Gold Fields announces total attributable Mineral Resources of 251.7 million ounces and Ore Reserves of 93.8 million ounces
ohannesburg, Gold Fields Limited (“Gold Fields”) (NYSE, JSE, DIFX: GFI) today published its Mineral Resource and Ore Reserve Statement for the 12 month period to 31 December 2006.
Total attributable precious metal Mineral Resources, inclusive of Ore Reserves, increased by 40% to 251.7 million ounces and total attributable Ore Reserves increased by 44% to 93.8 million ounces. Both numbers are net of 12 months’ depletion and include the acquisition of South Deep gold mine.
Ian Cockerill, Chief Executive Officer of Gold Fields said:
“We are pleased to be able to announce such a strong Resource and Reserve Statement that significantly increases our overall position, not only replacing the Reserves that we have mined but also helping to grow Gold Fields and underpin our strategic focus on securing the future.”
“Guided by our commitment to Corporate Governance, the consistency in reporting among our operating mines and compliance with public and internal regulatory codes of practice are paramount. The Mineral Resource Management processes utilised by the Group continue to improve through enhanced competent persons reporting. Gold Fields’ Resource and Reserve Statement has been audited by a leading independent global mining consultancy and is SAMREC compliant and aligned to the requirements of the Sarbanes-Oxley Act.”
Mineral Resources were calculated using a gold price of R135,000/kg in South Africa; A$875/oz in Australia; and US$650/oz in Ghana, Venezuela and Peru.
Ore Reserves were calculated using a gold price of R100,000/kg in South Africa; A$650/oz in Australia; and US$500/oz in Ghana, Venezuela and Peru, as per SEC guidelines.
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