MEDIA RELEASE
GOLD FIELDS REVISES GUIDANCE FOR Q3 F2010 ON THE BACK OF SAFETY INTERVENTIONS AT KLOOF GOLD MINE
Johannesburg, 23 February 2010: Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced that Q3 F2010 production for the Group will be approximately five percent below the previous guidance of 850,000 ounces provided on 4 February 2010. It is expected that the lower production will negatively impact cash costs and NCE on a per ounce basis.
This follows a decision to accelerate the replacement of a water pump column in the Main Shaft at the Kloof Gold Mine in South Africa, which was previously scheduled for replacement later in the year.
The decision to accelerate the replacement of the column is consistent with the Group's philosophy of "if we cannot mine safely, we will not mine", as well as the "stop, think fix, verify and continue programme", and was taken after certain sections of the column showed significant corrosion, resulting in the pre-mature failure of some of those sections.
Production is expected to return to normal levels by the end of the March Quarter (Q3 F2010), and production for the June Quarter (Q4 F2010) should be close to recent levels of production of approximately 5,000 kilograms of gold.
Enquiries
Media and Investor Enquiries
Willie Jacobsz
Tel +508 839-1188
Mobile +857 241-7127
email Willie.Jacobsz@gfexpl.com
Nikki Catrakilis-Wagner
Tel +27 11 562-9706
Mobile +27 (0) 83 309-6720
email Nikki.Catrakilis-Wagner@goldfields.co.za
Media Enquiries
Julian Gwillim
Tel +27 11 562-9774
Mobile +27 (0) 82 452 4389
email Julian.Gwillim@goldfields.co.za
ends
About Gold Fields
Gold Fields is one of the world's largest unhedged producers of gold with attributable production of 3.6 million ounces* per annum from nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfields and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 81 million ounces and Mineral Resources of 271 million ounces. Gold Fields is listed on JSE Limited (primary listing), the New York Stock Exchange (NYSE), the Dubai International Financial Exchange (DIFX), the Euronext in Brussels (NYX) and the Swiss Exchange (SWX). For more information please visit the Gold Fields website at www.goldfields.co.za.
*Based on the annualised run rate for the fourth quarter of F2009
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Gold Fields ltd
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PRODUCER |
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CODE : GFI |
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ISIN : US38059T1060 |
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Gold Fields is a gold producing company based in South africa. Gold Fields produces gold, copper in Australia, in Ghana, in Peru and in South Africa, develops gold in Mali, and holds various exploration projects in Peru. Its main assets in production are ST IVES MINE and AGNEW in Australia, BEATRIX MINE, DRIEFONTEIN, KLOOF MINE, SOUTH DEEP, KLOOF and BEATRIX in South Africa, DAMANG, TARKWA and DAMANG PROJECT in Ghana and CERRO CORONA in Peru, its main asset in development is KOMANA in Mali and its main exploration properties are LOBO in Philippines and CHUCAPACA and CANAHUIRE in Peru. Gold Fields is listed in France, in South Africa and in United States of America. Its market capitalisation is US$ 11.7 billions as of today (€ 10.5 billions). Its stock quote reached its lowest recent point on November 10, 2000 at US$ 1.69, and its highest recent level on September 13, 2024 at US$ 14.19. Gold Fields has 821 530 048 shares outstanding. |