. 1968/004880/06
24 St Andrews Road
Parktown, 2193
24 St Andrews Road
Parktown, 2193
Postnet Suite 252
Private Bag X30500
Houghton, 2041
South Africa
Private Bag X30500
Houghton, 2041
South Africa
Tel +27 11 644-2400
Dir +27 11 644-2460
Fax +27 11 484-0639
Dir +27 11 644-2460
Fax +27 11 484-0639
www.goldfields.co.za
Enquires
South Africa
Willie Jacobsz
Tel +27 11 644-2630
Fax +27 11 484-0639
Fax +27 11 484-0639
Nerina Bodasing
Tel +27 11 644-2460
Fax +27 11 484-0639
Fax +27 11 484-0639
North America
Cheryl A Martin
Tel +1 303 796-8683
Fax +1 303 796-8293
Fax +1 303 796-8293
Gold Fields To Proceed With Cerro Corona Project
In Peru
Johannesburg, December 5, 2005: Gold Fields Limited (Gold
Fields) (NYSE and JSE: GFI) is pleased to announce that the
Peruvian Government has approved the environmental impact study
for the Cerro Corona project in Northern Peru.
Fields) (NYSE and JSE: GFI) is pleased to announce that the
Peruvian Government has approved the environmental impact study
for the Cerro Corona project in Northern Peru.
The feasibility study for this project was completed during November
and the Gold Fields Board, subject to the receipt of this approval,
subsequently approved the associated investment.
and the Gold Fields Board, subject to the receipt of this approval,
subsequently approved the associated investment.
The project involves the development of a 91 million ton gold/copper
porphyry deposit at a capital cost of US$277 million. The project has
reserves
porphyry deposit at a capital cost of US$277 million. The project has
reserves
1
of some 2.9 million ounces of gold and 480,000 tons of
copper, or approximately 5.4 million ounces of gold equivalent
1
.
The project is expected to produce approximately 2.3 million ounces of
gold and 412,000 tons of copper over its 15-year life, averaging some
300,000 ounces per year of gold equivalent
gold and 412,000 tons of copper over its 15-year life, averaging some
300,000 ounces per year of gold equivalent
1
. However, production in
the initial years of the project will be closer to 400,000 ounces per
year.
year.
Life of mine total cash costs, on a gold equivalent basis, are estimated
at some US$250 per ounce
at some US$250 per ounce
1
.
Ian Cockerill, Chief Executive Officer of Gold Fields said: “The
approval of the environmental impact study is the first step in what we
believe will be a long and mutually beneficial partnership between
Gold Fields and the people of Peru”.
approval of the environmental impact study is the first step in what we
believe will be a long and mutually beneficial partnership between
Gold Fields and the people of Peru”.
Gold Fields announced on December 19, 2003, that it, through its
subsidiary Gold Fields Corona BVI., had signed a definitive share
purchase agreement to acquire 92.0 per cent of the voting shares
(80.7% of the economic interest) in Sociedad Minera La Cima S.A.,
which owns the Cerro Corona Project and other mineral properties in
the Cajamarca district of Peru.
subsidiary Gold Fields Corona BVI., had signed a definitive share
purchase agreement to acquire 92.0 per cent of the voting shares
(80.7% of the economic interest) in Sociedad Minera La Cima S.A.,
which owns the Cerro Corona Project and other mineral properties in
the Cajamarca district of Peru.
Gold Fields will now commence steps to complete the acquisition
referred to above for a total consideration of US$40 million, and
construction is expected to commence in February 2006.
referred to above for a total consideration of US$40 million, and
construction is expected to commence in February 2006.
“Cerro Corona will bring us closer to our strategic goal of acquiring an
additional 1.5 million ounces of international production by 2009,
additional 1.5 million ounces of international production by 2009,
1
Figures reported at US$375 per ounce of gold and US$0.90 per pound of copper.
Directors: A J Wright (Chairman), I D Cockerill
†
(Chief Executive Officer),K Ansah
#
, G J Gerwel, A Grigorian°, N J Holland
†
(Chief Financial
Officer), J M McMahon
†
, R L Pennant-Rea
†
, P J Ryan, M A Sosnovski°, S Stefanovich°,T M G Sexwale, C I von Christierson
†
British,
#
Ghanaian, °Russian
Corporate Secretary: C Farrel
thereby improving the balance between production from our South African and International
operations. It will consolidate our position in South America and, together with our proposed
acquisition of Bolivar and its Choco 10 mine in Venezuela, increase substantially our presence in one
of the most prospective gold regions of the world,” added Cockerill.
operations. It will consolidate our position in South America and, together with our proposed
acquisition of Bolivar and its Choco 10 mine in Venezuela, increase substantially our presence in one
of the most prospective gold regions of the world,” added Cockerill.
Cerro Corona will be a single surface mine producing approximately 6.2 million tons per annum of
ore at a life of mine strip ratio of 0.83, for a total of approximately 91 million tonnes of ore mined over
a 15-year life, at an average grade of 1.0 gram per tonne of gold and 0.53% copper.
ore at a life of mine strip ratio of 0.83, for a total of approximately 91 million tonnes of ore mined over
a 15-year life, at an average grade of 1.0 gram per tonne of gold and 0.53% copper.
Ore will be treated in a conventional sulphide flotation concentrator, to produce a 25% copper
concentrate containing typically 40 grams per tonne of gold for custom smelting at third party
facilities.
concentrate containing typically 40 grams per tonne of gold for custom smelting at third party
facilities.
Approximately US$150 million of the capital costs will be financed through a project finance facility
and the balance of the capital costs as well as the purchase consideration is expected to be funded
from internal sources.
and the balance of the capital costs as well as the purchase consideration is expected to be funded
from internal sources.
“With a purchase price of less than US$11 per reserve ounce of gold-equivalent, the total cost of gold
bought (acquisition cost + capital costs + working costs), per ounce of gold recovered, is
approximately US$340 per ounce. Cerro Corona represents fundamental value for Gold Fields’
shareholders and again confirms our commitment to the principle of not overpaying for assets,” said
Cockerill
bought (acquisition cost + capital costs + working costs), per ounce of gold recovered, is
approximately US$340 per ounce. Cerro Corona represents fundamental value for Gold Fields’
shareholders and again confirms our commitment to the principle of not overpaying for assets,” said
Cockerill
“In Cerro Corona we will have a Gold Fields franchise asset at one of the best gold mining
addresses in South America, a significant foothold from which we intend to grow in the region,” he
added.
addresses in South America, a significant foothold from which we intend to grow in the region,” he
added.
The Cerro Corona deposit is located within a well-endowed mineralised trend in the Hualgayoc
mining district, about 35 kilometres north of the well known Yanacocha mine and approximately 90
kilometres by road north of the Departmental capital of Cajamarca in the western Cordillera of the
Andes Mountains.
mining district, about 35 kilometres north of the well known Yanacocha mine and approximately 90
kilometres by road north of the Departmental capital of Cajamarca in the western Cordillera of the
Andes Mountains.
Gold Fields is one of the world’s largest unhedged gold producers, with annual gold production of
approximately 4.2 million ounces from mines in South Africa, Ghana and Australia as well as a
development project at Cerro Corona in Peru. The Company has reserves of 64.8 million ounces and
mineral resources of 174.5 million ounces. Gold Fields has its primary listing on the Johannesburg
Securities Exchange and secondary listings on the NYSE, LSE, Euronext in Paris and Brussels, and
on the Swiss Exchange. All of Gold Fields’ operations are ISO 14001 certified.
development project at Cerro Corona in Peru. The Company has reserves of 64.8 million ounces and
mineral resources of 174.5 million ounces. Gold Fields has its primary listing on the Johannesburg
Securities Exchange and secondary listings on the NYSE, LSE, Euronext in Paris and Brussels, and
on the Swiss Exchange. All of Gold Fields’ operations are ISO 14001 certified.
-ends-
Enquiries:
G o l d F i e l d s
Willie Jacobsz
+27 11 644-2505
Willie Jacobsz
+27 11 644-2505
williej@goldfields.co.za
Nerina Bodasing
+27 11 644-2630
+27 11 644-2630
nerinab@goldfields.co.za
Cheryl Martin
(303) 796-8683
(303) 796-8683
camartin@gfexpl.com
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Date: 05 December 2005
GOLD FIELDS LIMITED
By:
Name: Mr W J Jacobsz
Title: Senior Vice President: Investor
Title: Senior Vice President: Investor
Relations and Corporate Affairs