| Thu 2 Oct 2008, 8:07 | | GFI - Gold Fields Limited - Media release |
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GFI
GOGOF
GFI - Gold Fields Limited - Media release
Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
JSE, NYSE, DIFX Share Code: GFI
NYX Code: GFLB, and SWX Code: GOLI
ISIN Code: ZAE000018123
("Gold Fields" or the "Company")
MEDIA RELEASE
Gold Fields to Sell BIOX Technology Business
Johannesburg, 2 October 2008: Gold Fields Limited ("Gold Fields") (NYSE, JSE,
DIFX: GFI) today announced that it has entered into an agreement with Bateman
Engineering N.V. to sell its BIOX Technology Business to Bateman Engineering for
a net cash consideration of US$8.84 million.
The BIOX business is the owner of a proprietary and patented technology, known
as the BIOX process, which is used for the pre-treatment of refractory ores and
concentrates prior to gold recovery through conventional cyanide leaching
techniques. Included in the sale is a second technology, currently in
development, for the efficient removal of thiocyanate and cyanide from leach
solutions. The technology, known as ASTER (Activated Sludge Tailings Effluent
Remediation), is currently undergoing pilot plant testing and if commercially
viable could be applied to many conventional gold processing plants worldwide.
As part of the transaction Bateman will be acquiring Biomin Technologies SA, a
Swiss registered entity, holder of the relevant intellectual property, patents
and trademarks, as well as the majority of the related licensing agreements with
the mining companies that make use of the technology.
Gold Fields has chosen to dispose of this business as it does not form part of
its core business activities. A focused engineering and technology company such
as Bateman is better placed to develop BIOX and its related technologies to
their full potential.
The transaction is conditional, inter alia, upon the approval of the South
African Reserve bank
-ends-
About Gold Fields
Gold Fields Limited is one of the world`s largest unhedged producers of gold
with attributable production of 3.64 million ounces per annum from eight
operating mines in South Africa, Ghana and Australia. A ninth mine, Cerro
Corona Gold/Copper mine in Peru, commenced production in August 2008 at an
initial rate of approximately 375,000 gold equivalent ounces per annum. The
company has total attributable ore reserves of 83 million ounces and mineral
resources of 251 million ounces. Gold Fields is listed on JSE Limited (primary
listing), New York Stock Exchange (NYSE), Dubai International Financial Exchange
(DIFX),Euronext in Brussels (NYX) and SWX Swiss Exchange (SWX).
Date: 02/10/2008 08:07:02 Produced by the JSE SENS Department.
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