Review of International Operations

St Ives Gold Mine

Technical short form report (PDF - 2MB)

		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.