| Fri 1 Dec 2006, 17:47 | | NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES |
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GFI
GOGOF
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
Gold Fields - Acquires Barrick"s Stake In South Deep
Gold Fields Limited
(Reg. No.1968/004880/06)
(Incorporated in the Republic of South Africa)
JSE Share Code: GFI
NYSE Share Code: GFI
ISIN Code: ZAE000018123
("Gold Fields" or the "Company")
MEDIA RELEASE
GOLD FIELDS ACQUIRES BARRICK"S STAKE IN SOUTH DEEP
Johannesburg, December 1, 2006. Gold Fields Limited (Gold Fields) (NYSE, JSE,
DIFX: GFI) is pleased to announce that it has today completed the acquisition
of Barrick Gold Corporation"s 50% interest in the South Deep gold mine and
Barrick"s rights under the Joint Venture with Western Areas Limited, for a
consideration of $1.525 billion. The consideration comprises $1.20 billion cash
and 18,701,944 Gold Fields shares*.
In respect of the general offer made to Western Areas Limited ( WAL)
shareholders, Gold Fields announced on the 23rd of November that the offer had
become unconditional and was open for acceptance. The offer is not subject to
any minimum acceptance conditions.
Gold Fields confirms it has acquired 27 million WAL shares from JCI Limited
(JCI), and has also exercised the call option in respect of a further 9.96
million shares.
Ian Cockerill, the Chief Executive Officer of Gold Fields said:
"The conclusion of the Barrick deal and the acquisition of the JCI shares in
Western Areas is a significant milestone in our strategy of acquiring control of
the South Deep gold mine and bringing ownership of this asset home to South
Africa. The Barrick deal gives us effective control of the operations and allows
us to begin the process of realising the full potential of this world-class gold
asset.
The acquisition of South Deep represents further growth of the unique Gold
Fields franchise of "owning and operating a few large high quality long life
assets."
Ends
* The shares were valued at US$325m based on the volume weighted average ADR
trading price on the NYSE for the five trading days preceding the third Business
Day prior to the closing date.
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, DIFX, Euronext in
Paris and Brussels, and on the Swiss Exchange. All of Gold Fields" operations
are ISO 14001 certified.
These materials are not for distribution, directly or indirectly, in or into the
United States, Australia, Canada or Japan. These materials do not constitute or
form a part of any offer or solicitation to purchase or subscribe for securities
in the United States. The securities referred to herein may not be offered or
sold in the United States or to, or for the account or benefit of, US persons
(as such term is defined in Regulation S under the Securities Act) absent
registration under the Securities Act or pursuant to an exemption from the
registration requirements of the Securities Act. There will be no public offer
of securities in the United States.
Date: 01/12/2006 05:47:10 PM Produced by the JSE SENS Department
