| Mon 19 Apr 2010, 15:57 | | GFI - Gold Fields Limited - Media Release |
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GFI
GOGOF
GFI - Gold Fields Limited - Media Release
Gold Fields Limited
Incorporated in the Republic of South Africa
Registration number 1968/004880/06
Share code: GFI
Issuer code: GOGOF
ISIN - ZAE000018123
MEDIA RELEASE
GOLD FIELDS SPONSORS MINING ENGINEERING FACULTIES
Johannesburg, 19 April 2010: Gold Fields Limited (Gold Fields) (JSE, NYSE,
NASDAQ Dubai: GFI) today announced that it is investing R26m in an effort to
address skills shortages in the South African mining industry. The three-year
sponsorship deal comprises investments in the mining engineering faculties at
the University of Witwatersrand and the University of Johannesburg. The official
handover ceremony held at Wits University earlier today was attended by the
Department of Minerals and Resources Minister Susan Shabangu.
The sponsorship aims to forge an alliance between Gold Fields and the
universities to promote the study of mining engineering, a core skill required
to sustain not only the company itself but the local mining industry as a
collective.
The announcement comes amid a renewed sense of urgency amongst industry and
government to address the lack of high level, scarce skills in the country. Only
about 90 mining engineering students graduated country-wide last year from an
initial intake of around 200 students four years earlier. These graduates are
highly sought after not only by South African miners, but worldwide. The slow
supply of graduates is compounded by the departure of established mining
engineers due to emigration and retirement. A recent survey by the Landelahni
recruitment firm showed that South African mining engineers are in great demand
across the globe and that only about 15% of them remain in the local industry
for a long-term career.
Accordingly, the Department of Mineral Resources has identified skills
development as one of the key issues affecting the mining sector`s global
competitiveness. The department indicated that it intends to investigate the
skills needs of the industry and to establish ways of facilitating skills
development and the retention of skills in the industry.
Nick Holland, Chief Executive Officer of Gold Fields, said: "The industry is
currently facing a skills gap crisis which is proving to be a serious challenge
for the mining industry. We are pleased to be partnering with Wits University
and the University of Johannesburg to help ensure that we create a pipeline of
qualified engineers who can benefit Gold Fields and the industry in general."
Professor Loyiso Nongxa Vice-Chancellor and Principal of the University of
Witwatersrand added: "We are pleased to partner with Gold Fields on this project
and we are confident that this partnership will yield benefits for the
development of our country and the continent."
In terms of the sponsorship agreements, the universities will receive a once off
capital injection of R8m followed by R6m a year for three years. In return Gold
Fields is afforded naming right status for the infrastructure that it sponsors
as well as participation in advisory committees at the two universities.
Amongst others the funds at Wits will be used for the expansion of the fourth
quadrant of the Chamber of Mines Building which houses the Wits Faculty of
Engineering; to equip a new 101-seater mining design laboratory; upgrading and
new equipment for the Mining School`s main design laboratory; and, salaries of
full-time senior tutors at the faculty.
The sponsorship is in addition to a range of other educational initiatives
undertaken by Gold Fields. Last year the company spent around R165 million on
education in South Africa, including its Gold Fields Academy and on-mine
training. Gold Fields also awarded 124 university bursaries, 378 technical
learnerships and 40 post-graduate assignments in 2009.
Sponsorship of engineering education is not new to Gold Fields. The company
funded the National Engineering awards amongst seven universities for years and
is a significant contributor to the Mining Education and Training Fund, which
supports the salaries of senior academic staff in the field.
Gold Fields has previously supported the engineering departments at both Wits
University and the University of Johannesburg directly, as well as other
faculties at both universities. These included the Specialised Education unit
for Deaf Education, the Institute for Palliative Medicine, the Paediatric HIV
Programme and the Centre for Sustainability at Wits, as well as Natural Sciences
departments and various outreach programmes at the University of Johannesburg.
Enquiries
Gold Fields Limited
Sven Lunsche
Tel +27 11 562-9763
Mobile +27 (0) 83 260 9279
email Sven.Lunsche@goldfields.co.za
University of the Witwatersrand, Johannesburg
Buhle Zuma, Communications Officer
Tel +2711 717-1018
Mobile +27 (0) 82 886 8440
email Buhle.Zuma@wits.ac.za
-ends-
Notes to editors
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 second quarter of F2010
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