Press release from CNW Group
Record Quarterly Earnings of R2.1 Billion
Thursday, November 10, 2011
JOHANNESBURG, Nov. 10, 2011 /CNW/ - Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced record net earnings for the September quarter of R2,055 million compared with R1,267 million in the June quarter and earnings of R701 million in the September 2010 quarter. In US dollar terms net earnings for the September quarter were US$293 million, compared with US$186 million in the June quarter and earnings of US$95 million in the September 2010 quarter.
September 2011 quarter salient features:
- Group attributable equivalent gold production of 900,000 ounces, 3 per cent higher than the June quarter;
- Operating margin increased from 47 per cent to 51 per cent and NCE margin from 21 per cent to 29 per cent;
- Loans repaid of US$195 million funded from operating activities; and
- Second down payment of US$66 million made in the Far Southeast project in the Philippines, on positive drilling results.
The full results are available on the Gold Fields website: http://www.goldfields.co.za
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
For further information:
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