Directors
: M A Ramphele (Chair), N J Holland †
** (Chief Executive Officer), P A Schmidt** (Chief Financial Officer), K Ansah
# , C A Carolus, R Dañino*, A R Hill ,
D L Lazaro^, R P Menell, M S Moloko, D N Murray, D M J Ncube, R L Pennant-Rea
† , G M Wilson
† British, Canadian, # Ghanaian, *Peruvian, ^Filipino, ** Executive Director
Corporate Secretary: C Farrel
Gold Fields Limited
Reg. 1968/004880/06
150 Helen Road,
Sandown, Sandton,
2196
Postnet Suite 252
Private Bag X30500
Houghton, 2041
South Africa
Tel
+27 11 562-9700
Fax +27 11 562-9838
www.goldfields.co.za
Enquiries
Investor Enquiries
Zakira Amra
Tel +27 11 562-9775
Mobile +27 (0) 79 694-0267
email Zakira.Amra@goldfields.co.za
Willie Jacobsz
Tel +508 839-1188
Mobile +857 241-7127
email
Willie.Jacobsz@
gfexpl.com
Nikki
Catrakilis-Wagner
Tel +27 11 562-9706
Mobile +27 (0) 83 309-6720
email Nikki.Catrakilis-Wagner@
goldfields.co.za
Media Enquiries
Sven Lunsche
Tel +27 11 562-9763
Mobile +27 (0) 83 260-9279
email
Sven.Lunsche@
goldfields.co.za
MEDIA RELEASE
GOLD FIELDS GHANA ACQUISITION APPROVED
Johannesburg, 20 June 2011: Further to the announcement on 15 April
2011, Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI)
is pleased to announce that its shareholders have overwhelmingly approved
the US$667 million acquisition of IAMGOLD Corporation’s 18.9% stake in
the Tarkwa and Damang gold mines in Ghana. Of the 603 million shares
(84% of total shares in issues) that were voted at a general meeting 93%
were cast in favour of the transaction.
The transaction is expected to be completed by the end of this week and on
completion Gold Fields will increase its interest in each of the Tarkwa and
Damang gold mines from 71.1% to 90%, with the remaining 10% interest
being held by the Government of Ghana.
Upon completion of this transaction Gold Fields will acquire:
·
an additional 181,000 ounces of annual production at current cash
costs of $540/oz and Notional Cash Expenditure1 (NCE) of about
$940/oz based on results for the six months ended 31 December
2010;
·
an additional 2.14 million reserve ounces at a cost of about $300
per ounce;
·
an additional 3.27 million resource ounces at a cost of
approximately US$198 per ounce;
·
a significant resource and reserve upside potential, in particular at
the Damang mine; and
·
US$20 million in working capital.
ends
Notes to editors
About Gold Fields
Gold Fields is one of the world’s largest unhedged producers of gold with attributable
annualised production of 3.6 million gold equivalent ounces from eight operating mines in
Australia, Ghana, Peru and South Africa. Gold Fields also has an extensive and diverse global
growth pipeline with four major projects in resource development and feasibility, with
construction decisions expected in the next 18 to 24 months. Gold Fields has total attributable
gold equivalent Mineral Reserves of 76.7 million ounces and Mineral Resources of 225.4
million ounces. Gold Fields is listed on the JSE Limited (primary listing), the New York Stock
Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss
Exchange (SWX).
Sponsor: J.P. Morgan Equities Limited