JOHANNESBURG, January 18, 2012 /PRNewswire/ —
Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) has announced that attributable Group production for the financial year ended December 2011 (FY 2011) is expected to be 3.49 million gold equivalent ounces.
Total cash cost for FY 2011 is expected to be approximately US$800/oz (R185,000/kg) and notional cash expenditure (NCE) approximately US$1,180/oz (R275,000/kg), both of which are lower than the guidance given on 10 November 2011 for total cash costs of US$810/oz (R187,000/kg) and NCE of US$1,200/oz (R277,000/kg).
Group attributable production for the December quarter (Q4 2011) is expected to be 883,000 gold equivalent ounces, which is 1.9% lower than the previous quarter (Q3 2011: 900,000 gold equivalent ounces). The lower production for Q4 2011 is as a result of production disruptions in Ghana due to power outages and a slower milling rate at Tarkwa, due to harder material associated with a change in the blend of material fed to the plant. In the South Africa region production was impacted by stop and fix interventions at Beatrix and a lower underground grade at South Deep due to changes in the mining mix needed to increase flexibility. Gold equivalent production at Cerro Corona, in Peru, was adversely impacted by the lower copper price relative to the gold price in Q4 2011.
Costs during the quarter were well contained with total cash cost expected to be approximately US$770/oz (R200,000/kg) and NCE approximately US$1,210/oz (R315,000/kg).
Gold Fields’ quarterly results as well as results for the financial year ended December 2011 will be released on Friday, 17 February 2012.
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 76.7 million ounces and Mineral Resources of 225.4 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
Gold Fields Limited
150 Helen Road,
Postnet Suite 252
Private Bag X30500
Fax : +27-11-562-9838
SOURCE Gold Fields Limited