/ 9 May 2000

GOLD FIELDS GHANA DEAL ‘CLOSE’

GOLD Fields said on Thursday it and Ashanti Goldfields are close to wrapping up a deal to acquire the Teberebie mining operation in Ghana for a competitive price. Gold Fields MD Ian Cockerill said the two companies will divide Teberebie after its acquisition from the Pioneer Group, with Gold Fields taking the northern half. A mining analyst, who declined to be named, said the total price tag could be around $50-60 million. Cockerill said the Ghana government had given its approval for the deal and the companies were waiting for approval from the banks.