Mining and Processing Suspended at All South African Operations
January 25 2008 - 4:52AM
PR Newswire (US)
JOHANNESBURG, South Africa, January 25 /PRNewswire-FirstCall/ --
Gold Fields Limited ("Gold Fields") (NYSE, JSE, DIFX: GFI) reports
all mining activities have been suspended at its South African
Operations. This is due to Eskom requesting their Key Industrial
Consumers (KIC) of which Gold Fields is one, to reduce its
consumption to the minimum load possible. This communication was
received yesterday evening. A decision was taken to put no shifts
down last night and no shifts were put down this morning. Eskom has
indicated that "KIC loads will be reduced to 'survival levels' or
switched out totally for the next two to four weeks." "This will
have a serious effect on the South African operations and will
negatively affect our gold production. The South African Operations
produce approximately 7000 ounces per day. We are looking at ways
to continue operations and will work closely with Eskom to try and
resolve this problem" said Ian Cockerill, Chief Executive Officer
of Gold Fields. About Gold Fields Gold Fields Limited is one of the
world's largest unhedged producers of gold with attributable
production of more than four million ounces per annum from eight
operating mines in South Africa, Ghana and Australia. A ninth mine,
the Cerro Corona Gold/Copper mine in Peru, is expected to commence
production by mid 2008 at an initial rate of approximately 400,000
gold equivalent ounces per annum. The company has total
attributable ore reserves of 92 million ounces and mineral
resources of 252 million ounces. Gold Fields employs some 47,000
permanent employees across its operations and is listed on the JSE
Limited South Africa (primary listing), the New York Stock Exchange
(NYSE) and the Dubai International Financial Exchange (DIFX). All
of Gold Fields' operations are ISO14001 certified. For more
information please visit the Gold Fields website at
http://www.goldfields.co.za/. DATASOURCE: Gold Fields Limited
CONTACT: Enquiries: Willie Jacobz, Tel: +27(0)11-644-2460, Mobile:
+27(0)82-493-1377
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