HomeGoldGold Fields expects rise in production

Gold Fields expects rise in production

Gold Fields
Limited’s South
Deep mine
Johannesburg, South Africa — MININGREVIEW.COM — 27 September 2010 – Gold Fields Limited “’ the world’s fourth-largest listed gold miner “’ has revealed that it expects attributable gold output for the September quarter of 2010 to rise above the previous three months production.

In a statement issued here, the company “’ which expected to report attributable gold production of around 906 000 ounces for the current quarter, compared with 898 000 ounces in the previous three months “’ added that it was on track to achieve its annual production guidance of 3.5 to 3.8 Moz..

“We are pleased with the progress we have made during the September quarter, and are on track to achieve our annual guidance for the 12 months to end of June 2011,” said CEO Nick Holland in the statement.

Production for the previous financial year to the end of June 2010 totalled 3.5Moz.

Gold Fields also forecast a rise in total cash cost for the quarter to around US$715/oz, up from US$688 an ounce in the previous three months, as a result of higher capital expenditure and increased electricity tariffs during the winter period.

The forecast is based on an exchange rate of R7.35 to the US dollar.