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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001205613-06-000071.txt : 20061117
<SEC-HEADER>0001205613-06-000071.hdr.sgml : 20061117
<ACCEPTANCE-DATETIME>20060508100050
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001205613-06-000071
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20060508

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOLD FIELDS LTD
		CENTRAL INDEX KEY:			0001172724
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		24 ST ANDREWS ROAD
		CITY:			PARKTOWN
		STATE:			T3
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		POST NET SUITE 252
		STREET 2:		PRIVATE BAG X30500
		CITY:			HOUGHTON 2041 SOUTH AFRICA
		STATE:			M3
		ZIP:			00000
</SEC-HEADER>
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<TITLE>Page 1</TITLE>




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<FONT style="font-family:arial;font-size:10pt;color:#000000;"><DIV style="position:relative;width:758;height:1073;">
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<DIV style="position:absolute;top:36;left:704"><font style="font-size:13.6pt;"> </font></DIV>
<DIV style="position:absolute;top:993 ;left:54"><font style="font-size:7.6pt;">Directors:</font></DIV>
<DIV style="position:absolute;top:992 ;left:97 "><font style="font-size:8.5pt;"> </font></DIV>
<DIV style="position: absolute; top: 994; left: 101; width: 624; height: 19"><font style="font-size:6pt;">A J Wright (Chairman), I D Cockerill</font></DIV>
<DIV style="position: absolute; top: 992; left: 226; width: 532; height: 19"><font style="font-size:3.4pt;">&#8224;</font></DIV>
<DIV style="position: absolute; top: 994; left: 236; width: 522; height: 19"><font style="font-size:6.8pt;"> (Chief Executive Officer),K Ansah</font></DIV>
<DIV style="position: absolute; top: 992; left: 386; width: 372; height: 19"><font style="font-size:3.4pt;">#</font></DIV>
<DIV style="position:absolute;top:994 ;left:384"><font style="font-size:6.8pt;">, G J Gerwel, A Grigorian&deg;, N J Holland</font></DIV>
<DIV style="position: absolute; top: 992; left: 549; width: 209; height: 19"><font style="font-size:3.4pt;">&#8224;</font></DIV>
<DIV style="position: absolute; top: 994; left: 555; width: 203; height: 19"><font style="font-size:6.8pt;"> (Chief Financial Officer), J M McMahon</font></DIV>
<DIV style="position: absolute; top: 992; left: 722; width: 36; height: 19"><font style="font-size:3.4pt;">&#8224;</font></DIV>
<DIV style="position:absolute;top:994 ;left:702"><font style="font-size:6.8pt;">, </font></DIV>
<DIV style="position:absolute;top:1005;left:54"><font style="font-size:6.8pt;">J G Hopwood, D M J Ncube, R L Pennant-Rea</font></DIV>
<DIV style="position: absolute; top: 1003; left: 252; width: 506; height: 19"><font style="font-size:3.4pt;">&#8224;</font></DIV>
<DIV style="position: absolute; top: 1005; left: 256; width: 502; height: 19"><font style="font-size:6.8pt;">, P J Ryan, T M G Sexwale, C I von Christierson  </font></DIV>
<DIV style="position:absolute;top:1014;left:54"><font style="font-size:3.4pt;">&#8224;</font></DIV>
<DIV style="position:absolute;top:1015;left:57"><font style="font-size:6.8pt;">British, </font></DIV>
<DIV style="position:absolute;top:1014;left:87 "><font style="font-size:3.4pt;">#</font></DIV>
<DIV style="position:absolute;top:1015;left:90 "><font style="font-size:6.8pt;">Ghanaian, &deg;Russian</font></DIV>
<DIV style="position:absolute;top:1014;left:170"><font style="font-size:8.5pt;"> </font></DIV>
<DIV style="position:absolute;top:1025;left:54"><font style="font-size:7.6pt;">Corporate Secretary:</font></DIV>
<DIV style="position:absolute;top:1025;left:148"><font style="font-size:8.5pt;"> </font></DIV>
<DIV style="position:absolute;top:1026;left:152"><font style="font-size:6.8pt;">C Farrel </font></DIV>
<DIV style="position:absolute;top:197;left:587"><font style="font-size:10.2pt;">Gold Fields Limited</font></DIV>
<DIV style="position:absolute;top:211;left:587"><font style="font-size:8.5pt;line-height:15px;">Reg. 1968/004880/06 <br>24 St Andrews Road <br>Parktown, 2193 <br> <br>Postnet Suite 252 <br>Private Bag X30500 <br>Houghton, 2041 <br>South Africa <br> </font></DIV>
<DIV style="position:absolute;top:332;left:588"><font style="font-size:8.5pt;line-height:15px;">Tel  +27 11 644-2400 <br>Dir  +27 11 644-2502 <br>Fax  +27 11 484-0590 </font></DIV>
<DIV style="position:absolute;top:372;left:587"><font style="font-size:8.5pt;">www.goldfields.co.za </font></DIV>
<DIV style="position:absolute;top:164;left:614"><font style="font-size:11.9pt;"><b>EXECUTIVE</b></font></DIV>
<DIV style="position:absolute;top:215;left:54"><font style="font-size:12pt;"><b> </b></font></DIV>
<DIV style="position:absolute;top:232;left:54"><font style="line-height:17px;">H. Roger Schwall <br>Assistant Director <br>United States Securities and Exchange Commission <br>Division of Corporation Finance <br>100 F Street, N.E. <br>Washington, D.C. 20549-7010 <br>United States of America </font></DIV>
<DIV style="position:absolute;top:356;left:54"><font style="font-size:0pt;"> </font></DIV>
<DIV style="position:absolute;top:367;left:54"> </DIV>
<DIV style="position:absolute;top:436;left:54"><b>By Facsimile and EDGAR </b></DIV>
<DIV style="position:absolute;top:436;left:637">6 May 2006</DIV>
<DIV style="position:absolute;top:470;left:54"><font style="font-size:0pt;"> </font></DIV>
<DIV style="position:absolute;top:470;left:163"><font style="font-size:0pt;"> </font></DIV>
<DIV style="position:absolute;top:470;left:272"><font style="font-size:0pt;"> </font></DIV>
<DIV style="position:absolute;top:470;left:479"><font style="font-size:0pt;"> </font></DIV>
<DIV style="position:absolute;top:492;left:54"><font style="font-size:0pt;"> </font></DIV>
<DIV style="position:absolute;top:492;left:272"><font style="font-size:0pt;"> </font></DIV>
<DIV style="position:absolute;top:492;left:479"><font style="font-size:0pt;"> </font></DIV>
<DIV style="position:absolute;top:494;left:54"><font style="font-size:0pt;"> </font></DIV>
<DIV style="position:absolute;top:528;left:54">Dear Mr. Schwall: </DIV>
<DIV style="position:absolute;top:546;left:54"><font style="font-size:11pt;line-height:23px;"><b>Re:  Gold Fields Limited <br> </b></font></DIV>
<DIV style="position:absolute;top:566;left:85 "><font style="font-size:11pt;"><b>Form 20-F for the year ended June 30, 2005 </b></font></DIV>
<DIV style="position:absolute;top:587;left:54"><font style="font-size:11pt;"><b> </b></font></DIV>
<DIV style="position:absolute;top:587;left:85 "><font style="font-size:11pt;"><b>Filed on December 22, 2005 </b></font></DIV>
<DIV style="position:absolute;top:607;left:54"><font style="font-size:11pt;"><b> </b></font></DIV>
<DIV style="position:absolute;top:607;left:85 "><font style="font-size:11pt;"><b>File No. 001-31318 </b></font></DIV>
<DIV style="position: absolute; top: 636; left: 54; width: 648; height: 112"><font style="line-height:17px;">We refer to the comment letter (the &#8220;<b>Comment Letter</b>&#8221;) dated March 20, 2006 of the staff (&#8220;<b>Staff</b>&#8221;) of the Division of </font><font style="line-height:17px;"> </font><font style="line-height:17px;">Corporation Finance of the Securities and Exchange Commission (the &#8220;<b>Commission</b>&#8221;) on the above referenced </font><font style="line-height:17px;"> </font><font style="line-height:17px;">Form 20-F, as amended (the &#8220;<b>2005</b>  <b>Form 20-F</b>&#8221;), of Gold Fields Limited (&#8220;<b>Gold Fields</b>&#8221; or the &#8220;<b>Company</b>&#8221;), the </font><font style="line-height:17px;"> </font><font style="line-height:17px;">Company&#8217;s response letter (the &#8220;<b>Response Letter</b>&#8221;) dated 4 April 2006 and the subsequent conversation between </font><font style="line-height:17px;"> </font><font style="line-height:17px;">Mark Wojciech
owski of the Staff and our counsel, Jennifer Schneck of Linklaters, regarding the Company&#8217;s </font><font style="line-height:17px;"> </font><font style="line-height:17px;">response to comment 6 of the Comment Letter.  For your convenience we repeat below the Staff&#8217;s original </font><font style="line-height:17px;"> </font><font style="line-height:17px;">comment 6 from the Comment Letter and the Company&#8217;s response from the Response Letter. </font></DIV>
<DIV style="position:absolute;top:770;left:54">6. </DIV>
<DIV style="position:absolute;top:770;left:96 ">As footnotes, or as part of your reserve tables, or text within the property description, disclose the following: </DIV>
<DIV style="position:absolute;top:795;left:119">&#8226;  The mine dilution factor for each mine. </DIV>
<DIV style="position:absolute;top:823;left:119">&#8226;  The mining recovery factor for each mine. </DIV>
<DIV style="position:absolute;top:850 ;left:119">&#8226;  The metallurgical recovery factor for each mine. </DIV>
<DIV style="position:absolute;top:878 ;left:119">&#8226;  The cutoff grade or pay limit for each operation. </DIV>
<DIV style="position:absolute;top:906 ;left:54"> </DIV>
<DIV style="position: absolute; top: 904; left: 97; width: 661; height: 21"><i><b>Response </b></i></DIV>
<DIV style="position:absolute;top:933 ;left:96 "><font style="line-height:17px;">The Company acknowledges the Staff&#8217;s comment and respectfully submits that the metallurgical recovery <br>factor for each mine is already included in footnote (1) to its ore reserve table. The Company believes that </font></DIV>
</DIV>
</FONT><FONT style="font-family:arial;font-size:10pt;color:#000000;"><DIV style="position:relative;width:758;height:1073;page-break-before:always;">
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<DIV style="position:absolute;top:215;left:96 "><font style="line-height:17px;">the additional requested information is not material, but will revise its reserve table presentation in future <br>filings with the Commission to include also the mine dilution factor for each mine, the mining recovery factor <br>for each mine and cutoff grade or pay limit for each operation. </font></DIV>
<DIV style="position: absolute; top: 275; left: 99; width: 659; height: 21"><i><b>Further Response</b></i> </DIV>
<DIV style="position:absolute;top:303;left:96 "><font style="line-height:17px;">We understand that the Staff would like to see, on a supplemental basis, the disclosure the Company <br>proposes to include in its reserve table in future filings with the Commission in response to this comment.  <br>The Company intends to include the requested information in footnotes to its reserve tables, in a similar <br>fashion to the information regarding the metallurgical recovery factor for each mine already included in <br>footnote (1) to its gold ore reserve table.  Had the additional requested information been included in the <br>gold ore reserve table in the 2005 20-F, the Company would have replaced the existing footnote (1) with 5 <br>footnotes, all referenced against the main table heading and numbered (1a) to (1e) as follows: <b> </b></font></DIV>
<DIV style="position:absolute;top:436;left:96 ">(1a) </DIV>
<DIV style="position:absolute;top:436;left:146">Quoted as mill delivered tonnes and run of mine grades, inclusive of all mining dilutions and gold </DIV>
<DIV style="position:absolute;top:453;left:96 "><font style="line-height:17px;">losses except mill recovery. Metallurgical recovery factors have not been applied to the reserve figures. The <br>approximate metallurgical factors are as follows: (i) Driefontein 97%; (ii) Kloof 97%; (iii) Beatrix 96%; (iv) <br>Tarkwa 95% for milling, 67% for heap leach; (v) Damang 89%-93%; (vi) St. Ives 85%-95% for milling, 60% <br>for heap leach and (vii) Agnew 93%-95%.  The metallurgical recovery is the ratio, expressed as a <br>percentage, of the mass of the specific mineral product actually recovered from ore treated at the plant to <br>its total specific mineral content before treatment.  The South African operations have a fairly consistent <br>metallurgical recovery, while the recoveries on the International operations vary according to the mix of the <br>source material and method of treatment. </font></DIV>
<DIV style="position:absolute;top:603;left:96 ">(1b) </DIV>
<DIV style="position:absolute;top:603;left:146">For Driefontein, Kloof and Beatrix, a gold price of Rand 92,000 per kilogram ($375 per ounce at an </DIV>
<DIV style="position:absolute;top:621;left:96 "><font style="line-height:17px;">exchange rate of Rand 7.63 per $1.00) was applied in calculating ore reserve figures. For the Tarkwa and <br>Damang operations and the Cerro Corona Project, ore reserve figures are based on an optimized pit at a <br>gold price of $375 per ounce. For the Australian operations ore reserve figures are based on a gold price of <br>A$560 per ounce ($375 per ounce at an exchange rate of A$1.49 per $1.00). Open pit ore reserves at the <br>Australian operations are similarly based on optimized pits. The gold price used for reserves is the three <br>year average, calculated on a monthly basis, of the London afternoon fixing price of gold. </font></DIV>
<DIV style="position:absolute;top:735;left:96 ">(1c) </DIV>
<DIV style="position:absolute;top:735;left:146">For the South African operations, mine dilution relates to the difference between the mill tonnage </DIV>
<DIV style="position:absolute;top:753;left:96 "><font style="line-height:17px;">and the stope face tonnage and includes other sources stoping (which is waste that is broken on the mining <br>horizon, other than on the stope face), development to mill and tonnage discrepancy (which is the <br>difference between the tonnage expected on the basis of the mine&#8217;s measuring methods and the tonnage <br>accounted for by the plant). For the International operations, dilution relates to unplanned waste and/or low-<br>grade material being mined and delivered to the mill.  Ranges are given for those operations that have <br>multiple ore body styles and mining methodologies. The mine dilution factors are as follows: (i) Driefontein <br>24%; (ii) Kloof 22%; (iii) Beatrix 22%; (iv) Tarkwa 10%; (v) Damang 11%-15%; (vi) St. Ives 20%; and (vii) <br>Agnew 10-20%. </font></DIV>
<DIV style="position:absolute;top:902 ;left:96 ">(1d) </DIV>
<DIV style="position:absolute;top:902 ;left:146">The mining recovery factor relates to the proportion or percentage of ore mined from the defined </DIV>
<DIV style="position:absolute;top:919 ;left:96 "><font style="line-height:17px;">ore body at the gold price used for the declaration of reserves.  This percentage will vary from mining area <br>to mining area.  This percentage reflects planned and scheduled reserves against total potentially available <br>reserves (at the gold price used for the declaration of reserves), with all modifying factors, mining </font></DIV>
</DIV>
</FONT><FONT style="font-family:arial;font-size:10pt;color:#000000;"><DIV style="position:relative;width:758;height:1073;page-break-before:always;">
<IMG style="position:absolute;top:-2146;clip:rect(2146,758,3219,0)" src="gf_corresp001n.gif" alt="background image">
<DIV style="position:absolute;top:215;left:96 "><font style="line-height:17px;">constraints and pillar discounts applied. The mining recovery factors are as follows:  (i) Driefontein 88%; (ii) <br>Kloof 50%; (iii) Beatrix 65%; (iv) Tarkwa 95%; (v) Damang 97%; (vi) St. Ives 81%; and (vii) Agnew 90%-<br>95%. </font></DIV>
<DIV style="position:absolute;top:275;left:96 ">(1e) </DIV>
<DIV style="position:absolute;top:275;left:146">The paylimit (South African operations) and cut-off grade (International operations) vary per shaft, </DIV>
<DIV style="position:absolute;top:293;left:96 "><font style="line-height:17px;">open pit or underground mine, depending on the respective costs, depletion schedule, ore type and dilution.  <br>The following are the average or range of values applied in the planning process:  (i) Driefontein 1,560 <br>cm.g/t; (ii) Kloof 1,620 cm.g/t; (iii) Beatrix 970 cm.g/t; (iv) Tarkwa 0.35 g/t for heap leach and 0.59 g/t for mill <br>feed; (v) Damang 1.0 g/t for fresh ore and 0.6 g/t for oxide ore; (vi) St. Ives 0.8 g/t for heap leach, 1.1 g/t for <br>mill feed - open pit, and 3.0 - 5.0 g/t for mill feed - underground; and (vii) Agnew 0.7-0.9 g/t for mill feed - <br>open pit, and 3.1 - 6.1 g/t for mill feed - underground. </font></DIV>
<DIV style="position:absolute;top:407;left:96 "> </DIV>
<DIV style="position: absolute; top: 432; left: 55; width: 703; height: 21">Supplemental information </DIV>
<DIV style="position:absolute;top:460;left:54"><font style="line-height:17px;">Pursuant to a request from the Staff, Gold Fields hereby acknowledges (i) it is responsible for the adequacy and <br>accuracy of the disclosure in the filing, (ii) Staff comments or changes to disclosure in response to Staff comments <br>do not foreclose the Commission from taking any action with respect to the filing and (iii) it may not assert Staff <br>comments as a defense in any proceeding initiated by the Commission or any person under the federal securities <br>laws of the United States. </font></DIV>
<DIV style="position:absolute;top:558;left:54"> </DIV>
<DIV style="position:absolute;top:584;left:331"><b>*     *     *     *     *</b> </DIV>
<DIV style="position:absolute;top:611;left:54"><font style="line-height:17px;">Should you or the Staff have any questions or require any additional information, please contact the undersigned at <br>+27 11 644 2502 or via e-mail at nholland@goldfields.co.za.  </font></DIV>
<DIV style="position:absolute;top:656;left:54"><font style="line-height:17px;"> <br>Yours sincerely, </font></DIV>
<DIV style="position:absolute;top:691;left:54"><font style="font-size:12pt;"> </font></DIV>
<DIV style="position:absolute;top:708;left:54">/s/  Nicholas Holland </DIV>
<DIV style="position:absolute;top:723;left:54"><font style="font-size:12pt;line-height:20px;"> <br>Nicholas J. Holland <br>Chief Financial Officer </font></DIV>
<DIV style="position:absolute;top:759;left:329"><font style="font-size:12pt;"> </font></DIV>
<DIV style="position: absolute; top: 782; left: 54; width: 704; height: 53"><font style="font-size:12pt;line-height:20px;">Gold Fields Limited <br> <br> </font></DIV>
<DIV style="position:absolute;top:811;left:329"><font style="font-size:12pt;"> </font></DIV>
<DIV style="position:absolute;top:829;left:54"><font style="font-size:12pt;line-height:20px;"> <br>cc: </font></DIV>
<DIV style="position:absolute;top:846;left:100"><font style="font-size:12pt;">Mark Wojciechowski, Securities and Exchange Commission </font></DIV>
<DIV style="position:absolute;top:864 ;left:54"><font style="font-size:12pt;"> </font></DIV>
<DIV style="position:absolute;top:864 ;left:100"><font style="font-size:12pt;">George K. Schuler, Securities and Exchange Commission </font></DIV>
<DIV style="position:absolute;top:882 ;left:54"><font style="font-size:12pt;"> </font></DIV>
<DIV style="position:absolute;top:882 ;left:100"><font style="font-size:12pt;">Paul Pretorius, Gold Fields Limited </font></DIV>
<DIV style="position: absolute; top: 899; left: 101; width: 657; height: 56"><font style="font-size:12pt;line-height:20px;">Paul Schmidt, Gold Fields Limited <br>Jennifer Schneck, Linklaters <br> </font></DIV>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
