GOLD FIELDS LIMITED - Gold Fields and AngloGold Ashanti provide an update on the proposed joint venture

Gold Fields and AngloGold Ashanti provide an update on the proposed joint venture

Gold Fields Limited
Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
JSE, NYSE, DIFX Share Code: GFI
ISIN: ZAE000018123
("Gold Fields")

GOLD FIELDS AND ANGLOGOLD ASHANTI PROVIDE AN UPDATE ON THE PROPOSED
JOINT VENTURE BETWEEN GOLD FIELDS' TARKWA MINE AND ANGLOGOLD
ASHANTI'S IDUAPRIEM MINE IN GHANA

Gold Fields and AngloGold Ashanti (the "Parties") refer
shareholders to their joint media release of 16 March 2023 in which
the Parties announced that they had agreed key terms for a proposed
joint venture between Gold Fields' Tarkwa Mine and AngloGold
Ashanti's Iduapriem Mine in Ghana (the "Proposed Joint Venture").
Shareholders are also referred to subsequent updates provided by
both companies on the Proposed Joint venture progress in their
respective financial results publications since.

Notwithstanding constructive engagement with the Government of
Ghana since the announcement of the Proposed Joint Venture on 16
March 2023, the requisite approvals by the Government of Ghana for
the Proposed Joint Venture have not yet been obtained.

Gold Fields and AngloGold Ashanti have sought to secure the
requisite approvals, which include approval of the Proposed Joint
Venture by the Parliament of Ghana, ahead of the October 2024
Parliamentary recess before the Ghana national elections to be held
in December 2024.

The Parties continue to believe that a combination of the two
neighbouring mines into a single managed entity is compelling,
given that it is anticipated to extend life of mine, increase
production and lower costs, creating value for all stakeholders.

In the absence of the requisite approvals from the Government of
Ghana and clear timelines for execution of an agreement, Gold
Fields and AngloGold Ashanti will maintain engagement in relation
to a potential asset combination while separately continuing to
pursue improvements to their respective assets.

The Parties will keep shareholders appraised of any significant
developments pertaining to the Proposed Joint Venture.

ENDS

7 November 2024
Gold Fields Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

AngloGold Ashanti JSE Sponsor: The Standard Bank of South Africa
Limited

For Gold Fields investor enquiries contact:
Jongisa Magagula
Tel: +27 11 562 9775
Mobile: +27 67 419 9503
Email: Jongisa.Magagula@goldfields.com

Thomas Mengel
Tel: +27 11 562 9849
Mobile: +27 72 493 5170
Email: Thomas.Mengel@goldfields.com

For AngloGold Ashanti investor enquiries contact:
Andrea Maxey
Tel: +61 08 9435 4603
Mobile: +61 400 072 199
Email: amaxey@anglogoldashanti.com

Yatish Chowthee
Tel: +27 11 637 6273
Mobile: +27 78 364 2080
Email: yrchowthee@anglogoldashanti.com

For Gold Fields media enquiries contact:
Sven Lunsche
Tel: +27 11 562 9763
Mobile: +27 83 260 9279
Email: Sven.Lunsche@goldfields.com

For AngloGold Ashanti media enquiries contact:
Andrea Maxey
Tel: +61 08 9435 4603
Mobile: +61 400 072 199
Email: amaxey@anglogoldashanti.com

About Gold Fields
Gold Fields is a globally diversified gold producer with nine
operating mines in Australia, South Africa, Ghana, Chile and Peru
and one project in Canada. Gold Fields has total attributable
annual gold-equivalent production of 2.30 Moz, proved and probable
gold Mineral Reserves of 46.1 Moz, measured and indicated gold
Mineral Resources of 31.1 Moz (excluding Mineral Reserves) and
inferred gold Mineral Resources of 11.2Moz (excluding Mineral
Reserves). Gold Fields' shares are listed on the Johannesburg Stock
Exchange (JSE) and its American depositary shares trade on the New
York Exchange (NYSE).

About Tarkwa Mine
Tarkwa is 90%-owned by Gold Fields, with the Government of Ghana
holding the remaining 10%. As at 31 December 2023, Tarkwa had
proved and probable gold Mineral Reserves of 4.35 Moz and measured,
indicated and inferred gold Mineral Resources of 3.40 Moz. For more
information on Tarkwa Mine, please visit
https://www.goldfields.com/west-africa-region.php .


About AngloGold Ashanti plc
AngloGold Ashanti is an independent, global gold mining company
with a diverse, high-quality portfolio of operations, projects and
exploration activities across nine countries on four continents.
AngloGold Ashanti produced 2.69 Moz of gold in 2023(1) and as at 31
December 2023, had gold Proven and Probable Mineral Reserve of
28.07Moz, gold Measured and Indicated Mineral Resource of 59.91
Moz(exclusive of Mineral Reserve)and gold Inferred Mineral Resource
of 46.42 Moz (exclusive of Mineral Reserve). AngloGold Ashanti is
listed on the New York Stock Exchange (NYSE), the Johannesburg
Stock Exchange (JSE), the A2X Market (A2X) and the Ghana Stock
Exchange (GSE).
(1) - Gold production from managed operations is reported on a consolidated basis. Gold production from
non-managed joint ventures is reported on an attributable basis. Gold production for the financial year
ended 31 December 2023 has been adjusted to exclude the Córrego do Sítio ("CdS") operation that was
placed on care and maintenance in August 2023. Gold production includes gold concentrate from the Cuiabá
mine sold to third parties.


About Iduapriem Mine
Iduapriem Mine is wholly-owned by AngloGold Ashanti. As at 31
December 2023, Iduapriem had gold Proven and Probable Mineral
Reserve of 2.06Moz, gold Measured and Indicated Mineral Resource
of 2.49 Moz (exclusive of Mineral Reserve) and gold Inferred
Mineral Resource of 1.14 Moz (exclusive of Mineral Reserve). For
more    information    on    Iduapriem    Mine,    please   visit
https://www.anglogoldashanti.com/portfolio/africa/iduapriem/ .


Forward-looking statements

Gold Fields Limited

This announcement contains forward-looking statements. All
statements other than statements of historical fact included in
this announcement may be forward-looking statements. Forward-
looking statements may be identified by the use of words such as
"aim", "anticipate", "will", "would", "expect", "may", "could",
"believe", "target", "estimate", "project" and words of similar
meaning.
These forward-looking statements, including among others, those
relating to the Proposed Joint Venture (including the expected
terms, timing and satisfaction of conditions), Gold Fields' future
business strategy, development activities and other initiatives,
business   prospects,    financial   positions,    production   and
operational guidance are necessary estimates reflecting the best
judgement of the senior management of Gold Fields and involve a
number of risks and uncertainties that could cause actual results
to differ materially from those suggested by the forward-looking
statements. By their nature, forward-looking statements involve
risk and uncertainty because they relate to future events and
circumstances and should be considered in light of various
important factors, including those set forth in Gold Fields'
Integrated Annual Report 2023 filed with the Johannesburg Stock
Exchange and annual report on Form 20-F filed with the United
States Securities and Exchange Commission (SEC) on 28 March 2024
(SEC File no. 001-31318). Readers are cautioned not to place undue
reliance on such statements. These forward-looking statements speak
only as of the date they are made. Gold Fields 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 announcement or to reflect the occurrence of
unanticipated events. These forward-looking statements have not
been reviewed or reported on by Gold Fields' external auditors.

AngloGold Ashanti plc

Certain statements contained in this document, other than
statements of historical fact, including, without limitation, those
concerning the economic outlook for the gold mining industry,
expectations regarding gold prices, production, total cash costs,
all-in sustaining costs, all-in costs, cost savings and other
operating results, return on equity, productivity improvements,
growth prospects and outlook of AngloGold Ashanti's operations,
individually or in the aggregate, including the achievement of
project milestones, commencement and completion of commercial
operations of certain of AngloGold Ashanti's exploration and
production   projects   and   the   completion   of   acquisitions,
dispositions or joint venture transactions, AngloGold Ashanti's
liquidity and capital resources and capital expenditures, the
consequences of the COVID-19 pandemic and the outcome and
consequences of any potential or pending litigation or regulatory
proceedings or environmental, health and safety issues, are
forward-looking statements regarding AngloGold Ashanti's financial
reports, operations, economic performance and financial condition.
These forward-looking statements or forecasts are not based on
historical facts, but rather reflect our current beliefs and
expectations concerning future events and generally may be
identified by the use of forward-looking words, phrases and
expressions such as "believe", "expect", "aim", "anticipate",
"intend", "foresee", "forecast", "predict", "project", "estimate",
"likely", "may", "might", "could", "should", "would", "seek",
"plan",   "scheduled",    "possible",   "continue",    "potential",
"outlook", "target" or other similar words, phrases, and
expressions; provided that the absence thereof does not mean that
a statement is not forward-looking. Similarly, statements that
describe our objectives, plans or goals are or may be forward-
looking statements. These forward-looking statements or forecasts
involve known and unknown risks, uncertainties and other factors
that may cause AngloGold Ashanti's actual results, performance,
actions or achievements to differ materially from the anticipated
results, performance, actions or achievements expressed or implied
in these forward-looking statements. Although AngloGold Ashanti
believes that the expectations reflected in such forward-looking
statements and forecasts are reasonable, no assurance can be given
that such expectations will prove to have been correct.
Accordingly, results, performance, actions or achievements could
differ materially from those set out in the forward-looking
statements as a result of, among other factors, changes in
economic, social, political and market conditions, including
related to inflation or international conflicts, the success of
business and operating initiatives, changes in the regulatory
environment and other government actions, including environmental
approvals, fluctuations in gold prices and exchange rates, the
outcome of pending or future litigation proceedings, any supply
chain disruptions, any public health crises, pandemics or epidemics
(including the COVID-19 pandemic), the failure to maintain
effective internal control over financial reporting or effective
disclosure controls and procedures, the inability to remediate one
or more material weaknesses, or the discovery of additional
material weaknesses, in AngloGold Ashanti's internal control over
financial reporting, and other business and operational risks and
challenges and other factors, including mining accidents. For a
discussion of such risk factors, refer to AngloGold Ashanti's
annual report on Form 20-F for the year ended 31 December 2023
filed with the United States Securities and Exchange Commission
(SEC). These factors are not necessarily all of the important
factors that could cause AngloGold Ashanti's actual results,
performance, actions or achievements to differ materially from
those expressed in any forward-looking statements. Other unknown
or unpredictable factors could also have material adverse effects
on AngloGold Ashanti's future results, performance, actions or
achievements. Consequently, readers are cautioned not to place
undue reliance on forward-looking statements. AngloGold Ashanti
undertakes no obligation to update publicly or release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence
of unanticipated events, except to the extent required by
applicable law. All subsequent written or oral forward-looking
statements attributable to AngloGold Ashanti or any person acting
on its behalf are qualified by the cautionary statements herein.

Date: 07-11-2024 01:00:00
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