GOLD FIELDS' DAMANG GOLD MINE TO RAISE PRODUCTION
Johannesburg, 30 April 2010: Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce that its Damang Gold Mine in Ghana is set to increase production significantly, following the successful construction and commissioning of a new Secondary Crushing Plant.
The plant will allow Damang to increase the average head grade to its mill by boosting the feed of harder, higher grade "fresh" ore and reducing the feed of softer, lower grade oxide ore. As a result gold production at the mine is forecast to increase up to 240,000 oz a year in the medium term. Current production is around 200,000 oz.
Nick Holland, Chief Executive Officer said: "The installation of the secondary crusher is an important step toward the transformation of Damang into a long-life mine and we expect improved production over the next few quarters. It also contributes to our strategy of increasing attributable production from our West Africa Region to at least one million ounces a year over the next five years."
In order to feed the enhanced crushing and milling systems, exploration last year has been refocused to find additional higher grade ore on the mine's property. These efforts have been successful and Damang is targeting a reserve of at least two million ounces in the medium term.
"Our aim is to extend the life of Damang by at least 15 years to 2025," Holland said.
Process design of the Secondary Crusher Project commenced early in 2009, while construction of the plant started in November 2009. The crusher was completed in April this year at a total cost of around US$12m.
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About Gold Fields
Gold Fields is one of the world's largest unhedged producers of gold with attributable production of 3.6 million ounces per annum from nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfields and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 81 million ounces and Mineral Resources of 271 million ounces. Gold Fields is listed on JSE Limited (primary listing), the New York Stock Exchange (NYSE), the Dubai International Financial Exchange (DIFX), the Euronext in Brussels (NYX) and the Swiss Exchange (SWX). For more information please visit the Gold Fields website at www.goldfields.co.za