JOHANNESBURG, Oct. 2 /CNW/ - Gold Fields Limited ("Gold Fields") (NYSE,
JSE, DIFX: GFI) today announced that it has entered into an agreement with
Bateman Engineering N.V. to sell its BIOX Technology Business to Bateman
Engineering for a net cash consideration of US$8.84 million.
The BIOX business is the owner of a proprietary and patented technology,
known as the BIOX process, which is used for the pre-treatment of refractory
ores and concentrates prior to gold recovery through conventional cyanide
leaching techniques. Included in the sale is a second technology, currently in
development, for the efficient removal of thiocyanate and cyanide from leach
solutions. The technology, known as ASTER (Activated Sludge Tailings Effluent
Remediation), is currently undergoing pilot plant testing and if commercially
viable could be applied to many conventional gold processing plants worldwide.
As part of the transaction Bateman will be acquiring Biomin Technologies
SA, a Swiss registered entity, holder of the relevant intellectual property,
patents and trademarks, as well as the majority of the related licensing
agreements with the mining companies that make use of the technology.
Gold Fields has chosen to dispose of this business as it does not form
part of its core business activities. A focused engineering and technology
company such as Bateman is better placed to develop BIOX and its related
technologies to their full potential.
The transaction is conditional, inter alia, upon the approval of the
South African Reserve bank
About Gold Fields
Gold Fields Limited is one of the world's largest unhedged producers of
gold with attributable production of 3.64 million ounces per annum from eight
operating mines in South Africa, Ghana and Australia. A ninth mine, Cerro
Corona Gold/Copper mine in Peru, commenced production in August 2008 at an
initial rate of approximately 375,000 gold equivalent ounces per annum. The
company has total attributable ore reserves of 83 million ounces and mineral
resources of 251 million ounces. Gold Fields is listed on JSE Limited (primary
listing), New York Stock Exchange (NYSE), Dubai International Financial
Exchange (DIFX),Euronext in Brussels (NYX) and SWX Swiss Exchange (SWX).
For further information:
For further information: Willie Jacobsz, Tel (508) 358-0188, Mobile