The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from PR Newswire

Higher Gold Price Contributes to Improved Earnings

Friday, February 17, 2012

Higher Gold Price Contributes to Improved Earnings01:44 EST Friday, February 17, 2012JOHANNESBURG, February 17, 2012 /PRNewswire/ --Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced net earnings for the December quarter of R2,605 million compared with R2,055 million in the September quarter and a loss of R777 million in the December 2010 quarter.  In US dollar terms net earnings for the December quarter were US$336 million, compared with US$293 million in the September quarter and a loss of US$106 million in the December 2010 quarter. Net earnings of R7,027 million (US$973 million) for the year ended December 2011 compared with R1,139 million (US$153 million) for the year ended December 2010.December 2011 quarter salient features:Group attributable equivalent gold production of 883,000 ounces;Total cash cost decreased from US$851 per ounce to US$767 per ounce;Operating margin of 56 per cent and NCE margin of 28 per cent reflecting good cost control and higher prices;Project pipeline gaining momentum;Fourth place ranking in the resources sector of the Dow Jones sustainability index.A final dividend of 230 SA cents per share is payable on 12 March 2012, giving a total dividend for the year ended December 2011 of 330 SA cents per share.The full results are available on the Gold Fields website: http://www.goldfields.co.zaNotes to editorsAbout Gold FieldsGold 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 LimitedEnquiries Investor Enquiries Zakira Amra Tel: +27-11-562-9775 Mobile: +27(0)79-694-0267 email: Zakira.Amra@goldfields.co.za Willie Jacobsz Tel: +508-839-1188 Mobile: +857-241-7127 email: Willie.Jacobsz@gfexpl.com Media EnquiriesSven Lunsche Tel: +27-11-562-9763 Mobile: +27(0)83-260-9279 email: Sven.Lunsche@goldfields.co.zaSOURCE Gold Fields Limited