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
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
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
Gold Fields Limited
150 Helen Road Sandown Sandton 2196
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