JOHANNESBURG, April 10, 2015 /CNW/ - Gold Fields Limited (Gold
Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce that
it has reached a three-year wage and other conditions of employment
agreement with its registered trade unions at its South Deep mine
in South Africa.
The agreement, which was signed with the National Union of
Mineworkers and UASA today, will result in average annual wage
increases of 10% over the three-year period of the deal. The first
increase will take effect on 1 April
2015.
The negotiations took place at a company-level in recognition of
South Deep's significantly different operating model and labour
profile to that of the other gold mining companies in South Africa. South Deep is the only fully
mechanised gold mining operation in South
Africa and it employs a small, skilled complement of
approximately 3,500 employees.
As such, Gold Fields has had to give due consideration to the
scarcity of mechanised mining skills in South Africa and has taken a holistic approach
in its negotiations with labour.
Notes to editors
About Gold Fields
Gold Fields Limited is an unhedged, globally diversified
producer of gold with eight operating mines in Australia, Ghana, Peru
and South Africa with attributable
annual gold production of approximately 2.2 million ounces. It has
attributable Mineral Reserves of around 48 million ounces and
Mineral Resources of around 108 million ounces. Attributable copper
Mineral Reserves total 620 million pounds and Mineral Resources
6,873 million pounds. Gold Fields has a primary listing on the JSE
Limited, with secondary listings on the New York Stock Exchange
(NYSE), NASDAQ Dubai Limited and the Swiss Exchange (SWX).
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
SOURCE Gold Fields Limited, South
Africa