Group overview

[ Mineral Resources and Mineral Reserves ]     Quality ore bodies with a strategic global spread

Strategic intent

The Gold Fields Limited Mineral Resource and Mineral Reserve reporting strategy is to ensure integrity and consistency in reporting, compliance with public and internal regulatory codes and to inform stakeholders on the status of the Group’s fundamental asset base. The Group is committed to continue pursuing value through exploration, acquisition and sustained delivery via organic growth within existing operations.

Tim Rowland Vice-President Technical, South Africa Region

	Attributable Mineral Resources increased by three per cent net of depletion
	Attributable Mineral Reserves decreased by four per cent net of depletion
	Higher Mineral Reserves at Agnew and Damang
	All South African operations now converted to new-order mining rights

Group overview

All Mineral Resource and Mineral Reserve numbers in this section are managed with respect to ownership, unless otherwise stated. The Mineral Resource and Mineral Reserve metal prices used in this declaration can be referenced in the statement table footnotes on page 89. The Mineral Resource and Mineral Reserve numbers are based on the June 2010 statement (June 2009 statement’s numbers are shown in brackets). The highlights of the June 2010 statement are:

• Gold Fields has total attributable precious metal Mineral Resources of 280.5 (271.2) million ounces and total attributable gold and copper-gold equivalent Mineral Reserves of 78.0 (81.1) million ounces. The figures include: (i) the Arctic Platinum, Canahuire goldcopper- silver, the Taldybulak gold-coppermolybdenum and the West Wits Tailings Treatment (WWTTP, excluding uranium) growth projects, and (ii) the Uncle Harry’s ground contiguous to the South Deep Mine. (The West Wits operations include Driefontein, Kloof and South Deep gold mines);
• Total attributable gold Mineral Resources (excluding platinum and other metal equivalents) are 254.6 (255.4) million ounces and Mineral Reserves are 75.9 (78.9) million ounces. Total attributable WWTTP and underground uranium Mineral Resources amount to 77.9 (77.1) million pounds;
• The South Africa Region has a declared attributable gold Mineral Resource (including WWTTP gold) of 225.9 (228.3) million ounces, down one per cent, and a gold Mineral Reserve of 61.7 (64.7) million ounces, down five per cent. Aside from the restated Upper Elsburg reef numbers above mine infrastructure (87– 110 level), South Deep figures remain as per the acquisition model;
• The West Wits Tailings Treatment project has a declared attributable surface uranium Mineral Resource of 53.3 (51.4) million pounds and a gold Mineral Resource of 4.5 (4.3) million ounces. The underground attributable uranium Mineral Resource for the West Wits operations has been estimated this year at 24.6 (25.7) million pounds;
• The West Africa Region has a declared attributable gold Mineral Resource of 14.2 (14.6) million ounces and a gold Mineral Reserve of 8.5 (8.9) million ounces;
• The Australasia Region has a declared attributable gold Mineral Resource of 10.9 (9.1) million ounces and a gold Mineral Reserve of 3.5 (3.0) million ounces;
• The South America Region (excluding growth projects) has a declared attributable gold Mineral Resource of 3.5 (3.4) million ounces and a gold Mineral Reserve of 2.2 (2.3) million ounces. Attributable copper Mineral Resources and Mineral Reserves are 1,253 (1,154) million pounds and 788 (797) million pounds respectively. The total attributable gold and copper-gold equivalent Mineral Resource and Mineral Reserve ounces are 7.0 (6.6) million ounces and 4.3 (4.5) million ounces respectively;
• At Cerro Corona, design changes to the tailing storage facility, have resulted in an increase of the current storage capacity by six million tonnes. This has compensated for the mining depletion in financial 2010;
• The Arctic Platinum Project (APP) Mineral Resource statement remains the same as historically reported (12.6 million ounces 2PGE+Au). Initial testwork on the amenability of APP ores to hydrometallurgical processing has been positive to date with significant improvements in precious and base metal project recoveries compared to previous studies. Further tests are ongoing to establish optimum flotation parameters for pilot plant testing. The preliminary metallurgical recoveries, as well as operating and capital cost estimates based on this testwork, have been used to generate indicative financial returns for the project. These indicative financial returns are positive;
• Joint venture partners, Gold Fields (51 per cent) and Compania de Minas Buenaventura (49 per cent), announced the discovery of a major gold-copper-silver deposit in the Canahuire area of their Chucapaca project area in southern Peru. A managed Inferred Mineral Resource for Canahuire of approximately 83.7Mt at 1.9 g/t gold, 0.1 per cent copper and 8.2 g/t silver for a total of 5.6 million gold equivalent (Au-Eq) ounces was declared (refer to statement table footnotes for metal prices used for gold equivalent computation); and
• Talas joint venture partners, Gold Fields (60 per cent) and Orsu Metals Corporation (40 per cent) updated the Mineral Resource for the Taldybulak gold-copper-molybdenum, porphyry deposit in Kyrgyzstan after drilling more than 20,000 meters in 2008 and 2009. The Mineral Resource is based on a scoping study of large open-pit mining. The managed Inferred portion of the Mineral Resource is approximately 296.0 Mt at 0.4 g/t gold, 0.2 per cent copper and 0.01 per cent molybdenum for 7.48 million gold equivalent ounces. The managed Indicated portion of the Mineral Resource is 127.0 Mt at 0.6 g/t gold, 0.2 per cent copper and 0.01 per cent molybdenum for 4.23 million gold equivalent ounces. The managed Inferred and Indicated Mineral Resource is 423.0 Mt at 0.5 g/t gold, 0.2 per cent copper and 0.01 per cent molybdenum for 11.71 million gold equivalent ounces (refer to statement table footnotes for metal prices used for gold equivalent computation).

Attributable Mineral Resources (million Au-Eq oz)		Attributable Mineral Reserves (million Au-Eq oz)	Surveyors at work, South Deep