-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 JqO64eb97C7Wo9HbgtSNV7t5vXiUFsTnhiJOvOzvx+6MFD0NRa/ojzFbNkn5N/ch
 HMMDOaMIyBKAeJlAV0OGcA==

<SEC-DOCUMENT>0001205613-07-000115.txt : 20071214
<SEC-HEADER>0001205613-07-000115.hdr.sgml : 20071214
<ACCEPTANCE-DATETIME>20070919120331
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001205613-07-000115
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20070919

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>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>

<HTML>
<HEAD>
<TITLE>Page 1</TITLE>




</HEAD>
<BODY style="margin:0" bgcolor="#A0A0A0" vlink="blue" link="blue"><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN">
<FONT style="font-family:arial;font-size:9pt;color:#000000;"><DIV style="position:relative;width:758;height:1073;">
<IMG style="position:absolute;clip:rect(0,758,1073,0)" src="goldfields_response001n.gif" alt="background image">
<DIV style="position:absolute;top:35;left:667"><font style="font-size:13.6pt;"> </font></DIV>
<DIV style="position:absolute;top:993 ;left:91 "><font style="font-size:8.5pt;">Directors:</font></DIV>
<DIV style="position:absolute;top:992 ;left:135"><font style="font-size:8.5pt;"> </font></DIV>
<DIV style="position:absolute;top:995 ;left:138"><font style="font-size:6.8pt;">A J Wright (Chairman), I D Cockerill</font></DIV>
<DIV style="position: absolute; top: 993; left: 291; width: 467; height: 19"><font style="font-size:5.1pt;">&#8224;</font></DIV>
<DIV style="position: absolute; top: 995; left: 296; width: 462; height: 19"><font style="font-size:6.8pt;"> (Chief Executive Officer), K Ansah</font></DIV>
<DIV style="position: absolute; top: 993; left: 446; width: 312; height: 19"><font style="font-size:5.1pt;">#</font></DIV>
<DIV style="position: absolute; top: 995; left: 452; width: 306; height: 19"><font style="font-size:6.8pt;">, A Grigorian&deg;, N J Holland</font></DIV>
<DIV style="position: absolute; top: 993; left: 564; width: 194; height: 19"><font style="font-size:5.1pt;">&#8224;</font></DIV>
<DIV style="position: absolute; top: 995; left: 569; width: 189; height: 19"><font style="font-size:6.8pt;"> (Chief Financial Officer), J G </font></DIV>
<DIV style="position:absolute;top:1005;left:91 "><font style="font-size:6.8pt;line-height:12px;">Hopwood,  <br>G Marcus, J M McMahon</font></DIV>
<DIV style="position: absolute; top: 1014; left: 193; width: 565; height: 19"><font style="font-size:5.1pt;">&#8224;</font></DIV>
<DIV style="position:absolute;top:1015;left:194"><font style="font-size:6.8pt;">, D M J Ncube, R L Pennant-Rea</font></DIV>
<DIV style="position: absolute; top: 1014; left: 335; width: 423; height: 19"><font style="font-size:5.1pt;">&#8224;</font></DIV>
<DIV style="position: absolute; top: 1015; left: 348; width: 410; 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: 555; width: 203; height: 19"><font style="font-size:5.1pt;">&#8224;</font></DIV>
<DIV style="position: absolute; top: 1015; left: 564; width: 194; height: 19"><font style="font-size:6.8pt;">British, </font></DIV>
<DIV style="position: absolute; top: 1014; left: 594; width: 164; height: 19"><font style="font-size:5.1pt;">#</font></DIV>
<DIV style="position: absolute; top: 1015; left: 602; width: 156; height: 19"><font style="font-size:6.8pt;">Ghanaian, </font></DIV>
<DIV style="position: absolute; top: 1015; left: 645; width: 113; height: 19"><font style="font-size:6.8pt;">&deg;</font></DIV>
<DIV style="position: absolute; top: 1015; left: 653; width: 105; height: 19"><font style="font-size:6.8pt;">Russian </font></DIV>
<DIV style="position:absolute;top:1025;left:91 "><font style="font-size:8.5pt;">Corporate Secretary:</font></DIV>
<DIV style="position:absolute;top:1025;left:187"><font style="font-size:8.5pt;"> </font></DIV>
<DIV style="position:absolute;top:1027;left:189"><font style="font-size:6.8pt;">C Farrel </font></DIV>
<DIV style="position:absolute;top:197;left:587">Gold Fields Limited </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: 376; left: 587; width: 171; height: 15"><font style="font-size:8.5pt;">www.goldfields.co.za </font></DIV>
<DIV style="position:absolute;top:176;left:614"><font style="font-size:11.9pt;">EXECUTIVE</font></DIV>
<DIV style="position:absolute;top:215;left:91 "><font style="line-height:14px;">Karl Hiller <br>Branch Chief <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 <br> <br>19 September 2007 </font></DIV>
<DIV style="position: absolute; top: 384; left: 91; width: 667; height: 3"><font style="font-size:13.6pt;"> </font></DIV>
<DIV style="position:absolute;top:385;left:91 "><font style="line-height:17px;"><b>By EDGAR <br> <br></b>Dear Mr. Hiller: <br> </font></DIV>
<DIV style="position:absolute;top:450;left:91 "><font style="font-size:12.8pt;line-height:23px;"><b>Re:  Gold Fields Limited <br> </b></font></DIV>
<DIV style="position:absolute;top:470;left:123"><font style="font-size:12.8pt;"><b>Form 20-F for the year ended June 30, 2006 </b></font></DIV>
<DIV style="position:absolute;top:491;left:91 "><font style="font-size:12.8pt;"><b> </b></font></DIV>
<DIV style="position:absolute;top:491;left:123"><font style="font-size:12.8pt;"><b>Filed on November 24, 2006 </b></font></DIV>
<DIV style="position:absolute;top:511;left:91 "><font style="font-size:12.8pt;"><b> </b></font></DIV>
<DIV style="position:absolute;top:511;left:123"><font style="font-size:12.8pt;"><b>File No. 001-31318 </b></font></DIV>
<DIV style="position:absolute;top:541;left:91 "><font style="line-height:17px;">We refer to the comment letter (the &#8220;<b>Comment Letter</b>&#8221;) dated August 28, 2007 of the staff (&#8220;<b>Staff</b>&#8221;) of <br>the Division of Corporation Finance of the Securities and Exchange Commission (the &#8220;<b>Commission</b>&#8221;) <br>on the above referenced Form 20-F (the &#8220;<b>2006</b> <b>Form 20-F</b>&#8221;) of Gold Fields Limited (&#8220;<b>Gold Fields</b>&#8221; or <br>the &#8220;<b>Company</b>&#8221;). For your convenience, each comment is repeated below, prior to the response. <br>Management has discussed the content of this letter (the &#8220;<b>Response Letter</b>&#8221;) with its auditors. </font></DIV>
<DIV style="position: absolute; top: 636; left: 91; width: 667; height: 22">Form 20-F for the Fiscal Year Ended June 30, 2006 </DIV>
<DIV style="position: absolute; top: 663; left: 91; width: 667; height: 21">Results of Operations &#8211; Years Ended June 30, 2006 and 2005, page 145 </DIV>
<DIV style="position: absolute; top: 689; left: 91; width: 667; height: 21">Depreciation and Amortization, page 150 </DIV>
<DIV style="position:absolute;top:718;left:91 ">1. </DIV>
<DIV style="position:absolute;top:718;left:127"><font style="line-height:17px;">We note you intend to revise your critical accounting policies discussion in response to our prior <br>comment 2 in our letter dated July 3, 2007. Please expand your proposed critical accounting <br>policies discussion to add your response to point (c) of our prior comment 2, namely your <br>statement that all changes expected to have a material impact on DD&amp;A and reserves are <br>incorporated in DD&amp;A calculations as soon as they become known. In addition, provide similar <br>disclosure within your footnotes to your financial statements.  </font></DIV>
<DIV style="position:absolute;top:833;left:127"><i><b>Response </b></i></DIV>
<DIV style="position:absolute;top:860 ;left:127"><font style="line-height:17px;">The Company acknowledges the Staff&#8217;s comment and proposes to amend its 2006 Form 20-F <br>to expand its discussion of critical accounting policies under Item 5 as follows (text shown in <br><i>Italics</i> highlights the change from the Company&#8217;s previous response):  </font></DIV>
<DIV style="position:absolute;top:922 ;left:127"> </DIV>
</DIV>
</FONT><FONT style="font-family:arial;font-size:8.5pt;color:#000000;"><DIV style="position:relative;width:758;height:1073;page-break-before:always;">
<IMG style="position:absolute;top:-1073;clip:rect(1073,758,2146,0)" src="goldfields_response001n.gif" alt="background image">
<DIV style="position:absolute;top:1027;left:91 "><font style="font-size:6.8pt;"> </font></DIV>
<DIV style="position:absolute;top:1027;left:662"><font style="font-size:6.8pt;">2</font></DIV>
<DIV style="position:absolute;top:132;left:155">&#8220;<b><i>Depreciation, depletion and amortization of mining assets </b></i></DIV>
<DIV style="position:absolute;top:155;left:155"><font style="line-height:13px;">Depreciation, depletion and amortization charges are calculated using the units of production method <br>and are based on Gold Fields&#8217; current gold production as a percentage of total expected gold production <br>over the lives of Gold Fields&#8217; mines. An item is considered to be produced at the time it is removed from <br>the mine. The lives of the mines are estimated by Gold Fields&#8217;  <i>mineral resources  </i>department using <br>interpretations of mineral reserves, as determined in accordance with the SEC&#8217;s industry guide number <br>7.  </font></DIV>
<DIV style="position:absolute;top:249;left:155"><font style="line-height:13px;">Depreciation, depletion and amortization at Gold Fields&#8217; South African operations (which are long-life <br>mines ranging from 13 to 28 years), are calculated using above-infrastructure proven and probable <br>reserves only, which because of their reserve base and respective long lives, are less sensitive to <br>change in reserve assumptions. Accordingly, at these locations, it is the Company&#8217;s policy to update its <br>depreciation, depletion and amortization calculations only once the new ore reserve declarations have <br>been approved by  Gold Field&#8217;s Board. However, if  Gold Fields&#8217;<i> management  </i>becomes aware of <br>significant changes in its above-infrastructure reserves ahead of the scheduled updates, <i>management <br></i>would not hesitate to <i>immediately</i> update its depreciation, depletion and amortization calculations <i>and <br>then subsequently notify</i> the Company&#8217;s Board.  </
font></DIV>
<DIV style="position:absolute;top:385;left:155"><font style="line-height:13px;">A similar approach is followed at Gold Fields&#8217; operations in Ghana, due to the longer-life of the primary <br>orebody. At Gold Fields&#8217; Australian operations, where mine-life ranges from two to four years, proven <br>and probable reserves used for the calculation of depreciation, depletion and amortization are  more <br>susceptible to changes in reserve estimates. At these locations, Gold Fields&#8217; depreciation, depletion and <br>amortization calculations are updated on a more regular basis (at least quarterly) for all known changes <br>in proven and probable reserves.  The nature of the orebody, and the on-going information being <br>gathered in connection with the orebody, facilitates these updates.  </font></DIV>
<DIV style="position:absolute;top:493;left:155"><font style="line-height:13px;">The estimates of the total expected future lives of Gold Fields&#8217; mines could be different from the actual <br>amount of gold mined in the future and the actual lives of the mines due to changes in the factors used <br>in determining Gold Fields&#8217; mineral reserves. Changes in management&#8217;s estimates of the total expected <br>future lives of Gold Fields&#8217; mines would  therefore  impact the  depreciation, depletion and amortization <br>charge recorded in Gold Fields&#8217; consolidated financial statements. <i>Changes due  to acquisitions, sales <br>or  closures  of  shafts expected to have a material impact on Gold Fields&#8217; depreciation, depletion and <br>amortization calculations, are incorporated in those calculations as soon as they become known</i>.&#8221;</font></DIV>
<DIV style="position:absolute;top:577;left:593"><font style="font-size:9pt;">   </font></DIV>
<DIV style="position: absolute; top: 602; left: 127; width: 615; height: 32"><font style="font-size:10.2pt;line-height:20px;">The Company will also include the following disclosures as part of its DD&amp;A accounting policy <br>on page F-9 (text shown in <i>Italics</i> highlights the change from its current policy): </font></DIV>
<DIV style="position:absolute;top:646;left:127"><font style="font-size:13.6pt;"> </font></DIV>
<DIV style="position:absolute;top:663;left:155"><font style="line-height:13px;">&#8220;(iv)  <b>AMORTIZATION AND DEPRECIATION OF MINING ASSETS</b>: Mining assets, mine development <br>and evaluation costs, and mine plant facilities are amortized over the life of mine using the units-of-<br>production method, based on estimated above infrastructure proven and probable ore reserves. Proven <br>and probable ore reserves reflect estimated quantities of economically recoverable reserves, which can <br>be recovered in future from known mineral deposits.  <i>At the  Group&#8217;s South African operations, its <br>amortization and depreciation calculations are generally based on the Group&#8217;s most recent life-of-mine <br>plan and annual above-infrastructure reserve declarations as approved by the Company&#8217;s. However, if <br>management becomes aware of significant changes in its above-infrastructure reserves ahead of the <br>scheduled updates, management would not hesitate to immediately update its amortizat
ion and <br>depreciation calculations and then subsequently notify the  Company&#8217;s Board.. A similar approach is <br>followed at  the Group&#8217;s  operations in Ghana, due to the longer-life of the primary orebody. At  the <br>Group&#8217;s other international  operations,  such as Australia, the Group&#8217;s amortization and  depreciation <br>calculations are updated on a more regular basis during the year for all known changes in proven and <br>probable reserves. The nature and life-span of the orebody, and the on-going information gathered in <br>connection with the orebody, facilitates these more frequent updates.&#8221;</i> </font></DIV>
</DIV>
</FONT><FONT style="font-family:arial;font-size:9pt;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="goldfields_response001n.gif" alt="background image">
<DIV style="position:absolute;top:35;left:667"><font style="font-size:13.6pt;"> </font></DIV>
<DIV style="position:absolute;top:1017;left:91 "><font style="font-size:6.8pt;line-height:12px;"> <br> </font></DIV>
<DIV style="position:absolute;top:1017;left:662"><font style="font-size:6.8pt;">3</font></DIV>
<DIV style="position: absolute; top: 131; left: 91; width: 667; height: 20">Financial Statements </DIV>
<DIV style="position: absolute; top: 156; left: 91; width: 667; height: 21">Note 2 &#8211; Significant Accounting Policies, page F-7 </DIV>
<DIV style="position: absolute; top: 184; left: 91; width: 667; height: 21">(d) Property, Plant and Equipment, page F-8 </DIV>
<DIV style="position:absolute;top:212;left:91 ">2. </DIV>
<DIV style="position:absolute;top:212;left:127"><font style="line-height:17px;">We note your response to prior comment 3 in our letter dated July 3, 2007. As previously <br>requested, please add this response to your disclosure under point (i). With regard to the last <br>paragraph of your response, please further clarify the extent to which you capitalize costs of <br>upgrading resources from one category to the other and for costs of converting resources to <br>proven and probable reserves when these resources are adjacent to but not within proven and <br>probable reserves and are expected to be encompassed within a mine site for which you have <br>established a final feasibility study.  </font></DIV>
<DIV style="position:absolute;top:345;left:127"><i><b>Response</b></i> </DIV>
<DIV style="position:absolute;top:372;left:127"><font style="line-height:17px;">With regards to the last portion of the Staff&#8217;s comment, the Company wishes to advise the Staff <br>that the  costs  of drilling and other activities  incurred with the  <i>objective</i> of  converting <br>&#8220;Measured&#8221;, &#8220;Indicated&#8221; and &#8220;Inferred&#8221; resources to proven or probable reserves, as well as for <br>upgrading resources from one category to another, even when the resources are  adjacent to <br>but not within proven and probable reserves and are expected to be encompassed within a <br>mine site for which the Company has already established a feasibility study, are expensed as <br>incurred.  However, once  these resources have been converted to proven and probable <br>reserves, the costs of &#8220;in-fill&#8221; or reserve definition drilling incurred to prospectively develop the <br>property are capitalized as mine development costs. </font></DIV>
<DIV style="position:absolute;top:540;left:127"><font style="line-height:17px;">At the Company&#8217;s Australian  surface  operations, the costs of drilling necessary to  upgrade <br>resources  from one category to another  or to  convert resources to proven and probable <br>reserves when those resources are adjacent to, but not within, proven and probable reserves <br>have therefore been expensed as incurred. </font></DIV>
<DIV style="position:absolute;top:619;left:127"><font style="line-height:17px;">The Company&#8217;s  South African operations, however,  are all deep, well established mines with <br>extensive drilling and sampling data within the boundaries of the mining lease areas. <br>Consequently, the declared resources for all of the primary economic reef horizons are <br>currently classified as Indicated  or  Measured  resources (there are currently  no Inferred <br>resources). These resources  are converted to reserves where they are supported by mine <br>plans, together with consideration of technical and economic modification factors.  All of the <br>surface drilling and long inclined underground boreholes for periods included in the Company&#8217;s <br>2006 Form 20-F (the three years ended June 30, 2006) have been &#8220;in-fill&#8221; or reserve definition <br>drilling, which  is designed to provide better resolution of the structural and sedimentological <br>features,  in turn  increasing the local knowledge and
 hence confidence in the mine planning. <br>These costs are capitalized as part of mine development costs. However, unlike the Company&#8217;s <br>surface operations in Australia, the Company may be targeting proven and probable reserves at <br>depths ranging from 2,000 meters to 4,000 meters and as a  result, gather data which leads to <br>the conversion of resources adjacent to, but not within, proven and probable reserves. Thus, <br>while the objective of surface borehole drilling is targeting the primary economic conglomerate <br>comprising existing proven and probable reserves, it may also facilitate the assessment of other <br>secondary reefs at the same time. All of the &#8220;in-fill&#8221; or reserve definition drilling costs are <br>capitalized on the basis that they are incurred primarily for purposes of further defining existing <br>proven and probable reserves (mine development costs).  </font></DIV>
</DIV>
</FONT><FONT style="font-family:arial;font-size:9pt;color:#000000;"><DIV style="position:relative;width:758;height:1073;page-break-before:always;">
<IMG style="position:absolute;top:-3219;clip:rect(3219,758,4292,0)" src="goldfields_response001n.gif" alt="background image">
<DIV style="position:absolute;top:1027;left:91 "><font style="font-size:6.8pt;"> </font></DIV>
<DIV style="position:absolute;top:1027;left:662"><font style="font-size:6.8pt;">4</font></DIV>
<DIV style="position: absolute; top: 67; left: 127; width: 631; height: 140"><font style="line-height:17px;">In summary, the costs incurred for  <i>purposes</i> of upgrading resources from one category to <br>another or for <i>purposes</i> of upgrading resources to proven and probable reserves are expensed <br>as incurred. When it has been determined that a property can be economically developed as a <br>result of establishing proven and probable reserves, costs incurred  for  <i>purposes</i> of further <br>defining proven and probable reserves are capitalized as mine development costs. </font></DIV>
<DIV style="position: absolute; top: 163; left: 127; width: 631; height: 126"><font style="line-height:17px;">In response to the Staff&#8217;s comment in this letter, as well as the letter dated July 3, 2007, the <br>Company proposes to revise its accounting policies for property, plant and equipment on pages <br>F-8 and F-9 of its 2006 Form 20-F as follows (text shown in <i>Italics</i> highlights the changes from <br>its current policies): </font></DIV>
<DIV style="position: absolute; top: 239; left: 155; width: 603; height: 98"><font style="font-size:8.5pt;line-height:16px;">&#8220;(i) <b>MINING ASSETS</b>:   Mining assets, including mine development costs and mine plant facilities, are <br>recorded at cost. </font></DIV>
<DIV style="position: absolute; top: 280; left: 155; width: 603; height: 332"><font style="font-size:8.5pt;line-height:16px;">Once an economically feasible orebody with proven and probable ore reserves has been established, <br>expenditure incurred to further develop the orebody, to further define mineralization in the orebody, and <br>to establish or expand productive capacity, are capitalized until more than de minimus saleable minerals <br>are extracted from the mine, at which time the costs are amortized as set out below. Development of <br>orebodies includes the development of shaft systems and waste rock removal. These costs are <br>capitalized until the reef horizons are intersected and more than de minimus saleable minerals are <br>extracted from the mine.  <i>The determination of whether the costs incurred will establish or expand <br>productive capacity (and therefore embody a probable future benefit), will depend upon the data that <br>has previously been gathered in connection with the orebody th
rough soil sampling, geo-physics, <br>mapping and drilling. The uncertainty  as to whether the costs  will establish or expand productive <br>capacity,  at the time of incurring the cost, will generally be diminished as a result of previously <br>established proven (where the size, shape, depth and mineral content of reserves are well-established) <br>and probable (where the degree of assurance, although lower than that for proven reserves, is high <br>enough to assume continuity between points of observation) reserves. Therefore, where proven and <br>probable reserves have already been established, there is generally a high degree of confidence <br>(&#8220;probable&#8221;) that the costs will establish or expand productive capacity.</i>  Access to the individual <br>orebodies exploited by the Company is limited to the time span of the Company&#8217;s respective mining <br>leases. Mine development costs in the ordinary course to maintain production are expensed as <br>incurred. </font></DIV>
<DIV style="position: absolute; top: 594; left: 155; width: 603; height: 72"><font style="font-size:8.5pt;line-height:16px;">Borrowing costs incurred in respect of assets requiring a substantial period of time to prepare for their <br>intended future use are capitalized to the date on which the assets are substantially completed and <br>ready for their intended use. </font></DIV>
<DIV style="position: absolute; top: 656; left: 155; width: 603; height: 118"><font style="font-size:8.5pt;line-height:16px;">(vii)  <b>MINING EXPLORATION</b>:   Expenditure on exploration activities is  <i>expensed as incurred</i>.  <i>Such <br>expenditure includes the costs  incurred for purposes  of upgrading resources from one category to <br>another or for purposes of upgrading resources to proven and probable reserves, even when in close <br>proximity to the Company&#8217;s development and production stage properties</i>. <i>When it has been determined <br>that a property can be economically developed as a result of establishing proven and probable <br>reserves, costs incurred prospectively  to  develop the property are capitalized as mine development <br>costs.</i>&#8221; </font></DIV>
<DIV style="position: absolute; top: 782; left: 91; width: 667; height: 30">Supplemental information </DIV>
<DIV style="position: absolute; top: 816; left: 91; width: 667; height: 91"><font style="line-height:17px;">Pursuant to a request from the Staff, Gold Fields hereby acknowledges (i) it is responsible for the <br>adequacy and accuracy of the disclosures in the filing, (ii) Staff comments or changes to disclosure in <br>response to Staff comments do not foreclose the Commission from taking any action with respect to <br>the filing and (iii) it may not assert Staff comments as a defense in any proceeding initiated by the <br>Commission or any person under the federal securities laws of the United States. </font></DIV>
<DIV style="position: absolute; top: 915; left: 331; width: 427; height: 25"><b>*     *     *     *     *</b> </DIV>
</DIV>
</FONT><FONT style="font-family:arial;font-size:9pt;color:#000000;"><DIV style="position:relative;width:758;height:1073;page-break-before:always;">
<IMG style="position:absolute;top:-4292;clip:rect(4292,758,5365,0)" src="goldfields_response001n.gif" alt="background image">
<DIV style="position:absolute;top:1027;left:91 "><font style="font-size:6.8pt;"> </font></DIV>
<DIV style="position:absolute;top:1027;left:662"><font style="font-size:6.8pt;">5</font></DIV>
<DIV style="position:absolute;top:132;left:91 "><font style="line-height:17px;">Should you or the Staff have any questions or require any additional information, please contact the <br>undersigned at +27 11 644 2502 or via e-mail at nholland@goldfields.co.za.  </font></DIV>
<DIV style="position:absolute;top:176;left:91 "><font style="line-height:17px;"> <br>Yours sincerely, </font></DIV>
<DIV style="position:absolute;top:212;left:91 "><font style="font-size:13.6pt;line-height:20px;"> <br> <br> </font></DIV>
<DIV style="position: absolute; top: 263; left: 98; width: 660; height: 62"><font style="line-height:14px;">/s/ NICHOLAS J.
  HOLLAND  <br> <br>Nicholas J. Holland <br>Chief Financial Officer<br>
  Gold Fields Limited <br> </font></DIV>
<DIV style="position:absolute;top:338;left:367"> </DIV>
<DIV style="position:absolute;top:352;left:91 ">cc: </DIV>
<DIV style="position:absolute;top:352;left:137">Lily Dang, Securities and Exchange Commission </DIV>
<DIV style="position:absolute;top:367;left:135"><font style="line-height:14px;">Jenifer Gallagher, Securities and Exchange Commission <br>Ken Schuler, Securities and Exchange Commission <br>Michael Fleischer, Gold Fields Limited <br>Paul Schmidt, Gold Fields Limited <br>Jennifer Schneck, Linklaters <br> <br> <br> <br> <br> <br> </font></DIV>
<DIV style="position:absolute;top:528;left:91 "> </DIV>
</DIV>
</FONT></BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>goldfields_response001n.gif
<TEXT>
begin 644 goldfields_response001n.gif
M1TE&.#EA]@+U%/<``````(````"``("`````@(``@`"`@("`@,#`P/\```#_
M`/__````__\`_P#______P``````````````````````````````````````
M````````````````````````````````````````````````````````````
M````,P``9@``F0``S```_P`S```S,P`S9@`SF0`SS``S_P!F``!F,P!F9@!F
MF0!FS`!F_P"9``"9,P"99@"9F0"9S`"9_P#,``#,,P#,9@#,F0#,S`#,_P#_
M``#_,P#_9@#_F0#_S`#__S,``#,`,S,`9C,`F3,`S#,`_S,S`#,S,S,S9C,S
MF3,SS#,S_S-F`#-F,S-F9C-FF3-FS#-F_S.9`#.9,S.99C.9F3.9S#.9_S/,
M`#/,,S/,9C/,F3/,S#/,_S/_`#/_,S/_9C/_F3/_S#/__V8``&8`,V8`9F8`
MF68`S&8`_V8S`&8S,V8S9F8SF68SS&8S_V9F`&9F,V9F9F9FF69FS&9F_V:9
M`&:9,V:99F:9F6:9S&:9_V;,`&;,,V;,9F;,F6;,S&;,_V;_`&;_,V;_9F;_
MF6;_S&;__YD``)D`,YD`9ID`F9D`S)D`_YDS`)DS,YDS9IDSF9DSS)DS_YEF
M`)EF,YEF9IEFF9EFS)EF_YF9`)F9,YF99IF9F9F9S)F9_YG,`)G,,YG,9IG,
MF9G,S)G,_YG_`)G_,YG_9IG_F9G_S)G__\P``,P`,\P`9LP`F<P`S,P`_\PS
M`,PS,\PS9LPSF<PSS,PS_\QF`,QF,\QF9LQFF<QFS,QF_\R9`,R9,\R99LR9
MF<R9S,R9_\S,`,S,,\S,9LS,F<S,S,S,_\S_`,S_,\S_9LS_F<S_S,S___\`
M`/\`,_\`9O\`F?\`S/\`__\S`/\S,_\S9O\SF?\SS/\S__]F`/]F,_]F9O]F
MF?]FS/]F__^9`/^9,_^99O^9F?^9S/^9___,`/_,,__,9O_,F?_,S/_,____
M`/__,___9O__F?__S/___R'Y!`$``!``+`````#V`O44``C_`/\)'$BPH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/($.*'$FRI,F3*%.J7,FRI<N7
M,&/*G$FSILV;.'/JW,FSI\^?0(,*'4JTJ-&C2),J7<JTJ=.G4*-*G4JUJM6K
M6+-JW<JUJ]>O8,.*'4NVK-FS:-.J7<NVK=NW<./*G4NWKMV[>//JW<NWK]^_
M@`,+'DRXL.'#B!,K7LRXL>/'D"-+GDRYLN7+F#-KWLRYL^?/H$.+'DVZM.G3
MJ%.K7LVZM>O7L&/+GDV[MNW;N'/KWLV[M^_?P(,+'TZ\N/'CR),K7\Z\N?/G
MT*-+GTZ]NO7KV+-KW\Z]N_?OX,.+_Q]/OKSY\^C3JU_/OKW[]_#CRY]/O[[]
M^_CSZ]_/O[___P`&*."`!!9HX($()JC@@@PVZ."#$$8HX8045FCAA1AFJ.&&
M'';HX8<@ABCBB"26:.*)**:HXHHLMNCBBS#&*..,--9HXXTXYJCCCCSVZ../
M0`8IY)!$%FGDD4@FJ>223#;IY)-01BGEE%16:>656&:IY99<=NGEEV"&*>:8
M9)9IYIEHIJGFFFRVZ>:;<,8IYYQTUFGGG7CFJ>>>?/;IYY^`!BKHH(06:NBA
MB":JZ**,-NKHHY!&*NFDE%9JZ:689JKIIIQVZNFGH(8JZJBDEFKJJ:BFJNJJ
MK+;JZJNPQO\JZZRTUFKKK;CFJNNNO/;JZZ_`!BOLL,06:^RQR":K[++,-NOL
ML]!&*^VTU%9K[;789JOMMMQVZ^VWX(8K[KCDEFONN>BFJ^ZZ[+;K[KOPQBOO
MO/36:^^]^.:K[[[\]NOOOP`'+/#`!!=L\,$()ZSPP@PW[/##$$<L\<045VSQ
MQ1AGK/'&''?L\<<@ARSRR"27;/+)**>L\LHLM^SRRS#'+//,--=L\\TXYZSS
MSCSW[///0`<M]-!$%VWTT4@GK?323#?M]--01RWUU%17;?756&>M]=9<=^WU
MUV"'+?;89)=M]MEHIZWVVFRW[?;;<,<M]]QTUVWWW7CGK??>?/?_[???@`<N
M^."$%V[XX8@GKOCBC#?N^..01R[YY)17;OGEF&>N^>:<=^[YYZ"'+OKHI)=N
M^NFHIZ[ZZJRW[OKKL,<N^^RTUV[[[;CGKOONO/?N^^_`!R_\\,07;_SQR">O
M_/+,-^_\\]!'+_WTU%=O_?789Z_]]MQW[_WWX(<O_OCDEV_^^>BGK_[Z[+?O
M_OOPQR___/37;__]^.>O__[\]^___P`,H``'2,`"&O"`"$R@`A?(P`8Z\($0
MC*`$)TC!"EKP@AC,H`8WR,$.>O"#(`RA"$=(PA*:\(0H3*$*5\C"%KKPA3",
MH0QG2,,:VO"&.,RA#G?(PQ[Z\(=`#*(0_X=(Q"(:\8A(3*(2E\C$)CKQB5",
MHA2G2,4J6O&*6,RB%K?(Q2YZ\8M@#*,8QTC&,IKQC&A,HQK7R,8VNO&-<(RC
M'.=(QSK:\8YXS*,>]\C'/OKQCX`,I"`'2<A"&O*0B$RD(A?)R$8Z\I&0C*0D
M)TG)2EKRDIC,I"8WR<E.>O*3H`RE*$=)RE*:\I2H3*4J5\G*5KKRE;",I2QG
M2<M:VO*6N,RE+G?)RU[Z\I?`#*8PATG,8AKSF,A,IC*7R<QF.O.9T(RF-*=)
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MKGB]JU[S6M9Q3O6O@`VL8`=+V,(:]K"(3:QB%\O8QCKVL9_T@V0G2]G*6O:R
MF,VL9C?+V<YZ]K.@#:UH1TM:TD)LHZA-K6I7R]K6NK:A?H6L;&=+V]K_VO:V
MN,VM;G?+V][Z]K?`#:YPATO<XAKWN,A-KG*7R]SF.O>YT(VN=*=+W>I:][K8
MS:YVM\O=[GKWN^`-KWC'2][RFO>\Z$VO>M?+WO:Z][WPC:]\YTO?^MKWOOC-
MKW[WR]_^^O>_``ZP@`=,X`(;^,`(3K""%\S@!COXP1".L(2WF8HI6/C"&,ZP
MAC?,X0Y[.,,=O5TJ7KO:*4SXQ"A.L8I7S.(6N_C%,(ZQC&=,XQK;^,8XSK&.
M=\SC'OOXQT`.LI"'3.0B&_G(2$ZRDI?,Y"8[^<E0CK*4ITSE*EOYREC.LI:W
MS.4N>_G+8`ZSF,=,YC*;^<QH3K.:U\SF-KOY_\UPCK.<YTSG.MOYSKN5[!3\
ML.<^\_G/?@XTH`<MZ$(3^M"&3C2B%ZWH1C/ZT8Z.-*0G+>E*4_K2ELXTIC>M
MZ4YS^M.>#C6H1RWJ4I/ZU*9.-:I7K>I6+[HEY:1&K&=-3EG7FM:RQK6M<WWK
M7O/ZU[L.MJZ'[6MA%YO8P$:VL9-][&8S^]G+CK:RI^UL:5>;VM#&MK6S?>UN
M<_O;VPZWML?M;7&7F]S@1K>YTWWN=K/[W>N.M[KG[6YKX_G>^,ZWOO?-[W[[
M^]\`#[C`!T[P@AO\X`A/N,(7SO"&._SA$(^XQ"=.\8I;_.(8S[C&-\[QCGO\
MXR`/N<A'3O*2F_SD*/]/N<I7SO*6N_SE,(^YS&=.\YK;_.8XS[G.=\[SGOO\
MYT`/NM"'3O2B&_WH2$^ZTI?.]*8[_>E0C[K4IT[UJEO]ZEC/NM:WSO6N>_WK
M8`^[V,=.]K*;_>QH3[O:U\[VMKO][7"/N]SG3O>ZV_WN>,^[WO?.][[[_>^`
M#[S@!T_XPAO^\(A/O.(7S_C&._[QD(^\Y"=/^<I;_O*8S[SF-\_YSGO^\Z`/
MO>A'3_K2F_[TJ$^]ZE?/^M:[_O6PC[WL9T_[VMO^]KC/O>YWS_O>^_[WP`^^
M\(=/_.(;__C(3[[RE\_\YCO_^="/OO2G3_WJ6__ZV,^^]K?/_>Y[__O@#[__
M^,=/_O*;__SH3[_ZU\_^]KO__?"/O_SG3__ZV__^^,^__O?/__[[__\`&(`"
M.(`$6(`&>(`(F(`*N(`,V(`.^(`0&($2.($46($6>($8F($:N($<V($>^($@
M&((B.((D6((F>((HF((JN((LV((N^((P&(,R.(,T6(,V>(,XF(,ZN(,\V(,^
M^(-`&(1".(1$6(1&>(1(F(1*N(1,V(1.^(10&(52.(546(56>(58F(5:N(5<
MV(5>^(5@&(9B.(9D6(9F>(9HF(9JN(9LV(9N^(9P&(=R.(=T6(=V>(=XF(=Z
MN(=\V(=^^(>`&(B".(B$6(B&>(B(F(B*N(B,V(B.__B(D!B)DCB)E%B)EGB)
MF)B)FKB)G-B)GOB)H!B*HCB*I%B*IGB*J)B*JKB*K-B*KOB*L!B+LCB+M%B+
MMGB+N)B+NKB+O-B+OOB+P!B,PCB,Q%B,QGB,R)B,RKB,S-B,SOB,T!B-TCB-
MU%B-UGB-V)B-VKB-W-B-WOB-X!B.XCB.Y%B.YGB.Z)B.ZKB.[-B.[OB.\!B/
M\CB/]%B/]GB/^)B/^KB/_-B/_OB/`!F0`CF0!%F0!GF0")F0"KF0#-F0#OF0
M$!F1$CF1%%F1%GF1&)F1&KF1'-F1'OF1(!F2(CF2)%F2)GF2*)F2*KF2+-F2
M+OF2,!F3,CF3-%F3-GF3./^9DSJYDSS9DS[YDT`9E$(YE$19E$9YE$B9E$JY
ME$S9E$[YE%`9E5(YE519E59YE5B9E5JYE5S9E5[YE6`9EF(YEF19EF9YEFB9
MEFJYEFS9EF[YEG`9EW(YEW19EW9YEWB9EWJYEWS9EW[Y,JX6F*PVF(86.`)U
MF`.%F(J9F.OTEX[YF)`9F9(YF919F99)'*E`#9FYF9K9F9SYF9X9FJ`YFJ)9
MFJ1YFJ:9FJBYFJK9FJSYFJX9F[`YF[)9F[1YFZFY+=1`8KS9F[[YF\`9G*W%
M+:E0G,9YG,B9G,JYG,S9G,[YG-`9G=(YG=19G=9YG=B9G=J9G)?9G=[YG>`9
MGN+_.9[D*96Q11#G.1#I*1#K>4X&T9[P>1#Q^9[R69_T>9\%,9_Y:9_[B9_H
MR9__Z9_J":`#*J#L2:#]\F$*NJ`,VJ`.^J`0&J$2.J$46J$6BF$A5IX:NJ$<
MVJ$>^J$@&J(B.J(D6J(F>J(HFJ(JNJ(LVJ(N^J(P&J,R.J,T6J,V>J,XFJ,Z
MNJ,\VJ,^^J-`&J1".J1$6J1&>J1(FJ1*NJ1,VJ1.^J10&J52.J546J56&G"@
M*6M96II:&II=RIE?VIEAFIEAVIZQ,V+":5$96CN:&5+%"5)O:IQPZJ9T.J=V
M*J=X&J=Z6J?%>:5^^J>`&JB".JB$6JB&>JB(FJB*NJB,_]JHCOJHD!JIDCJI
ME%JIEGJIF)JIFKJIG-JIGOJIH!JJHCJJI%JJIGJJJ)JJJKJJK-JJKOJJL!JK
MLCJKM%JKMGJKN)JKNKJKO-JKOOJKP!JLPCJLQ%JLQGJLR)JLRKJLS-JLSOJL
MT!JMTCJMU%JMUGJMV)JMVKJMW-JMWOJMX!JNXCJNY%JNYGJNZ)JNZKJN[-JN
M[OJN\!JO\CJO]%JO]GJO^)JO^KJO_-JO_OJO`!NP`CNP!%NP!GNP")NP"KNP
M#-NP#ONP$!NQ$CNQ%%NQ%GNQ&)NQ&KNQ'-NQ'ONQ(!NR(CNR)%NR)GNR*)NR
M*KNR+-NR+ONR,!NS,CNS-%NS-O][LSB;LSJ[LSS;LS[[LT`;M$([M$1;M$9[
MM$B;M$J[M$S;M$[[M%`;M5([M51;M59[M5B;M5J[M5S;M5[[M6`;MF([MF1;
MMF9[MFB;MFJ[MFS;MF[[MG`;MW([MW1;MW9[MWB;MWJ[MWS;MW[[MX`;N(([
MN(1;N(9[N(B;N(J[N(S;N([[N)`;N9([N91;N99[N9B;N9J[N9S;N9[[N:`;
MNJ([NJ1;NJ9[NJB;NJJ[NJS;NJ[[NK`;N[([N[1;N[9[N[B;N[J[N[S;N[[[
MN\`;O,([O,1;O,9[O,B;O,J[O,S;O,[[O-`;O=([O=1;O=9[O=B;O=J[O=S;
MO=[[O>#_&[[B.[[D6[[F>[[HF[[JN[[LV[[N^[[P&[_R.[_T6[_V>[_XF[_Z
MN[_\V[_^^[\`',`"/,`$7,`&?,`(G,`*O,`,W,`._,`0',$2/,$47,$6?,$8
MG,$:O,$<W,$>_,$@',(B/,(D7,(F?,(HG,(JO,(LW,(N_,(P',,R/,,T7,,V
M?,,XG,,ZO,,\W,,^_,-`',1"/,1$7,1&?,1(G,1*O,1,W,1._,10',52/,54
M7,56?,58G,5:O,5<W,5>_,5@',9B/,9D7,9F?,9HG,9JO,9LW,9N_,9P',=R
M/,=T7,=V?,=XG,=ZO,=\W,=^_,>`',B"/,B$C(&[F::(G,@4_V6F72.8CDR8
MD*QJC%S(E%S)EGS)F)S)FKS)G-S)GOS)H!S*HCS*I%S*IGS*J)S*JKS*K-S*
MKOS*L!S+LCS+M%S+MGS+N)S+NKS+O-S+OOS+P!S,PCS,Q%S,QGS,R)S,RKS,
MS-S,SOS,T!S-TCS-U%S-UGS-V)S-VKS-W-S-WOS-X!S.XCS.Y%S.YGS.Z)S.
MZKS.[-S.[OS.\!S/\CS/]%S/]GS/^)S/^KS/_-S/_OS/`!W0`CW0!%W0!GW0
M")W0"KW0#-W0#OW0$!W1$CW1%%W1%GW1&)W1&KW1'-W1'OW1(!W2(CW2)%W2
M)GW2*)W2*KW2+-W2+OW2,!W3,CW3-/]=TS8M?XN9TXRITSR]TS[M3E1359$\
MU(]<U$0]R3>=U$J]U$S=U$[]U%`=U5(]U51=U59]U5B=U5J]U5S=U5[]U6`=
MUF(]UF1=UF9]UFB=UFJ]UFS=UF[]UG`=UW(]UW1=UW9]UWB=UWJ]UWS=UW[]
MUX`=V((]V(1=V(9]V(B=V(J]V(S=V([]V)`=V9(]V91=V99]V9B=V9J]V9S=
MV9[]V:`=VJ(]VJ1=VJ9]VJB=VJJ]VJS=VJ[]VK`=V[(]V[1=V[9]V[B=V[J]
MV[S=V[[]V\`=W,(]W,1=W,9]W,B=W,J]W,S=W,[]W-`=W=(]W=1=W=9]W=B=
MW=J]W=S=W=YK_=W@'=[B/=[D7=[F?=[HG=[JO=[LW=[N_=[P'=_R/=_T7=_V
M?=_XG=_ZO=_\W=_^_=\`'N`"/N`$7N`&?N`(GN`*ON`,WN`._N`0'N$2/N$4
<7N$6?N$8GN$:ON$<WN$>_N$@'N(B/N++%!``.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
