Key Developments: Gold Fields Ltd (GFI)
5.81USD
17 May 2013
$-0.32 (-5.22%)
$6.13
$5.95
$6.00
$5.80
5,159,838
5,913,712
$14.04
$5.80
Latest Key Developments (Source: Significant Developments)
Gold Fields Ltd Responds To Illegal Strikes At Ghanaian Operations
Gold Fields Ltd announced that employees at Tarkwa and Damang mines in Ghana, in which it has a 90% interest, have, at approximately 11.00 am (Ghana time), embarked on illegal industrial action which has led to production at both mines being stopped. This follows after the Ghana Mineworkers Union (GMU) and affiliates, the Professional Managerial Staff Union and the Branch Union, on April 2, 2013, presented management at both mines with a number of demands, and threatened industrial action should the Company not respond favourably to the demands within 24 hours. Gold Fields is analyzing and investigating the demands as a matter of urgency. The Company holds the view that the industrial action is illegal and unprotected. This could expose participating workers to the no-work, no-pay rule as well as possible dismissal. Full Article
Gold Fields Ltd Announces Final Dividend
Gold Fields Ltd announces a final dividend of ZAR0.75 per share (gross) is payable on March 11, 2013, giving a total dividend for the year ended December 2012 of ZAR2.35 per share (gross). Full Article
Gold Fields Ltd Announces Resignation of Chair and Appointment of New Chair
Gold Fields Ltd announced that the Chair of the Company, Dr. Mamphela Ramphele, has announced her resignation from the Company’s Board of Directors with immediate effect. Dr. Ramphele has decided to retire as Chair to further her socio-economic and political work. Gold Fields Ltd Non-Executive Director, Ms. Cheryl Carolus, will succeed Dr. Ramphele as Chair of the Company with immediate effect. Full Article
Gold Fields Ltd Announces Spin-Off of Sibanye Gold
Gold Fields Ltd announced that Sibanye Gold, the Company's wholly owned subsidiary, is expected to be listed on the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE) on February 11, 2013, following which, on February 18, 2013, Gold Fields Ltd will unbundle its interest in Sibanye Gold to Shareholders. Each Shareholder will receive one Sibanye Gold share for each Gold Fields Ltd share, or one Sibanye Gold American Depository Receipt (ADR) for every four Gold Fields shares, held on the applicable record date of the Transaction. Full Article
Gold Fields Ltd Issues Q4 2012 Production Guidance
Gold Fields Ltd announced that for the fourth quarter of 2012, it expects the attributable group production to be 753,000 gold equivalent ounces compared to 811,000 ounces in the September quarter (Q3 2012) and 883,000 ounces in the corresponding 2011 quarter (Q4 2011). Full Article
Gold Fields Ltd's KDC East Mine Resumes Production
Gold Fields Ltd announced that employees this morning returned to work at its KDC East Mine (formerly Kloof) to resume production after a 23 day strike. All three of Gold Fields’ operating mines in South Africa are now back in production. The mine had dismissed 8,100 employees on October 23 for participation in the unlawful strike over the preceding nine days. However, after a deal with the National Union of Mineworkers, the vast majority of them were reinstated to their previous positions. All employees are also eligible for benefits under the Chamber of Mines Settlement Agreement concluded on October 25, 2012. Full Article
Gold Fields Ltd Updates On Strike At Beatrix Gold Mine
Gold Fields Ltd announced a full turnout at Beatrix 4 Shaft where the 2,800 striking workers this morning reported for work. This follows the return to work on October 17, 2012, morning of all 6,200 employees at the 1, 2, 3 Shafts. Gold Fields on October 15, 2012, issued a final ultimatum to striking employees at KDC West and Beatrix, to present themselves for work by no later than 14h00, on October 18, 2012, or face immediate dismissal. Full Article
Gold Fields Ltd Announces End Of Strike At Beatrix 1, 2 And 3 Sharts
Gold Fields Ltd announced that there has been a full turn-out of the 6,200 employees at the number one, two and three shafts at the Beatrix Gold Mine in the Free State. This follows after striking workers, who have been on an unprotected strike since September 24, 2012, started returning to work from October 16, 2012. Approximately 2,800 employees at the Beatrix four Shaft (formerly Oryx Gold Mine), 11,000 at KDC West, and 8,500 ay KDC East, remain on an unprotected strike. Gold Fields issued a final ultimatum to all striking workers at KDC West and Beatrix four shaft to present themselves for work by no later than 14h00, October 18, 2012, or face immediate dismissal. Full Article
Gold Fields Ltd's 8,500 KDC East Employees Join Unlawful Strike
Gold Fields Ltd announced that approximately 8,500 of the 12,400 employees at KDC East operation (formerly Kloof Gold Mine) have started an unlawful strike, commencing with the night shift last night, October 14, 2012. The total number of employees now engaged in the unlawful strike at KDC East and KDC West is approximately 19,500 out of a total workforce of approximately 26,700. Production at the entire KDC has now been suspended. Full Article
Gold Fields Ltd And NUM Reach Agreement On South Deep Operating Model
Gold Fields Ltd announced that it has reached a formal agreement with the National Union of Mineworkers (NUM) to implement a new operating model at its developing South Deep Gold Mine (South Deep) near Johannesburg in South Africa. The new South Deep operating model will not only secure current jobs but allow the mine to create an additional 400 full-time positions at the mine. It should improve productivity and performance in order for the mine to approach international practice. Full Article
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