GFI
GOGOF
Gold Fields - SA Competition Tribunal gives permission to proceed with its
proposed acquisition of Western Areas Limited
Gold Fields Limited
Share Code: GFI
ISIN: ZAE000018123
MEDIA RELEASE
South African Competition Tribunal gives Gold Fields permission to proceed with
its proposed acquisition of Western Areas Limited.
Johannesburg, November 22, 2006. Gold Fields Limited (Gold Fields) (NYSE, JSE,
DIFX: GFI) is pleased to announce that the South African Competition Tribunal
today gave Gold Fields permission to proceed with its proposed acquisition of
Western Areas Limited and Barricks" share of the South Deep Gold Mine.
Ian Cockerill, Chief Executive Officer of Gold Fields, said: "We are delighted
that all conditions precedent have now been met and that we can move towards the
successful completion of these transactions."
"Following today"s ruling we can close the transaction with Barrick Gold through
which we will acquire their 50% stake in South Deep. Western Areas shareholders
can now also accept Gold Fields" offer in terms of which we aim to acquire all
of those Western Areas shares which we do not already own", said Cockerill.
"The South Deep gold mine fits naturally with Gold Fields" portfolio of high
quality, long-life assets. It makes commercial and operational sense for South
Deep to be in the Gold Fields stable as our expertise and experience will enable
us to extract maximum value for all stakeholders, in line with our long-term
strategy of sustainable growth", added Cockerill.
Gold Fields is one of the world"s largest unhedged gold producers, with annual
gold production of approximately 4.1 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.
23 November 2006
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Date: 23/11/2006 08:49:05 AM Produced by the JSE SENS Department
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