Gold Fields Stake in Gold Fields La Cima Increases to 98.5%
JOHANNESBURG, South Africa, April 18 /CNW/ --
JOHANNESBURG, South Africa, April 18 /CNW/ - Gold Fields Corona (BVI)
Limited ('Gold Fields Corona'), a wholly owned subsidiary of Gold
Fields Limited (NYSE: GFI) and (JSE: GFI) today announced that it had
increased its stake in Gold Fields La Cima S.A.A. (La Cima) from 80.7%
to 98.5% following a voluntary offer to minorities in La Cima to
acquire their shares at a cost of US$379 million.
Gold Fields Corona announced a voluntary offer to acquire the
outstanding common shares and investment shares of Gold Fields La Cima
on 22 March 2011. The offer was for the 8% of the common shares not
already owned by Gold Fields Corona and for 100% of the investment
shares. The offer closed on Friday, 15 April 2011.
Gold Fields Corona's economic interest in La Cima is now:
-- 87.6 million common shares or 99% of total Common shares
-- 167.1 million investment shares or 95.1% of the total
Investment shares.
La Cima owns the Cerro Corona gold and copper mine in the Cajamarca
district of Peru, which has gold-equivalent Mineral Reserves of 5.3
million ounces and has been in production since 2008. It produces about
400,000 gold-equivalent ounces a year.
Nick Holland, Chief Executive Officer of Gold Fields Limited, said:
'This increases our stake in a world-class mine we know and understand
and gives us access to an additional 1 million ounces of long-life, low
cost ounces. We are pleased with the outcome, which brings us closer to
our strategic vision of owning 100% of the assets in our portfolio.'
Notes to editors
About Gold Fields
Gold Fields is one of the world's largest unhedged producers of gold
with attributable annualised production of 3.6 million gold equivalent
ounces from eight operating mines in Australia, Ghana, Peru and South
Africa. Gold Fields also has an extensive and diverse global growth
pipeline with four major projects in resource development and
feasibility, with construction decisions expected in the next 18 to 24
months. Gold Fields has total attributable gold equivalent Mineral
Reserves of 76.7 million ounces and Mineral Resources of 225.4 million
ounces. Gold Fields is listed on the JSE Limited (primary listing), the
New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in
Brussels (NYX) and the Swiss Exchange (SWX).
Sponsor: J.P. Morgan Equities Limited
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Enquiries: Investor Enquiries, Willie Jacobsz, Tel +508-839-1188, Mobile +857-241-7127, email Willie.Jacobsz@gfexpl.com; Nikki Catrakilis-Wagner, Tel +27-11-562-9706, Mobile +27(0)83-309-6720, email Nikki.Catrakilis-Wagner@goldfields.co.za; Media Enquiries, Sven Lunsche, Tel +27-11-562-9763, Mobile +27(0)83-260-9279, email Sven.Lunsche@goldfields.co.za
