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Gold Fields production rises

Gold Fields’ South
Deep twin shafts
at dusk
 
Johannesburg, South Africa — MININGREVIEW.COM — 30 March 2009 – Gold Fields Limited – Africa’s second- largest producer of the metal – has updated its operational guidance for the third quarter of its 2009 financial year – the three months ending tomorrow – and attributable production for the quarter is expected to increase by 4% to approximately 871 000 oz.

Publishing this information in a media release issued here, the company said that eight of its nine mines had increased production during the quarter. Total cash cost for the group was expected to improve by 3% to approximately US$470/oz and Notional Cash Expenditure (NCE1) by 13% to approximately US$670/oz.

The release added that attributable Q3 F2009 production from the Gold Fields South African mines was expected to increase by 3% to approximately 517 000 oz, compared with 501 000 oz achieved in  the previous quarter, with the individual mines expected to perform as follows:

  • Driefontein an 11% increase to approximately 215 000 oz;
  • Kloof a 15% increase to approximately 174 000 oz;
  • South Deep a 2% increase to approximately 48 000 oz; and
  • Beatrix a 25% decline to approximately 80 000 oz.

Production at the South African operations was expected to improve quarter on quarter as Kloof and Beatrix reached steady state and South Deep built up its production profile.

The release added that attributable Q3 F2009 production from its international mines was expected to increase by 4% to approximately 354 000 oz, compared with 338 000 oz achieved in Q2 F2009.

Gold Fields CEO Nick Holland said that further increases were expected in the quarters ahead.”

Detailed results for Q3 F2009 will be published on 7 May, 2009, at 08h00 South African time.

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