Unlawful Strikes in South Africa Disrupt Production
JOHANNESBURG, Nov. 26, 2012 /CNW/ - Gold Fields Limited (NYSE & JSE, Nasdaq Dubai: GFI) today announced net earnings for the September quarter of R1,424 million compared with R1,606 million in the June quarter and R2,055 million in the September 2011 quarter. In US dollar terms net earnings for the September quarter were US$171 million, compared with US$198 million in the June quarter and US$293 million in the September 2011 quarter.
September 2012 quarter salient features:
- Production losses of 35,000 ounces due to illegal strike action at KDC and Beatrix;
- Underground fire at KDC West responsible for 30,000 ounces of lost production;
- Group attributable equivalent gold production of 811,000 ounces compared with 862,000 ounces in the June quarter;
- Total cash cost of US$916 per ounce and NCE of US$1,448 per ounce;
- Operating margin of 45 per cent and NCE margin of 13 per cent; and
- "24/7" arrangements and other operating improvements agreed at South Deep.
The full results are available on the Gold Fields website:
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 80.6 million ounces and Mineral Resources of 217 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