JOHANNESBURG, Jan. 18, 2012 /CNW/ - Gold Fields Limited (Gold Fields)
(JSE, NYSE, NASDAQ Dubai: GFI) has announced that attributable Group
production for the financial year ended December 2011 (FY 2011) is
expected to be 3.49 million gold equivalent ounces.
Total cash cost for FY 2011 is expected to be approximately US$800/oz
(R185,000/kg) and notional cash expenditure (NCE) approximately
US$1,180/oz (R275,000/kg), both of which are lower than the guidance
given on 10 November 2011 for total cash costs of US$810/oz
(R187,000/kg) and NCE of US$1,200/oz (R277,000/kg).
Group attributable production for the December quarter (Q4 2011) is
expected to be 883,000 gold equivalent ounces, which is 1.9% lower than
the previous quarter (Q3 2011: 900,000 gold equivalent ounces). The
lower production for Q4 2011 is as a result of production disruptions
in Ghana due to power outages and a slower milling rate at Tarkwa, due
to harder material associated with a change in the blend of material
fed to the plant. In the South Africa region production was impacted by
stop and fix interventions at Beatrix and a lower underground grade at
South Deep due to changes in the mining mix needed to increase
flexibility. Gold equivalent production at Cerro Corona, in Peru, was
adversely impacted by the lower copper price relative to the gold price
in Q4 2011.
Costs during the quarter were well contained with total cash cost
expected to be approximately US$770/oz (R200,000/kg) and NCE
approximately US$1,210/oz (R315,000/kg).
Gold Fields' quarterly results as well as results for the financial year
ended December 2011 will be released on Friday, 17 February 2012.
Notes to editors
About Gold Fields
Gold Fields is one of the world's largest unhedged producers of gold
with attributable annualised production of 3.5 million gold equivalent
ounces from eight operating mines in Australia, Ghana, Peru and South
Africa. Gold Fields also has an extensive and diverse global growth
pipeline with four major projects in resource development and
feasibility, with construction decisions expected in the next 18 to 24
months. Gold Fields has total attributable gold equivalent Mineral
Reserves of 76.7 million ounces and Mineral Resources of 225.4 million
ounces. Gold Fields is listed on the JSE Limited (primary listing), the
New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in
Brussels (NYX) and the Swiss Exchange (SWX).
Sponsor: J.P. Morgan Equities Limited
SOURCE Gold Fields Limited
For further information:
Gold Fields Limited
150 Helen Road,
Postnet Suite 252
Private Bag X30500
Fax : +27-11-562-9838