JOHANNESBURG, July 31, 2018 /CNW/ - Gold Fields Limited (Gold
Fields) (JSE, NYSE: GFI) is pleased to announce the completion of
the Joint Venture transaction with Asanko Gold (Asanko), with Gold
Fields acquiring a 50% stake in Asanko's 90% interest in the Asanko
Gold Mine in Ghana.
Gold Fields is expected to equity account its share in the Joint
Venture, with attributable production and costs incorporated into
the Group numbers from completion. Asanko's published guidance for
2019-2023 is average annual production of 253koz (100% basis).
Gold Fields and Asanko have established various working groups
to ensure that the Asanko Gold Mine continues to operate in an
efficient manner.
Nick Holland, CEO, said: "The
closing of the transaction with Asanko gives us exposure to a great
camp, with long-life, low-cost production, with significant
exploration potential in a country we know well and have operated
in for 25 years."
"The Joint Venture bolsters the Ghana region, with Tarkwa providing the base
load production and Damang providing growth through the
reinvestment plan currently underway. We look forward to working
closely with our new partners," he added.
Notes to editors
About Gold Fields
Gold Fields Limited is a globally diversified gold producer with
seven operating mines in Australia, Ghana, Peru
and South Africa, and a total
attributable annual gold-equivalent production of approximately 2.2
million ounces. It has attributable gold Mineral Reserves of
around 49 million ounces and gold Mineral Resources of around 104
million ounces. Attributable copper Mineral Reserves total 764
million pounds and Mineral Resources 4,881 million pounds.
Gold Fields has a primary listing on the Johannesburg Stock
Exchange (JSE) Limited, with secondary listings on the New York
Stock Exchange (NYSE) and the Swiss Exchange (SIX).
http://www.goldfields.com
SOURCE Gold Fields Limited