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GOLD FIELDS LIMITED - Gold Fields Completes Acquisition of Barricks Granny Smith, Lawlers and Darlot Gold Mines in Western Australia

Release Date: 01/10/2013 15:52
Code(s): GFI     PDF:  
Wrap Text
Gold Fields Completes Acquisition of Barrick’s Granny Smith, Lawlers and Darlot Gold Mines in
Western Australia

Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
(“Gold Fields” or “the Company”)
JSE, NYSE, DIFX Share Code: GFI
ISIN Code: ZAE000018123


M E D I A      R E L E A S E


Gold Fields Completes Acquisition of Barrick’s Granny Smith, Lawlers and Darlot Gold Mines in
Western Australia


Johannesburg, 1 October 2013: Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai:
GFI) is pleased to announce that it has completed the acquisition of the Granny Smith, Lawlers
and Darlot gold mines (collectively the Yilgarn South Assets) in Western Australia, from Barrick
Gold Corporation (Barrick).

Gold Fields acquired the assets for a total net consideration of US$270 million after
adjustments for working capital, mine capital and employee entitlements.

In accordance with the sale and purchase agreement, Gold Fields elected to satisfy half of the
consideration by delivering 28.7 million of its common shares (which was based on the 5-day
VWAP for the ADR’s trading on the NYSE prior to closing). The balance of US$135 million (less a
US$30 million deposit paid on signing of the agreement) was paid from cash resources held by
Gold Fields in Australia.

Nick Holland, Chief Executive Officer of Gold Fields, said:

“We are pleased to have completed this acquisition of in-production ounces. Today we
commenced integrating these assets with our existing operations in Western Australia where
Gold Fields now has five active mines.

Considering the potential for regional and operational synergies with our existing assets in the
region, as well as the benefits from applying Gold Fields’ low cost, cash-focussed operating
model to the acquired assets, this acquisition should have a positive impact on the Group’s
operations.

Based on reported production for the first half of 2013, these assets are expected to add
approximately 400,000 ounces of production to the Gold Fields portfolio, at costs lower than
the current Group average.
This transaction also significantly advances Gold Field’ strategic objective of achieving a more
balanced and globally diversified portfolio, with Australia now accounting for approximately
42% of Gold Fields’ production, Ghana approximately 33%, Peru approximately 13% and South
Africa approximately 12%.
Enquiries

Investors
Willie Jacobsz
Mobile: +27 82 971 9238 (SA)
Mobile: +1 857 241 7127 (USA)
email: Willie.Jacobsz@goldfields.co.za

Media
Sven Lunsche
Tel: +27 11 562-9763
Mobile: +27 83 260 9279
email: Sven.Lunsche@goldfields.co.za

Gold Fields Limited
Reg. 1968/004880/06
150 Helen Road,
Sandown, Sandton,
2196

Postnet Suite 252
Private Bag X30500
Houghton, 2041
South Africa

Tel +27 11 562 9700
Fax +27 11 562 9838
www.goldfields.co.za

Investor Enquiries
Willie Jacobsz
Mobile         +27 82 971 9238 (SA)
Mobile         +1 857 241 7127 (USA)
Email          Willie.Jacobsz@goldfields.co.za

Media Enquiries
Sven Lunsche
Tel           +27 11 562 9763
Mobile        +27 83 260 9279
Email         Sven.Lunsche@goldfields.co.za
Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd



Notes to editors

About Gold Fields

Gold Fields is a significant unhedged producer of gold with attributable annualised production
of approximately 2.0 million gold equivalent ounces from six operating mines in Australia,
Ghana, Peru and South Africa. Gold Fields has total managed gold-equivalent Mineral Reserves
of 64 million ounces and Mineral Resources of 155 million ounces. Gold Fields is listed on the
JSE Limited (primary listing), the New York Stock Exchange (NYSE), NASDAQ Dubai Limited,
Euronext in Brussels (NYX) and the Swiss Exchange (SWX). In August 2013, Gold Fields acquired
Barrick Gold's Granny Smith, Lawlers and Darlot Gold Mines in Western Australia, a transaction
that is expected to be completed in September 2013.

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd


This press release is for information purposes only and does not constitute or form part of an
offer to sell or the solicitation of an offer to buy or subscribe to any securities of Gold Fields.
The securities referred to herein have not been and will not be registered under the United
States Securities Act of 1933 (the "Securities Act") or with any securities regulatory authority of
any state or other jurisdiction of the United States and may not be offered, sold, resold,
transferred or delivered, directly or indirectly, in the United States except pursuant to
registration under, or an exemption from the registration requirements of, the Securities Act.
There will be no public offering of securities in the United States or any other jurisdiction.


FORWARD-LOOKING STATEMENTS
Certain statements included in this announcement, as well as oral statements that may be
made by Gold Fields, or by officers, directors or employees acting on its behalf related to the
subject matter hereof, constitute or are based on forward-looking statements. Forward-looking
statements are preceded by, followed by or include the words “may”, “will”, “should”,
“expect”, “envisage”, “intend”, “plan”, “project”, “estimate”, “anticipate”, “believe”, “hope”,
“can”, “is designed to” or similar phrases. These forward-looking statements involve a number
of known and unknown risks, uncertainties and other factors, many of which are difficult to
predict and generally beyond the control of Gold Fields, that could cause Gold Fields' actual
results and outcomes to be materially different from historical results or from any future results
expressed or implied by such forward-looking statements. Such risks, uncertainties and other
factors include, among others, Gold Fields’ ability to complete the transaction, Gold Fields’
ability to successfully integrate the acquired assets with its existing operations, Gold Fields’
ability to achieve anticipated efficiencies and other cost savings in connection with the
transaction, changes in relevant governmental regulations, particularly environmental, tax,
health and safety, regulations and potential new legislation affecting mining rights, Gold Fields’
future financial position and plans, strategies, objectives, capital expenditures, and projected
costs, the success of exploration and development activities, as well as projected level of gold
price and other risks. Gold Fields 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 announcement or to reflect any change in Gold Fields’ expectations with regard thereto.

Date: 01/10/2013 03:52:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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