INVESTORS AND MEDIA Media releases
Johannesburg, 29 March 2016: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) is pleased to announce that it has concluded a development agreement with the Government of Ghana for both the Tarkwa and Damang mines. The highlights of the agreement include:
|Royalty rate||Gold price|
|3.0%||US$0 - 1,300/oz|
|3.5%||US$1,300 - 1,449.99/oz|
|4.0%||US$1,450 - 2,299.99/oz|
|5.0%||US$2,300/oz - unlimited|
The term of the agreement, effective from 17 March 2016, will be for a period of 11 years for Tarkwa and nine years for Damang, each renewable for an additional five years.
Ghana continues to be a key region for Gold Fields and we commend the Government of Ghana for creating a fair and competitive environment in the country.