Directors: C A Carolus (Chair), N J Holland
†
** (Chief Executive Officer), P A Schmidt** (Chief Financial Officer), A Andani
#
, P J Bacchus
†
,
T P Goodlace, C E Letton^, R P Menell, D M J Ncube, S P Reid^, Y G H Suleman
^Australian,
†
British,
#
Ghanaian, ** Executive Director
Company Secretary: MML Mokoka
Gold Fields Limited
Reg. 1968/004880/06
150 Helen Road,
Sandown, Sandton,
2196
Postnet Suite 252
Private Bag X30500
Houghton, 2041
South Africa
Tel +27 11 562 9700
Fax +27 11 562 9838
www.goldfields.com
Investor Enquiries
Avishkar Nagaser
Tel
+27 11 562 9775
Mobile +27 82 312 8692
email
Avishkar.Nagaser@
goldfields.com
Thomas Mengel
Tel
+27 11 562 9849
Mobile +27 72 493 5170
email
Thomas.Mengel@
goldfields.com
Media Enquiries
Sven Lunsche
Tel
+27 11 562 9763
Mobile +27 83 260 9279
email
Sven.Lunsche@
goldfields.com
M E D I A R E L E A S E
Gold Fields hedges oil and Australian gold prices
Johannesburg, 20 June 2017: Gold Fields Limited (Gold Fields)
(JSE, NYSE: GFI) has undertaken select hedging of the oil price and
the Australian dollar gold price given recent volatility in commodity
prices and exchange rates.
The oil hedge comprises:
- Australia: 78m litres at an equivalent Brent Crude swap price of
US$49.92/bbl for the period June 2017 to December 2019
- Ghana: 126m litres at an equivalent Brent Crude swap price of
US$49.80/bbl for the period June 2017 to December 2019
The volumes hedged represent 50% of the annualised fuel
consumption for the two regions.
The Australian dollar gold price hedge comprises:
- 165,000oz with a floor price of A$1,695.86 and a cap of
A$1,754.18 (averaged), for the period July 2017 to December
2017
- 130,000oz at an average forward price of A$1,719.92, for the
period July 2017 to December 2017
The gold volumes hedged represent approximately 75% of the
expected production from the Australia region for the second half of
2017.
This hedging activity is in line with Gold Fields’ policy to protect cash
flow at a time of significant expenditure. The Australian dollar gold
price hedge will protect the underlying cash flow of Gold Fields
Australia, while it is funding the construction of the Gruyere gold
project.
Enquiries
Investors
Avishkar Nagaser
Tel: +27 11 562-9775
Mobile: +27 82 312 8692
Email :
Avishkar.Nagaser@goldfields.com
Thomas Mengel
Tel: +27 11 562 9849
Mobile: +27 72 493 5170