Gold Fields Announces Mineral Resources of 179.3 Million Ounces and Ore Reserves of 65.3 Million Ounces
May 17 2006 - 8:36AM
PR Newswire (US)
JOHANNESBURG, May 17 /PRNewswire-FirstCall/ -- Gold Fields Limited
(Gold Fields) (NYSE:GFI)(JSE:GFI) today published its Mineral
Resource and Ore Reserve Statement for the six month period ended
on 31 December 2005. This represents a change in the reporting
cycle, from June 30 to December 31, in order to align with the
Group's financial reporting schedule. Mineral Resources, inclusive
of Ore Reserves, increased by 3% to 179,343 million ounces and Ore
Reserves by 1% to 65,319 million ounces, both numbers net of
depletion. Ian Cockerill, Chief Executive Officer of Gold Fields
said: "We are pleased that we have again been able to replace the
reserves that we have mined, and to increase our overall resource
and reserve position, despite having to use a SEC mandated 3 year
trailing average gold price, which is considerably below prevailing
spot prices." "Conservatively estimated, if a spot price of
R130,000 per kilogram was used for this declaration, the reserves
at our South African operations would have been about 9.5 million
ounces higher." Mineral Resources were calculated using a gold
price of R105,000 per kilogram in South Africa; A$650 in Australia;
and US$475 in Ghana and Peru. Ore Reserves were calculated using a
gold price of R92,000 per kilogram in South Africa; A$560 in
Australia; and US$400 in Ghana and Peru. The full Mineral Resource
and Ore Reserve Declaration is available on the Gold Fields Website
at http://www.goldfields.co.za/. Gold Fields is one of the world's
largest unhedged gold producers, with annual gold production of
approximately 4.2 million ounces from mines in South Africa, Ghana,
Australia and Australia, as well as a developing mine at Cerro
Corona in Peru. The Company has reserves of 65 million ounces and
mineral resources of 179 million ounces. Gold Fields has its
primary listing on the Johannesburg Securities Exchange and
secondary listings on the NYSE, LSE, Euronext in Paris and
Brussels, and on the Swiss Exchange. All of Gold Fields' operations
are ISO 14001 certified. DATASOURCE: Gold Fields Limited CONTACT:
Enquires: South Africa, Willie Jacobsz, Tel: +27-11-644-2460, Fax:
+27-11-484-0639, . Nerina Bodasing, Tel: +27-11-644-2630, Fax:
+27-11-484-0639, . North America, Cheryl A Martin, Tel:
+1-303-796-8683, Fax: +1-303-796-8293,
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