JOHANNESBURG, Jan. 24, 2018 /CNW/ - Gold Fields Limited (Gold
Fields) (JSE, NYSE: GFI) is pleased to announce the sale of its
palladium-rich, polymetallic Arctic Platinum Project (APP) in
northern Finland. The buyer is a
Finnish subsidiary of private equity fund CD Capital Natural
Resources Fund III (CD Capital), headquartered in London.
The purchase consideration comprises US$40 million cash and royalty (2% NSR (net
smelter return) on all metals, with 1% capped at US$20 million and 1% uncapped). The transaction,
including full payment of the cash consideration, was completed
today.
The sale includes all of the project assets for APP including
the Suhanko mining licence (and associated real estate), all other
mining and exploration properties, project permits and all other
project related assets.
Nick Holland, CEO of Gold Fields,
commented:
"The divestment of APP is consistent with our strategy of
divesting non-core assets, and reinforces the focus that Gold
Fields continues to show in relation to its asset portfolio. We are
pleased to have balanced the purchase price between up-front cash
and continued long-term exposure through the royalty, and believe
this to be a positive outcome for both parties.
CD Capital continues to build its own portfolio of development
assets, and we have been impressed with their professional approach
and commitment to the transaction and the project. We wish them
every success in the development of the project."
About Gold Fields
Gold Fields Limited is a globally diversified producer of gold
with eight operating mines in Australia, Ghana, Peru
and South Africa with attributable
annual gold-equivalent production of approximately 2.2 million
ounces. It has attributable gold Mineral Reserves of around 48
million ounces and gold Mineral Resources of around 101 million
ounces. Attributable copper Mineral Reserves total 454 million
pounds and Mineral Resources 5,813 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 (SWX).
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
SOURCE Gold Fields Limited