| Mon 17 Mar 2008, 17:50 | | GFI - Gold Fields` South African Operations Receive Additional Power |
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GFI
GOGOF
GFI - Gold Fields` South African Operations Receive Additional Power
Gold Fields Limited
Alpha code: GFI
ISIN: ZAE000018123
Gold Fields` South African operations receive additional power
Johannesburg, March 17, 2008: Gold Fields Limited ("Gold Fields") (NYSE,
JSE, DIFX: GFI) Gold Fields Limited is pleased to confirm that the national
electricity utility, Eskom, on Friday, March 14, informed Gold Fields that
the company had been granted an additional 26MW of power for use at its
Kloof and Driefontein gold mines in South Africa.
This increases the total power available to Gold Fields` South African mines
to 566 MW, or 95% of the historical average consumption profile.
Terence Goodlace, Head of Gold Fields` South African Operations, welcomed
this as a very positive development and said:
"The granting of additional power to our mines will go a long way to help
saving jobs at Driefontein and Kloof gold mines."
With the additional power, Gold Fields can now re-examine its mine planning
and re-consider the future of Nos. 6 and 7 Shafts at Driefontein as well as
Nos. 3 and 8 Shafts at Kloof. These shafts have been downscaled or had
production stopped since the onset of the power constraints in January.
There is no additional supply of power to either Beatrix or South Deep
gold mines, but Gold Fields believes these operations can function at
current levels of electricity supply owing to the shallower depth at which
Beatrix operates and the nature of the restructuring operations underway at
South Deep.
It must be pointed out, however, that the additional power allocation will
not prevent the forecast production losses of more than 20 % in the current
quarter (Q3F08).
Goodlace added: "We thank all stakeholders who have recognized the strategic
importance of the gold mining industry for South Africa. We will continue to
use the power allocated to us strategically and sparingly, and will also
continue, with the rest of South Africa, to seek ways to conserve power,
while maximizing that which has been allocated to us to the widest benefit
possible."
Ends
Directors: A. J. Wright (Chairman), I D Cockerrill(ccdhief executive
officer), K Ansah, N J Holland (chief financial officer), J G Hopwood, G
Marcus, J M McMahon, D N Murray, R L Pennant-Rea, P J Ryan, C I
Christierson.
British; Ghanaian
Coporate Secretary: C Farrel
Investor Enquiries:
Willie Jacobs
Tel: 011 644-2460
Mobile: 082 493 1377
Media Enquiries:
Andrew Davidson
Tel: 011 6442638
Mobile: 082667 7203
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: 17/03/2008 17:50:52 Produced by the JSE SENS Department.
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