Increase in Mineral Resources and Reserves
October 02 2003 - 7:51AM
UK Regulatory
MEDIA RELEASE
Gold Fields Reports Increase in Mineral Resources and Reserves
Johannesburg, 2 October 2003: Gold Fields Limited (GFI - NYSE and JSE)
announces increases in both its Mineral Resources and Reserves for fiscal year
ending 30 June, 2003.
Attributable Resources have increased from 186.0 to 195.3 million ounces,
including the Arctic Platinum Project in Finland. Attributable Reserves have
increased by 3.0 million ounces to 81.5 million ounces.
Ian Cockerill, Chief Executive Officer of Gold Fields said: "To end the year
with a net gain of 3 million reserve ounces, and to offset the 4.7 million
ounces we depleted, means that we actually found 7.7 million ounces of new
reserves during the year. This reflects well on the increased focus on organic
growth and exploration within Gold Fields."
Gold Fields spends approximately US$70 million a year on exploration worldwide.
Of this, approximately US$30 million is spent on brownfields exploration on or
near existing mining properties, where the new reserves were found.
Gold Fields reports its Mineral Resources and Reserves in accordance with the
South African Code for the Reporting of Mineral Resources and Mineral Reserves
(SAMREC Code). The code has been incorporated into the rules of the JSE
Securities Exchange South Africa regarding listing requirements and continuing
obligations. In addition Gold Fields has written and implemented an additional
internal code of practice that takes cognisance of the diverse nature of its
operations and considers the requirements of all internationally recognised
codes, including industry Guide 7 as interpreted by the Staff of the US
Securities Exchange Commission.
A comprehensive Resources and Reserves Statement can be found on the Company's
website at www.goldfields.co.za or in its recently published annual report for
2003 which was mailed to all shareholders and is available upon request.
Enquires
South Africa
Willie Jacobsz
Tel +27 11 644-2460
Fax +27 11 484-0639
North America
Cheryl A Martin
Tel +303 796-8683
Fax +303 796-8293
COMPARISON OF F2002 AND F2003 RESOURCES AND RESERVES
Resource Reserve
GOLD Mill Grade Gold Gold Attributable Mill Head Gold Gold
Tons Tons
(Mt) (g/t) (000 (000 % (Mt) Grade (000 (000
oz) oz) oz) oz)
F2003 F2002 (g/t) F2003 F2002
Driefontein 148.5 11.0 52,616 49,623 100 108.8 7.7 27,102 27,651
Kloof 207.9 13.0 86,979 84,261 100 106.0 9.1 31,092 29,974
Beatrix 132.4 5.4 23,069 21,539 100 77.2 4.9 12,186 12,496
SA Operations* 488.8 10.4 162,664 155,423 292.0 7.5 70,380 70,121
Tarkwa 471.9 1.5 22,309 18,890 71.1 232.0 1.3 9,828 6,530
Damang 27.9 1.7 1,516 1,765 71.1 17.3 1.7 919 1,189
St Ives 87.0 2.6 7,295 6,742 100 28.2 3.3 2,989 2,336
Agnew 12.7 5.4 2,198 1,810 100 2.6 6.4 535 601
International
Operations 599.4 1.7 33,318 29,207 280.1 1.6 14,271 10,656
Total
Gold Fields 1,088.1 5.6 195,982 184,630 572.1 4.6 84,650 80,777
PLATINUM Tons 2 PGE2 PGE
(Mt)
+Au +Au
(g/t)
(000 oz)
Arctic 156.7 2.4 12,213 14 400 51
Platinum
Total
Precious 1,244.8 208,195 199,030 572.1 84,650 80,777
Metals
Total
attributable
to Gold 1023.6 195,325 186,005 500.1 81,544 78,546
Fields
Statement excludes St Helena which was sold on the 29 October 2002.
ends
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