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Gold Fields (following the unbundling of Sibanye Gold) is a large unhedged producer of gold with attributable annual production of approximately 2 million gold ounces from six operating mines in Australia, Ghana, Peru and South Africa. The new Gold Fields also has an extensive and diverse global growth pipeline with four major projects in resource development and feasibility. The new Gold Fields has total attributable gold Mineral Reserves of 54.9 million ounces and Mineral Resources of 125.5 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). In February 2013, Gold Fields unbundled its KDC and Beatrix mines in South Africa into a separately listed company, Sibanye Gold. |
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Media ReleasesGold Fields Releases Production Guidance for Quarter ended 30 September 2005Monday,
Gold production has declined by approximately 8% to 993,000 ounces for the quarter. Between 3 and 4% of the decline is attributable to the strike experienced at the South African operations during the quarter. The balance is attributable to the international operations, reflecting comparison against out performance in the June quarter and short-term operational issues. Production at the South African operations declined by approximately 40,000 ounces to 647,000 ounces. Driefontein and Kloof performed largely as expected with both operations impacted by the strike and Kloof experiencing continuing grade problems. As expected Beatrix experienced haulage constraints at 20 level, 4 shaft, due to smectite problems flagged during the previous quarter. These problems were corrected within the eight-week period previously indicated. Production from the affected areas returned to normal during the month of September. In addition, the impact of the strike was exacerbated at both Beatrix and Kloof due to a slower than expected start-up after the strike. Production at the international operations declined by approximately 45,000 ounces to 346,000 ounces. The main contributors to the decline were Tarkwa and St Ives. Tarkwa declined by approximately 18,000 ounces to 124,000 ounces (attributable). Approximately one third of the decline was as a result of a Gold in Process (GIP) release in the June quarter which changed to a GIP increase during the September quarter. The balance is owed to reduced volumes to the mill; mill feed mix issues; and an out performance of the leach pads during the June quarter, which was highlighted previously. St Ives declined by approximately 23,000 ounces to 120,000 ounces. Roughly one third of the reduction is attributable to a planned mill shutdown and the inclusion of clean up from the old mill in the June quarter, offset by GIP moves in the mill. The other two thirds is largely attributable to a short-term reduction in the volume of high-grade ores from the underground mines, which was flagged in the previous quarter. Damang experienced a 2.4% decline in production and Agnew a 4.6% decline, both of which were planned declines off unusually high bases during the June quarter, and were indicated during the previous guidance. By the end of September operations had returned to normal and indications are that production is on track for a good December quarter. Previous page
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