Share Price

     
JSE 42.74 0.00%
NYSE 3.81 0.00%
RAND/US$ 10.5013 0.4729%
RAND/STERLING 17.6362 0.5352%
GOLD 1294.90 -0.05%
PLATINUM 1413.00 -1.09%
 
15 min delayed feed: more
Gold Fields is a significant unhedged producer of gold with attributable annualised production of approximately 2.0 million gold equivalent ounces from six operating mines in Australia, Ghana, Peru and South Africa. Gold Fields also has an extensive and diverse global growth pipeline with four major projects at resource development or feasibility level. Gold Fields has total managed gold-equivalent Mineral Reserves of 64 million ounces and Mineral Resources of 155 million ounces. Gold Fields is listed on the JSE Limited (primary listing), the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX). In February 2013, Gold Fields unbundled its KDC and Beatrix mines in South Africa into an independent and separately listed company, Sibanye Gold



Review of International Operations

St Ives Gold Mine

PDF format Technical short form report (PDF - 2MB)

Installation of mine support at the Argo project, St Ives, Australia  
Mineral Resources at 5.3 Moz.
Mineral Reserves consistent post depletion at 2.8 Moz.
Full production achieved at Athena in September 2011.
First ore intersected at the new Hamlet mine and development of new infrastructure making good progress.
Neptune Mineral Resources and Mineral Reserves continue to grow.
Life of Mine extended to 2018.

The St Ives tenement holdings are located in the highly prospective Norseman-Wiluna Archaean Greenstone Belt, mining a dynamic mix of open pit and underground operations. Accelerated greenfields exploration initiated in 2011 realising new targets and options.

     
PRODUCTION: 14,449 kg (465,000 ozs) TOTAL CASH COSTS: AUS$873 (US$901/oz)

The St Ives Gold Mining Company (Pty) Limited is wholly owned by Gold Fields Limited and is situated within the highly prospective Norseman-Wiluna Greenstone Belt in Western Australia. The St Ives operations are situated within mining tenements comprised of 277 mining titles (54,749 hectares), three mineral titles (364 hectares), 14 exploration licences (27,572 hectares), 45 prospecting licences (7,190 hectares) and 19 miscellaneouslicences (14,634 hectares) for a total area of approximately 104,509 hectares.

St Ives represents a solid base for growth in Australia and is an important contributor to the Gold Fields vision, “To be the global leader in sustainable gold mining,” with a target contribution from the Australasia Region of 1,0 Moz per annum in production or in development by 2015.

Declared Mineral Resources at the St Ives Gold Mine decreased by 450 koz primarily due to depletion and closure of the Belleisle mine during 2011, while the Mineral Reserves, inclusive of a depletion of 520 koz since December 2010, was steady at 2.8 Moz. Changes to Mineral Reserves from December 2010 were dominated by discoveries at Neptune, Cave Rocks, Trinidad and the Britannia Footwall project, with nominal growth at Hamlet and Athena.

The St Ives Life of Mine (LoM) was extended by an additional year, as discovery and opportunities associated with the higher gold price contributed towards additional Mineral Reserves. Ongoing exploration achievements and increased drilling of the mine’s extensive greenfields project pipeline in a major well-endowed gold camp provides the basis for further Mineral Resource extensions and discovery.

    Units Dec
2011
  Dec
20101
June
2010
June
2009
June
2008
 
  Open pit mining                
  Total mined kBCM 7,977   3,269 13,464 12,220 13,845  
  – Waste mined kBCM 6,387   2,508 10,850 9,921 11,807  
  – Ore mined kt 4,307   2,053 6,643 5,799 5,143  
  Mined grade g/t 1.8   1.9 1.4 1.5 1.7  
  Strip ratio (volume) waste:ore 3.4   3.3 4.2 4.3 5.8  
  Underground mining                
  – Ore mined kt 1,768   904 1,444 1,222 901  
  – Mined grade g/t 4.7   4.9 4.7 5.1 5.2  
  Processing                
  – Mill tonnes kt 4,793   2,419 4,766 4,821 4,647  
  – Heap leach tonnes kt 1,952   866 2,052 2,441 2,586  
  Total tonnes kt 6,745   3,284 6,819 7,262 7,233  
  – Mill head grade g/t 3.0   3.2 2.7 2.8 2.7  
  – Heap leach head grade   0.8   0.9 0.8 0.9    
  Total head grade g/t 2.4   2.6 2.2 2.1 2.0  
  – Mill yield g/t 2.8   3.0 2.5 2.5 2.5  
  – Heap leach yield g/t 0.5   0.5 0.5 0.5 0.6  
  Combined yield g/t 2.1   2.3 1.9 1.8 1.8  
  Plant recovery factor – Mill % 94   94 93 91 93  
                                     – Heap leach % 55   58 56 56 64  
  Gold Produced                
  – Mill koz 433   230 389 394 371  
  – Heap leach koz 32   13 32 37 47  
  Total gold produced koz 465   243 421 428 418  
  kg 14,449   7,557 13,097 13,322 12,992  
  Financials                
  Operating cost A$/oz 867   781 832 806 644  
  Total cash cost A$/oz 873   757 806 805 649  
  US$/oz 901   710 710 596 582  
  Capital expenditure A$ million 177   59 117 93 120  
  Notional cash expenditure (NCE) A$/oz 1,248   1,025 1,110 1,023 932  
  US$/oz 1,287   962 978 757 836  
  General                
  Employees (TEC) number 796   778 766 699 661  
  Mineral Reserves Mt 37.9   32.7 30.6 30.1 25.9  
  Mineral Reserve Head Grade g/t 2.3   2.7 2.3 2.4 2.3  
  Mineral Reserves Moz 2.8   2.8 2.3 2.3 1.9  
  Expected Life of Mine years 7   6 4 4 4  

1 Figures shown represent the six months to 31 December 2010. Rounding off of figures presented in this report may result in minor computational discrepancies. Where this occurs it is not deemed significant.