This is Gold Fields Our history 2004-2007-120-years

Our history 2004 – 2007


South Africa celebrates 10 years of true democracy. At the same time, Norilsk of Russia acquires Anglo American’s 20% share in Gold Fields, while Black Economic Empowerment group, Mvelaphanda Resources, acquires a 15% stake – satisfying the first stage of ownership conditions in the Mining Charter. Gold Fields becomes the inaugural member of the Johannesburg Stock Exchange’s Socially Responsibility Index. Meanwhile, President Kufuor of Ghana attends the opening of the new carbon-in-leach plant at Tarkwa, which recovers 96% of the gold processed – thus extending the life of the mine by 15 years. During this time, Harmony Gold launches a fiercely-contested hostile takeover bid for Gold Fields.


The High Court rules that an attempted hostile takeover by Harmony Gold has lapsed – and that it is precluded from making any further offers for 12 months. Driefontein marks a world first, having produced 100 million ounces of gold since its opening in 1952.


Gold Fields announces a major R26 billion investment in the long-term future of gold mining in South Africa. This is focused on shaft-deepening at Kloof and Driefontein – as well as the R21 billion acquisition of the nearby South Deep mine, containing the world’s largest unexploited gold deposit. In Ghana, Gold Fields also announces a US$175 million plan to expand the carbon-in-leach plant and heap leach capacity at Tarkwa. This is with the aim of extending production of 700,000 ounces a year to 2021. In addition, Gold Fields acquires the Choco 10 mine in Venezuela, while construction begins on the Cerro Corona mine in Peru. Gold Fields launches its dynamic Business and Leadership Academy in South Africa, elevating ‘people development’ to a core business strategy. Meanwhile a US$5 million sponsorship deal with Ghana’s Black Stars national football team helps propel the side to the second round of the World Cup in Germany.


Gold Fields celebrates its 120th birthday at the Johannesburg Country Club. At the same time, the Choco 10 mine in Venezuela is sold off.