Johannesburg, South Africa — MININGREVIEW.COM — 08 January 2010 – Gold Fields Limited (Gold Fields) “’ the world’s second largest gold producer “’ has issued an updated production guidance for the second quarter of the 2010 financial year, reducing its production estimate for the period.
“Attributable production for Q2 F2010 is expected to be approximately 900 000oz, which is 2.8%, or 25 000 oz, lower than the previous guidance of 925 000oz, provided on 29 October 2009,” said a statement issued here. “The lower production is mainly as a result of seismic-related production stoppages experienced in South Africa,” it added.
“At the Driefontein mine in particular, seven days of production “’ or almost one third of the December production month “’ were lost due to a major seismic event which resulted in an extended search and rescue operation, as previously reported,” the statement continued.
“In line with the lower production, total cash costs and notional cash expenditure (NCE) for the group are expected to be approximately US$615/oz and US$900 respectively, which is approximately 4% and 3% higher than guidance,” it said.
The full results for the group will be published on Thursday, 4 February, 2010.