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Monday, 30th October 2006 (2075 views)

Gold Fields, one of the world's largest gold producers, has announced its listing on the Dubai International Financial Exchange (DIFX).

The move makes Gold Fields the first African and gold mining firm on the listing, improving the reputation of the firm and South Africa for potential investors.

Ian Cockerill, the chief executive officer of the firm, explained that the move was positive for both the company and the country.

He said: "I am delighted that Gold Fields is again leading South African companies into a new terrain that we believe will yield many positive returns in the future."

Buyelwa Sonjica, the South African minister of minerals and energy, also expressed her approval at the decision, saying: "Gold Fields is one of South Africa's leading companies and also one of our proudest exports."

She added that the listing in Dubai "supports our government's initiatives to build solid cross-border interactions and encourage capital inflows into our beautiful country".

The move could bring more money and jobs into the South African mining industry and economy. Gold Fields itself is one of the world's largest unhedged gold producers, maintaining an average annual gold production of around 4.1 million ounces.

 

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