Integrated Annual Review 2012 Annual Financial Report 2012 Mineral Resources and Mineral Reserves Regional overview  
 

6.4.2 Corporate governance

The Group’s December 2012 Mineral Resource and Mineral Reserve statement is compliant with the South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (the SAMREC Code, 2007 edition) and Industry Guide 7 for reporting to the United States Securities and Exchange Commission (SEC). Other relevant international codes are recognised, where geographically applicable, such as the Australian Joint Ore Reserves Committee (JORC 2012) Code and Canadian National Instrument (NI) 43-101.

In line with our commitment to sound corporate governance, this statement has been internally reviewed by Group Technical Services (GTS) and, where applicable, by leading independent mining consultancies, and has been found to be compliant with the relevant codes. The procedure followed in producing the declaration is aligned to the guiding principles of the Sarbanes- Oxley (SOX) Act of 2002.

In Figures 6.5 and 6.6 the Mineral Resource and Mineral Reserve statement as at 31 December 2012 is compared to the 31 December 2011 declaration.

The Mineral Resource and Mineral Reserve figures are estimates at a point in time, and will be affected by fluctuations in the gold price, US Dollar currency exchange rates, costs, mining permits, changes in legislation and operating factors.

Although all permits may not be finalised and in place at the time of reporting, there is no reason to expect that these will not be granted. However, the length of the approval process for such permits may have an impact on the schedules stated. All financial models are based on current tax regulations at 31 December 2012.

All figures are managed unless otherwise stated and Mineral Resources are reported inclusive of Mineral Reserves and stability pillars, while production volumes are reported in metric tonnes (t).

The respective operation-based Mineral Resource Managers and relevant Project Managers have been designated as the Competent Persons in terms of SAMREC, and take responsibility for the reporting of Gold Fields Mineral Resources and Mineral Reserves. Corporate governance on the overall compliance of these figures has been overseen and consolidated by Kevin Robertson. Group Head of Mine Planning and Mineral Resource Management. He has 27 years' experience in the mining industry and is a permanent employee of Gold Fields Group Services.

Additional information regarding the teams involved with the compilation of the Mineral Resource and Mineral Reserve declaration is incorporated in the respective Technical Short Form Reports.