GFI 201706200010A
Gold Fields hedges oil and Australian gold prices

Gold Fields Limited
Reg. No. 1968/004880/06)
Incorporated in the Republic of South Africa)
Share Code: GFI
ISIN Code: ZAE000018123


MEDIA RELEASE


Gold Fields hedges oil and Australian gold prices


Johannesburg, 20 June 2017: Gold Fields Limited (Gold Fields) (JSE, NYSE:
GFI) has undertaken select hedging of the oil price and the Australian
dollar gold price given recent volatility in commodity prices and exchange
rates.

The oil hedge comprises:
   - Australia: 78m litres at an equivalent Brent Crude swap price of
     US$49.92/bbl for the period June 2017 to December 2019
   - Ghana: 126m litres at an equivalent Brent Crude swap price of
     US$49.80/bbl for the period June 2017 to December 2019

The volumes hedged represent 50% of the annualised fuel consumption for the
two regions.

The Australian dollar gold price hedge comprises:
   - 165,000oz with a floor price of A$1,695.86 and a cap of A$1,754.18
     (averaged), for the period July 2017 to December 2017
   - 130,000oz at an average forward price of A$1,719.92, for the period
     July 2017 to December 2017

The gold volumes hedged represent approximately 75% of the          expected
production from the Australia region for the second half of 2017.

This hedging activity is in line with Gold Fields’ policy to protect cash
flow at a time of significant expenditure. The Australian dollar gold price
hedge will protect the underlying cash flow of Gold Fields Australia, while
it is funding the construction of the Gruyere gold project.

Enquiries

Investors

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

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

Sven Lunsche
Tel: +27 11 562-9763
Mobile: +27 83 260 9279
Email : Sven.Lunsche@goldfields.com

                                      ends


Notes to editors

About Gold Fields

Gold Fields Limited is a globally diversified producer of gold with eight
operating mines in Australia, Ghana, Peru and South Africa with attributable
annual gold-equivalent production of approximately 2.2 million ounces. It
has attributable gold Mineral Reserves of around 48 million ounces and gold
Mineral Resources of around 101 million ounces. Attributable copper Mineral
Reserves total 454 million pounds and Mineral Resources 5,813 million
pounds. Gold Fields has a primary listing on the Johannesburg Stock Exchange
(JSE) Limited, with secondary listings on the New York Stock Exchange (NYSE)
and the Swiss Exchange (SWX).

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

Date: 20/06/2017 09:33:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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