| Wed 17 May 2006, 12:15 | | Gold Fields announces Mineral Resources of 179.3 m |
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GFI
GOGOF
Gold Fields announces Mineral Resources of 179.3 million ounces and Ore Reserves
of 65.3 million ounces
Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
Share Code: GFI
ISIN Code: ZAE000018123
MEDIA RELEASE
Gold Fields announces Mineral Resources of 179.3 million ounces and Ore Reserves
of 65.3 million ounces
Johannesburg, 17 May 2006: Gold Fields Limited (Gold Fields) (NYSE: GFI; JSE:
GFI) today published its Mineral Resource and Ore Reserve Statement for the six
month period ended on 31 December 2005. This represents a change in the
reporting cycle, from June 30 to December 31, in order to align with the Group"s
financial reporting schedule.
Mineral Resources, inclusive of Ore Reserves, increased by 3% to 179,343 million
ounces and Ore Reserves by 1% to 65,319 million ounces, both numbers net of
depletion.
Ian Cockerill, Chief Executive Officer of Gold Fields said:
"We are pleased that we have again been able to replace the reserves that we
have mined, and to increase our overall resource and reserve position, despite
having to use a SEC mandated 3 year trailing average gold price, which is
considerably below prevailing spot prices."
"Conservatively estimated, if a spot price of R130,000 per kilogram was used for
this declaration, the reserves at our South African operations would have been
about 9.5 million ounces higher."
Mineral Resources were calculated using a gold price of R105,000 per kilogram in
South Africa; A$650 in Australia; and US$475 in Ghana and Peru.
Ore Reserves were calculated using a gold price of R92,000 per kilogram in South
Africa; A$560 in Australia; and US$400 in Ghana and Peru.
The full Mineral Resource and Ore Reserve Declaration is available on the Gold
Fields Website at www.goldfields.co.za.
Gold Fields is one of the world"s largest unhedged gold producers, with annual
gold production of approximately 4.2 million ounces from mines in South Africa,
Ghana, Australia and Australia, as well as a developing mine at Cerro Corona in
Peru. The Company has reserves of 65 million ounces and mineral resources of 179
million ounces. Gold Fields has its primary listing on the Johannesburg
Securities Exchange and secondary listings on the NYSE, LSE, Euronext in Paris
and Brussels, and on the Swiss Exchange. All of Gold Fields" operations are ISO
14001 certified.
17 May 2006
Date: 17/05/2006 12:15:36 PM Produced by the JSE SENS Department
