GOLD FIELDS LIMITED A DEEP VALUE OPPORTUNITY FNB Showcase – October 2010 Nikki Catrakilis-Wagner Investor Relations 1
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 Securities Exchange Act of 1934 Securities Exchange Act of 1934. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions exploration and development activities; decreases in the market price of gold acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; inflation and other macro-economic factors, industrial action, temporary stoppages of mines for safety and i f t i d t i l ti t t f i f f t d unplanned maintenance reasons; and the impact of the AIDS crisis in South Africa. These forward looking statements speak only as of the date of this document. The company undertakes no obligation to update publicly or release any revisions to these The company undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. 2 FNB Showcase October 2010
Agenda • Strategy • F2010 Scorecard • Focus for F2011 F f F2011 • Growth strategy • Balance Sheet • Investment case Sustainable gold mining 3 FNB Showcase October 2010
Strategic Framework Group Strategy p gy Focused on Free Focused on Free Cash Flow Sweating our assets Securing our future Growing Gold Fields Unhedged To be the Global Leader in Sustainable Gold Mining 4 FNB Showcase October 2010
Strategic Framework F2010 Scorecard • Attributable production up 2% to 3.5m oz Attributable production up 2% to 3 5m oz • South Deep up 52% from 175koz to 265koz • Cerro Corona up 80% from 219koz to 394koz • Cerro Corona* up 80% from 219koz to 394koz • Tarkwa* up 20% from 612koz to 721koz Sweating our assets Sweating our assets • NCE margin • Up 2% from 13% to 15% Up 2% from 13% to 15% *Managed Improving the margin per oz 5 FNB Showcase October 2010
Strategic Framework F2010 Scorecard Greenfields Greenfields • Chucapaca initial resource 5.6m eq oz • Yanfolila progressing well • Yanfolila progressing well Brownfields Growing Gold Fields Growing Gold Fields • St. Ives & Agnew – resource growth • Cerro Corona – oxide expansion • Damang & Tarkwa - growth Towards 5moz in production or development by 2015 6 FNB Showcase October 2010
Strategic Framework 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 Securing Our Future • IAS / SAMREC Award for best reporting of R&R • Cerro Corona - Peru’s safest open pit mine • Pioneers carbon trading in gold industry To be the Global Leader in Sustainable Gold Mining 7 FNB Showcase October 2010
Introduction F2010 NCE margin 1200 1000 1000 800 $/oz 600 400 400 200 Q1F2010 Q2F2010 Q3F2010 Q4F2010 Gold Price NCE Cash Cost Focused on free cash flow 8 FNB Showcase October 2010
Operational Performance South Deep Project p j 800 z) 600 600 roduction (oz 400 200 200 Pr 0 F2009 F2010 F2011 F2012 F2013 F2014 2.5 l (Rbn) 2 1.5 1.5 Capital 1 0.5 0 F2009 F2010 F2011 F2012 F2013 F2014 Plan Actual Achieving momentum at South Deep 9 FNB Showcase October 2010
Operational Performance South Deep Project p j Capital Programme F2010 to F2014 Year Q4 F2010 Item Item F2010 F2011 F2012 F2013 F2014 Status Refrigeration Plant Twin Vent Shaft Tailings Storage Facility Plant Expansion Plant Expansion New Mine Development R1.6bn Actual Total Capital R1.8bn R1.9bn R2.1bn R1.5bn R1.2bn Base Plan Note: Capital estimates in July 2009 money South Deep Project capital efficient and on track 10 FNB Showcase October 2010
Conclusion F2011 focus • South Africa • Safe production Safe production • Ore reserve development • South Deep • Maintain momentum • 20% NCE margin • Volume growth • Business process re-engineering • Advancing the growth pipeline Safe profitable ounces 11 FNB Showcase October 2010
Strategic Framework Growth Strategy gy 5 million ounces per year, in development or in production development or in production, by 2015 South Africa Region Australasia Region West Africa Region South America Region 2 moz 1 moz 1 moz 1 moz Value adding growth 12 FNB Showcase October 2010
Strategic Framework Gold Fields international exploration p • Less discoveries mean • Increasing competition among majors and mid tiers to acquire resources • Increasing competition among majors and mid-tiers to acquire resources • Decreasing quality of resources available for acquisition • Increasing prices – gold and assets • No M&A heroics = value accretive growth through the drill bit • Greenfields exploration doubled • US$40M (F2008) • US$80M (F2010) • Near mine exploration maintained • US$51M (F2008) • US$52M (F2010) Increased exploration commitment yielding results 13 FNB Showcase October 2010
Gold Fields international exploration Supporting regional growth and developing new frontiers pp g g g p g 6.2Mozeq resource announced by Orsu Metal Corp. Metal Corp Consolidated the Yanfolila Camp 5.6Mozeq discovery discovery 1.0Moz inferred resource announced Supporting regional growth target of 1Mozpa 14 FNB Showcase October 2010
South America Region Chucapaca Joint Venture - Peru p J i t V Joint Venture t 51% Gold Fields Chucapaca 49% Buenaventura 196 163 MINING CONCESSIONS Canteras del Hallazgo – 12,700Ha Gold Fields - 94,100Ha Buenaventura – 18,400Ha Aruntani SYMBOLOGY S O OG Main Road Back Road Dirt Road ! Growing Gold Fields in South America 15 FNB Showcase October 2010
South America Region Chucapaca Joint Venture - Peru p • Discovery hole drilled September Canahuire Canahuire 2008 2008 • Canahuire drilling: 22,290m • Amenable to open pit mining Cerro Chucapaca • Positive metallurgical recoveries 112 • Initial drilling in progress on other Katrina targets • Drilling re-started on Canahuire 20 Katrina South • Pre-feasibility Q3 2011 y 20 GF BVN Canahuire inferred resource 5.6Mozeq 16 FNB Showcase October 2010
South America Region Cerro Corona Mine - Peru Oxide stockpile treatment • ~300k eq oz • Engineering of plant in progress • Construction early 2011 Construction early 2011 Resource conversion project • Resources 8.1m eq oz • Tailings constraint alternatives Expansion and life extension opportunities 17 FNB Showcase October 2010
Australasia Region St Ives Gold Mine - Argo-Athena Camp g p Hamlet Argo Athena 1 moz Resource 771 koz Resource 1 moz Produced Construction Q1 2011 C t ti Q1 2011 889 koz Resource Under Construction Yorrick Yorrick Yorrick Yorrick Defined Endowment +3.5 moz – With Significant Potential 18 FNB Showcase October 2010
Australasia Region Far South East Project - Philippines j pp • Located in Northern Luzon • 250km north of Manila • Established infrastructure • Established and supportive workforce • Existing mineral tenure g World class potential 19 FNB Showcase October 2010
Australasia Region Far South East Project - Philippines j pp • 18-month option 18 month option Southwest Northeast • $10m option fee 750 m • Conduct drill program & feasibility • Conduct drill program & feasibility studies • $44m down-payment payable • Further $66m after 12 months • Final payment of $220m prior to expiry Final payment of $220m prior to expiry of option period 900 m AuEq g/t 691m @ 2.5 g/t Au and 0.9% Cu 907m @ 1.5 g/t Au and 0.5% Cu 953 953m @ 1.3 g/t Au and 0.6% Cu @ 1 3 /t A d 0 6% C 900 m 20 FNB Showcase October 2010
West Africa Region Yanfolila Project in Mali j 196 163 163 163 112 112 Essakane YANFOLILA PROJECT 20 20 Sadiola Sadiola Loulo 20 Morila Siguiri Syama Syama An emerging camp in elephant country 21 FNB Showcase October 2010
West Africa Region Yanfolila Project - Mali j Komana East KW Komana West Gonka Targeting 2moz Resource in 30km radius of Komana in 3yrs 22 FNB Showcase October 2010
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