Gold Fields Reports Sufficient Power Supply for Maintenance Work but Not for Production
January 28 2008 - 10:59AM
PR Newswire (US)
JOHANNESBURG, South Africa, January 28 /PRNewswire-FirstCall/ --
Further to the press release issued on Friday, January 25, Gold
Fields Limited ("Gold Fields") (NYSE:GFI)(JSE:GFI)(DIFX: GFI)
reports that its power supply has been restored to 71% of total
average consumption. Fifty percent of Gold Fields' normal
electrical consumption is required simply to pump, ventilate and
refrigerate its operations. The amount currently available is
sufficient for essential maintenance, pumping, ventilation,
refrigeration, opening up faces and making safe, but not for
production or beneficiation purposes, as agreed with Eskom. This
situation will be maintained until at least Wednesday at which time
a further meeting will be held with Eskom and other stakeholders
with a view to increasing sustainable power supply from the current
71%, and a commensurate resumption of production. Shareholders will
be informed of any new developments as they occur. 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 Jacobsz,
Tel: +27(0)11-644-2460, Mobile: +27(0)82-493-1377.
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