Overview of the South Deep ProjectSeptember 2011

Our Vision and Values

2

To be the global leader in sustainable gold mining

Locality – Wits Gold Fields

3

The Witwatersrand Gold Fields

� Historic production: > 1 600 000 000 oz of gold� 4.5bn tons of ore treated at an average grade of 9.0g/t

Locality – South Deep

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Well established mining area

Tautona

Mponeng

Blyvooruitsicht

Kusasalethu

Ezulwini

Cooke

Overview

Outline

� Massive underground orebody

� 81.5 Moz Resource

� 34.5 Moz Reserve

� Fully mechanised mine

� Build-up to 750koz run-rate by end of 2014

� Life of Mine of 54 years

5

Capital Programme

Building a world class mine

2010 2011 2012 2013 2014 Status

Refrigeration Plant Complete

Twin Vent Shaft On-track

Tailings Storage Facility Commissioned

Plant Expansion On-track

New Mine Development On-track

0.0

0.5

1.0

1.5

2.0

2.5

0

200

400

600

800

2009 A 2010 A 2011 E 2012 E 2013 E 2014 E

Rbn(oz)

Production (lhs) Capex (rhs)

Production and Capex

History

� 1950: Prospecting in the area commenced

� 1961: Production at Western Areas Gold Mine (WAGM) commenced

� 1999: Placer Dome Western Areas (PDWA) Joint Venture (JV) formed

� 2000: Name changed to South Deep Gold Mine

� 2005: Twin Shaft Complex opened

� 2006: Gold Fields acquired Barrick’s 50% JV interest in the PDWA JV

� 2007: Gold Fields acquired all remaining WAL shares to own 100% of South Deep GoldMine WAL listing terminated

6

0.93

0 0.07 0.12 0.060

0.4

0.8

1.2

F2008 F2009 F2010 F2011 C2011

Safety

7

Safety Trends

LDIFR

21.29

5.782.8 2.4 1.82

0

5

10

15

20

25

F2008 F2009 F2010 F2011 C2011

SIFR

6.66

2.111.1 0.84 1.09

0

2

4

6

8

F2008 F2009 F2010 F2011 C2011

FIIFR

Our People

� Employ approximately 3,700 people on operation

� Diverse workforce

� Well trained and qualified personnel

� World class medical facilities

� Wellness programme

� “24 hours in the life of a miner”

� Organised labour

� 72% NUM, 15% UASA and 14% non affiliated

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Sustainable Development

� Management of environmental aspects in line with latest legislative requirements

� Environmental Management Systems according to best practice international standards (ISO14001 certified)

� Water Management part of regional strategy

� International Cyanide Management Institute (ICMI) compliant

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Environmental Management

Geology

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General overview

Geology

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Vertical slice through the orebody

The primary reef targets are the MB’s and the EC’s

Geology

� Surface exploration programme of R173 million

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Exploration Programme

Surface

Pretoria Group

Black Reef

Chuniespoort

GroupBase at ±1800mbc

VCR

Klipriviersberg Group

Base at ±3000mbc

UpperElsburgsD7

D8

Orig.

D1D2

D3 D4D5

D6

Resources

Tonnes (Mt) Grade (g/t) Gold (‘000 oz)

Classification Dec 10 Jun 10 Jun 09 Dec 10 Jun 10 Jun 09 Dec 10 Jun 10 Jun 09

Underground

Measured 41.5 40.5 41.6 7.7 7.4 7.4 10,331 9,684 9,890

Indicated (AI) 250.5 125.7 125.9 6.6 8.7 8.7 53,523 35,016 35,038

Total Above

Infrastructure292.0 166.2 167.5 6.8 8.4 8.3 63,854 44,700 44,928

Indicated (BI) 42.3 92.6 92.6 7.0 6.3 6.3 9,568 18,898 18,898

Total Below

Infrastructure42.3 92.6 92.6 7.0 6.3 6.3 9,568 18,898 18,898

Grand Total 334.3 258.8 260.1 6.8 7.6 7.6 73,422 63,598 63,826

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Measured & Indicated Resources

Resources

Tonnes (Mt) Grade (g/t) Gold (‘000 oz)

Classification Dec 10 Jun 10 Jun 09 Dec 10 Jun 10 Jun 09 Dec 10 Jun 10 Jun 09

Underground

Inferred AI 17.2 78.0 78.0 6.3 5.8 5.8 3,460 14,566 14,566

Inferred(BI) 21.8 - - 6.5 - - 4,572 - -

Grand Total 39.0 78.0 78.0 6.4 5.8 5.8 8,032 14,566 14,566

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Tonnes (Mt) Grade (g/t) Gold (‘000 oz)

Grand Total 373.3 336.8 338.1 6.8 7.2 7.2 81,454 78,164 78,392

Inferred Resources

Total Measured, Indicated & Inferred Resources

Resources

0

40

80

120

160

200

240

280

Approximately one third of those of Gold Fields, AngloGold Ashanti and Barrick

Resources (Moz)

______________________Source: Goldval.com as at September 2010

Mining Philosophy

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Mining a massive orebody at depth

Large backfilled

stope

MechanisationMechanisation

De-stress mining Backfilling

Mine Design and Scheduling

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Reserving a great orebody

Trackless Drifts & Benches

Conventional Drifts & Drives

Longhole Stoping

Down Dip AccessedDestressing

Conventional Destress StopingApparent Dip Drifts & Drives with Benching

Conventional Composite Mining

Conventional Breast Mining

Bench access

Mining direction

Drift access

Bench mining Mining direction

Primary drift mining1

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Mining Methods – Drift and Bench Mining

Bench access

Main-access-drive

2.2m

Recently filled stoping drive

Stoping-drive

1 Stoping-drive mining

3 Stoping-drive completion2 Advance stope-access-drive

Mining Methods – Destress Mining

1 2

•

Longhole stope access Slot development

Slot raise

3 4 5Slot development Stoping Stoping

Completed slot

Slot access

••Mining Methods – Longhole stoping

Development towards the Wrench fault (105 & 105 levels)

Build-up in Phase-1 NoW

105 Development of intake and conveyer infrastructure

Current to October 2015

Mine Design and Scheduling

Current to Jan 2019

Destress mining accessed from 105 Level South of the Wrench fault

Continuation of the Phase-1 NoW at ~220Kt/m

105 SoW commence Jan 2013

110 Level Decline to SoW commence in October 2012

Mine Design and Scheduling

Infrastructure development on 95 and 93 levels to access the

Eastern portion of Phase-1 SoW (Block-A)

Start date Jan 2023

Current to Jan 2035

Stoping on the four corridors South of Wrench (West Block-B)

110 Level mining reaching SoW in 2020

Mine Design and Scheduling

Stoping in the Eastern portion of

Phase-1 SoW (Block-A)

Stoping in Phase-2

VCR mining

Current to Jan 2050

Mine Design and Scheduling

Completion of Phase-2

Current to Dec 2067

Completion of Phase-1 SoW (Block – A)

Mine Design and Scheduling

Final Extraction (April 2064)

VCR Pillar extraction

Retreat mining in original access areas

Mine Design and Scheduling

Reserves

Tonnes (Mt) Grade (g/t) Gold (‘000 oz)

Classification Dec 2010

June 2010

June 2009

Dec 2010

June 2010

June 2009

Dec 2010

June2010

June 2009

CM – Proved 14.9 14.1 15.2 6.5 5.9 5.9 3,113 2,700 2,906

CM – Probable 1.8 3.7 3.7 5.5 4.2 4.2 308 505 505

NOW - Probable 56.2 42.5 42.6 6.6 6.6 6.6 11,968 8,991 9,014

SOW – Probable 83.3 17.5 17.5 5.0 6.6 6.6 13,378 3,703 3,703

OM – Probable 0 3.8 3.8 0 8.7 8.7 0 1,044 1,044

Total AI 156.1 81.6 82.8 5.7 6.5 6.5 28,766 16,943 17,171

Probable (BI) –

Phase 236.5 66.6 66.6 4.9 5.8 5.8 5,767 12,315 12,315

Total 192.6 148.2 149.4 5.6 6.1 6.1 34,533 29,258 29,486

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Mineral Reserves at a gold price of R265,000/kg

0

40

80

120

160

ReservesApproximately one third of those of Gold Fields, AngloGold Ashanti

Reserves (Moz)

______________________Source: Goldval.com as at September 2010

Existing Mine Infrastructure

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Station Station

33 Lvl

48 Lvl

49 Lvl

50 Lvl

53 Lvl

56 Lvl

58 Lvl

60 Lvl

63 Lvl

65 Lvl

68 Lvl

70 Lvl

70a Lvl

71 Lvl

72 Lvl

75 Lvl

78 Lvl

80 Lvl

83 Lvl

85 Lvl

87 Lvl

90 Lvl 90 Lvl

93 Lvl 93 Lvl

94 Lvl

95 Lvl 95 Lvl

100 Lvl 100 Lvl

105 Lvl 105 Lvl

110 Lvl 110 Lvl

110a Lvl

Colour Coding: Red Up Cast.Green Down CastGold Rock Handling Capacity

Rock Capacity 120ktpm Rock Capacity 175ktpmRock Capacity 195ktpm

94 Level Refrigeration

SV 1

50 Level Plugs

Shaft damaged

South Shaft

SV 3

80 Level Pumps & Refrigeration

Plants

83 Level Backfill Plant

95a Level Pump Station

Intermediate Pump Stations

Twins Ventilation Shaft

Twins Main Shaft

51 Level Pump Station

84 Level Pump Station

Metallurgical Plant

SV 2

Deepened Section

110a Pump

Challenge is the limited Storage from 95 Level to

95a Level

1.4km

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Headgear A-Frame early lift strategyCompleted in May 2011

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

Planned Mine Infrastructure – Vent Shaft Deepening

105 level

100 level

110 level

95 level

Main Shaft Ventilation Shaft

Reef silo’s 105 to 110 level

110A level

100A level

Reef silo’s 110 to 110A level

Settlers & dams 105 to 110 level

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Reef silo’s 100 to 105 level

Main Shaft Ventilation ShaftPlanned Mine Infrastructure – Mine Development

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Full Plant Tailings – Backfill plant under construction at South Shaft

Planned Mine Infrastructure – Backfill Infrastructure

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Completed Silt Trap and Neutralisation Plant

TSF – tailings deposition to cover the toe drains is in progress

Penstock - returning water to fill the return water dam

No.1

No.2

Planned Mine Infrastructure – Tailings Storage Facility

Return Water Dam – lining complete and both return dams being filled

330ktpm milling capacity

450ktpm downstream processing capacity

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Leach extension earthworks

Planned Mine Infrastructure – Plant Expansion

Leach extension earthworks

Thickener earthworks

Leach Extension Civils

Thickener Civilsand Earthworks

Ball Mill 2 Civilsand Earthworks

Thickener Civilsand Earthworks

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Eskom new 132KV overhead supply line

40MVA transformer No.5

Substation extension

Planned Mine Infrastructure – Electrical Infrastructure

Enjoy your visit to South Deep