Slide 1: Gold Fields Q4F2010 Results
Gold Fields Q4F2010 Results Johannesburg, 5 August 2010 1
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 S Securities iti Exchange E h A t off 1934. Act 1934 Such forward looking statements involve known and u
Slide 3: Introduction: Programme
Introduction Programme g Introduction Nick Holland Financial review Paul Schmidt Region operational summaries • South Africa region g Vishnu Pillayy • West Africa region Peter Turner • South America region Juancho Kruger • Australasia region Richard Weston C Conclusion l i Ni k H Nick Holland ll d 3
Slide 4: Q4F2010 Highlights
Introduction Q4F2010 Highlights g g • Best safety year ever – SA gold industry leader • Attributable gold production up 13% to 898koz • Record R d production d ti quarter t att T Tarkwa k • Total cash cost and NCE down 2% & 3%, respectively • NCE margin up from 9% to 18% • Earnings triple to R900 mi
Slide 5: F2010 Scorecard: Sweating our assets
Introduction F2010 Scorecard • Attributable production up 2% to 3 3.5m 5m oz • South Deep up 52% from 175koz to 265koz • Cerro Corona* Corona up 80% from 219koz to 394koz • Tarkwa* up 20% from 612koz to 721koz Sweating our assets • NCE margin • Up 2% from 13% to 15% • Reviewing gpprocesses & structu
Slide 6: F2010 Scorecard: Growing Gold Fields
Introduction F2010 Scorecard Greenfields • Chucapaca initial resource 5.6m eq oz • Yanfolila progressing well Growing Gold Fields Brownfields • St. Ives & Agnew – resource growth • Cerro Corona – oxide expansion • Damang & Tarkwa - growth Towards 5moz in production or development by 2015 6
Slide 7: F2010 Scorecard: Securing Our Future
Introduction F2010 Scorecard • Best safety year ever – second consecutive year • South Deep new order mining right executed • 2014 BEE equity targets by Dec 2010 Securing Our Future • IAS / SAMREC Award for best reporting of R&R • Cerro Corona - Peru’s safest open pit mine • Pioneers carbon trading
Slide 8: Annual Financial Results - Group Salient Features
Introduction Annual Financial Results - Group p Salient Features • Attributable gold production up 2% to 3.5m oz • Total cash cost up 5% at R157,360/kg • NCE flat at R225,000/kg • NCE margin up 2% from 13% to 15% • Net earnings up 136% to R3.6 billion Net Earnings More than Double 8
Slide 9: Q4F2010 NCE margin
Introduction Q4F2010 NCE margin 1200 1000 800 $/oz 600 400 200 Q1F2010 Q2F2010 Q3F2010 Q4F2010 Gold Price NCE Cash Cost Focused on Free Cash Flow 9
Slide 10: South Deep Project
Introduction South Deep p Project j 800 Prroduction (ozz) 600 400 200 0 F2009 F2010 F2011 F2012 F2013 F2014 2.5 Capitall (Rbn) 2 1.5 1 0.5 0 F2009 F2010 F2011 F2012 F2013 F2014 Plan Actual Achieving Momentum at South Deep 10
Slide 11: Financial Review
Financial Review Paul Schmidt Chief Financial Officer 11
Slide 12: Group Salient Features
Financial Review Group p Salient Features Description Units Q4F2010 Q3F2010 Att ib t bl gold Attributable ld produced d d k koz 898 793 R/kg 287,454 265,641 Revenue $/oz 1,191 1,102 Rm 8,803 7,280 Operating cost Rm 5,103 4,758 Operating margin % 42 35 Operating profit Rm 3,738 2,570 R/kg 166,215 169
Slide 13: Group Salient Features: Earnings
Financial Review Group p Salient Features Description Units Q4F2010 Q3F2010 N earnings Net i R Rm 900 316 SA cps 128 44 Net earnings per share US cps 17 6 SA cps 134 45 Normalised earnings per share US cps 18 6 Normalised Earnings up 200% 13
Slide 14: Final dividend calculation
Financial Review Final dividend calculation Description cps Rm Net earnings 3,631 Less growth capital – South Deepp ((1,613) , ) – Glencar acquisition (340) Net earnings after growth capital 1,678 Earnings for total dividend (50% of earnings after growth) 120 839 Less interim dividend cps (50) FINAL
Slide 15: Cash Flow
Financial Review Cash Flow Q4F2010 Q3F2010 Cash flow from operating p g activities Rm 3,650 , 2,583 , Cash flow from investing activities (1,890) (1,754) Cash flow before financing activities 1,760 829 Dividends to minority shareholders (175) (353) Cash flow from financing activities (666) 578 Net c
Slide 16: Balance Sheet
Financial Review Balance Sheet • Refinanced $311m Revolving Credit Facility (RCF) maturity May 2010 • New $450m 3-year RCF • Libor + 175bps down from Libor + 275 bps • Short term Commercial Paper (R3.6bn) covered by committed facilities • ~$1bn in available facilities Debt maturity profile 30 June 2
Slide 17: South Africa Region
South Africa Region Vishnu Pillay EVP South Africa Region 17
Slide 18: Safety
South Africa Region Safety y FIFR 0.4 • Seismic mitigation measures implemented 0.3 • No seismic related fatal accident in last 6 0.2 months 01 0.1 0 • All secondary support backlog complete F2005 F2006 F2007 F2008 F2009 F2010 • Second S dDDu P Pontt audit dit undertaken d t k – confirms fi SIFR pro
Slide 19: South Africa Region Salient Features
South Africa Region Salient Features Units Q4F2010 Q3F2010 Gold production g kg 15,184 12,297 Total cash cost R/kg 187,770 214,467 NCE R/kg 272,669 310,490 NCE ex South Deep R/kg 253,221 284,575 NCE margin % 6 (16) NCE margin ex South Deep % 12 (7) Capex Rm 1,236 1,085 • Safe S f production d ti up
Slide 20: South Deep Project
South Africa Region South Deep p Project j 200 2,400 • Production up 21% 2 200 2,200 • 46% of capital self-funded up from 13% 150 2,000 • Main development up by 6% (sub-95 m) g) Production (kg ps Profit (Rm Level up by 14%) %) 1,800 100 • Vent shaft deepening commenced 1,600 Op • F2011 Production Ou
Slide 21: South Deep Capital Project
South Africa Region South Deep p Capital p Project j Capital Programme F2010 to F2014 Year Q4 F2010 Item F2010 F2011 F2012 F2013 F2014 Status Refrigeration Plant 3 Twin Vent Shaft 3 Tailings Storage Facility 3 Plant Expansion to 450ktpm 3 New Mine Development 3 Total Capital Actual R1.6bn Base Plan
Slide 22: Driefontein Gold Mine
South Africa Region Driefontein Gold Mine 600 7,000 • Production up 26% 6,000 500 • NCE margin of 19% up from 3% 5,000 • Main development up 20% m) g) Production (kg ps Profit (Rm 400 • Evaluating options below 50 Level 4,000 300 • F2011 Production Outlook 710koz to Op 3,000 770koz 200 2,000 100 1,0
Slide 23: Kloof Gold Mine
South Africa Region Kloof Gold Mine 400 5,000 • Production up 31% 4,500 , • NCE margin of 5% 300 4,000 • Alternative water handling system m) g) 3 500 3,500 Production (kg ps Profit (Rm completed 200 3,000 • Main development up 26% Op 2,500 • Commenced 46 Level development at 4 100 2,000 Shaft 1,500
Slide 24: Beatrix Gold Mine
South Africa Region Beatrix Gold Mine 300 2,900 • Production up 11% 2,800 2,700 • NCE margin of 10% 200 2,600 • Main development up 16% m) g) Production (kg ps Profit (Rm 2,500 • Commenced pillar mining at South 2,400 Section Op 100 2,300 • F2011 Production Outlook 385koz to 420koz 2,200 2,100 0 2,0
Slide 25: F2011 Focus
South Africa Region F2011 Focus • Improve margins by reviewing processes & structures • Further improve safety • Increase development at long long-life life shafts • Build on South Deep momentum • Re-engineer mines for energy efficiency Driving Safe Production and NCE margin 25
Slide 26: West Africa Region
West Africa Region Peter Turner EVP West Africa Region 26
Slide 27: West Africa Region Salient Features
West Africa Region Salient Features Units Q4F2010 Q3F2010 Gold production -000’oz 257 227 Total cash cost US$/oz 623 589 NCE US$/oz 795 783 NCE margin % 34 30 Capex US$m 53 47 • Production up 13% • Record R d production d ti quarter t att T Tarkwa k • Business process re-engineering to improve margi
Slide 28: Tarkwa Gold Mine
West Africa Region Tarkwa Gold Mine 150 300 • Production up 16% to 200,200 oz 250 • NCE margin of 36% up from 30% 100 • CIL plant at 99.5% of nameplate Prroduction (ozz) m) ps Profit ($m 200 • Free cash flow of $85m 150 • F2011 p production outlook 720koz to Op 50 760koz 100 0 50 Q3F2010 Q4F2010 Ope
Slide 29: Damang Gold Mine
West Africa Region Damang g Gold Mine 40 80 • Production up 6% • NCE margin of 27% 30 60 • Secondary crusher successfully Prroduction (ozz) m) ps Profit ($m commissioned 20 40 • Damang Super Pit concept study underway Op 10 20 • F2011 Production Outlook 220Koz to 240Koz 0 0 Q3F2010 Q4F2010 Operating
Slide 30: Yanfolila Project - Mali
West Africa Region Yanfolila Project j - Mali 196 163 163 112 112 Essakane 20 YANFOLILA PROJECT Sadiola Loulo 20 Morila Siguiri Syama An Emerging Camp in Elephant Country 30
Slide 31: Yanfolila Project - Mali
West Africa Region Yanfolila Project j - Mali NEW TARGETS Sanioumale 15m@10.2g/t from 13m Komana West Komana East KW Gonka BM Targeting 2Moz Reserve within 30km radius of Komana within 3yrs Near Surface Mining Opportunities 31
Slide 32: Yanfolila Project - Komana East
West Africa Region Yanfolila Project j - Mali 11m@2.6g/t @ g from 34m 18m@4.5g/t from 33m • 3 high grade zones 2m@5.7g/t from 34m • Shallow oxide opportunities 22m@4 8g/t from 7m 22m@4.8g/t • Free dig mining potential 21m@20.8g/t from 53m • Open to North, South & at depth 53m@6.5 g/t from 8m 51m@4 1
Slide 33: Australasia Region
Australasia Region Richard Weston EVP Australasia Region 33
Slide 34: Australasia Region Salient Features
Australasia Region Salient Features Units Q4F2010 Q3F2010 Gold p production koz 149 148 Total cash cost US$/oz 703 681 NCE US$/oz 1,080 931 NCE margin % 10 15 Capex A$m 61 36 • Quarterly production stable • Investment in cost improvement and growth capex at Agnew & St. Ives • Gold mining industry ex
Slide 35: St Ives Gold Mine
Australasia Region St Ives Gold Mine 100 200 • Production up 10% • NCE margin up from 9% to 19% 80 • Developing pipeline of “projects to go” 150 m) • Athena development p on schedule Prroduction (ozz) Ops Profit (A$m 60 • Hamlet feasibility due Q4F2011 • Yorick exploration commenced 40 • Business pr
Slide 36: St. Ives: Argo-Athena-Hamlet
Australasia Region St. Ives: Argo-Athena g Hamlet Defined Endowment +3.5Mozs – With Significant Potential 36
Slide 37: Agnew Gold Mine
Australasia Region Agnew g Gold Mine 40 50 • Production of 32koz • NCE margin g -22% % - OM investment 40 30 • Production to increase Q1 & Q2 F2011 • Increase tons from Main and Rajah ps Profit (A$m) oz) Prroduction (o 30 • Complete OM transition 20 • Return to in-sequence mining 20 Op • Encouraging
Slide 38: Agnew Mine - Waroonga deposit
Australasia Region Agnew g Mine - Waroonga g deposit p Encouraging Kim Deep – Main North drilling started 38
Slide 39: South America Region
South America Region Juancho Kruger EVP South America Region 39
Slide 40: Cerro Corona Mine
South America Region Cerro Corona Mine Units Q4F2010 Q3F2010 G ld production Gold d ti k koz 34 38 Copper production tons 10,500 11,100 Total Gold production Eq koz 97 110 - Gold g/t 07 0.7 08 0.8 Yield - Copper % 0.74 0.75 Total cash cost US$/eq oz 369 303 NCE US$/eq oz 502 532 NCE margin % 54 50 C
Slide 41: Chucapaca Project
South America Region Chucapaca p Project j Canahuire • Canahuire Deposit • Positive P iti conceptual t l study t d completed l t d iin Q4 • Initial resource 5.6m eq oz • Robust mineralisation – open to the west Cerro Chucapaca • Advance to pre-feasibility – Q3 2011 • Further scoping an in-fill drill
Slide 42: Canahuire Resource Model and Pit Shell
Gold Fields International Exploration Robust Grades Open p to West W CCP09-63 E 40m @ 7.84g/t Au 1.3km 350m 100E 300W 700W CCP09-60 Looking North 127.4m @ 8.55g/t Au uncut Canahuire Resource Model and Pit Shell 42 42
Slide 43: South America F2011 Focus
South America Region F2011 Focus Cerro Corona • Increase throughput to 800tph (vs. 750tph @ design) • Complete detailed engineering of oxide plant & start construction early 2011 • Complete sulphide plant optimisation • Growth • Alternatives to TSF capacity constraints • Drilling program Chucapaca •
Slide 44: Conclusion
Conclusion Nick Holland Chief Executive Officer 44
Slide 45: South Deep License - BEE Transactions
South Deep License - BEE Transactions South Deep • New order mining right for South Deep executed • All South African mines now have new order mining rights BEE Transactions • Terms of 3 BEE transactions approved • 10% for f 15 years - 13.5m 13 5 Gold G ld Fields Fi ld shares h • Vendor financed dea
Slide 46: F2011 focus
Conclusion F2011 focus • Further significant improvement in safety • Drive annual group NCE margin from 15% to 20% • Maintain momentum at South Deep • Continue with growth through exploration • Strong focus on advancing the growth pipeline • F2011 Production Outlook 3 3.5moz 5moz – 3.8moz 3 8moz Saf
Slide 47: Q&A
Q&A 47