South Africa RegionSouth Africa Region

Overview

Gold Production and NCE Margin (2008 – 2011)koz %

162 500

Durban

Bloemfontein

JohannesburgSouth Deep

KDC Pretoria

Beatrix

2 066 2 0958101214

1 000

1 500

2 000

Cape Town

Durban 2,066 2,095 1,866

0246

0

500

1 000

2008 2009 2010 2011E

NCE Margin9 months to Sept (%)

Mineral Reserves & Resources31 Dec 2010 (Moz)

EBITDA1 (Group Contribution)9 months to Sept 2011 (%)

2008 2009 2010 2011ENCE MarginProduction

18%

Incl South Deep Excl South Deep

169.3

-2%

10%7%

18%60.2

Reserves Resources

Sept 2010 Sept 2011

98

______________________________________1. Attributable EBITDA

Multi-shaft underground complexes

KDC Beatrix South Deep

Formed in 2010 from Driefontein Shallower, safer, steadier 34.5Moz reserve and >50 years of

(West) and Kloof (East) life

Large, challenging, complex and

deep ore body

Well capitalised, consistent

performer

Safer, mechanised mining

Produced 175Moz in the last 60

years and still has ~20Moz reserves

remaining

5.4Moz reserve (~15 year mine life) Mine design that has cracked the

deep level bulk mining code

g

Established infrastructure Important contributor to the South

Africa region

Potential to get to mechanised

production of 750kozpa

99

Since 2007 significant progress on safety but 2011 has levelled off

Fatalities1 Serious Injuries1

# fatalities # serious injuries

35

40

800

900

1000# fatalities # serious injuries

25

30

600

700

800

15

20

300

400

500

5

10

100

200

300

0

2005

2006

2007

2008

2009

2010

2011

YTD

0

2005

2006

2007

2008

2009

2010

011Y

TD

2 2

100

______________________________________1. Calendar years 2005 - 2010

Redoubling efforts to achieve zero harm...

• Compliance

• Engineer out risk

• Aligned stakeholders• Health & wellness

o ha

rm

• Culture: Hearts & minds

oal:

Zero

G

101

...through numerous initiatives

Aligned Culture: Hearts Health & Engineer out Compliancegstakeholdersand Minds wellness

grisk Compliance

Increased frequency of

Underground transport safety

Leadership communication

Holistic approach to well-being –

Engagement with unions and frequency of

safety audits

Priority Misconduct Unit fast tracks action

transport safety systems

In-stope roof bolting programme

communication and commitment

Culture transformation founded on safety

to well being “24 hours in the life of a Gold Fields employee”

unions and government

Strengthening a collaborative approach on fast tracks action

on safety transgressions

Increased focus

programme

Mine layouts and designs

Seismic task

founded on safety as prime value

Safe production focus groups to

approach on safety

on safe production from line supervision

Seismic task teampromote

involvement of all employees

Visible felt leadership

102

South African production in decline, plans in place to arrest this

2 500B t i KDC S th D

Production (‘000oz) South Africa Region production (‘000 ounces)

2 000

Beatrix KDC South Deep

1 500

KDC accounts for >90% of the decline since 20091 000

KDC accounts for >90% of the decline since 2009

500

02008 2009 2010 2011E

103

Decline due to reduced mineable face length at KDC

% Change(9 months to Sept 2010 vs 9 months to Sept 2011)

Gold -11%=

Overall gold down 11% driven by

− Reduction in face length worked

− Decline in grade

(9 months to Sept 2010 vs 9 months to Sept 2011)

Grade (cm.g/t) -3%

=

x

g

Mine call factor has been stable

Overall productivity maintained despite unplanned

MCF (%) +5%

SQM/ crew 0%

x

stoppages

Reduced workplace availability resulting fromSQM/ crew 0%

Work places -11%

x− Historical suspension of development in favour of secondary

support (to make safe)

− Closure of high risk pillars and reduction of extraction ratios for pg p

safety reasons

104

Plan to stabilise KDC between 250-275koz per quarter

Major investments in developing a safety culture

Business Process Re-engineering Programme (BPR)

− Shaft Full Potential (SFP) programme that is already delivering

− NCE management helping to mitigate cost inflation in 2011NCE management helping to mitigate cost inflation in 2011

Focus on surface mining (“Python” technology)

Upgrading skills within rationalised KDC structure

105

Shaft Full Potential programme: two fundamental drivers

Back to basics...

Focus on accelerating off and on reef

Increasing ‘work place availability’‘Full potential’ crew productivity

Launched several pilots - already having development

- Realising full potential from mechanised rigs on flat ends

a positive impact

- Continuous blastingrigs on flat ends

- Pro-active management of the pipeline to create mineable faces

- Face advance initiative

- Improved MCF

- 1 to 2 year programme to restore face length position

Improved MCF

- Increase face time

- Labour optimisation initiative

106

Our cost reduction program has helped offset inflation

SA Region Net Cost (R million)

R838 million of cost reductions have

helped contained cost escalation belowhelped contained cost escalation below

inflation

− Wage rates ~9%

− Electricity ~27%

Further cost savings identified

KDC production holding steady in 2011

KDC average monthly production (‘000 ounces)

Moving closer to 2010 levels

123 121120

140

101

87 90 92100

60

80

40

0

20

107

2008 2009 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011E

~5Moz surface opportunity at KDC

RD V6#

KDC and South Deep Surface Resources

RDV5#

RD V2#

RD 2Vent#

Tailings Storage Facilities:

~4.1Moz gold (~418 Mt @ KDC West

RD 13

RD 8 & 9

RD 10

RD L10#

g ( @

0.3g/t)

S f R k D

South Deep

RD 5

RD 6

RD 7RD 11

RD 12

RD 14

RD HW#

RD KM# RD SD

Surface Rock Dumps:

~0.6Moz gold (~30Mt @

0.6g/t)RD 14 RD K4#

RD K7#

Rock Dumps

TSF KDC East

108

Surface mining underpins KDC production profile

KDC surface production de-risked by processing tailings and rock dumps

Requires acquisition of new plant and conversion of existing ones

200• Migrate surface rock dump processing to mobile

plant (Python) through acquisition of second unit1

Forecast Production 2011E – 2020E (‘000 ounces)

150

TSF conventional plantPython plant (SRD)Conventional plant (SRD)

100

1

2

50

CurrentPlant

02011 2012 2013 2014 2015 2016 2017 2018 2019 2020Adapt conventional plants to re-processing of

tailings

Plant

2

109

Exploring alternative options for KDC

KDC West KDC East

2 plants;5 operating

h ft

D10D7

D8

D23 l t

K3K8

shafts

D5D4D1

3 plants;7 operating

shafts

EBA

K7

Plant

Tailings dam

Operating shaftLegend

1. Bring forward valuable ounces2 R i i i d b ti h ft t h l i ti d ti i i f t t2. Review mining areas served by operating shafts to enhance logistics and optimise infrastructure

Margin ahead of reserves

110

Margin ahead of reserves

Beatrix continues to provide predictable stable production

Beatrix production profile (‘000 oz)

A cash generator: R525m free cash flow generated in 9 months to September 2011

500

Consistent stable production from shallow

orebody

N i ifi i i i k

Beatrix production profile ( 000 oz)

300

400 No significant seismic risk

Well capitalised with no major investment

i d

200

300required

Pioneered carbon trading through methane

capture

100

capture

Remains a key part of strategy going

forward0

2008 2009 2010 2011E

forward

111

South Deep – flagship project in the region

Massive ore body: 34.5Moz reserve (>50 years of life)

World class reserve well understood Forecast production build-up (koz)

700800

High tech, safer, mechanised bulk mining

Mine design that has cracked the deep level bulk 300400500600700

mining code

Ramp up to 700koz run rate end 2015 (steady state

full production over life 700koz to 750koz per year)0

100200300

2011E 2012E 2013E 2014E 2015Efull production over life 700koz to 750koz per year)

Major progress on key infrastructure: on budget and on time2010 2011E 2012E 2013E 2014E 2015E Status

2011E 2012E 2013E 2014E 2015E

2010 2011E 2012E 2013E 2014E 2015E Status94 Level Refrigeration Plant CommissionedTwin Vent Shaft Deepening On-trackTailings Storage Facility CommissionedTailings Storage Facility CommissionedPlant Expansion On-trackBackfill Infrastructure On-trackNew Mine Development On goingNew Mine Development On-going

112

Ventilation shaft deepening

80% complete on budget and on time; commissioning planned July 2012

113

80% complete, on budget and on time; commissioning planned July 2012

Ventilation shaft equipping & headgearHeadgear A-Frame early lift strategy

Completed in May 2011

Rock winder installation progressing to plan – all major components manufactured and delivered to the mine

114

Tailings storage facilityReturn Water Dam – lining complete in No.2 TSF – tailings deposition to cover the toe drains is in progress

Pump station

No.1 No.2

Pump station

Return Water Dam – compartment No.2 being filledPenstock - returning water to fill the return water dam

115

Backfill infrastructure

Full Plant Tailings – Backfill plant under construction at South Shaft

116

Plant expansion

450ktpm downstream processing capacity

Leach extension earthworksElution earthworksLeach extension earthworks Elution earthworks

330ktpm milling capacityThickener earthworks

Thi k th k

117

Thickener earthworks

Mining philosophy

Mining a massive orebody at depth

De-stress mining Backfilling

Large backfilled

stope

MechanisationMechanisation

118

Combined mining methods

3D View of planned mining

Drifts

Long hole t istoping

Drives

De-stress Stope Drives

De-stress Stope Access Drives

119

Drives

De-stress accelerating, being de-risked with more access points

Enhanced understanding of the ore

South Deep De-stress mining (m2) Enhanced understanding of the ore

body, logistics, and skills required

8 000

Increasing number of access points in

place to lower delivery risk

6 000

place to lower delivery risk

Mining methodology proven; seismicity

4 000

managed and under control 2 000

Strengthened leadership team with

enhanced trackless mining skills0

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011 E

120

South Africa Region: the way forward

Targeting stable production of 250-275koz per quarter from KDC− On-going optimisation− Surface mining to de-risk production profile− Numerous options under review

Steady consistent production from Beatrix

Ramp up at South Deep Ramp-up at South Deep

Critical enablers:− Safety performance− Continued focus on BPR to manage costs and NCE

Focus on people

121

Sustainable steady state production

South Deep ramp-up

~ 2Moz

Beatrix stable at ~350kozpa

ramp-up 700koz run-rate by end 2015

Beatrix~355koz

~ 1.7Moz

KDC stabilised at 1 to 1.1Moz*South Deep

~280koz

KDC~1.1Moz

Current 2015 Target

123122

_________________________* Anticipated annual production over next 3 to 5 years