JOHANNESBURG, Oct. 5, 2009 (PRNewswire-FirstCall) -- Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today published its detailed Mineral Resource and Mineral Reserve information for the 12-month period ended 30 June 2009.
Attributable gold Mineral Resources, including 2PGE, copper converted to gold equivalent and Tailings Storage Facility (TSF) gold, increased to 271.1 million ounces at 30 June 2009, compared to 250.6 million ounces for the year ended 30 June 2008.
Attributable gold Mineral Reserves, including copper converted to gold equivalent, amounted to 81.1 million ounces at 30 June 2009, compared to 82.8 million ounces for the year ended 30 June 2008. All numbers are net of 12 months' depletion.
Nick Holland, Chief Executive Officer of Gold Fields said:
"We are pleased to again report a robust Mineral Resource and Mineral Reserve position which provides Gold Fields' shareholders with unique long-term optionality without any hedge liabilities, and places Gold Fields amongst the leaders in the industry. These Mineral Resources and Mineral Reserves are the foundation on which the Gold Fields value proposition is based and were calculated using robust gold prices."
Managed Mineral Resources, including 2PGE, copper converted to gold-equivalent and Tailings Storage Facility (TSF) gold ounces totals 282.4 million ounces, which is an 8% per cent increase on the 262.1 million ounces reported for the year ended 30 June 2008.
Managed Mineral Reserves, including copper converted to gold-equivalent ounces, totals 85.7 million ounces, which equates to the 87.6 million ounces reported for the year ended 30 June 2008. All numbers are net of 12 months' depletion. Guided by our commitment to Corporate Governance, the principles of consistency in reporting among our operating mines and compliance with public and internal regulatory codes of practice, are paramount. The Mineral Resource Management processes utilized by the Group continue to improve through enhanced Competent Persons reporting. Gold Fields' Mineral Resource and Mineral Reserve Statement has been audited by leading independent global mining consultancies and is 2007 SAMREC and Industry Guide 7 (SEC) compliant, and aligned to the requirements of the Sarbanes-Oxley Act.
Mineral Resources were calculated using a gold price of R285,000/kg in South Africa; A$1,250/oz in Australia; and US$1,000/oz in West Africa and South America.