| Mon 1 Mar 2010, 8:41 | | GFI - Gold Fields Limited - Media Release - Num serves strike notice on Gold |
|
GFI
GOGOF
GFI - Gold Fields Limited - Media Release - Num serves strike notice on Gold
Fields
Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
Share Code: GFI
ISIN Code: ZAE000018123
MEDIA RELEASE
NUM SERVES STRIKE NOTICE ON GOLD FIELDS
Johannesburg, 1 March 2010: Gold Fields Limited (Gold Fields) (JSE, NYSE,
NASDAQ Dubai: GFI) today announced that it has received a notice from the
National Union of Mineworkers (NUM) informing the Company that the NUM
intends to embark on strike action across all of Gold Fields` operations in
South Africa from Sunday, 7 March 2010.
The NUM has indicated that the strike will proceed indefinitely unless Gold
Fields abolishes the Functional Work Capacity Testing System (the System) on
all of its South African mines.
The Mine Health and Safety legislation in South Africa requires of an
employer to implement a Functional Work Capacity Testing System together
with an associated Code of Practice. The purpose of this legislation is to
ensure that all individuals working on a mining operation meet the basic
standards of fitness required to work safely in an underground situation,
and is central to maintaining a safe working environment.
Following consultation with all employee representative organisations,
including the NUM, implementation of the System commenced in 2006 for all
new recruits at Gold Fields` mining operations in South Africa.
The NUM, however, recently expressed its dissatisfaction with the System
following certain new recruits being deemed unfit to work on an underground
mining operation after undergoing the test.
As a result Gold Fields and the NUM have been in dialogue for the past six
months in an effort to find a solution for the continuation of the System,
which would meet the requirements of the law and be acceptable to both the
NUM and the Company. The NUM, however, has continued to insist that the
System be abolished in its entirety.
Gold Fields and the NUM will be meeting during the week with a view to
resolving the matter. Failing resolution of the matter, or withdrawal of the
strike notice by the NUM, Gold Fields will have no choice but to apply for
an urgent interdict to have the proposed strike action declared illegal.
Vishnu Pillay, Executive Vice President and Head of Gold Fields` operations
in South Africa commented: "Gold Fields fully intends to continue seeking
constructive engagement with the NUM in an effort to find a solution that
satisfies the requirements of the law, and is acceptable to the NUM, the
Company and all other stakeholders. I am confident that a solution will be
found."
ends
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.
*Based on the annualised run rate for the fourth quarter of F2009
Date: 01/03/2010 08:41:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
