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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

Tarkwa Gold Mine

PDF format Technical short form report (PDF - 896KB)

Site infrastructure at Tarkwa, Ghana  
Mineral Resources at 15.1 Moz (including underground).
Mineral Reserves at 10.3 Moz.
Solid anchor for growth in the West Africa Region.
Owner-operated, high-volume, grade-driven surface operation.
A well-understood predictable ore body.
Focus on maintaining high mining fleet efficiencies.
Life of Mine extends to 2024 (13 years).

West Africa is host to world-class gold deposits and is a premier mining destination. The Gold Fields brand is strong in the region and Tarkwa is ideally positioned to fulfil the Gold Fields vision “To be the global leader in sustainable gold mining”.

     
PRODUCTION: 22,312 kg (717,000 ozs) TOTAL CASH COSTS: US$552/oz

Gold Fields Ghana Limited (GFGL) was incorporated in Ghana in 1993 as the legal entity holding the Tarkwa concession mining rights. Gold Fields Ghana Holdings Limited now holds 90% of the issued shares of GFGL after acquiring the indirect 18.9% of the issued shares belonging to IAMGold and its affiliates. The government of Ghana holds a 10% free carried interest, as required under the mining law of Ghana. The Tarkwa Gold Mine operates under seven mining leases covering a total area of approximately 20,825 hectares.

The Tarkwa Gold Mine is located in southwestern Ghana near the southern end of what is commonly referred to as the Tarkwa Basin, 300 kilometres by road west of Accra, the capital of Ghana, and is easily accessible with an established infrastructure.

The open pit surface operation exploits narrow, tabular auriferous conglomerates similar to those mined in the Witwatersrand Basin of South Africa. Mining is currently taking place from six pits, Pepe, Atuabo, Mantraim, Teberebie, Akontansi and Kottraverchy and the mine utilises a conventional CIL plant as well as a heap leach facility. In the twelve months ending December 2011, Tarkwa produced 717 koz of gold from the milling and heap leach operations at a cash cost of US$552/oz.

This Technical Short Form Report reflects the latest Life of Mine plan input parameters, coupled with an updated Mineral Resource and Mineral Reserve statement, as at 31 December 2011. All Mineral Resource and Mineral Reserve figures reported are managed unless otherwise stated and Mineral Resources are inclusive of Mineral Reserves.

      Units   Dec
2011
Dec
20101
June
2010
June
2009
June
2008
 
  Open pit mining                  
  Total mined   kt   117,156 67,063 134,131 132,585 113,341  
  – Waste mined   kt   94,927 56,008 111,051 109,906 91,960  
  – Ore mined   kt   21,876 10,840 22,716 21,273 22,035  
  Mined grade   g/t   1.2 1.2 1.2 1.2 1.2  
  Strip ratio (tonnes)   waste : ore   4.4 5.2 5.2 5.1 4.7  
  Processing                  
  – Mill tonnes   kt   11,426 5,639 11,182 7,733 5,571  
  – Heap leach tonnes   kt   11,713 5,857 11,534 13,540 16,464  
  Total tonnes   kt   23,138 11,496 22,716 21,273 22,035  
  – Mill head grade (CIL)   g/t   1.4 1.4 1.4 1.4 1.5  
  – Heap leach head grade   g/t   0.9 0.9 0.9 0.9 1.0  
  Total head grade   g/t   1.2 1.0 1.0 1.1 1.2  
  – Mill yield (CIL)   g/t   1.4 1.4 1.4 1.4 1.5  
  – Heap leach yield   g/t   0.5 0.7 0.6 0.6 0.7  
  Combined yield   g/t   1.0 1.0 1.0 0.9 0.9  
  Plant recovery Mill %   97 97 97 97 97  
  factor Heap leach %   61 65 70 68 71  
  Gold produced                  
  – Mill   koz   518 261 503 314 267  
  – Heap leach   koz   199 101 218 299 379  
  Total gold produced   kg   22,312 11,261 22,415 19,048 20,095  
    koz   717 362 721 612 646  
  Gold sold                  
  Financials                  
  Surface Operating cost   US$/oz   608 575 521 523 431  
  Total cash cost   US$/oz   552 562 536 521 430  
  Capital expenditure   US$ million   219 117 149 201 212  
  Notional cash expenditure (NCE)   US$/oz   913 889 743 881 766  
  General                  
  Employees (TEC)   number   4,024 4,153 4,377 4,107 3,833  
  Mineral Reserves   Mt   264.8 235.3 244.2 270.0 285.0  
  Mineral Reserves   g/t   1.2 1.2 1.3 1.2 1.2  
  Mineral Reserves   Moz   10.3 9.3 9.9 10.7 11.3  
  Expected Life of Mine   years   13 12 12 13 14  
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.