GOLD FIELDS PROVIDES MARKET UPDATE ON PROPOSED YAMANA GOLD ACQUISITION

Rhea-AI Summary

Gold Fields Limited has announced a market update regarding its proposed acquisition of all outstanding common shares of Yamana Gold Inc. This significant transaction aims to strengthen Gold Fields' position in the gold mining sector, creating a combined entity with enhanced quality and investment prospects. The acquisition is expected to leverage synergies that may improve operational efficiency and revenue growth. Gold Fields operates nine mines globally and reported annual gold-equivalent production of 2.34 million ounces, indicating a strong production capacity.

Positive

• Proposed acquisition of Yamana Gold Inc. enhances Gold Fields' market position.
• Potential synergies may lead to improved operational efficiency.
• Combined entity expected to boost revenue growth.

Negative

• None.

JOHANNESBURG, July 11, 2022 /PRNewswire/ -- Gold Fields Limited (Gold Fields) (JSE: GFI) (NYSE: GFI) is pleased to provide a market update regarding the proposed acquisition of all the outstanding common shares of Yamana Gold Inc. (TSX: YRI) (NYSE: AUY) (LSE: AUY) (Yamana) (the Transaction), including additional information on the quality and investment case of the combined company.

Full media release is available on the company website:
www.goldfields.com

Notes to editors

About Gold Fields

Gold Fields Limited is a globally diversified gold producer with nine operating mines in Australia, Peru, South Africa, and West Africa (including the Asanko Joint Venture) and one project in Chile. We have total attributable annual gold-equivalent production of 2.34Mo, attributable gold-equivalent Mineral Reserves of 48.6Moz and gold Mineral Resources of 111.8Moz. Our shares are listed on the Johannesburg Stock Exchange (JSE) and our American depositary share trade on the New York Stock Exchange (NYSE).

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

Investor Enquiries
Avishkar Nagaser
Tel: +27 11 562 9775
Mobile: +27 82 312 8692
Email: Avishkar.Nagaser@goldfields.com 

Media Contacts:
Thomas Mengel
Tel: +27 11 562 9849
Mobile: +27 72 493 5170
Email: Thomas.Mengel@goldfields.com

Sven Lunsche
Tel: +27 11 562 9763
Mobile: +27 82 260 9279
Email: Sven.Lunsche@goldfields.com

View original content:https://www.prnewswire.com/news-releases/gold-fields-provides-market-update-on-proposed-yamana-gold-acquisition-301583565.html

SOURCE Gold Fields Limited

FAQ

What is the proposed acquisition of Yamana Gold by Gold Fields about?

Gold Fields proposes to acquire all outstanding common shares of Yamana Gold to strengthen its market position.

What are the expected benefits of the Gold Fields and Yamana Gold acquisition?

The acquisition is expected to create synergies that can improve operational efficiency and boost revenue.

When was the market update regarding the Yamana Gold acquisition announced?

The market update was announced on July 11, 2022.

What is Gold Fields' production capacity after the Yamana acquisition?

Gold Fields has an annual gold-equivalent production capacity of 2.34 million ounces.

What stock symbols are associated with Gold Fields and Yamana Gold?

Gold Fields is listed under the stock symbol GFI, while Yamana Gold trades under AUY.