Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited covers the month of November 2007, specifically dated November 29, 2007. The report addresses operational status updates regarding the Driefontein Gold Mine and the Kloof mine in South Africa following regulatory interventions by the Department of Minerals and Energy (DME).
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This document is a media release focused on operational resumption rather than a financial statement.
Material Changes and Operational Status
- Driefontein Gold Mine: A Section 54 order by the DME, which halted all tramming operations, has been lifted following a meeting with the Principal Inspector. Normal mining operations are scheduled to resume with the morning shift on Friday, November 30, 2007.
- Kloof Mine: A risk assessment and safety audit under a DME Section 54 order regarding pillar mining is ongoing. Approximately 50% of the pillars have been audited.
- Production Impact: Only 7% of the Kloof mine's output remains affected by the audit. Full operational status at Kloof is expected within 24 hours of the report date.
Management Commentary and Risks
Terence Goodlace, Executive Vice President and Head of Gold Fields South African operations, stated that every effort will be made to recover lost production at Driefontein. Management reiterated that safety remains the number one priority and emphasized a commitment to ensuring no harm comes to employees. The primary risk identified is the temporary disruption of production due to regulatory safety audits and orders.
Investor Verification Checklist
- Confirm the actual resumption of tramming and production at Driefontein on November 30, 2007.
- Monitor the completion timeline of the pillar mining audit at Kloof to ensure the 24-hour full operational target is met.
- Assess the volume of production lost during the Driefontein halt and the feasibility of the company's plan to make up this output.
- Review subsequent filings for any financial impact quantification regarding the production delays.