Gold Fields Limited - Media release for distributi
GFI
GOGOF
Gold Fields Limited - Media release for distribution
Gold Fields Limited
Share Code: GFL
Isin: ZAE000014270
MEDIA RELEASE
Power shortages in Ghana
Johannesburg, August 31, 2006. Gold Fields Limited (Gold Fields) (NYSE: GFI;
JSE: GFI) said today that Gold Fields Ghana (GFG) has been advised by the Volta
River Authority (VRA) to reduce its power consumption by approximately 50 per
cent due to low water levels in the Volta Dam which are affecting hydro-electric
power generation in Ghana. GFG operates the Tarkwa and Damang mines situated in
south western Ghana.
GFG has the capacity to reduce its portion of electricity consumption from grid
power through utilizing emergency diesel powered generators situated at the
Damang and Tarkwa mines. Operating all of this generating capacity over a full
month would add a total of approximately US$4 million to operating costs.
GFG will continue its discussions, through the Ghanaian Chamber of Mines, with
the VRA to help mitigate potential disruptions to power supply. In addition,
GFG are assisting the VRA in expediting the rewind and return of a generator
rotor for the thermal powered Aboadze Power Station in Takoradi. The VRA has
said it will continue to monitor the situation and review it on a fortnightly
basis.
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 Venezuela, as well as a developing mine at Cerro Corona in
Peru. The Company has ore 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.
ends
31 August 2006
Enquiries:
Andrew Davidson
+27 11 644-2638
Nerina Bodasing
+27 11 644-2630
Cheryl Martin
(303) 796-8683
Date: 31/08/2006 05:32:22 PM Produced by the JSE SENS Department
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