Slide 1: Fourth Quarter and Year-end Results
Fourth Quarter and Year-end Results Period ending 31 December 2011 17 February 2012
Slide 2: Forward looking statements
Forward looking statements Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. In particular, the forward looking statements in this document include
Slide 3: Damang Exploration Target Statement
Damang Exploration Target Statement Damang Superpit Project, Ghana – Exploration Target Statement The Damang Gold Mine (Abosso Goldfields Ltd) is one of Gold Fields two operating mines in south west Ghana, and currently produces approximately 220-240koz per annum. Following the acquisition (June 201
Slide 4: Far Southeast Exploration Target Statement
Far Southeast Exploration Target Statement Far Southeast Au-Cu Project, Philippines – Exploration Target Statement The Far Southeast Project (FSE) is an advanced exploration program being conducted by Far Southeast Gold Resources Inc. to investigate and evaluate Au-Cu mineralisation associated with
Slide 5: Overview
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Slide 6: Q4 2011 Salient Features
Q4 2011 Salient Features Net earnings up 27% quarter on quarter due to cost discipline and weaker Rand Net et Earnings a gs (S (SA cents ce ts per pe share) s a e) Attributable production of 883,000 gold 1 200 equivalent ounces 1 000 Total cash cost decreased 10% to US$767/oz 800 22% increase
Slide 7: F2011 Highlights
F2011 Highlights 97% iincrease iin NCE margin i per ounce tto US$396/ US$396/oz against i t a 29% iincrease iin the US$ gold price Cash Flow Cas o ((Rm)) Attributable production of 3 3.49 49 million gold 18 000 equivalent ounces Operating cash flow 15 746 16 000 Free cash flow 46% increase in op
Slide 8: Achievements 2011
Achievements 2011 BPR savings of R835 million for the year Conversion to owner mining and maintenance Completion of minority buy-outs in Ghana1 and Peru2 Growth pipeline advancing 1st in JSE Top 100 Carbon Disclosure Index 4th in the mining sector of the Dow Jones Sustainability Index
Slide 9: Leverage to the gold price
Leverage to the gold price Gold Price (US$/oz) Operating Cash Flow (Rm) 1 800 18 000 1 600 16 000 1 400 81% 14 000 114% 1 200 12 000 1 000 10 000 800 1 569 8 000 15 746 600 6 000 400 865 4 000 7 362 200 2 000 0 0 2008 2011 2008 2011 EBITDA (Rm) Net Earnings (Rm) 25 000 8 000 7 000 20 000 124% 6 000
Slide 10: Conservative balance sheet and debt strategy
Conservative balance sheet and debt strategy Balance sheet positioned for growth Net debt (US$m) & Net debt:EBITDA ratio (times) Low Gearing 3 500 0.90 Net Debt (LHS) Strong liquidity position 0.80 3 000 EBITDA (LHS) Robust cash flow generation Net Debt:EBITDA (RHS) 0.70 2 500 0.60 Conservat
Slide 11: F2011 Dividend
F2011 Dividend Committed to returning cash to shareholders Dividends (SA cents per share) CY2008 - 2011 Final dividend 350 230 SA cents per share 300 − 130% up on interim dividend − 229% up on 2010 final dividend 250 200 Full year dividend 330 150 330 SA cents per share 100 − 136% up on C2010 di
Slide 12: NCE Margin
NCE Margin Q4 2011 NCE margin of 28 % exceeds long-term target US$/oz 1800 Gold Price Total Cash Cost NCE 1600 29 % 28% 1400 21 21% % 1200 1000 800 600 400 Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec 2008 2008 2008 2009 2009 2009 2009 2010 2010 2010 2010 2011 2011 2011 2011 Cost cont
Slide 13: Increasing international diversification
Increasing international diversification 2008 Production1 2011 Production1 2015 Production Target2 19% 2% 18% 20% 40% 10% 49% 18% 62% 20% 22% 20% South Africa West Africa Australia South America 2015 Production Target2 South Africa Region Australasia Region West Africa Region South America Region ~
Slide 14: Improving size & profitability of international portfolio
Improving size & profitability of international portfolio ‘000 ounces 2 500 37% 40% 32% 35% 2 000 30% 26% 25% 1 500 20% 15% 1 000 1,989 1,977 1,802 10% 1,516 5% 500 -2% 0% 0 -5% 2008 2009 2010 2011 International production (LHS) * International NCE Margin (RHS) ______________________________________
Slide 15: Operations Review
Pee BISN Ga) Operations Review Fiecps
Slide 16: South Africa Region Overview
South Africa Region Overview Sound cost control Q4 pproduction increased 1% to 434koz ((Q3: 428koz)) Contribution to Group EBITDA Q4 2011 Total cash cost decreased 15% to US$882/oz q/q US$375m | 43% BPR mitigated mining inflation increases Rest of Group US$502m − Cost increases limited to 3% f
Slide 17: South Africa Region: Surface Strategy
South Africa Region: Surface Strategy Evaluating options to accelerate exploitation of surface resources at KDC Estimated KDC surface gold inventory (Moz) Active site Dormant site (KDC East) E t) Dormant site (KDC West) Total est. inventory: 4.8Moz Active sites (Moz) 06 0.6 09 0.9 15 1.5 Dormant sit
Slide 18: West Africa Region Overview
West Africa Region Overview Operationally sound Q4 production1 of 220koz (Q3: 234koz) Contribution to Group EBITDA Q4 2011 Total cash cost increased 7% to US$659/oz q/q US$232m | 26% BPR savings of $43million for the year Rest of Group US$645m Commissioned secondary crusher at Tarkwa − Ramp-
Slide 19: Australasia Region Overview
Australasia Region Overview Solid performance at St Ives and Agnew Contribution to Group EBITDA Q4 2011 2% increase in production to 172koz (Q3: 169koz) US$177m | 20% Total cash cost down 17% to US$741/oz q/q Rest of Group US$700m Songvang open pit mining ramped up Transition to owner mining
Slide 20: South America Region Overview
South America Region Overview Highest margin operation Q Q4 production p oduct o 1 o of 80 80koz o (Q3 (Q3: 9 94koz) o ) Contribution to Group p EBITDA Q4 Q 2011 US$94m | 11% − Decline in gold equivalent production mainly due to lower copper/gold price ratio Total cash cost down 1% to US$489/oz
Slide 21: Growth Projects
Growth Projects
Slide 22: Creating a globally diversified portfolio
Creating a globally diversified portfolio Arctic Platinum Creating a globally diversified portfolio Pre-Feasibility Producing Asset • 12Moz 2PGE + Au Development Project resource • Scoping Study Exploration Project confirms Platsol® process • Exploration and amenability in 2012 Woodjam JV Exploratio
Slide 23: South Deep Project
South Deep Project World class project management Forecast production build-up (koz) Capital infrastructure programme on track 800 700 Ramp up to 700koz run rate end 2015 600 500 Project capital development achieved 105% of 400 planned metres for the year 300 200 Improvement in de-stress min
Slide 24: Chucapaca Project: Resource pit shell
Chucapaca Project: Resource pit shell September 2011 Mineral Resource Model and Open Pit Shell (7.6Moz Aueq*) CCP10-137 E W CCP11-274 62.2m at 5.23g/t Au ~70% of Resource 25.8m at 2.00g/t Au from 409.4m from 619.8m Section 950W in the Indicated Section 1100W Category 7.6Moz Aueq* 450 m CCP11-289 g/t
Slide 25: Chucapaca Project: 2012 Objectives
Chucapaca Project: 2012 Objectives Indicati e deli Indicative delivery er timeline 2011 2012E 2013E 2014E 2015E 2016E Chucapacaˣ 400 to 600kozpa Aueq Explore* Develop^ Construct# 2012 Objectives Complete feasibility study during H2 2012 Submit EIA H2 2012 Development decision targeted for end
Slide 26: Chucapaca Project: Exploration potential
Chucapaca Project: Exploration potential Good exploration potential in the district... W E Titan Geophysics – Deep Search Ground IP ~ 2km Canahuire C° Chucapaca Agani CCP11_414 16m @ 0.6g/t Au 0 2km …Canahuire Canah ire – one of numerous n mero s targets that ha have e potential 26
Slide 27: Damang Super-pit Project: Pit shell
Damang Super-pit Project: Pit shell Proof of concept drilling demonstrated robust exploration target Juno Damang Huni 121 6m at 1 121.6m 1.74 74 g/t Au 180m at 2.42 g/t Au 605.4m at 0.63 g/t Au 408.4m at 0.52 g/t Au 270m at 0.95 g/t Au 425.4m at 0.71 g/t Au 348.8m at 1.1 g/t Au 143.8m at 3.93 g g/t
Slide 28: Damang Super-pit Project: 2012 Objectives
Damang Super-pit Project: 2012 Objectives Indicative delivery timeline 2011 2012E 2013E 2014E 2015E 2016E Damang Super-pitˣ 400 to 500kozpa p Au Explore* Develop^ Construct# 2012 Objectives Updated resource model expected in Q2 2012 Complete pre-feasibility study in H2 2012 Ongoing engagement
Slide 29: Far Southeast Project (FSE): Philippines
Far Southeast Project (FSE): Philippines High quality gold-copper porphyry with significant upside potential Option to acquire 60% interest Far Southeast 88 historic holes defined a high grade gold- Project Area copper porphyry Established infrastructure in a mining district Gold Fields init
Slide 30: Far Southeast Project: Geology and resource potential
Far Southeast Project: Geology and resource potential NW SE Enargite Prod: 1938 - 98 Prod: 1997 to present 1,600m 41Mt @ 3.3g/t Au 18Mt @ 7.71g/t Au 700 Drilling level Far Southeast A C Au-Cu Porphyry Exploration Target*: 500m 900Mt at 0.77g/t Au and 0.54% Cu 100 m (52Moz eq) (c/o ~0.8g/t Aueq^) -20
Slide 31: Far Southeast Project: 2012 Objectives
Far Southeast Project: 2012 Objectives Indicative delivery timeline 2011 2012E 2013E 2014E 2015E 2016E Far Southeastˣ Explore E l * l ^ Develop D t# Construct C t 4 to 25Mtpa ore 2012 Objectives Underground drilling to recommence in March 2012 Awaiting g Picture Complete initial resource estimat
Slide 32: Yanfolila Project, Mali
Yanfolila Project, Mali Komana scoping study Scoping a 1Moz to 2Moz starter project 100,506m RC and DD drilled in 2 years Good targets within 25km radius of the Komana deposits Multiple ore sources feeding a central 3Mtpa to 4Mpta CIL plant Kabaya South Solona 25km Sanioumale West radi
Slide 33: Yanfolila Project: 2012 Objectives
Yanfolila Project: 2012 Objectives Indicative delivery y timeline 2011 2012E 2013E 2014E 2015E 2016E Yanfolilaˣ 180 to 250kozpa Au Explore* Develop^ Construct# 2012 Objectives 48,000 meters of additional drilling planned for H1 2012 Resource upgrade and optimisation during H2 2012 Commence pre
Slide 34: Arctic Platinum Project (APP), Finland
Arctic Platinum Project (APP), Finland Detailed scoping study completed Q4 2011 Significant PGE-Cu-Ni Deposits Layered Intrusive Complexes Barents Sea Platsol® demonstrated as a technically viable process Norway Improved overall project recoveries On site production of saleable metals Kevitsa
Slide 35: Arctic Platinum Project: 2012 Objectives
Arctic Platinum Project: 2012 Objectives Indicative delivery timeline 2011 2012E 2013E 2014E 2015E 2016E Arctic Platinum 300 to 400kozpa 2PGE+Au Explore* Develop^ Construct# 2012 Objectives Aim to complete drilling on Suhanko North Platsol® amenability tests on new resources Resource upgrade a
Slide 36: APP Resource expansion & metallurgical test work
APP Resource expansion & metallurgical test work 21,867m completed out of 40,000m drilling programme 2012 exploration to focus on proving up resource potential of the Suhanko Extension deposits A A’ Suhanko North SUHANKO EXTENSIONS Tuumasuo Konttijärvi SUHANKO PROJECT Ahmavaara Vaaralampi 36
Slide 37: 5Moz in production or in development by 2015
5Moz in production or in development by 2015 Continue to improve the quality of the portfolio as measured by NCE per ounce APP FSE Yanfolila Damang Super pit Super-pit Chucapaca 5Moz in production or in South Deep development C Current tBBase 3.49Moz 2011 2015 Target 37
Slide 38: 2012 Guidance
2012 Guidance Production 3.5 to 3.7 million gold equivalent ounces Total cash costs US$860/oz R220 000/kg R220,000/kg NCE US$1 300/oz US$1,300/oz R335 000/kg R335,000/kg Project j realisation costs US$40/oz $ to US$70/oz $ Exchange rates R/US$8.00 and US$/A$1.00 38
Slide 39: Q&A
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