Slide 1: June 2009 Resource and Reserve Declaration
June 2009 Resource and Reserve Declaration with updates on: South S th Deep D The Gold Mine Of the Future Taking Shape St Ives A Transformation underway. Gold Fields Limited 5 October 2009
Slide 2: Forward Looking Statement
2 INTRODUCTION Forward Looking Statement 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. Such forward looking statements involve known and unknown
Slide 3: Introduction
3 INTRODUCTION Nick Holland Chief Executive Officer
Slide 4: Attributable Global Numbers
4 INTRODUCTION Attributable Global Numbers June 2008 Depletion June 2009 Gold Equivalent Moz 250.6 4.1 271.1 Mineral Resources Uranium Mlbs 11.4 - 77.1 Mineral Resource Gold Equivalent Moz 82 8 82.8 38 3.8 81 1 81.1 Mineral Reserves 81 Moz OF MINERAL RESERVES = 20-YEAR LIFE OF MINE
Slide 5: Long Life Reserves
5 INTRODUCTION Long Life Reserves • Long Long-life life, quality reserve base; – 3rd largest mineral reserve base in the industry. – Six out of nine mines 5 Moz or greater greater. – Six out of nine mines 10-year LoM or greater. • Externally audited; – Robust gold prices used. FOUNDATION OF THE GOLD
Slide 6: Resources and Reserves Strategic Positioning
6 Resources and Reserves INTRODUCTION Strategic Positioning Development p is key y to unlocking g potential p of ore bodies. Targeting 24 months of development at South African operations. operations Short term mine plans based on paylimit of R195,000/kg in South Africa and cut-off t ff grades d cal
Slide 7: Development: Key Strategy
7 INTRODUCTION Development: Key Strategy Managed Mineral Resources Mineral Reserves (Moz) (Moz) Driefontein 52.8 18.2 Kloof 79.0 10.5 Beatrix 17.6 6.4 South Deep1 78.4 29.5 Tarkwa 16.2 10.7 Damang g 4.3 1.8 St Ives 5.6 2.3 Agnew 35 3.5 07 0.7 Cerro Corona2 8.1 5.5 1 Including Uncle Harry Harry’ss 2
Slide 8: Key Points
8 INTRODUCTION Key Points Much greater confidence in South Deep ore body and mine plan. Damang now a 9-year reserve life with significant upside. St Ives now a 5-year reserve life with potential at the Athena camp to double this. Tarkwa a ~15-year 15 year reserve life at a production rate of 750koz
Slide 9: Agenda
9 INTRODUCTION Agenda Tim Rowland June 2009 Mineral Resource and Mineral Head of Technical Division Reserve Declaration (Competent Person) Vishnu Pillay South Deep p H d S Head: South th Africa Af i Region R i Glenn Baldwin St Ives Head: Australasia Region Conclusion Nick Holland Questions and Answe
Slide 10: June 2009 Mineral Resource and Mineral Reserve Declaration
10 JUNE 2009 MINERAL RESOURCE AND MINERAL RESERVE DECLARATION Tim Rowland Head: Technical Division & Competent Person
Slide 11: Headline Numbers
11 INTRODUCTION Headline Numbers1 Managed Attributable • Gold Equivalent Mineral Resource • 262.1 Moz • 250.6 Moz 30 June • Uranium Mineral Resource • 11.4 Mlbs • 11.4 Mlbs 2008 • Gold Equivalent Mineral Reserve • 87.6 Moz • 82.8 Moz 12 • Production Depletion p from Resource • 4.4 Moz • 4.1 Moz Mont
Slide 12: Strategy
12 INTRODUCTION Strategy SAFE Operational p Excellence PRODUCTION ‘Delivery’ Realise Asset Potential RESERVE Definition Leverage Ore Body ‘Mine Design & Planning’ C Capability bilit Increase Operational Sustaining the Future Drive Resource flexibility and to Reserve margini conversion Near Mine Expl
Slide 13: Corporate Governance
13 INTRODUCTION Corporate Governance Transparency and materiality paramount Compliance with all relevant regulatory codes All Operations’ Mineral Resources and Mineral Reserves externally audited ~ 50% of the Mineral Reserves have been designed and scheduled at South Deep FULL COMPLIANCE IN REPORTIN
Slide 14: Key Assumptions
14 INTRODUCTION Key Assumptions Rigorous Mineral Resource and Mineral Reserve process and CPR reporting Mineral Reserve prices used (US$ 800/oz) in line with SEC (2 to 3 year average) Mineral Resource price used (US$ 1,000/oz) 25% leverage on the Mineral Reserve price Modifying factors based on hist
Slide 15: Metal Price
15 INTRODUCTION Metal Price 30 June 2009 30 June 2008 Location Units Reserve Resource Reserve Resource West Africa / South A - US$/oz Au US$/ 800 1 000 1,000 6 0 650 800 America Cu - US$/lb 2.203 2.753 1.75 2.10 Australia Au - A$/oz 1 000 1,000 1 250 1,250 750 925 Au - ZAR/kg 230,000 285,000 150,000
Slide 16: Managed Resources (Moz)
16 GOLD FIELDS OPERATIONS Managed Resources (Moz) G ld Equivalent Gold E i l t South S th America A i Gold Australasia 2 PGE +Au (Growth) Gold West Africa Gold South Africa (IncludesTSF gold) Note: excludes TSF (Tailing Storage Facility) and underground uranium uranium. Figures in brackets are compa
Slide 17: Managed Reserves (Moz)
17 GOLD FIELDS OPERATIONS Managed Reserves (Moz) Gold Australasia Gold Equivalent South America Gold West Africa Gold South Africa Figures g in brackets are comparable p from F2009 MINERAL RESERVE DECREASED BY 1.9 Moz – POST DEPLETION
Slide 18: Resource Status per Mine
18 GOLD FIELDS OPERATIONS SA REGION Resource Status per Mine Managed Resource (Gold, 2PGE and Cu-Au Eq. oz) 90 80.5 78.4 79.0 80 71.8 Eq. (Moz) 70 60 Gold, 2PGE & Au-Cu E 52.8 50 44.4 40 30 20 16.2 17.6 12.6 15.4 16.1 12.6 9 0 8.1 9.0 81 10 4.5 5.6 3.1 3.5 3.5 4.3 4.3 1.2 0 APP Kloof mang St Ives Ta
Slide 19: Reserve Status per Mine
19 GOLD FIELDS OPERATIONS Reserve Status per Mine Managed Reserves (Gold and Cu-Au Eq. oz) 35 29 5 29.5 30 29.1 Gold & Au-Cu Eq. (Moz) 25 19.7 20 18.2 15 11.1 11.3 10.5 10.7 10 6.7 6.4 5.9 5.5 5 1.4 1.8 1.9 2.3 0.6 0.7 0 ang kwa St Ives ona atrix Klloof Driefonttein eep new Cerrro Coro South De Dama
Slide 20: Grade Reconciliation: South Africa Region
20 SOUTH AFRICA REGION Grade Reconciliation Driefontein Gold Mine Kloof Gold Mine Change in Proved & Probable Reserve Grade Change in Proved & Probable Reserve Grade 10.0 10.0 9.0 03 0.3 9.0 0.4 8.0 0.3 8.0 0.5 0.9 7.0 7.0 Grade (g/t) Grade (g/t) 0.6 6.0 6.0 5.0 5.0 4.0 8.6 8.1 4.0 8.8 7.7 G 3.0 3.0
Slide 21: Grade Reconciliation: International Regions
21 INTERNATIONAL REGIONS Grade Reconciliation Tarkwa Gold Mine Damang Gold Mine Change in Proved & Probable Reserve Grade Change in Proved & Probable Reserve Grade 1.4 01 0.1 1.8 1 8 02 0.2 01 0.1 1.2 0.0 1.6 0.0 0.1 1.4 0 0 1.0 Grade (g/t) Grade (g/t) 1.2 0.8 1 0.6 1.2 1.2 1.7 1.6 0.8 G 04 0.4 06 0
Slide 22: South Africa Region Overview
22 SOUTH AFRICA REGION Overview Driefontein, Kloof, Beatrix & South Deep • Mineral Resources 232.1 232 1 Moz • Mineral Resources include acquisition of Uncle Harry’s 14.6 Moz • Mineral Resource includes TSF gold of 4.3 Moz • Mineral Reserves 64.7 64 7 Moz • South Deep Upper Elsburg’s (87 – 110 level
Slide 23: Pillar Mining Review
23 SOUTH AFRICA REGION Pillar Mining Review Pillar Mining Comparison as at 30 June 2009 Kloof Driefontein 25 000 25,000 1,258 20,000 1,398 1 459 1,459 783 15,000 Moz 802 891 10 000 10,000 1,424 1,189 16,985 16,021 5,000 8,844 8,441 0 F2009 F2010 F2009 F2010 Kloof Excl. Excl Pillars Kloof Pillars Klo
Slide 24: West Wits Tailings Project
24 SOUTH AFRICA REGION West Wits Tailings Project “5TH MINE IN SOUTH AFRICA” 24
Slide 25: West Wits Tailings Project
25 SOUTH AFRICA REGION West Wits Tailings Project West Wits Tailing Processing Project (TSF’s) • Drilled 30,000 metres in F2009 • Modelled and evaluated 13 TSF sites • Cut-off grade calculated per TSF at US$75 lb • Feasibility F ibilit study t d to t be b completed l t d by b end d F2010 • The under
Slide 26: West Africa Region Overview
26 WEST AFRICA REGION Overview Tarkwa and Damang • Mineral Mi l Resource R 20.5 20 5 M Moz • Mineral Reserve 12.5 Moz • Carbon In Leach (CIL) Plant expansion project at Tarkwa commissioned in January 2009 • High Pressure Grinding Roll (HPGR) pilot project to be commissioned in Q2 F2010 at Tarkwa • P
Slide 27: West Africa Overview: Huni Gap and Juno
27 WEST AFRICA REGION Overview DPCB DPCB Extension (Huni) Huni • Need to test underground potential (ramps & drill platforms) • Re-optimization of the Huni Pit in F2009 Huni Gap p revealed the existence of the ‘Huni Gap’ an i f information ti constrained t i d area off some 400m 400 along strike. N
Slide 28: Australasia Region Overview
28 AUSTRALASIA REGION Overview St. Ives and Agnew • Mineral Mi lRResource 9 9.1 1MMoz • Mineral Reserve 3.0 Moz • Extensional and brownfields discovery positive at SIGM and Agnew • Link drive between Agnew’s Kim and Main lodes will be completed early in F2010 (Q2) • Increase in Mineral Reserve ounce
Slide 29: South America Region Overview
29 SOUTH AMERICA REGION Overview Cerro Corona • Gold Mineral Resource 44.22 Moz • Copper Mineral Resource 1,429 million pounds • Cu-Au equivalent Mineral Resource 8.1 Moz • Gold Mineral Reserves 2.8 Moz • Copper Mineral Reserves 988 million pounds • Cu-Au equivalent Mineral Reserve 5.5 Moz • Revisio
Slide 30: South Deep
30 SOUTH DEEP THE MINE OF THE FUTURE TAKING SHAPE Vishnu Pillay Head: South Africa Region
Slide 31: Two Key Targets
31 SOUTH DEEP PROJECT Two Key Targets F2010 TARGET • Continue “Safe Production” improvements • Build-up to 300 koz (65 koz for Q1: Plan + 6%) • Commence optimisation to long hole stoping DECEMBER 2014 TARGET • Complete required infrastructure • Attain full production rate (~750 to 800 koz/pa) • Achi
Slide 32: F2010 Target
32 SOUTH DEEP PROJECT F2010 Target: 300 koz • Fully mechanised and modernised operation Jumbo drill rigs increased from 8 to 16 units over the past 8 months Achieved success with first long hole stopes • Motivated team in place Mark Morcombe appointed as Vice President – Australian mechanised
Slide 33: Shaft Infrastructure
33 SOUTH DEEP PROJECT Shaft Infrastructure Colour Coding: Red Up Cast. GreenDown Cast Twins Main Shaft Gold Rock Handling Capacity South Shaft Twins Ventilation Shaft Metallurgical Plant 1 4km 1.4km SV 1 SV 2 33 Lvl 50 Level Plugs 48 Lvl SV 3 51 Level Pump Intermediate Pump p 49 Lvl Station Stations
Slide 34: Progress To F2010 Target
34 SOUTH DEEP PROJECT Progress To F2010 Target 70 History Post - Acquisition 60 Gold Production (koz) • Reduction in VCR mining as of December ’07, 50 which hi h is i finally fi ll terminated t i t d in i March M h ’08 40 • Operation becomes fully mechanised post- 30 March ‘08 20 • 95 2-W and 95 3-W
Slide 35: December 2014 Target
35 December 2014 Target: SOUTH DEEP PROJECT ~750 to 800 koz • Detailed design and production schedule for next 30 years • Capital C it l programme on trackt k tot deliver d li k milestones key il t • All major infrastructure will be in place Development required to provide access to ore body Dee
Slide 36: Capital profile: F2010 to F2014
36 SOUTH DEEP PROJECT Capital profile: F2010 to F2014 Year Item F2010 F2011 F2012 F2013 F2014 94 Level Refrigeration Plant Phase 1 Twin Vent Shaft Tailings Storage Facility Plant Expansion to 330ktpm New Mine Development Phase 1 Total Capital (All projects) R1,727m R1,939m R2,199m R1,419m R1,126m No
Slide 37: Gold production profile & Costs: F2010 to F2015
37 Gold production profile & SOUTH DEEP PROJECT Costs: F2010 to F2015 25,000 400,000 Run rate Dec 2014 ~750 to 800 koz 350 000 350,000 20,000 300,000 g) Gold Prroduction (kg 250,000 15,000 R/kg 200,000 10,000 150,000 ~300 koz 100,000 5,000 50,000 - - F2010 F2011 F2012 F2013 F2014 F2015 Gold Producti
Slide 38: F2009 Operational Plan
38 SOUTH DEEP PROJECT F2009 Operational Plan Destress Mining Twin Shaft Complex 95 Level Bulk Mining Key Milestones (next 4-years) • Commission new Tailings Dam • Deepening & equipping of Ventilation Shaft • Complete Twin Shaft Infrastructure • Refurbish South Shaft Complex • Develop 100, 105, 110 L
Slide 39: F2010 Operational Plan
39 SOUTH DEEP PROJECT F2010 Operational Plan Twin Shaft Complex 4-W 4W 3-W 2-W 1-W • Vent Shaft deepening starts in January 2010 • Destressing in Phase 1 (3-W and 4-W) • Commissioning of Fridge Plant 1, 2 and 3 GREEN – DEVELOPMENT AND MINING IN F2010
Slide 40: F2011 Operational Plan
40 SOUTH DEEP PROJECT F2011 Operational Plan Twin Shaft Complex 105 Level • 105 Level reaches the 4-W Project RED – DEVELOPMENT AND MINING IN F2011
Slide 41: F2012 Operational Plan
41 SOUTH DEEP PROJECT F2012 Operational plan Twin Shaft Complex 2-W • 105 Level reaches 2-W • Destressing in Phase 1 (1-W and 2-W) • Bulk Mining in 3-W and 4-W BLUE – DEVELOPMENT AND MINING IN F2012
Slide 42: F2013 Operational Plan
42 SOUTH DEEP PROJECT F2013 Operational Plan Twin Shaft Complex Vent Shaft commissioning 110 Level 1-W • Vent Shaft commissioning in July 2012 • 105 Level reaches 1-W BROWN – DEVELOPMENT AND MINING IN F2013
Slide 43: F2014 Operational Plan
43 SOUTH DEEP PROJECT F2014 Operational Plan Twin Shaft Complex 110 Level towards Phase 1 South of Wrench • Top access to Phase 1 South of Wrench starts MAUVE – DEVELOPMENT AND MINING IN F2014
Slide 44: Scheduled Mineral Reserves
44 SOUTH DEEP PROJECT Scheduled Mineral Reserves Phase NoW and SoW Twin Shaft Complex • Mining of Phase 1 North of Wrench complete in F2040 Phase 1 North of Wrench 110 Level Phase 1 South of Wrench • Mining of Phase 1 South of Wrench starts in F2019 14.5Moz 49% OF OFMINERAL RESERVES RESERVES DESIGNE
Slide 45: Mineral Reserves: F2010
45 SOUTH DEEP PROJECT Mineral Reserves: F2010 Current Mine Current Mine Old Mine Twin Shaft Complex 3.4 Moz 1.1 Moz • Five-fold increase in designed Phase 1 VCR 1.6 Moz Phase 1 NoW Mineral Reserves 9.0 Moz by comparison to F2009 Wrench Fault Uncle Harry’s • Mineral Reserves Phase 1 SoW increased by
Slide 46: South Deep Conclusions
46 SOUTH DEEP PROJECT Conclusions • South Deep is a long-life world class ore body Mineral Reserves total 149 149.4Mt 4Mt at 6 6.1g/t 1g/t (~29 (~29.5Moz) 5Moz) Ore body geometry allows for efficient exploitation by modern mechanised mining methods (viz (viz. benching & long hole stoping) • Perf
Slide 47: St Ives
47 ST IVES A TRANSFORMATION UNDERWAY Glenn Baldwin Head: Australasia Region
Slide 48: A Significant Land Position
48 ST IVES GOLD MINE A Significant Land Position Kalgoorlie 50 km Cave Rocks (0.2 Moz Moz)) Greater Santa Ana (0.8 Moz Moz)) (Camp Scale potential) Belleisle (0.1 Moz Moz)) St Ives Greater Revenge (2.1 MozMoz)) (Camp scale potential) Lefroy Mill Leviathan (3.5 Moz Moz)) Heap Leach Argo
Slide 49: Athena Camp
49 ST IVES GOLD MINE Athena Camp Poseidon A DEVELOPING NEW CAMP Basalt Reserve Conversion Dolerite Blue Lode 4 Projects Resource Growth Apollo Clift Clifton 4 Projects Pollux Target Definition Zeus Athena 2 Projects Dido D Argo Hamlet •Zeus Yorick Macbeth – 2m @ 28.6 g/t – 5m @ 5.0 g/t • Dido Sedime
Slide 50: Athena Mineralisation
50 ST IVES GOLD MINE Athena Mineralisation South North 309m Long Section Sediment Oxide 0m South Shoot Central Shoot North Shoot 2-3m wide 5-12m wide 3-7m wide 8-20g/t 8 20g/t 5-12g/t 5 12g/t 3-9g/t 3 9g/t 69 holes 127 holes 13 holes Athena Paringa Basalt Basalt -300m 500m “RIVALS THE GREAT JUNCTION
Slide 51: Athena Mineralisation: Cross Section of the Central Shoot
51 ST IVES GOLD MINE Athena Mineralisation Cross Section of the Central Shoot •Hosted in Paringa Basalt. •Consistent Structure. •Mineralised for 500m on strike. •Drill defined to 600m below surface. Open on strike •Average Width 8m 8m. and at depth STEEPLY DIPPING WITH WIDTH & GRADE
Slide 52: Recent Intersection
52 ST IVES GOLD MINE Recent Intersection VISIBLE GOLD NUGGETS : STRIKE EXTENSION DRILLING
Slide 53: Athena Project
53 ST IVES GOLD MINE Athena Project KEY METRICS Project start date July 2009 First ore Q1 F2011 Full production Q1 F2012 Annual gold at full production 85 to 95koz Life of Mine 10 to 15 years y Initial capital cost A$95 million Average NCE at full production A$ 770/oz REAL VALUE POTENTIAL - 10 YEAR
Slide 54: Hamlet Recent Results
54 ST IVES GOLD MINE Hamlet Recent Results South North 309m Indicated 14m@13.1g/t @ g 10m@21.1g/t @ g Inferred 0m Grammetres 05 0-5 5-10 10-20 20-50 50-1000 Planned holes -200m Pending assay 500m Not drilled Precollar Drilled Drilled Awaiting Assays A SIGNIFICANT ORE BODY
Slide 55: Ongoing Exploration
55 ST IVES GOLD MINE Ongoing Exploration A$25 MILLION SPEND PLANNED FOR F2010
Slide 56: Athena - Hamlet Options
56 ST IVES GOLD MINE Athena - Hamlet Options TWO NEW GOLD PROJECTS ONE KILOMETRE APART
Slide 57: Athena Underground
57 ST IVES GOLD MINE Athena Underground • Mechanised long hole retreat stoping • Top down without backfilling initially • Proven mining methods and techniques • Consistent orebody strike Uniform Stope Shapes in Highly Competent rock • 25m floor-to-floor sublevel interval • Two Mines 1km Apart OPTI
Slide 58: Athena Accelerated Plan
58 ST IVES GOLD MINE Athena Accelerated Plan BOX CUT COMMENCED IN JULY
Slide 59: Production Profile
59 ST IVES GOLD MINE Production Profile 600 500 Current resource base supports sustained production 400 past F2020 p 300 200 100 0 F03 F04 F05 F06 F07 F08 F09 F10 F11 F12 F13 F14 F15 F16 F17 F18 F19 F20 Historical Production Forecast Production “MAKING THE LION ROAR” – THE GROWTH PHASE
Slide 60: St Ives Cash Cost Position After Royalty Termination
0 200 400 600 800 1000 1200 Ridgeway 1400 Cadia Hill Challenger C Charte ers Towers Peak Paulsen's Pajingo JV Mt Rawdon M ST IVES GOLD MINE Yandal Agnew First 25% of mines by cost Sandstone Coolgardie C Cracow Fosterville Stawell Mt Monger Sand Queen- JV Bendigo Norseman St Ives St Ives S Terminatio
Slide 61: St Ives Conclusions
61 ST IVES GOLD MINE Conclusions Athena camp 4 Moz potential Target to at least double the St Ives LoM Five underground mines by F2011 Targeting 500koz p.a. steady state production by F2012 THE TRANSFORMATION OF ST IVES
Slide 62: Conclusion
62 CONCLUSION Nick Holland Chief Executive Officer
Slide 63: Conclusions
63 CONCLUSIONS Gold Fields has robust Reserves. Long-term optionality for shareholders without hedge liabilities. liabilities S th Deep South D starting t ti to t realise li its it potential. t ti l International portfolio growing. Uranium Mineral Resource proven up – feasibility underway TO BE THE
Slide 64: Questions & Answers
64 QUESTIONS & ANSWERS