GOGOF
Gold Fields Takes Out Arctic Platinum
MEDIA RELEASE
GOLD FIELDS LIMITED
Incorporated in the Republic of South Africa
Registration number 1968/004880/06
ISIN: ZAE000018123
Share Code: GFI Issuer Code: GOGOF
Gold Fields Takes Out Arctic Platinum
Johannesburg, 8 August 2003: Gold Fields Limited (JSE & NYSE - GFI) today
announced that it would exercise its pre-emptive right to acquire Outokumpu"s
49% stake in the Arctic Platinum Project in Finland, in which Gold Fields
already holds the majority share of 51%.
The Arctic Platinum partnership agreement between Gold Fields and Outokumpu
contains the right of pre-emption in favour of both parties in respect of any
intended disposals by either party of their interest in the Arctic Platinum
project. In terms of this arrangement Gold Fields will pay US$31 million, made
up of cash of US$23 million and Gold Fields shares worth US$8 million.
John Munro, Senior Vice President for International Operations, Gold Fields
said: "By exercising this pre-emptive right Gold Fields has secured for its
shareholders full control over one of the most significant PGM fields outside of
South Africa. There are a number of development options for this project that
are under review at the moment."
The Arctic Platinum Project is an advanced stage PGM exploration project in
Northern Finland. To date approximately 14 million ounces of PGM resources have
been delineated on the site.
end
Enquiries
South Africa
Andrew Davidson
+2711 644-2638
Nerina Bodasing
+2711 644-2630
North America
Cheryl Martin
+303 796-8683
Date: 11/08/2003 08:23:04 AM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
