JOHANNESBURG, South Africa, Dec. 10 /CNW/ - Gold Fields Limited ("Gold
Fields") (NYSE, JSE, DIFX: GFI) on Friday, 7 December 2007, published an
updated interim Ore Reserve Statement as at 30 June 2007, as part of its 20F
filing and in compliance with NYSE and SEC requirements.
Total attributable Ore Reserves (inclusive of copper as gold equivalents)
decreased by 2% to 91.6 (93.8) million ounces.
The updated Ore Reserves took account of increased costs and a higher
gold price. Attributable depletion accounted for 2.2 million ounces, while
lower pay limits, limited remodelling and discoveries contributed an
additional 0.3 million ounces. A full remodelling and rescheduling exercise
was not undertaken for this interim statement, as this will be done for the
June 2008 declaration. The table below compares the June 2007 Reserves with
those of December 2006.
Ore Reserves were calculated using gold prices of R120,000/kg in South
Africa; A$715/oz in Australia; and US$550/oz in Ghana, Venezuela and Peru, in
line with the SEC guidelines. The copper price was kept constant at 1.25
US$/lb and as a result the equivalent gold ounces decreased by 0.25 million.
An external independent auditor has confirmed that the Reserves are classified
according to the SAMREC Code.
The comparison of ore reserves between December 2006 and June 2007 is
available on the Gold Fields at http://www.goldfields.co.za.
Gold Fields Limited is one of the world's largest unhedged producers of
gold with attributable production of 4.0 million ounces per annum, total
attributable ore reserves of 92 million ounces and mineral resources of 252
million ounces. The Group employs some 47,000 permanent employees across its
operations and is listed on the JSE Limited South Africa (primary listing),
the New York Stock Exchange (NYSE) and the Dubai International Financial
For further details refer to the 20-F form as lodged with the SEC
For further information:
For further information: Willie Jacobsz, Tel +27-11-644-2460, Fax
+27-11-484-0639, Mobile +27(0)82-493-1377, Williej@goldfields.co.za