Press release from CNW Group
Guidance Update - Gold Fields Expects Improved Production and Costs for Q3 2013
Thursday, October 03, 2013
Guidance Update - Gold Fields Expects Improved Production and Costs for Q3 201314:21 EDT Thursday, October 03, 2013
JOHANNESBURG, Oct. 3, 2013 /CNW/ - Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced that attributable Group production for the September 2013 quarter (Q3 2013) is expected to be 496,000 gold-equivalent ounces, which is 10% higher than the 451,000 achieved in the June 2013 quarter (Q2 2013).
Cash costs are expected to be approximately US$780/oz, which is 9% lower than the US$857/oz achieved in Q2, and notional cash expenditure (NCE) is expected to be approximately US$1,080/oz, 13% lower than the US$1,239/oz achieved in Q2.
Gold Fields is on track to achieve its full-year production guidance for 2013 of between 1,825,000 and 1,900,000 ounces, as well as its guidance for cash cost and NCE of US$830/oz and US$1,240/oz respectively, as revised on 22 August, 2013. The original cash cost and NCE guidance for 2013 was US$860/oz and US$1,360/oz respectively.
Gold Fields will release its full results for Q3 2013 on Wednesday, 20 November 2013.
Notes to editors
About Gold Fields
Gold Fields Limited is an unhedged, globally diversified producer of gold with nine operating mines in Australia, Ghana, Peru and South Africa. In February 2013 Gold Fields unbundled its KDC and Beatrix mines in South Africa into an independent and separately listed company, Sibanye Gold. In October 2013 Gold Fields acquired Barrick's Granny Smith, Lawlers and Darlot Gold Mines in Western Australia. Gold Fields subsequently has attributable gold-equivalent annual production of approximately 2.2 million ounces, Mineral Reserves of approximately 60 million ounces and Mineral Resources of approximately 161 million ounces. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX).
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
SOURCE: Gold Fields Limited
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