M E D I A
R E L E A S E
Gold Fields Limited
Reg. 1968/004880/06
24 St Andrews Road
Parktown, 2193
Postnet Suite 252
Private Bag X30500
Houghton, 2041
South Africa
Tel +27 11 644-2400 Dir +27 11 644-2460 Fa +27 11 484-0639
www.goldfields.co.za
Enquires
South Africa
Willie Jacobsz
Tel +27 11 644-2460 Fa +27 11 484-0639
North America
Cheryl A Martin
Tel +1 303 796-8683 Fa +1 303 796-8293
GOLD FIELDS PRODUCTION EXPECTED TO
INCREASE BY BETWEEN 5% AND 6% IN
DECEMBER QUARTER
Johannesburg, 18 November 2004: Shareholders of Gold Fields Limited (GFI: JSE and NYSE) are advised that production for the December 2004 quarter (Q2 F2005) is expected to increase by between 5% and 6% over that reported in the September 2004 quarter (Q1 F2005), with the South African operations expected to improve by approximately 3%.
Rand per kilogram unit costs are expected to improve by approximately 2%, and total rand per ton costs by more than 5%, on a group-wide basis, despite continuing inflation pressures. The Group margin is expected to increase from 17% to between 20%-23% while the margin for the South African operations is expected to be restored to double digits.
These expected improvement are largely due to the flow-through of benefits from sustainable revenue enhancement and cost reduction projects implemented specifically at Gold Fields' South African operations over the past year. Commenting on the improved operating performance expected for the December quarter, Ian Cockerill, Chief Executive Officer of Gold Fields said, "The performance from our South African operations has been excellent. We are now benefiting from the positive effects of the strategic repositioning of our high quality South African assets over the past year. The commitment of our people to our revenue enhancement and cost management initiatives are bearing fruit, and we will continue to deliver value to our shareholders."
Gold Fields shareholders are advised that the information described above has not been reviewed and reported on by Gold Fields auditors as referred to in either paragraph 3.4(B)(vi)(1)(aa) or (bb) of the JSE listing requirements
ends
In the United States, Gold Fields Limited ("Gold Fields") has filed a Solicitation/Recommendation Statement with the US Securities and Exchange Commission (the "SEC") on Schedule 14D-9 and holders of the Gold Fields Ordinary Shares and American Depositary Shares are advised to read it as it contains important information. Copies of the Schedule 14D-9 and
Directors: C M T Thompson* (Chairman), A J Wright (Deputy Chairman), I D Cockerill
(Chief Executive Officer),K Ansah
#
, G J Gerwel, N J Holland
(Chief
Financial Officer), J M McMahon
, G R Parker
, R L Pennant-Rea
, P J Ryan, T M G Sexwale, B R van Rooyen, C I von Christierson
*Canadian,
British,
American,
#
Ghanaian.
Corporate Secretary: C Farrel