| Fri 30 Apr 2010, 10:53 | | GFI - Gold Fields Limited - Gold Fields` Damang Gold Mine To Raise Production |
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GFI
GOGOF
GFI - Gold Fields Limited - Gold Fields` Damang Gold Mine To Raise Production
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` DAMANG GOLD MINE TO RAISE PRODUCTION
Johannesburg, 30 April 2010: Gold Fields Limited (Gold Fields) (JSE, NYSE,
NASDAQ Dubai: GFI) is pleased to announce that its Damang Gold Mine in Ghana is
set to increase production significantly, following the successful construction
and commissioning of a new Secondary Crushing Plant.
The plant will allow Damang to increase the average head grade to its mill by
boosting the feed of harder, higher grade "fresh" ore and reducing the feed of
softer, lower grade oxide ore. As a result gold production at the mine is
forecast to increase up to 240,000 oz a year in the medium term. Current
production is around 200,000 oz.
Nick Holland, Chief Executive Officer said: "The installation of the secondary
crusher is an important step toward the transformation of Damang into a long-
life mine and we expect improved production over the next few quarters. It also
contributes to our strategy of increasing attributable production from our West
Africa Region to at least one million ounces a year over the next five years."
In order to feed the enhanced crushing and milling systems, exploration last
year has been refocused to find additional higher grade ore on the mine`s
property. These efforts have been successful and Damang is targeting a reserve
of at least two million ounces in the medium term.
"Our aim is to extend the life of Damang by at least 15 years to 2025," Holland
said.
Process design of the Secondary Crusher Project commenced early in 2009, while
construction of the plant started in November 2009. The crusher was completed in
April this year at a total cost of around US$12m.
- 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
Date: 30/04/2010 10:53:01 Produced by the JSE SENS Department.
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