Gold Fields guidance update for Q3 2012
Friday, 12 October 2012
Johannesburg, 12 October 2012: Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced that attributable Group production for the September 2012 quarter (Q3 2012) is expected to be 810,000 gold equivalent ounces compared to 862,000 ounces in the June quarter (Q2 2012) and 900,000 ounces in the corresponding quarter one year ago (Q3 2011).
The international regions had a solid quarter contributing 424,000 (Q2 2012 - 425,000) attributable gold equivalent ounces, despite the two-week closure of the heap leach facilities at the Tarkwa Gold Mine in Ghana. Noteworthy has been the recovery at the Agnew Gold Mine in Australia, which contributed 48,000 (Q2 2012 - 37,000) ounces of gold.
The 386,000 (Q2 2012 - 437,000) ounces contribution by the South Africa Region was negatively impacted by a loss of approximately 30,000 ounces as a result of the fire at the YaRona Shaft of the KDC Gold Mine during the quarter, and a further approximately 35,000 ounces as a result of the unprotected strike action at KDC and the Beatrix Gold Mine during the quarter.
Unit costs will be negatively impacted by the lower production.
The on-going unlawful strike action in South Africa is of concern and will, even if resolved in the near term, increase the likelihood of major restructuring in the South African gold mining industry, including at Gold Fields.
Gold Fields will release full results for Q3 2012 on Monday, 26 November 2012.