GOLD FIELDS LIMITED - Completion of Joint Venture Transaction with Asanko Gold

Release Date: 31/07/2018 13:40
Code(s): GFI
 
Wrap Text
Completion of Joint Venture Transaction with Asanko Gold

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

Completion of Joint Venture Transaction with Asanko Gold


Johannesburg, 31 July 2018: Gold Fields Limited (Gold Fields) (JSE, NYSE:
GFI) is pleased to announce the completion of the Joint Venture transaction
with Asanko Gold (Asanko), with Gold Fields acquiring a 50% stake in
Asanko’s 90% interest in the Asanko Gold Mine in Ghana.

Gold Fields is expected to equity account its share in the Joint Venture,
with attributable production and costs incorporated into the Group numbers
from completion. Asanko’s published guidance for 2019-2023 is average annual
production of 253koz (100% basis).

Gold Fields and Asanko have established various working groups to ensure
that the Asanko Gold Mine continues to operate in an efficient manner.

Nick Holland, CEO, said: “The closing of the transaction with Asanko gives
us exposure to a great camp, with long-life, low-cost production, with
significant exploration potential in a country we know well and have
operated in for 25 years.”

“The Joint Venture bolsters the Ghana region, with Tarkwa providing the base
load production and Damang providing growth through the reinvestment plan
currently underway. We look forward to working closely with our new
partners,” he added.

Enquiries

Investors

Avishkar Nagaser
Tel: +27 11 562-9775
Mobile: +27 82 312 8692
Email : Avishkar.Nagaser@goldfields.com

Thomas Mengel
Tel: +27 11 562 9849
Mobile: +27 72 493 5170
Email: Thomas.Mengel@goldfields.com

Media

Sven Lunsche
Tel: +27 11 562-9763
Mobile: +27 83 260 9279
Email : Sven.Lunsche@goldfields.com
ends


Notes to editors

About Gold Fields

Gold Fields Limited is a globally diversified gold producer with seven
operating mines in Australia, Ghana, Peru and South Africa, and a total
attributable annual gold-equivalent production of approximately 2.2 million
ounces.   It has attributable gold Mineral Reserves of around 49 million
ounces and gold Mineral Resources of around 104 million ounces. Attributable
copper Mineral Reserves total 764 million pounds and Mineral Resources 4,881
million pounds. Gold Fields has a primary listing on the Johannesburg Stock
Exchange (JSE) Limited, with secondary listings on the New York Stock
Exchange (NYSE) and the Swiss Exchange (SIX).

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

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