Review of South African Operations

South Deep Gold Mine

Technical short form report (PDF - 2MB)

		Managed Mineral Resources at 81.4 Moz. Managed Mineral Reserves at 39.6 Moz. Declared Mineral Resources and Mineral Reserves now modelled, designed and scheduled in accordance with Gold Fields protocols. Old Mine and VCR mostly excluded, pending further exploration and feasibility studies. Production build-up continues to gather The current Life of Mine is estimated to extend to 2080 (69 years). The South Deep Gold Mine is a key asset for Gold Fields and the flagship growth project in South Africa. South Deep’s production build-up is on track to deliver the required volume to achieve full production by 2016, in line with Gold Fields’ long-term stated vision, “To be the global leader in sustainable gold mining”
PRODUCTION: 8,491 kg (273 ozs) TOTAL CASH COSTS: R249,146/kg (US$1,073/oz)

Newshelf 899 (Pty) Limited (Newshelf), which is a 90% subsidiary of Gold Fields Limited, holds a 100% interest in the South Deep Gold Mine. The remaining 10% is held by outside shareholders as part of the BEE Transaction completed in December 2010. The Mine, situated 45 kilometres southwest of Johannesburg, is an intermediate to deep level gold mine comprising two shaft systems, the older South Shaft complex with its main shaft and two sub-vertical shafts, and the newer complex known as Twin Shafts. Ore is processed at a central metallurgical plant. The mining right area totals 4,268 hectares, which includes the area previously known as Uncle Harry’s.

South Deep has been designated by Gold Fields as a developing mine and a project to increase ore production to 330,000 tonnes per month, is currently in progress. This project includes the establishment of a new tailings storage facility, the deepening and equipping of the ventilation shaft at the Twin Shaft Complex to hoist both reef and waste material, increasing the metallurgical plant capacity and establishing the underground infrastructure to access Mineral Reserves to the south of the current workings. In order to further improve the confidence in the Mineral Resource estimate of this area, a major surface drilling project is also underway.

The primary economic target is the Upper Elsburg Reef package, which, due to its geometry, lends itself to a mine design that is fully mechanised, and the Ventersdorp Contact Reef as a secondary economic target. It is planned that South Deep will be able to mine 330,000 tonnes per month by 2015. At this production rate, South Deep will produce approximately 700 koz per annum. It is currently estimated that South Deep will be able to maintain this profile until 2057, with the end of life expected to be in 2080.