JOHANNESBURG, Aug. 6 /CNW/ - Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced normalised earnings excluding gains and losses on foreign exchange, financial instruments, exceptional items and share of profits and losses of associates after taxation for the June 2009 quarter of R949 million, compared with normalised earnings of R1,369 million and R943 million for the March 2009 and the December 2008 quarters respectively. In US dollar terms normalised earnings for the June 2009 quarter were US$109 million, compared with of US$146 million and US$123 million for the March 2009 and the December 2008 quarters respectively.

June 2009 quarter salient features:

- Attributable gold production increased by 4 per cent to 906,000

ounces;

- Total cash costs decreased 6 per cent from R150,301 per kilogram (US

$471 per ounce) to R140,916 per kilogram (US$512 per ounce);

- Notional cash expenditure decreased 5 per cent from R213,403 per

kilogram (US$668 per ounce) to R203,042 per kilogram (US$738 per

ounce);

- Commenced construction of Athena, the fourth underground mine at St

Ives, in July.

- Offer post quarter end to be made for Glencar which owns the Komana

project in Mali. 29.9 per cent acquired to date;

- The 19.9 per cent stake in Sino Gold sold for a consideration of US

$282 million and closed in July;

- Net debt declines from R7.7 billion to R6.1 billion.

A final dividend of 80 SA cents per share is payable on 31 August 2009, giving a total dividend for financial 2009 of 110 SA cents per share.

Statement by Nick Holland, Chief Executive Officer of Gold Fields:

"The final quarter of F2009 was the third consecutive quarter of strong and improved operational performance for Gold Fields against our strategic objectives of delivering a step change in our safety performance; increasing our production base; and maintaining rigorous cost control aimed at improving the generation of free cash flow.

F2009 has, by a considerable margin, been the best safety year in the history of Gold Fields. Never the less, I regret to report eight fatal injuries for the quarter. Seven of these were seismically related and occurred in a two-week period late in the quarter, when a wave of seismicity struck the West Wits region.

These accidents bring the total number of fatalities for F2009 to 21, compared with 47 during F2008, which represents a 55 per cent improvement year on year.