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An exploration-led growth pipeline

 

An exploration-led growth pipeline

Overview

Gold Fields is focused on creating high-quality growth opportunities through an aggressive greenfields exploration programme. A maturing and continually growing pipeline has seen spending on greenfields exploration rise in the last three years from US$45 million in F2008 to an estimated US$100 million in C2011. Similarly, spending on near-mine exploration has also been ramped-up from US$52 million in F2008 to US$71 million in F2010.

Over C2011, we have set aside approximately US$150 million for further exploration, which reflects our ongoing commitment to exploration-led growth.

Our efforts in this respect are spearheaded by four resource development and feasibility projects. All four are expected to reach construction decisions within the next 18 to 24 months.

Gold Fields pipeline is also continually diversifying. As we move towards our 2015 target of 5 million ounces, we aim to achieve a 40:60 split in production between the South Africa Region and our three international regions. Our global exploration activity is already supporting this diversification strategy by identifying world class opportunities from Finland through to the Philippines.


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