Bloomberg News

Gold Fields Paid CEO Nick Holland 32.7 Million Rand Last Year

March 30, 2012

Gold Fields Ltd. (GFI), the fourth- biggest producer of the metal, paid Chief Executive Officer Nick Holland 32.7 million rand ($4.3 million) last year, two-thirds of that in bonus and share benefits.

Holland earned a salary of 7.5 million rand, the Johannesburg-based mine operator said today in an annual report on its website. Gold Fields, which changed its year-end to Dec. 31 from June 30 in 2010, paid Holland 6.6 million rand in the six months through December 2010, according to the report.

Gold Fields shares climbed 3.3 percent in 2011. Holland is seeking to boost production in Ghana, Australia and Peru while reducing fatalities and cost increases in South Africa, where labor and power expenses are rising faster than inflation. Gold is trading 12 percent lower than its record-high last May.

Barrick Gold Corp., Newmont Mining Corp. and AngloGold Ashanti Ltd. are the world’s largest gold producers.

To contact the reporter on this story: Jana Marais in Johannesburg at jmarais@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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