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Gold Fields Reports Increase in Mineral Resources and Reserves
Gold Fields Limited
JSE Share code: GFI
ISIN: ZAE000018123
MEDIA RELEASE
Johannesburg, 2 October 2003: Gold Fields Limited (GFI - NYSE and JSE) announces
increases in both its Mineral Resources and Reserves for fiscal year ending 30
June, 2003.
Attributable Resources have increased from 186.0 to 195.3 million ounces,
including the Arctic Platinum Project in Finland. Attributable Reserves have
increased by 3.0 million ounces to 81.5 million ounces.
Ian Cockerill, Chief Executive Officer of Gold Fields said: "To end the year
with a net gain of 3 million reserve ounces, and to offset the 4.7 million
ounces we depleted, means that we actually found 7.7 million ounces of new
reserves during the year. This reflects well on the increased focus on organic
growth and exploration within Gold Fields."
Gold Fields spends approximately US$70 million a year on exploration worldwide.
Of this, approximately US$30 million is spent on brownfields exploration on or
near existing mining properties, where the new reserves were found.
Gold Fields reports its Mineral Resources and Reserves in accordance with the
South African Code for the Reporting of Mineral Resources and Mineral Reserves
(SAMREC Code). The code has been incorporated into the rules of the JSE
Securities Exchange South Africa regarding listing requirements and continuing
obligations. In addition Gold Fields has written and implemented an additional
internal code of practice that takes cognisance of the diverse nature of its
operations and considers the requirements of all internationally recognised
codes, including industry Guide 7 as interpreted by the Staff of the US
Securities Exchange Commission.
A comprehensive Resources and Reserves Statement can be found on the Company"s
website at www.goldfields.co.za or in its recently published annual report for
2003 which was mailed to all shareholders and is available upon request.
COMPARISON OF F2002 AND F2003 RESOURCES AND RESERVES
Resource Reserve
GOLD Mill Gra- Gold Gold Attribu Mill Head Gold Gold
Tons de (000 (000 table % Tons Grade (000 (000 oz)
(Mt) (g/t oz) oz) (Mt) (g/t) oz) F2002
) F2003 F2002 F2003
Drief- 148.5 11.0 52 616 49 623 100 108.8 7.7 27 102 27 651
ontein
Kloof 207.9 13.0 86 979 84 261 100 106.0 9.1 31 092 29 974
Beat- 132.4 5.4 23 069 21 539 100 77.2 4.9 12 186 12 496
rix
SA 488.8 10.4 162 664 155 423 292.0 7.5 70 380 70,121
Oper-
ations
*
Tarkwa 471.9 1.5 22 309 18 890 71.1 232.0 1.3 9 828 6 530
Damang 27.9 1.7 1 516 1 765 71.1 17.3 1.7 919 1 189
St 87.0 2.6 7 295 6 742 100 28.2 3.3 2 989 2 336
Ives
Agnew 12.7 5.4 2 198 1 810 100 2.6 6.4 535 601
Inter- 599.4 1.7 33 318 29 207 280.1 1.6 14 271 10 656
natio-
nal
Operat
ions
Total 1 088.1 5.6 195 982 184,630 572.1 4.6 84 650 80,777
Gold
Field
s
PLATI- Tons 2 2 PGE +
NUM (Mt) PGE Au
+Au (000 oz)
g/t
)
Arctic 156.7 2.4 12 213 14 400 51
Plati-
num
Total 1 244.8 208 195 199,030 572.1 84 650 80,777
Prec-
ious
Metals
Total 1023.6 195 325 186,005 500.1 81 544 78 546
attri-
butable
to Gold
Fields
Statement excludes St Helena which was sold on the 29 October 2002.
ends
Date: 02/10/2003 11:10:03 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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