Gold Fields response to Carte Blanche programme on the South Deep empowerment transaction
Monday, 22 October 2012
Johannesburg, 22 October 2012: Gold Fields wishes to respond to the Carte Blanche programme on the South Deep Black Economic Empowerment Transaction aired on Sunday 21 October 2012 (see here).
The programme was filled with inaccuracies and innuendo and sought to discredit what has been broadly welcomed as a ground-breaking transaction.
Gold Fields would like to emphasise that the mineral rights obtained for South Deep were applied for and granted in accordance with the Mineral Resources and Petroleum Development Act (MPRDA). The DMR approved the application. The company complied with all the appropriate legal requirements in order to be granted the mineral rights.
The South Deep BEE deal was broad based in all aspects, giving a share of the company to employees, communities and a BEE consortium. This included a cross-section of historically disadvantaged South Africans from across the country, including youth, women, affected communities and employees as well as people who had contributed to the successful and peaceful transition of the country. The intent was also to benefit those who typically would not have been part of deals of this nature in the past.