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Update for financial year ended December 2011 and Q4 2011

Wednesday, 18 January 2012

Johannesburg, 18 January 2012: Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) has announced that attributable Group production for the financial year ended December 2011 (FY 2011) is expected to be 3.49 million gold equivalent ounces.

Total cash cost for FY 2011 is expected to be approximately US$800/oz (R185,000/kg) and notional cash expenditure (NCE) approximately US$1,180/oz (R275,000/kg), both of which are lower than the guidance given on 10 November 2011 for total cash costs of US$810/oz (R187,000/kg) and NCE of US$1,200/oz (R277,000/kg).

Group attributable production for the December quarter (Q4 2011) is expected to be 883,000 gold equivalent ounces, which is 1.9% lower than the previous quarter (Q3 2011: 900,000 gold equivalent ounces). The lower production for Q4 2011 is as a result of production disruptions in Ghana due to power outages and a slower milling rate at Tarkwa, due to harder material associated with a change in the blend of material fed to the plant. In the South Africa region production was impacted by stop and fix interventions at Beatrix and a lower underground grade at South Deep due to changes in the mining mix needed to increase flexibility. Gold equivalent production at Cerro Corona, in Peru, was adversely impacted by the lower copper price relative to the gold price in Q4 2011.

Costs during the quarter were well contained with total cash cost expected to be approximately US$770/oz (R200,000/kg) and NCE approximately US$1,210/oz (R315,000/kg).

Gold Fields' quarterly results as well as results for the financial year ended December 2011 will be released on Friday, 17 February 2012.

 


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