Gold Fields to Beat Guidance - Production Update for Quarter and Year Ended 31 December 2013
JOHANNESBURG, Jan. 21, 2014 /CNW/ - Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced that attributable Group production for the December 2013 quarter (Q4 2013) is expected to be approximately 598,000 gold-equivalent ounces, which is 21% higher than the 496,000 ounces achieved in the September 2013 quarter (Q3 2013). These results will include a maiden contribution of approximately 114,000 ounces for the December quarter from the newly acquired Yilgarn South assets in Western Australia.
Total cash costs for Q4 2013 is expected to be approximately US$780/oz, which is marginally higher than the US$772/oz achieved in Q3 2013, and notional cash expenditure (NCE) is expected to be approximately US$1,030/oz, 3% lower than the US$1,064/oz achieved in Q3 2013.
Attributable production for the full year 2013 is expected to be approximately 2,02 million ounces, with total cash cost of approximately US$810/oz, and NCE of approximately US$1,150/oz.
The production and cost results expected for 2013 are significantly better than the original guidance of between 1.83 and 1.90 million ounces of production, at cash costs of US$860/oz and NCE of US$ 1,360/oz, provided in February 2013, as well as the revised guidance of between 1.92 and 2.00 million ounces, at cash costs of US$830/oz and NCE of US$1,240/oz, provided on 20 November 2013, after the acquisition of the Yilgarn South assets.
Gold Fields' results for the quarter and year ended 31 December 2013 will be published on Thursday, 13 February 2014.
Notes to editors
About Gold Fields
Gold Fields Limited is an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa. In February 2013 Gold Fields unbundled its KDC and Beatrix mines in South Africa into an independent and separately listed company, Sibanye Gold. In October 2013 Gold Fields acquired Barrick's Granny Smith, Lawlers and Darlot Gold Mines in Western Australia. Gold Fields subsequently has attributable gold-equivalent annual production of approximately 2.2 million ounces, Mineral Reserves of approximately 60 million ounces and Mineral Resources of approximately 158 million ounces. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX).
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
SOURCE Gold Fields Limited