This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gold Fields Limited: KDC West Embarks On An Unlawful And Unprotected Strike

JOHANNESBURG, September 10, 2012 /PRNewswire/ --

Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) regrets to announce that employees of the West Section of the KDC Gold Mine (KDC West, formerly Driefontein) on the West Rand in South Africa have been engaging in an unlawful and unprotected strike since the start of the night shift last night, Sunday, 9 September 2012. The strike continued into the morning shift today.

Approximately 15,000 employees are participating in the strike and all production at KDC West has been suspended as a result.

The senior leadership of Gold Fields' South Africa Region and KDC are on the mine engaging with the striking employees, the various Unions and other structures, with a view to finding a speedy and peaceful resolution to the unlawful strike.

Peter Turner, Executive Vice President and Head of Gold Fields' South Africa Region, said: "At this stage the reason for the strike remains unclear but we hope to gain clarity as soon as possible. The situation on the mine has been calm and peaceful since the start of the strike and we appeal to all stakeholders to continue to act with restraint and to engage in good faith. It is important that we restore normality in a peaceful manner and as soon as possible."

The company will today apply for an urgent interdict to bring the unlawful and unprotected strike to an end.

Notes to editors

About Gold Fields

Gold Fields is one of the world's largest unhedged producers of gold with attributable annualised production of 3.5 million gold equivalent ounces from eight operating mines in Australia, Ghana, Peru and South Africa. Gold Fields also has an extensive and diverse global growth pipeline with four major projects in resource development and feasibility, with construction decisions expected in the next 18 to 24 months.  Gold Fields has total attributable gold equivalent Mineral Reserves of 80.6 million ounces and Mineral Resources of 217 million ounces. Gold Fields is listed on the JSE Limited (primary listing), the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX).

Sponsor: J.P. Morgan Equities Limited

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs