JOHANNESBURG, April 3, 2013 /CNW/ - Gold Fields Limited (Gold
Fields) (JSE, NYSE, NASDAQ Dubai: GFI), regrets to report that
employees at its Tarkwa and Damang mines in Ghana, in which it has a 90% interest, have
today, at approximately 11.00am
(Ghana time), embarked on illegal
industrial action which has led to production at both mines being
stopped.
This follows after the Ghana Mineworkers Union (GMU) and its
affiliates, the Professional Managerial Staff Union and the Branch
Union, yesterday presented management at both mines with a number
of demands, and threatened industrial action should the company not
respond favourably to the demands within 24 hours.
The demands relate to a dispute in the determination of profit
share payments to employees; the unconditional reinstatement of an
employee who was dismissed following an internal disciplinary
procedure; dissatisfaction with certain management structures; the
removal of certain members of senior management; concerns about
catering delivery models; and allegations of discrimination between
expatriate and Ghanaian employees.
Gold Fields is analysing and investigating the demands as a
matter of urgency. The company also appeals to all employees to
maintain law and order while this process is underway as the safety
and security of all employees is of primary importance.
The company holds the view that the industrial action is illegal
and unprotected. This could expose participating workers to the
no-work, no-pay rule as well as possible dismissal.
Notes to editors
About Gold Fields
Gold Fields is a significant unhedged producer of gold with
attributable annualised production of 2.1 million gold equivalent
ounces from six operating mines in Australia, Ghana, Peru
and South Africa. Gold Fields also
has an extensive and diverse global growth pipeline with four major
projects at resource development and feasibility level. Gold Fields
International has total managed gold-equivalent Mineral Reserves of
64 million ounces and Mineral Resources of 155 million ounces. Gold
Fields is listed on the JSE Limited (primary listing), the
New York Stock Exchange (NYSE),
NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX).
In February 2013, Gold Fields
unbundled its KDC and Beatrix mines in South Africa into a separately listed company,
Sibanye Gold.
Sponsor: J.P. Morgan Equities Limited
SOURCE Gold Fields Limited