| Fri 7 Mar 2008, 13:37 | | GFI - Gold Fields Welcomes Additional Allocation O |
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GFI
GOGOF
GFI - Gold Fields Welcomes Additional Allocation Of Power
Gold Fields Limited
(Registration Number 1968/004880/06)
("Gold Fields ")
Share Code: GFI
ISIN: ZAE000018123
MEDIA RELEASE
Gold Fields welcomes additional allocation of power
Johannesburg, Friday, Monday, March 7, 2008: Gold Fields Limited ("Gold Fields")
(NYSE, JSE, DIFX: GFI) is pleased to confirm that it received formal
notification from the Department of Minerals and Energy that, following
representations by the Chamber of Mines and consultation with all stakeholders,
the mining industry had been allocated an additional 260 MW of power which will
effectively allow mines to increase their power consumption from the current
level of 90% of average historical consumption.
This new allocation will be phased in over the next two weeks and is aimed at
minimizing the disruptive impact of power rationing on the mining industry, job
losses and mine safety.
Terence Goodlace, head of Gold Fields` South African operations, said today: "We
welcome the latest developments. The additional power supply to our mines will
help to limit job losses and will have a positive impact not only on our company
and its employees, but on the broader economy. We will work closely with Eskom
and our peers in the industry to utilise this additional allocation of
electricity to the greatest benefit of all stakeholders and to ensure that
safety is prioritised.
"As soon as the specific additional allocation for each of our mines is
confirmed, we will review our mine plans and production profiles, with a view to
increasing production near to levels prior to those before the reduction in
power supply.
"Gold Fields will continue to save power wherever possible as we appreciate
that, like everyone in the country, we have a duty to play our part in energy
saving."
ends
Enquiries
Andrew Davidson
Tel: 011-644-2638
Mobile: 082 667 7203
Sponsor: JP Morgan Equities
About Gold Fields
Gold Fields Limited is one of the world`s largest unhedged producers of gold
with attributable production of more than four million ounces per annum from
eight operating mines in South Africa, Ghana and Australia.
A ninth mine, the Cerro Corona Gold/Copper mine in Peru, is expected to commence
production by mid 2008 at an initial rate of approximately 400,000 gold
equivalent ounces per annum.
The company has total attributable ore reserves of 92 million ounces and mineral
resources of 252 million ounces.
Gold Fields employs some 53,000 permanent employees across its operations and is
listed on the JSE Limited South Africa (primary listing), the New York Stock
Exchange (NYSE) and the Dubai International Financial Exchange (DIFX).
All of Gold Fields` operations are ISO14001 certified. For more information
please visit the Gold Fields website at www.goldfields.co.za.
Date: 07/03/2008 13:37:43 Produced by the JSE SENS Department.
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