Integrated annual review

Gold Fields published the Integrated Annual Review 2013 and the statutory Annual Financial Report 2013 on 31 March 2014.

The Integrated Annual Review and the Annual Financial Report incorporate all aspects of the Group’s business, including reviews of the South African, West African, Australasian and South American operations, the Group’s exploration activities, as well as detailed financial, operational and sustainable development information.

KPMG audited the results and their unqualified audit report is open for inspection at the company’s offices.

An abridged report was not published as the information previously published in the reviewed preliminary condensed consolidated results on 13 February 2014 did not change.

The Integrated Annual Review (plus supporting online information), the Notice to the Annual General Meeting and the Annual Financial Report are available at www.goldfields.com.

Form 20-F filing

On 29 April 2014 Gold Fields filed its annual report on Form 20-F for the year ended 31 December 2013 with the US Securities and Exchange Commission. The document is available on the Gold Fields website.

Native Claim

St Ives Gold Mining Company (Pty) Limited (St Ives), a subsidiary in the Group which owns the St Ives Gold mine in Western Australia successfully applied in December 2013 to be joined as a respondent party to proceedings brought in the Federal Court of Australia (the Court) by the Ngadju People for the purpose of that group seeking the determination of their native title rights over a wide area of land in the Goldfields region of Western Australia, which includes a number of mining tenements held by St Ives and transferred from Western Mining Corporation (WMC) in 2001.

The Proceedings (brought under the provisions of the Native Title Act 1993 (Cth)) have been run in two parts. In the first part, the Court made an interim finding (upheld on appeal by the State) that the Ngadju People have the requisite connection to land in order to hold native title. In the second part of the Proceedings, the Court has to decide the effect of certain interests (including mining interests) on native title (for example, whether or not native title is “extinguished” by the grant of those interests). It is this aspect of the Proceedings which directly involves St Ives.

There are a number of other respondent parties to the Proceedings who have interests within the claim area. They include other government entities (including the Commonwealth of Australia), pastoralists, and mining companies (including BHP Billiton Nickel West (Pty) Limited (Nickel West)). The Ngadju People have alleged that a number of tenements held by St Ives (and Nickel West) are invalid as against their native title interest, because the correct processes under the Native Title Act were not followed in relation to various dealings in relation to the tenements between 2001 and 2008, including the renewal and replacement of certain tenements.

The process that the Ngadju People allege was not followed is the “right to negotiate”. The right to negotiate requires the native title party, the State and the party obtaining the interest (in this case, St Ives) to negotiate and reach agreement prior to the grant of certain interests which affect native title. As a result, the Ngadju People claim that the tenements are invalid from a native title perspective. This does not, however, affect the validity of the underlying mining tenure.

The matter was heard by a single judge of the Federal Court on 5 to 6 March 2014. Gold Fields was represented by Senior Counsel, and vigorously defended its position, submitting that the relevant dealings did not require the right to negotiate to be followed, and that the tenements were, accordingly valid. The decision is not expected to be handed down for between six and 12 months. Any decision can thereafter be appealed by any of the parties to the full Federal Court. Significantly, the Claimants have conceded in the course of the proceedings that historical petroleum tenure which existed over the entire claim area (including St Ives’ tenements), has extinguished its right of “exclusive possession native title”. This means that in the event of an adverse finding against Gold Fields (which is upheld on appeal), the Claimants do not have the right to enforce a right of exclusive possession over the area (to the exclusion of St Ives).

SEC investigation

Gold Fields Limited has been informed that it is the subject of a regulatory investigation in the United States by the US Securities and Exchange Commission relating to the Black Economic Empowerment transaction associated with the granting of the mining license for its South Deep operation. Given the early stage of this investigation, it is not possible to determine what the ultimate outcome of this investigation, any regulatory findings and any related developments may have on the Company. Accordingly, no adjustment for any effects on the Company that may result from the outcome of this investigation, if any, has been made in the consolidated financial statements.