Gold Fields makes good progress against new Mining Charter targets in South Africa

During 2010, the South African Department of Mineral Resources (DMR) unveiled the revised Mining Charter 2010. The revised Mining Charter updates and expands upon a set of empowerment targets (originally set in the Mining Charter 2002), that mining companies in South Africa are required to comply with by March 2015. Details of Gold Fields progress against key targets are set out below:

• • Minimum 26% HDSA ownership by 2014: In 2009, Mvelaphanda Gold (MvelaGold) subscribed for 15% of Gold Fields South African assets (GFIMSA) representing an effective 15% HDSA ownership interest. During 2010, Gold Fields implemented three further Black Economic Empowerment (BEE) transactions. Taken together, these transactions enabled Gold Fields to achieve its 2014 Mining Charter HDSA ownership target
  
  
• • Procurement of a minimum 40% of capital goods, 50% of consumer goods and 70% of services from BEE entities by 2014: By 2011, Gold Fields had achieved an overall HDSA procurement rate of 46% across all categories. HDSA procurement is broken down as follows: 47% of capital goods; 46% of consumer goods; and 46% of services
  
  
• • Minimum 40% HDSA representation amongst management and technical skills: In 2011, Gold Fields had achieved 43% HDSA representation amongst junior management, 41% amongst middle management and 30% amongst senior management at its South African operations. At Group Board level the representation is 36%
  
  
• • Invest 3% of annual payroll in skills training: Apart from the South Deep mine, which is still undergoing construction and development, all operations are on-track to achieve this target
  
  
• • Investment in community development: As part of their Social and Labour Plans, Gold Fields operations are involved in a number of community development projects focused on infrastructure development, job creation and poverty alleviation – with particular support for enterprise development. The projects that qualify under these plans are listed on our website (www.goldfields.co.za)
  
  
• • Attain an occupancy rate of one person per room (in on-site accommodation): Gold Fields has completed more than 90% of planned hostel upgrades at Beatrix, KDC East and KDC West, and has made significant progress in terms of the establishment of family accommodation. During 2011, Gold Fields built 100 family units and upgraded 541 hostel units. At the end of 2011, the occupancy rate at hostels at Beatrix, KDC East and KDC West averaged 1.45 per room. South Deep’s licence was only approved in 2010 and was followed by an engagement process with organised labour. As a result, the hostel upgrade programme at the mine will only be initiated in 2012