Gold Fields, the world's fourth largest gold producer, has extended its offer to Western Areas shareholders by almost a month.

The new closing date of the all paper offer has been moved to lunchtime on Friday, 26 January next year from the previous closing data of 29 December.

Gold Fields said last week that it owned and had received acceptances representing 82 percent of Western Areas shares.

Gold Fields says it needs 94.1 percent of Western Areas to invoke Section 440k of the Companies Act, which allows it to "squeeze out" minority shareholders.

'Fund South Deep'

The company recently said shareholders must accept the offer or face the prospect of partially funding the South Deep mine's capital expenditure.

"Accordingly in the event that Gold Fields does not acquire 100 percent of Western Areas, the remaining shareholders of Western Areas would be asked to fund these cash requirements."

Harmony Gold and the Public Investment Corporation have already accepted the offer of 35 Gold Fields shares for every 100 Western Areas shares held.