Gold Fields to Sell BIOX Technology Business
October 02 2008 - 2:49AM
PR Newswire (US)
JOHANNESBURG, October 2 /PRNewswire-FirstCall/ -- Gold Fields
Limited ("Gold Fields") (NYSE, JSE, DIFX: GFI) today announced that
it has entered into an agreement with Bateman Engineering N.V. to
sell its BIOX Technology Business to Bateman Engineering for a net
cash consideration of US$8.84 million. The BIOX business is the
owner of a proprietary and patented technology, known as the BIOX
process, which is used for the pre-treatment of refractory ores and
concentrates prior to gold recovery through conventional cyanide
leaching techniques. Included in the sale is a second technology,
currently in development, for the efficient removal of thiocyanate
and cyanide from leach solutions. The technology, known as ASTER
(Activated Sludge Tailings Effluent Remediation), is currently
undergoing pilot plant testing and if commercially viable could be
applied to many conventional gold processing plants worldwide. As
part of the transaction Bateman will be acquiring Biomin
Technologies SA, a Swiss registered entity, holder of the relevant
intellectual property, patents and trademarks, as well as the
majority of the related licensing agreements with the mining
companies that make use of the technology. Gold Fields has chosen
to dispose of this business as it does not form part of its core
business activities. A focused engineering and technology company
such as Bateman is better placed to develop BIOX and its related
technologies to their full potential. The transaction is
conditional, inter alia, upon the approval of the South African
Reserve bank About Gold Fields Gold Fields Limited is one of the
world's largest unhedged producers of gold with attributable
production of 3.64 million ounces per annum from eight operating
mines in South Africa, Ghana and Australia. A ninth mine, Cerro
Corona Gold/Copper mine in Peru, commenced production in August
2008 at an initial rate of approximately 375,000 gold equivalent
ounces per annum. The company has total attributable ore reserves
of 83 million ounces and mineral resources of 251 million ounces.
Gold Fields is listed on JSE Limited (primary listing), New York
Stock Exchange (NYSE), Dubai International Financial Exchange
(DIFX),Euronext in Brussels (NYX) and SWX Swiss Exchange (SWX).
http://www.goldfields.co.za/ DATASOURCE: Gold Fields Limited
CONTACT: Enquires: Willie Jacobsz, Tel +1-508-358-0188, Mobile
+1-857-241-7127
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