Review of South African Operations

Beatrix Gold Mine

Technical short form report (PDF - 2MB)

		Mineral Resources at 11.3 Moz. Mineral Reserves at 5.0 Moz. Grow West Section to align production to ore body capability. Optimisation of surface and underground processing. The Beatrix LoM plan extends to 2025. The Beatrix Gold Mine has shown that low grade ore deposits can be profitably mined with a corresponding high level of productivity and contribute to Gold Fields’ long-term stated vision, “To be the global leader in sustainable gold mining”, which is underpinned by safety, human capital, the environment and the social licence to operate.
PRODUCTION: 347 ounces NOTIONAL CASH EXPENDITURE: US$1,206/oz

The South Africa Region’s mining assets of Gold Fields Limited comprise a 100% interest in GFI Mining South Africa (Proprietary) Limited (GFIMSA), which holds a 100% interest in Beatrix Gold Mine. The mine has a new order mining right valid from 7 February 2007 to 6 February 2019 in respect of a mining right totalling 16,874 hectares in the Magisterial District Matjhabeng in the Free State Province.

Beatrix consists of four surface operating shafts that mine various gold-bearing reefs from open ground and remnants at depths between 600 and 2,155 metres below surface. Underground ore and low-grade surface stockpiles are processed at two metallurgical plants with mill throughput of approximately 3.7 Mtpa. The mine has a workforce of approximately 9,563 employees.

The 2011 geological and evaluation models of Beatrix have been updated to reflect the latest available data. These models are coupled with an integrated and holistic mine design and scheduled plan that is based on current performance levels. In summary, the Mineral Resource base has decreased by 29.6% while the overall Mineral Reserve base has decreased by 8.9% since the December 2010 declaration, mainly due to depletion, lower MCF, tail end management, geological changes and specific exclusions. A considerable increase in electricity, consumables and labour costs has further offset increased gold price revenues.