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South America Region Cerro Corona

Investor Visit Cajamarca, Peru


Day 2 | 15 November 2011

Forward Looking Statements


Certain statements in this document constitute forward looking statements within the meaning of Section 27A of the US
Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934.

Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause
the actual results, performance or achievements of the company to be materially different from the future results, performance
or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important
factors include among others: economic, business and political conditions in South Africa, Ghana, Australia, Peru and
elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions,

exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with
underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in
government regulations, particularly environmental regulations; and new legislation affecting mining and mineral rights;
changes in exchange rates; currency devaluations; inflation and other macro-economic factors, industrial action, temporary
stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS crisis in South Africa. These
forward looking statements speak only as of the date of this document.

The company 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 document or to reflect the occurrence of unanticipated events.

Safety First

Cerro Corona: Project Location

Cerro Corona: Project Location


Location Map

The Cerro Corona orebody is a coppergold porphyry

Cerro Corrona mining operation is


located 1.5km west-northwest of the
village of Hualgayoc

600km north-northwest of Lima and 80km


by paved road from Cajamarca

400
250km
Km

Salaverry
SalaverryPort
Port

Concentrates are transported 400km to


the Salaverry Port

TRC
TRCConcentrate
Concentrate
Warehouse
warehouse

Key Milestones
Delivered a world-class project in record time

31 August

January

Project acquisition
completed

Jan - 06

End Transition
from Construction
to Operation

Jul - 08 Aug - 08

Start-up:

 First rock to plant

Sep - 08

Ramp up
completed

Dec - 08

30 September 2008

26 July 2008

December

First shipment

Certifications

ISO

Dec 2009

OHSAS

Jun 2010

Integrated System

Aug 2011

2009

2010

2011

2009, 2010,2011

Perus safest open


pit operation

Cerro Corona Operation Layout

Lif of Mine Reserves (December 2010)


Tons (Mt)

Gold Grade (g/t) Copper Grade (%)

Gold (koz)

Copper (Mlb)

Proved

42.2

1.04

0.56

1,405

520

Probable

44.1

0.89

0.46

1,267

444

TOTAL

86.3

0.96

0.51

2,672

965

Process Flow Sheet

OPEN
PIT

CONCENTRATE
400 t/d (21% Cu, 1oz/t Au)

CRUSHING

GRINDING

FLOTATION

TONNAGE
20K t/d (0.5% Cu, 1g/t Au)

Tails
TAILING DAM

Utilities
Power

220 MW Power line from Cajamarca Norte to Cerro Corona sub-stations.


Cerro Corona consumption: 20 MW

Water

Water for process: Recycling from TMF.


Water-balance: Rainfall & Diversion channels

Permitting Approved in 2010/2011


EIS permitting: 4th Modification.
Closure plan: 2nd Modification.
Salaverry Port EIS amendment.

18

Dec-10

1508

12
13
1397

12

Mar-11

Jun-11

1629

1180
808

1003
565

Sep-11

1412
993
1081

Sep-11

Hazards Reported

Jun-11

Jun-11

Mar-11

Dec-10

Sep-10

Jun-10

Mar-10

Dec-09

Sep-09

Jun-09

Mar-11

23
1

Dec-10

Dec-10

Sep-10

Minor Injuries

Jun-10

0
3

Mar-10

Dec-09

Sep-10

Sep-09

Jun-10

Lost Time Injuries

Jun-09

Sep-11

Mar-10

Sep-11

15

Jun-11

Mar-11

Sep-10

15

Jun-10

16

Mar-10

18
0

Dec-09

Sep-09

Jun-09
0

Dec-09

Sep-09

Jun-09

Safety Statistics
If we cannot mine safely, we will not mine
Medically Treated Injuries

3
2
1
0
1

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KPI - Throughput
Throughput (tph)
800

800
775

777

775

2010

2011 YTD

750
729

700

650

615

600

2008

2009
Actual (tph)

Design (tph)

________________________
Note: 2011 YTD for the 10 months ending October 2011

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KPI Plant Availability


Plant Availability (%)
100
98
95.42

96

95.17

94
91.32

91.09

92

91.32

90

88
86
84
82
80.81

80
2008

2009

2010

Actual (%)

2011 YTD

Design (%)

________________________
Note: 2011 YTD for the 10 months ending October 2011

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KPI Gold Head Grade


Au Head Grade (g/t)
1.24

1.25
1.22

1.20

1.20
1.20
1.16

1.15

1.10
1.08

1.05

1.00

1.01

1.01

2010

2011 YTD

0.95

2008

2009
Actual (g/t)

Base Case (g/t)

(*)

________________________
Note: 2011 YTD for the 10 months ending October 2011

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KPI Copper Head Grade


Cu Head Grade (%)
0.90

0.85
0.84

0.80
0.75

0.80

0.75
0.74

0.74

0.70
0.65

0.65

0.63

0.60
0.54

0.55

0.50
2008

2009
Actual (%)

2010

2011 YTD

Base Case (%)

________________________
Note: 2011 YTD for the 10 months ending October 2011

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KPI Gold Recovery


Au Recovery (%)
70
68
66
65.2

64
64.4
63.7

62
60
58
56
54
54.0

52
50
2008

2009

2010

2011 YTD

Actual (%)

________________________
Note: 2011 YTD for the 10 months ending October 2011

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KPI Copper Recovery


Cu Recovery (%)
88

83
82.9

82.7

80.2

78

73

68

63

60.9

58
2008

2009

2010

2011 YTD

Actual (%)

________________________
Note: 2011 YTD for the 10 months ending October 2011

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KPI Gold Production


Au produced (oz)

150 000
132,420
127,278

130 000
119,563

118,648

115,618

110 000

115,030

90 000

70 000
65,635

50 000

32,937

30 000

2008 (Aug-Dec)

2009 (Jan-Oct)
Actual (oz)

2010 (Jan-Oct)

2011 (Jan-Oct)

Base Case (oz)

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KPI Copper Production


Cu produced (t)

40 000
35,132

35 000
32,206
30,079

30 000

26,791

25 000

25,954
22,867

20 000

15 000

15,465

10 000
7,007

5 000

2008 (Aug-Dec)

2009 (Jan-Oct)
Actual (t)

2010 (Jan-Oct)

2011 (Jan-Oct)

Base Case (t)

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KPI Gold Equivalent Production


Equivalent Ounces Produced (oz)

360 000

341,982
312,395

310 000
274,607

260 000

268,415
250,922
238,377

210 000

160 000

152,768

110 000

73,977

60 000

2008 (Aug-Dec)

2009 (Jan-Oct)

2010 (Jan-Oct)

2011 (Jan-Oct)

Actual (eq oz)

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KPI Operating Expenditure


Operating expenditure (2008 2011)
156

160

158

550
500

514

140

470

123

120

450
400

406
388

350

100

300
80
250
60

200
150

38

40

100
20
26.0

25.6

24.7

2009

2010

2011 YTD

50

23.2

0
2008
Operating Costs (US$m | LHS))

Operation Cost/Eq ounce (US$/oz | RHS)

Operating cost/tonne milled (US$/t | RHS)

________________________
Note: 2011 YTD for the 9 months ending September 2011

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KPI Captital Expenditure


Capital expenditure (2008 2011)
3600

300
3292

3200
250

244

2800
2400

200

2000
150
1600
100

1200

85
70
49

50
257

172

162

2010

2011 YTD

800
400

0
2008

2009
Capex (US$m | LHS)

Capex/Eq ounce (US$/oz | RHS)

________________________
Note: 2011 YTD for the 9 months ending September 2011

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KPI NCE & NCE margin | Total Cash Cost & Operating margin
Key financial metrics
1800

80
72

71

1600

1560

70
62

1400

60

61

1200

56

50
1000

43

40

35

800
626

30

600

557

532

426

380

400

363

361

20

10

200

0
2008
NCE (US$m | LHS)

2009
Total Cash Cost (US$m | LHS)

2010
Operating Margin (% | RHS)

2011 YTD
NCE Margin (% | RHS)

________________________
Note: 2011 YTD for the 9 months ending September 2011

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Optimization Projects
Cerro Corona optimization projects underway
Optimization program launched Q4 2010
Actual results show a 2%-3% increase in recoveries

Metallurgical task team in place

Recovery and Grades

Main projects implemented

100

Improve reagent dosing and addition

95

RST&CST characterization

90

Expert control system rougher flotation

85

Gravimetric concentration
Expert control system cleaning flotation
Automatic reagent dosing
Pebble crusher

Recovery %

Improve mechanical slurry conditioning

1.55

1.35

80
1.15
75
70

Grade

Main projects underway

1.75

0.95

65
0.75
60
55

0.55
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Au Recovery

Cu Recovery

Au Grade

Cu Grade

Phase II Mine to Mill

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Cerro Corona: Production Plan (2011-2024)


Ore

Life of Mine

Tonnes (millions)

86.3

Au grade (g/t)

0.96

Cu grade (%)

0.51

Au recovery (%)

73.2

Cu recovery (%)

87.9

Concentrate

Life of Mine

Tonnes (000)

1,672

Au grade (g/t)

36

Cu grade (%)

23

Au ounces (000oz)
Cu tonnes (000t)
Au-eq ounces1(000)

1,876
369

4,197

____________________________
1. Au Price US$1,400/oz; Cu Price US$8,600/t

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Social Development
Social Development
Role: catalysts of development

Infrastructure

Local
Employment
&
Training

Sustainable
Development
Projects

BUILDING RELATIONSHIPS OF TRUST


9
9
9
9
9
9
9

Roads
Electrification
Communications
Health and Safety
Potable Water
Education
Port infrastructure

9 Direct / indirect employment


9 Community contractors
9 Training programs

9
9
9
9
9
9
9

Self-sustaining
Economic circles
Dairy production
Blueberries
Pork and guinea pig farms
Services
Forestation

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Sustainable Development
Improved
pastures
Improved
pastures

Improved cattle

Potatoes

Colza (bio-diesel)

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Cerro Corona: 5 Year Plan


Strategic Objectives

To be the best
place to work
in the
industry

Consolidate
operational
efficiency

Gold Fields
best
operation in
2015

Increase
reserves to
127Mt from
86Mt

To be the
leader in
sustainable
gold mining

Target
production of
500koz Au-Eq

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Key Strategic Initiatives


Description

Optimise Our Operations

Grow Gold Fields

Secure our Future

Timeline

Process Plant
Optimization

Implement Optimization
Projects to increase
recoveries & throughput

Q2 2012

Sulphide plant
Expansion

Analyze feasibility of sulphide


plant expansion

Q4 2012

Leach Pad for


Oxides

Complete feasibility study for


leach pad alternative

Q4 2012

Consolidate Social
stability

Secure social stability for the


sustainability of operations

On going

Convert resources
to reserves

Achieve potential reserve


increase of ~40Mt

Q1 2013

Talent / People

Develop and retain key talent

On going

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Questions?