Gold Fields to Decide in January on Future of Uranium Unit

Gold Fields Ltd. (GFI), South Africa's second-largest gold producer, said it will decide in January whether to develop its uranium resources alone or with a partner, or to spin off the unit completely.

The deposits, which lie on the surface among gold-mining waste near the company's mines west of Johannesburg, contain about 38 million pounds of the nuclear fuel, Chief Executive Officer Nick Holland said today in an interview at the Denver Gold Show. Developing the deposit with a partner would allow Gold Fields to realize ``economies of scale,'' he said.

AngloGold Ashanti Ltd. (ANG), also based in Johannesburg, has deposits nearby, as does Toronto-based First Uranium Corp., he said.

To contact the reporter on this story: Stewart Bailey in New York at sbailey7@bloomberg.net.

To contact the editor responsible for this story: Kevin Orland at korland@bloomberg.net.

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