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Forward Looking Statements Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; inflation and other macro-economic factors, industrial action, temporary stoppages of mines for safety reasons; and the impact of the AIDS crisis in South Africa. These forward looking statements speak only as of the date of this document. The company undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
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Net earnings increase by 40% to R1.4 billion JOHANNESBURG. 4 February 2010, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings for the December 2009 quarter of R1,409 million compared with earnings of R1,007 million and R483 million in the September 2009 and the December 2008 quarters respectively. In US dollar terms net earnings for the December 2009 quarter was US$187 million, compared with US$129 million and US$54 million for the September 2009 and December 2008 quarters respectively. Net earnings excluding gains and losses on foreign exchange, financial instruments, exceptional items and share of profit or loss of associates after taxation for the December 2009 quarter was R1,022 million compared with earnings of R625 million and R542 million in the September 2009 and the December 2008 quarters respectively. In US dollar terms this equates to US$135 million for the December 2009 quarter, compared with US$80 million and US$60 million for the September 2009 and December 2008 quarters respectively. December 2009 quarter salient features:
Interim dividend number 72 of 50 SA cents per share is payable on 1 March 2010. Statement by Nick Holland, Chief Executive Officer of Gold Fields: Gold Fields has again benefited from the higher gold price delivering a 40 per cent increase in earnings for the quarter ended 31 December 2009. This significant increase was achieved against a background of mainly safety related challenges. I deeply regret the six fatal accidents at the South African operations during the quarter and we extend our condolences and sympathy to the families of our colleagues. Safety is our number one value and we remain committed not to mine if we cannot mine safely, and to apply, without exception, our safety rules. In the South Africa region, Beatrix has maintained its consistency, while South Deep remains on-track to deliver its 300,000 ounce target for the fiscal year. Driefontein halted production for seven days, or almost one third of December’s production, mostly due to a major seismic event that occurred on 6 December 2009. Kloof was also held back by safety stoppages in line with the “Stop, Think, Fix, Verify and Continue” philosophy. However, both these mines’ performances in the earlier part of the quarter were robust and the end result was that their production was similar quarter-on-quarter. That said, both operations can and should do better, and our focus during 2010 is to achieve greater consistency at these two flagship operations. Discussions have commenced with unions, associations and the DMR regarding the introduction of a six day work week to ameliorate the effects of the Christmas and Easter breaks, and lost shifts due to safety and other stoppages. The objective is to improve efficiencies while maintaining current conditions of employment, especially working hours, in order to create a more sustainable environment and to avoid possible retrenchments. In the West Africa region, Tarkwa had a steady quarter and looks set for a good 2010. Damang was affected by a 13-day accelerated re-build of the SAG mill, prompting significant repair work which should sustain this operation well into the future. We look forward to an improved performance from West Africa over the next half year, as a result of improved efficiencies and throughput. In the South America region, optimisation strategies continue to deliver outstanding results at Cerro Corona. The quarter-on-quarter increase of 11 per cent in gold equivalent ounces is especially pleasing as the mine benefits from a stronger copper price and higher production. In the Australasia region, Agnew also delivered a solid performance. Production at St Ives decreased slightly quarter-on-quarter mainly due to continued rehabilitation work at the Belleisle underground operation, which is expected to be completed in the next few weeks. The focus for the next half year will continue to be on safe production, development to ensure improved flexibility, as well as on our promising exploration portfolio.
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