Gold Fields remains on track to achieve 2013 annual guidance
Thursday, 11 July 2013
Johannesburg, 11 July 2013: Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced that attributable Group production for the June 2013 quarter (Q2 2013) is expected to be 451,000 gold-equivalent ounces, with cash costs and notional cash expenditure (NCE) of approximately US$860/oz and US$1,250/oz respectively.
Despite the 5% decline in production from Q1 2013 to Q2 2013, Gold Fields remains on track to achieve its production guidance for 2013 of between 1,825,000 and 1,900,000 ounces and cash cost and NCE of US$860/oz and US$1,360/oz respectively.
The main cause of the approximately 25,000 ounce decline in production during Q2 was the illegal strike at the Tarkwa and Damang mines in Ghana which was previously reported and subsequently resolved.
Gold Fields will release its results for Q2 2013 on Thursday, 22 August 2013. With these results Gold Fields will start to report its costs in accordance with the World Gold Council's Guidance Note on new metrics for reporting on ‘all-in sustaining costs' (AISC) and ‘all-in costs' (AIC), designed to offer greater clarity around the costs associated with gold production. As a consequence the reporting of cash costs and NCE will be phased out by the end of 2013.