Gold Fields Limited · JSE:GFI
Gold Fields — Denver Gold Forum 2009
36 slides from Gold Fields's conference presentation, Sep 16, 2009
Slide 1: To Be The Global Leader In Sustainable Gold Mining
To Be The Global Leader In Sustainable Gold Mining Nick Holland Chief Executive Officer Gold Fields Limited Denver Gold Forum 14 – 16 September 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: Gold Fields Today
3 INTRODUCTION Gold Fields Today F2009 Production2 Producing mines 7% South America 17% 18% West Africa 58% South Africa Australasia Cerro Corona Tarkwa Damang Driefontein Kloof Agnew Beatrix St Ives South Deep South America West Africa South Africa Australasia June 08 Resources1 8.6 moz 18.9 moz 21
Slide 4: F2009: What We Promised
4 INTRODUCTION F2009: What We Promised A Step Change in Safety Complete Projects in Progress Stabilise Existing Mines Regionalisation Strategy Develop Growth Pipeline GENERATE FREE CASH FLOW
Slide 5: F2009: What We Delivered
5 INTRODUCTION F2009: What We Delivered A Step Change in Safety Best safety year ever. Fatalities reduced from 47 in F08 to 21 in F09. Infrastructure rehabilitation, secondary support backlog substantially completed. Complete Projects in Progress Stabilise Existing Mines Cerro Corona, Tarkwa CIL exp
Slide 6: F2009: What We Delivered - Production Growth and Cost Analysis
6 INTRODUCTION F2009: What We Delivered F2009 Production Growth F2009 US$/oz Cost Analysis 1,000 1,000 900 Free Cash 800 Flow Margin 900 700 600 koz US$/oz 500 Gold price 800 400 Cash costs 300 NCE 200 700 100 Q1 F2009 Q2 F2009 Q3 F2009 Q4 F2009 - Q1 F2009 Q2 F2009 Q3 F2009 Q4 F2009 PRODUCTION MACHI
Slide 7: NCE for Nine Months Ended March 2009
7 INTRODUCTION F2009: What We Delivered NCE FOR NINE MONTHS ENDED MARCH 2009 1000 903 900 773 774 783 785 800 679 700 600 US$/oz 500 400 300 200 100 0 AngloGold Ashanti Gold Fields Harmony Peer Average Barrick Gold Newmont NCE: Notional Cash Expenditure = total operating costs plus all capital One t
Slide 8: New Discoveries Declining
8 INTRODUCTION New Discoveries Declining Moz Historic average to 1995 is that 75% of discovered ounces are mined 300 Unknown Advanced Exploration Feasibility 250 Stalled Construction 200 Operating Mine Closed Mine 150 100 50 0 1950 1960 1970 1980 1990 2000 2010 Industry is being sustained by maturin
Slide 9: Quality Declining
9 INTRODUCTION Quality Declining Average resource grade for all primary gold discoveries >1Moz in the world g/t Au 10 3-year rolling average Grades trending towards a 8 minimum. To go significantly below the average will require a 6 quantum shift in technology. 4 2.32 g/t in 1980 2 1.10 g/t in 2007
Slide 10: The Bedrock of Gold Fields
10 SOUTH AFRICA REGION The Bedrock of Gold Fields Steady State Tons Gold Produced Gold 18.0 Production Steady State • Driefontein - a stable performer. 6.5 t/q ~550 koz/q 17.5 • Beatrix – showing strong recovery. 3.3 t/q • South Deep – building up. 2.4 t/q 17.0 • Kloof - can do better. 5.5 t/q 16.5
Slide 11: South Deep Project
11 SOUTH AFRICA REGION South Deep Project • F2010 build-up to 300koz underway – South Shaft Complex Refurbished. – Mechanised fleet doubled. – Team in place. • On track for F2014 target of 750koz to 800koz – Ventilation Shaft on schedule - mid-2012 commissioning. – Capital development accelerating.
Slide 12: South Deep Project: Mineral Reserves
12 SOUTH AFRICA REGION South Deep Project OLD MINE 1.0 Moz South Shaft Complex 87 L Twin Shaft Complex CURRENT MINE 3.3 Moz 95 L PHASE 1 12.5 Moz Wrench Fault UNCLE HARRY’S PHASE 2 12.3 Moz 110 L MINERAL 320RESERVES – END KOZ BY Q1 JUNE ‘08 F2010
Slide 13: South Deep Project: Status Quo F2009
13 SOUTH AFRICA REGION South Deep Project Twin Shaft Phase 1 North of Wrench Fault Complex Destress Mining 95 Level Bulk Mining Current extent of mining (voids) STATUS QUO F2009
Slide 14: South Deep Project: F2010 Operational Plan
14 SOUTH AFRICA REGION South Deep Project Twin Shaft Phase 1 North of Wrench Fault Complex 4-W 3-W 2-W 1-W • Vent Shaft deepening starts in January 2010 • Destressing in Phase 1 (3 and 4 West) • Commissioning of Fridge Plant 1,2 and 3 F2010 OPERATIONAL PLAN
Slide 15: South Deep Project: F2011 Operational Plan
15 SOUTH AFRICA REGION South Deep Project Twin Shaft Phase 1 North of Wrench Fault Complex 105 Level 105 Level reaches the 4-West Project F2011 OPERATIONAL PLAN
Slide 16: South Deep Project: F2012 Operational Plan
16 SOUTH AFRICA REGION South Deep Project Twin Shaft Phase 1 North of Wrench Fault Complex 2-W •105 Level reaches 2-W •Destressing in Phase 1 (1 and 2-West) •Bulk Mining in 3 and 4W F2012 OPERATIONAL PLAN
Slide 17: South Deep Project: F2013 Operational Plan
17 SOUTH AFRICA REGION South Deep Project Twin Shaft Phase 1 North of Wrench Fault Complex Vent Shaft 110 commissioning 1-W Level •Vent Shaft commissioning – July 2012 •105 Level reaches 1-W F2013 OPERATIONAL PLAN
Slide 18: South Deep Project: F2014 Operational Plan
18 SOUTH AFRICA REGION South Deep Project Twin Shaft Phase 1 North of Wrench Fault Complex 110 Level towards Phase 1 South of Wrench Top access to Phase 1 South of Wrench starts F2014 OPERATIONAL PLAN
Slide 19: South Deep Project: Scheduled Reserves
19 SOUTH AFRICA REGION South Deep Project Scheduled Reserves: Phase NoW and SoW Twin Shaft Complex 110 Level Key Milestones (next 3-years) • Commission new Tailings Dam • Deepening & equipping of Ventilation Shaft • Complete Twin Shaft Infrastructure • Complete refurbish of South Shaft Complex • Dev
Slide 20: Uranium Project
20 SOUTH AFRICA REGION Uranium Project Mineral Resource: TSF’s and Underground Grade Content Classification Tonnes (Mt) Uranium Gold (g/t) Uranium (kg/t) Gold (koz) (Mlbs) TSF’s Measured 439 0.301 0.052 4,246 50.6 Inferred 14 0.230 0.027 102 0.8 Total TSF’s 453 0.299 0.052 4,348 51.4 UNDERGROUND Inf
Slide 21: Delivering Organic Growth - Australasia
21 AUSTRALASIA REGION Delivering Organic Growth Steady State Koz Gold Produced Gold Steady State Production 180 ~170 koz/q 160 • Agnew – a steady producer. 50 koz/q •St Ives – moving back to a 500koz 120 koz/q 140 p.a. producer. 120 100 • YoY reserve growth from 2.4 moz to 3.0 moz. • Replaced deplet
Slide 22: Australasia Cash Cost Curve and St Ives Royalty Termination
1000 1200 1400 200 400 600 800 0 Ridgeway Cadia Hill Challenger Charters Towers Peak Paulsen's Pajingo JV Mt Rawdon Yandal Agnew First 25% of mines by cost AUSTRALASIA REGION Sandstone Coolgardie Cracow Fosterville Stawell Mt Monger Sand Queen- JV Bendigo Norseman St Ives St Ives Termination After R
Slide 23: St Ives: Argo-Athena Camp
23 AUSTRALASIA REGION St Ives: Argo-Athena Camp Poseidon A DEVELOPING NEW CAMP Basalt Reserve Conversion Dolerite Blue Lode 4 Projects Clifton Resource Growth Apollo Pollux 4 Projects Target Definition Zeus Athena Dido 2 Projects Argo Hamlet •Zeus Yorick Macbeth – 2m @ 28.6 g/t – 5m @ 5.0 g/t • Dido
Slide 24: St Ives: Athena Project
24 AUSTRALASIA REGION St Ives: Athena Project Cross Section With Borehole Intersections Open on strike and at depth THE TRANSFORMATION OF ST IVES
Slide 25: Delivering Organic Growth - West Africa
25 WEST AFRICA REGION Delivering Organic Growth Steady State Koz Gold Produced Gold 300 Production Steady State ~260 koz/q • Tarkwa – moving to 750 koz to 200 koz/q 250 800 koz p.a. • Damang – a steady producer. 60 koz/q 200 Tarkwa • New mill - steady state of 1mtpm in August. 150 • 190 koz to 200 k
Slide 26: Damang Exploration Focus
26 WEST AFRICA REGION Damang Exploration Focus Greater Damang Damang North (Huni, Juno and Tamang) • 1300m metres RC • 8000 metres RC/DD • US$0.45m Nyame • US$ 1.56m Drilling started on two significant • 1,300m RC/DD Koduakrom extensional projects: • US$ 0.41m • 4600 metres AC/RC • US$0.61m Greater
Slide 27: Greater Damang Pit
27 WEST AFRICA DAMANG GOLDREGION MINE Greater Damang Pit Extend LoM from 2019 to 2025 • Huni Gap • Juno N S DAMANG “SUPER PIT” EMERGING
Slide 28: Komana/Sankarani Projects
28 WEST AFRICA REGION Komana/Sankarani Projects Reconnaissance Licenses License under application Komana Sankarani Licenses Developing new gold camp – under explored. Bokoro ₤28 million acquisition of Finguana Glencar Mining; Sanioumale - +80% of shares tendered. +70,000m drilling planned for F2010.
Slide 29: Komana West Deposit
29 WEST AFRICA REGION Komana West Deposit Gold mineralisation tested along 1,700m, remains open to the north N 4m@22.06g/t from 7m 35m@3.97g/t from 39m 5m@6.09g/t from 35m 11m@38.9g/t from 100m 1,700 metres 22m@3.0g/t from 91m 73m@4.40g/t from 53m 1m@77.65g/t from 122m 200m
Slide 30: Komana East Deposit
30 WEST AFRICA REGION Komana East Deposit Potential for high grade oxide ore from near surface N 36m@1.47g/t from 15m 19m@3.10g/t from 49m 20m@4.35g/t from 75m 1m@0.75g/t from 88m 1,700 metres 13m@17.95g/t from 114m 22m@1.83g/t from 127m
Slide 31: A New Region Established - South America
31 SOUTH AMERICA REGION A New Region Established KOZ Steady State Gold Equivalent Ounces Gold Production 100 Steady State ~88 eq koz/q 90 • Cerro Corona ~88 eq koz/q# 80 70 Cerro Corona 60 • +5moz ore body. • Producing at name plate capacity. 50 • Well capitalised, capital reduces after F2010. 40 •
Slide 32: Peru: Chucapaca JV
32 SOUTH AMERICA REGION Peru: Chucapaca JV N 54m @ 2.64g/t Au CERRO (246m) CORONA 170m @ 3.3g/t Au (80m) Include 64m @ 5.8g/t (to EOH) 59.8m @ 3.13g/t Au, 15g/t 44.05m @ 8.95g/t (182.4m) Ag & 0.49% Cu (157m) 58.7m @ 1.94g/t Au (241m) LIMA CHUCAPACA PROJECT • Completing back-in to earn 51% interest w
Slide 33: Talas Copper-Gold JV
33 KYRGYZSTAN Talas Copper-Gold JV TALAS COPPER GOLD JV LICENCES Taldybulak Levoberezhny (3Moz) Muruntau Almalyk (175Moz) (93Moz) Jerooy Kumtor (3Moz) (17Moz) Amantaytau (10Moz) Zarmitan (11Moz) Jilau (3Moz) • Northern Tien Shan Belt, JV with Orsu Metals Corp • 60% earn in - end Q2 F2010, additional
Slide 34: Project Pipeline
34 EXPLORATION Project Pipeline Exploration Advanced Scoping Feasibility Construction X Bonsa Rex Chida X X X X X X (Damang) Waroonga- Phase 2 Athena Camp Athena X Uranium Apollo Redeemer Corridor (Cerro Corona) (St Ives) Project (St Ives) (St Ives) (Agnew) X Amoanda/Tomento X X Hualgayoc JV Greater
Slide 35: Five Good Reasons to Own Gold Fields
35 FIVE GOOD REASONS CONCLUSIONS TO OWN GOLD FIELDS 1. Unhedged. 2. Free cash flow focus. 3. Growth pipeline - upgrading quality of portfolio. 4. Large and growing reserve base. 5. Growing regional diversification. TO BE THE GLOBAL LEADER IN SUSTAINABLE GOLD MINING
Slide 36: To Be The Global Leader In Sustainable Gold Mining
To Be The Global Leader In Sustainable Gold Mining Nick Holland Chief Executive Officer Denver Gold Forum 14 – 16 September 2009