Gold Fields Limited - KDC East Strike Resolved
JOHANNESBURG, Sept. 5, 2012 /CNW/ - Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce that the unlawful strike by 12,000 employees at the KDC East mine on the West Rand in South Africa has been resolved and that striking employees have agreed to return to work with the commencement of the night shift tonight.
The strike was resolved after the national leadership of the National Union of Mineworkers (NUM) met with NUM members on the mine to resolve the differences between them and office bearers of the local NUM branch.
Nick Holland, Chief Executive Officer of Gold Fields, said: "We commend the national leadership of the NUM, in particular President Senzeni Zokwana and General Secretary Frans Baleni, for their bold leadership in resolving the strike. While we cannot condone the unlawful nature of the strike, and will implement the 'no work, no pay and no dismissal' principle, we are pleased with the peaceful manner in which our employees conducted the strike."
The strike commenced on Wednesday, 29 August 2012, when the night shift did not turn out for work.
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
SOURCE Gold Fields Limited