Gold Fields Welcomes Norilsk as Largest Shareholder
March 29 2004 - 11:11AM
PR Newswire (US)
Gold Fields Welcomes Norilsk as Largest Shareholder JOHANNESBURG,
South Africa, March 29 /PRNewswire-FirstCall/ -- Gold Fields
Limited was today informed that Anglo American plc had sold its 20%
stake in Gold Fields to MMC Norilsk Nickel, through its wholly
owned subsidiary Norimet Limited ("Norilsk"). Norilsk is a producer
of base and precious metals, with its main products being Nickel
and Palladium. Norilsk also produces copper, cobalt, platinum,
gold, silver and other precious metals. Norilsk is headquartered in
Moscow and is listed in Moscow as well as via ADR programmes in New
York, London and Berlin. Ian Cockerill, Chief Executive Officer of
Golf Fields said: "This is a welcome new development which will
bring certainty to the market in Gold Fields shares, especially
after the recent speculation about the intentions of Anglo
American." "Norilsk has done a great deal and we trust we will make
them as much money as we did for Anglo American and all our other
shareholders." "Gold Fields and Norilsk today had preliminary
discussions and we have agreed to explore the potential for
co-operation with regards to our respective gold assets." Gold
Fields, one of the largest unhedged gold companies, has
attributable annual gold productionof 4.33 million ounces,
attributable mineral resources of 195 million ounces and
attributable mineral reserves of 84 million ounces. It has
operations in South Africa, Australia and Ghana (West Africa) and
exploration projects in all of the major gold provinces of the
world. Gold Fields also owns 100% of the 12 million ounce Arctic
Platinum Project, an advanced stage PGM project in Northern
Finland. The company's primary listing is on the Johannesburg
Securities Exchange in South Africa (GFI) with secondary listings
on the London, Euronext, Paris, Brussels, and Swiss exchanges. The
company's American Depositary shares are listed on the New York
Stock Exchange, also under the symbol GFI. DATASOURCE: GoldFields
Limited CONTACT: Enquires: South Africa - Willie Jacobsz, Tel
+27-11-644-2630, Fax +27-11-484-0639. North America - Cheryl A
Martin, Tel +303-796-8683, Fax +303-796-8293
Copyright