Review of International Operations

Tarkwa Gold Mine

Technical short form report (PDF - 896KB)

		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.