JOHANNESBURG, South Africa, Oct. 26 /PRNewswire-FirstCall/ -- Gold
Fields Limited (NYSE:GFI)(JSE:GFI) today announced September 2005
quarter net earnings of R39 million compared with a loss of R27
million in the June 2005 quarter and earnings of R89 million for
the September quarter of 2004. In US dollar terms net earnings for
the September 2005 quarter equated to US$6 million compared with a
loss of US$5 million in the June 2005 quarter and earnings US$14
million for the September quarter of 2004. Net earnings excluding
gains and losses on financial instruments and foreign debt net of
cash and exceptional items were R44 million (US$7 million) for the
September 2005 quarter compared to R217 million (US$35 million) in
the June quarter. September 2005 quarter salient features: -
Attributable gold production decreased 8 per cent to 993,000
ounces, half of which is attributable to the strike in South
Africa; - Operating costs decline by 1 per cent to R2.46 billion
despite the 6.5 per cent wage increases at the South African
operations; - Total cash costs R72,768 per kilogram (US$347 per
ounce), 7 per cent higher than the previous quarter due to lower
production; - Operating profit R554 million (US$85 million). Ian
Cockerill, Chief Executive Officer of Gold Fields said: "During the
September quarter gold production declined by 8 per cent.
Approximately half of this was as a result of strike action, and
the balance due to operational issues that we flagged in the
guidance provided with the results for the June quarter. These
issues have largely been resolved. "During the final month of the
September quarter all operations showed positive trends, which were
carried over into the October month, indicating a stronger December
quarter. "Despite the challenges referred to above we retained a
firm grip on costs with operating costs improving by 1 per cent to
R2.46 billion, this despite a 6.5 per cent wage increase
implemented in South Africa during the quarter. "The cost objective
for the South African operations remains to reduce costs to below
R70,000 per kilogram." Stock data Number of shares in issue - at
end September 2005 491,627,907 - average for the quarter
491,515,569 Free Float 80% ADR Ratio 1:1 Bloomberg / Reuters GFISJ
/ GFLJ.J JSE Limited - (GFI) Range - Quarter ZAR68.02 - ZAR95.91
Average Volume - Quarter 1,397,954 shares / day NYSE - (GFI) Range
- Quarter US$10.60 - US$14.96 Average Volume - Quarter 1,350,092
shares / day Salient features South African Rand Quarter Restated
Restated September June September 2004 2005 2005 Gold produced* kg
31,317 33,523 30,892 Total cash costs R/kg 66,516 67,773 72,768
Tons milled 000 11,043 12,225 11,888 Revenue R/kg 81,815 88,076
91,669 Operating costs R/ton 212 202 207 Operating profit Rm 456
656 554 Operating margin % 17 21 18 Net earnings Rm 89 (27) 39 Net
earnings SA c.p.s. 18 (6) 8 Headline earnings Rm 89 122 36 Headline
earnings SA c.p.s. 18 24 7 Net earnings Rm (19) 217 44 excluding
gains and losses on financial instruments and foreign debt net of
cash and exceptional items Net earnings SA c.p.s. (4) 44 9
excluding gains and losses on financial instruments and foreign
debt net of cash and exceptional items Salient features United
States Dollars Quarter Restated Restated September June September
2005 2005 2004 Gold produced* oz (000) 993 1,078 1,007 Total cash
costs $/oz 347 330 325 Tons milled 000 11,888 12,225 11,043 Revenue
$/oz 437 429 400 Operating costs $/ton 32 32 33 Operating profit $m
85 103 72 Operating margin % 18 21 17 Net earnings $m 6 (5) 14 Net
earnings US c.p.s. 1 (1) 3 Headline earnings $m 6 19 14 Headline
earnings US c.p.s. 1 4 3 Net earnings $m 7 35 (3) excluding gains
and losses on financial instruments and foreign debt net of cash
and exceptional items Net earnings US c.p.s. 1 7 (1) excluding
gains and losses on financial instruments and foreign debt net of
cash and exceptional items * Attributable - All companies wholly
owned except for Ghana (71.1%). Health and safety We regret to
report 10 fatalities during the September quarter, the majority at
Driefontein due to falls of ground and seismicity. The fatal injury
frequency rate was 0.28 similar to the previous quarter's figure of
0.29. However, the lost day injury frequency rate improved from
14.1 to 13.4, the serious injury frequency rate improved from 7.0
to 6.3 and the days lost frequency rate also improved from 384 to
369. The international operations remained fatality free this
quarter. These rates are unacceptably high and management is
actively reviewing all current safety initiatives and seeking areas
of improvement, so as to attain the long-term objective of
achieving the Ontario safety standards on all of our mines.
Financial review Quarter ended 30 September 2005 compared to
quarter ended 30 June 2005 Revenue Attributable gold production
decreased by 8 per cent to 993,000 ounces in the September 2005
quarter, compared with 1,078,000 ounces achieved in the June 2005
quarter. Production at the South African operations was 647,000
ounces, compared with 687,000 in the June quarter, a 6 per cent
decline. Attributable production at the international operations
decreased 12 per cent from 391,000 ounces to 346,000 ounces. At the
South African operations, Driefontein and Kloof performed largely
as expected with both operations impacted by the strike and Kloof
experiencing continuing grade problems. As indicated in the
previous quarter Beatrix experienced haulage constraints at 20
level, 4 shaft, due to smectite problems. Production from the
affected areas started returning to normal during the month of
September. In addition, the impact of the strike was exacerbated at
both Beatrix and Kloof due to a slower than expected start-up after
the strike. The main contributors to the decline at the
international operations were Tarkwa and St Ives. Tarkwa declined
by 18,000 ounces to 124,000 ounces (attributable).Approximately one
third of the decline was as a result of a gold in process (GIP)
release in the June quarter, which did not reoccur in the September
quarter with the balance due to lower head grades. St Ives declined
by 23,000 ounces to 120,000 ounces. The majority of this shortfall
is attributable to the inclusion of clean up from the old mill in
the June quarter and a short-term reduction in the volume of high-
grade ores from the underground mines, highlighted in the previous
quarter. The US dollar gold price increased 2 per cent from US$429
per ounce in the June quarter to US$437 per ounce in the September
quarter. This, together with the weakening of the rand against the
US dollar, from an average of R6.39 to R6.52, resulted in the rand
gold price increasing 4 per cent, from R88,076 per kilogram in the
June quarter to R91,669 per kilogram in the September quarter. The
decrease in production was only partially offset by the increase in
the rand gold price achieved resulting in revenue decreasing from
R3,156 million (US$492 million) to R3,023 million (US$464 million)
this quarter. Operating costs Operating costs for the September
quarter, at R2,457 million (US$377 million), decreased by 1 per
cent when compared with the June quarter's R2,474 million (US$386
million). Costs at the South African operations increased by R12
million to R1,672 million (US$256 million), which was less than 1
per cent higher than operating costs in the previous quarter of
R1,660 million (US$258 million). The nominal increase in operating
costs was achieved despite the 6.5 per cent wage increase effective
from 1 July 2005. This increase was mostly offset by continued
strict cost controls. Costs at the international operations,
including gold-in- process changes, were R797 million (US$122
million), 5 per cent below the R840 million (US$132 million)
incurred in the June quarter. This decrease in costs was mainly at
St Ives, reflecting not only the reduction in underground mining
volumes but also the continued focus on cost control. The 2 per
cent weaker rand compared with the US dollar as detailed above
resulted in an increase in costs of about R8 million (US$1
million), while the rand against the Australian dollar, which
weakened marginally, from R4.91 to R4.96, accounted for a R3
million (US$1 million) increase in costs. Operating margin The net
effect of the movements in revenue and costs, after taking into
account gold-in-process changes, was an operating profit of R554
million (US$85 million). This is 16 per cent below the R656 million
(US$103 million) achieved in the June quarter. The Group margin
decreased from 21 per cent last quarter to 18 per cent in the
September quarter, while the margin at the South African operations
decreased from 12 per cent to 9 per cent. The margin at the
international operations was unchanged at 33 per cent. Amortisation
Amortisation decreased from R391 million (US$61 million) in the
June quarter to R353 million (US$54 million) in the September
quarter. This decrease was due to the lower production experienced
at most operations during the quarter. Other Net interest and
investment income after taking into account interest paid decreased
from R15 million (US$2 million) in the June quarter to R1 million
(US$- million) for the September quarter. This decrease in net
interest is due to realised gains on the Mvela interest rate swap
included in earnings in the previous quarter. The loss on financial
instruments of R9 million (US$1 million) compares with a gain of
R100 million (US$16 million) in the June quarter. This quarter
includes a loss on the Tarkwa rand/US dollar forward cover of R16
million (US$3 million) and a R3 million (US$1 million) loss on the
Australian dollar/US dollar call options partially offset by a gain
on diesel call options in Ghana of R10 million (US$2 million). The
majority of the gain in the June quarter was from the closure of
the Mvela interest rate swap, which accounted for R91 million
(US$16 million). More details on these financial instruments are
given on page 15 of this report. Exploration and expenditure
Exploration expenditure increased from R61 million (US$10 million)
to R66 million (US$10 million) in the June quarter - please refer
to the Exploration and Corporate Development section for more
detail. Exceptional items The exceptional gain of R3 million (US$1
million) from the sale of sundry assets and investments, compares
with the loss in the June quarter of R359 million (US$58
million).Last quarter included impairments at Beatrix, Driefontein,
Kloof, St Ives and Living Gold, together with the cost of defending
the Harmony bid, partially offset by the sale of investments.
Taxation Taxation for the quarter amounted to R45 million (US$7
million) compared with a credit of R62 million (US$10 million) in
the June quarter. The tax provision includes normal and deferred
taxation on all operations together with royalties at the
international operations. The main reason for the credit last
quarter was a deferred tax credit of A$36 million (R167 million) in
Australia, due to a gross up in tax values of assets resulting from
the consolidation of the Australian operations for tax purposes as
from 1 July 2003. Added to this was the tax credit on the Beatrix
impairment, which amounted to R24 million (US$4 million). This was
partially offset by normal taxation. Earnings After accounting for
minority interests, net earnings amounted to R39 million (US$6
million) or 8 SA cents per share (US$0.01 per share), compared with
a restated loss of R27 million (US$5 million) or negative 6 SA
cents per share (negative US$0.01 per share) in the previous
quarter. Headline earnings i.e. earnings less the after tax effect
of asset sales, impairments and the sale of investments, was R36
million (US$6 million) or 7 SA cents per share (US$0.01 per share),
compared with restated earnings of R122 million (US$19 million) or
24 SA cents per share (US$0.04 per share) last quarter. Earnings
excluding exceptional items as well as net gains and losses on
financial instruments and foreign debt net of cash amounted to R44
million (US$7 million) or 9 SA cents per share (US$0.01 per share),
compared with restated earnings of R217 million (US$35 million) or
44 SA cents per share (US$0.07 per share) reported last quarter. As
reported above under taxation, the R217 million earnings reported
last quarter included a deferred tax credit of R167 million (A$36
million) in Australia. Cash flow Cash flow from operating
activities for the quarter was R303 million (US$47 million), which
was less than half of the operating cash flow generated in the June
quarter of R708 million (US$110 million). This was due to the lower
production and resultant decrease in operating profit and the
negative change in working capital of R188 million (US$30 million)
quarter on quarter. This decrease was mainly due to the timing of
creditors payments and interest payments on the Mvela loan. During
the quarter R197 million (US$29 million) was paid in dividends. No
dividends other than those paid to Ghanaian minorities of R48
million (US$7 million) were paid during the June quarter. Capital
expenditure amounted to R325 million (US$50 million) compared with
R442 million (US$68 million) in the June quarter. Expenditure at
the South African operations decreased R41 million to R133 million
(US$20 million). A significant portion of this expenditure was
directed at the major projects, with R23 million (US$4 million) at
1 tertiary and 5 shaft at Driefontein, R9 million (US$1 million) at
Kloof 4 shaft, R4 million (US$1 million) at Kloof 1 shaft pillar
extraction and R29 million (US$4 million) at Beatrix 3 shaft. The
Australian operations incurred capital expenditure of R111 million
(A$22 million) compared with R122 million (A$24 million) in the
June quarter. Expenditure at St Ives included development costs at
Argo and Leviathan underground. At Agnew, the majority of the
expenditure was spent on development. Included in capital
expenditure was ongoing exploration expenditure at both operations
of R34 million (A$7 million). At the Ghanaian operations, capital
expenditure amounted to R72 million (US$11 million) mainly on the
new heap leach pads projects at Tarkwa and the Damang main pit
cutback. This compares with R117 million (US$18 million) in the
previous quarter. Major projects are still forecast to be in line
with approved votes. Proceeds on disposal of various Group wide
mining assets amounted to R4 million (US$1 million) for the
quarter. Financing activities include the half yearly payment of
the debt portion of the Mvela loan of R140 million (US$22 million).
Net cash outflow for the quarter was R431 million (US$65 million).
After accounting for a negative translation adjustment of R144
million (US$4 million positive), the funding of capital expenditure
and the dividend as detailed above, the cash balance at the end of
September was R2,800 million (US$442 million). The balance at the
end of June was R3,375 million (US$504 million). Detailed and
operational review Group overview Attributable gold production for
the September 2005 quarter decreased 8 per cent to 993,000 ounces
when compared with the June quarter. Production from the South
African operations at 647,000 ounces accounted for 65 per cent of
the Group's total attributable production, compared with 687,000
ounces or 64 per cent last quarter. At the South African
operations, gold production decreased 6 per cent compared with the
previous quarter. The decrease of 7,100 ounces and 8,100 ounces at
Kloof and Driefontein respectively was mainly due to the strike
during the quarter, while Kloof continued to experience lower
grades than reserve grades in the earlier part of the quarter. At
Beatrix the 24,600 ounce reduction was due to the strike and slow
start-up after the strike, together with the smectite problems
detailed earlier. Operating profit at the South African operations
decreased from R224 million (US$35 million) to R170 million (US$26
million), mainly as a consequence of the lower gold production.
Production from the Australian operations was 13 per cent lower
quarter on quarter at 181,800 ounces. The decrease in production at
Agnew of 3,100 ounces was due to the lower grades as forecast last
quarter. At St Ives the decrease of 23,300 ounces was due to the
mill shut down, and lower underground volumes during the quarter
together with an additional 12,000 ounces from mill clean up in the
June quarter. Despite the lower production, operating profit from
the Australian operations increased from R159 million (A$33
million, US$25 million) to R177 million (A$36 million, US$27
million), primarily as a result of the higher gold price which
increased from an average of A$551 per ounce to A$578 per ounce for
the September quarter, allied with lower costs. The Ghanaian
operations showed a 10 per cent decrease in attributable gold
production to 164,600 ounces. Damang was slightly lower, as
forecast. At Tarkwa the decrease was due to movements in GIP and
lower grades. Ghana contributed operating profit of R207 million
(US$32 million), a 24 per cent decrease when compared with the June
quarter due to the lower production. The international operations
contributed R384 million (US$59 million) or 69 per cent of the
total operating profit of R554 million (US$85 million). This
compares with R433 million (US$68 million) or 66 per cent of the
total operating profit of R656 million (US$103 million) last
quarter. South African Operations Project 500 was initiated in
September 2003 to increase revenue and reduce costs through two
sub-projects i.e. Project 400 and Project 100. These projects have
proved successful and led to additional projects - Project 100+ and
Project Beyond as detailed below. Project 400 Project 400 was aimed
at improving revenue such that an additional R400 million (US$60
million) per annum could be generated on a sustainable basis. This
was to be achieved through a basket of productivity initiatives; by
eliminating non-contributing production and replacing low-grade
surface material with higher margin underground material - all
aimed at improved quality volumes. In F2005 this has resulted in
improved yields, in line with the life of mine grades for each of
the South African operations, as reflected in the table below. Sep
Quarter ended F2004 F2005 2005 Driefontein: Life of mine head grade
as per the 2003, 2004 and 2005 annual report 8.7 8.1 8.0 Life of
mine head grade adjusted for estimated metallurgical recoveries 8.4
7.8 7.8 Driefontein (underground yields achieved) 8.1 8.3 8.1
Kloof: Life of mine head grade as per the 2003,2004 and 2005 annual
report 9.8 10.5 9.7 Life of mine head grade adjusted for estimated
metallurgical recoveries 9.5 10.2 9.4 Kloof (underground yields
achieved) 9.0 9.1 8.7 Beatrix: Life of mine head grade as per the
2003,2004 and 2005 annual report 5.1 5.5 5.4 Life of mine head
grade adjusted for estimated metallurgical recoveries 4.9 5.3 5.2
Beatrix (underground yields achieved) 4.6 5.0 5.2 Project 100+ and
Project Beyond At the end of September 2005, Project 100+ had
twelve projects under management, with projected benefits of R200
million (US$30 million) per annum. Approximately half of these
projects are in the concept or design phases. The greater part of
the benefit realisation for these projects is expected during the
2006 and 2007 financial years. Project Beyond, initiated in 2004,
is a procurement and supply chain initiative targeting savings of
between R200 and R300 million (US$30 and US$45 million) per annum
over three years, i.e. around 10 per cent of the amount expended on
materials, services and capital expenditure at the South African
operations. The project delivered R103 million (US$16 million) of
contractual savings (12.3 per cent) on historic baseline
expenditure during the 2005 financial year through addressing
commodities such as grinding media, foodstuffs, mill liners, ore
transport, roof and timber support, bearings, engineering repairs
and lubricants. These savings are realised as the new contracts are
utilised by the mining operations and, as a consequence, will
largely be realised during the 2006 financial year. R14 million
(US$2 million) of cash flow savings for the first quarter of F2006
has been achieved. Project Beyond is targeting a further R75 to
R100 million (US$12 to US$15 million) savings per annum at the
local operations during the 2006 financial period. Commodities such
as diesel engine repairs, explosives, lime, lifting equipment,
valve spares, steel wire ropes, scrapers & chutes, labour hire,
hoppers and ventilation pipes will be subjected to scrutiny and
analysis in order to achieve the local savings target. Furthermore,
as Gold Fields' strategic sourcing capability matures, focus is
moving to Total Cost of Ownership (TCO) models (which would include
not only the purchase price but the total cost over the life of the
equipment including maintenance, spares and operating costs) and
working in partnering relationships with suppliers on performance
based contracts. Sourcing benefits have also been identified at the
international operations of Australia, Ghana and the Peruvian Cerro
Corona project. Preliminary indications are that savings of around
US$20 million (R130 million) per annum may be achieved. In
addition, Gold Fields will be embarking on targeting further
benefits through the introduction of a globally integrated supply
chain structure. Initial studies of identifying opportunities
across the entire supply chain (forecasting and planning, sourcing,
inventory, maintenance, production, accounts payable, disposal and
distribution) are underway. Driefontein September June 2005 2005
Gold produced - 000'ozs 289.8 297.9 Yield - underground - g/t 8.1
8.3 - combined - g/t 5.6 5.3 Total cash costs - R/kg 69,872 64,548
- US$/oz 333 314 Gold production at Driefontein decreased by 3 per
cent from 297,900 ounces in the June quarter to 289,800 ounces in
the September quarter, which was in line with the forecast. The
underground grade decreased from 8.3 grams to 8.1 grams per ton
during the quarter. This was partially offset by an increase in the
underground tonnage from 978,000 tons to 989,000 tons despite a
four day work 'stoppage' caused by industry wide wage negotiation
industrial action. Surface tonnage was managed lower to accommodate
the anticipated higher underground volume. This switch from surface
to underground tonnage resulted in an increase in cost per ton from
R359 to R406 in the September quarter. This blending adjustment
improved the combined yield from 5.3 grams per ton in the June
quarter to 5.6 grams per ton in the September quarter. The yield
was bolstered by plant clean-up which accounted for 3,000 ounces
for the quarter. Operating costs increased by 5 per cent from R625
million (US$97 million) in the June quarter to R656 million (US$101
million) in the September quarter as a result of the 6.5 per cent
annual wage increase and the increased underground tonnage. Total
cash costs increased 8 per cent in rand terms to R69,872 per
kilogram. In US dollar terms, total cash costs increased by 6 per
cent from US$314 per ounce to US$333 per ounce. Operating profit
decreased by 11 per cent from R188 million (US$30 million) in the
June quarter to R168 million (US$26 million) in the September
quarter. Capital expenditure decreased from R75 million (US$12
million) in the June quarter to R47 million (US$7 million) for the
September quarter. It is anticipated that capital expenditure will
return to the former level for the remaining quarters of F2006.
Grade estimate modelling forecasts a slightly lower grade during
the December quarter, with improved underground ore volumes. Gold
production for the December quarter should therefore be similar to
the September quarter. The cost profile for the December quarter
will increase slightly due to the planned increase in underground
volumes hoisted, substituting the mineralised waste from surface.
Kloof September June 2005 2005 Gold produced - 000'ozs 218.4 225.5
Yield - underground - g/t 8.7 8.3 - combined - g/t 7.8 7.8 Total
cash costs - R/kg 88,295 85,445 - US$/oz 421 416 Gold production at
Kloof decreased by 3 per cent from 225,500 ounces in the June
quarter to 218,400 ounces in the September quarter. This decrease
was due to fewer shifts worked as a result of the wage related
strike action during August, exacerbated by a slow start-up after
the strike and continued lower grades than reserve grades as
highlighted in the June quarter. Underground grades improved by 5
per cent quarter on quarter and management intervention is ongoing
to return these grades to more historic levels above 9 grams per
ton during the next quarter. Tons milled from underground decreased
by 8 per cent from 832,000 to 767,000 quarter on quarter due to the
strike and a further reduction in marginal area mined. Underground
yields improved from 8.3 grams to 8.7 grams per ton. A proportion
of the lost underground tonnage due to the strike was made up from
surface stockpile material. Surface tons increased from 70,000 in
the June quarter to 108,000 in the September quarter, albeit at a
much lower grade. The change in mining mix resulted in a combined
yield for the quarter of 7.8 grams per ton, the same as the June
quarter. The net lower tons milled resulted in an increase from
R692 per ton to R714 per ton, quarter on quarter. Operating costs
at R625 million (US$96 million) for the quarter were virtually
unchanged compared with the June quarter. The impact of annual wage
increases was offset by lower costs as a result of reduced volumes
during the industrial action. However, total cash costs increased
by 3 per cent to R88,295 per kilogram compared with the June
quarter of R85,445 per kilogram as a result of the lower gold
production. Total cash costs in US dollar terms increased by 1 per
cent to US$421 per ounce for the quarter. The operating loss of R4
million (US$1 million) for the September quarter was similar to the
previous quarter. Capital expenditure decreased by 11 per cent to
R43 million (US$7 million) for the quarter mainly due to lower
expenditure at 4 sub-vertical shaft. Initiatives implemented to
improve the mining grade are progressing well and the December
quarter's volume and grade are expected to improve, which would
result in an increase in gold produced by between 5 and 10 per
cent. Cash costs will reduce accordingly. Beatrix September June
2005 2005 Gold produced - 000'ozs 138.6 163.2 Yield - underground -
g/t 5.2 5.6 Total cash costs - R/kg 87,152 78,010 - US$/oz 416 380
Gold production at Beatrix decreased by 15 per cent from 163,200
ounces in the June quarter to 138,600 ounces in the September
quarter. Underground ore volumes decreased from 910,000 tons in the
June quarter to 831,000 tons in the September quarter. This
decrease was due to the industrial action which took place during
August and the slow start-up after this strike, together with the
haulage constraints at West shaft due to continuation of the
smectite problems reported last quarter. The logistics project at
West shaft to alleviate the smectite problems made further progress
during the September quarter, with the last level and some critical
development nearing completion. The overall yield decreased from
5.6 grams to 5.2 grams per ton. This decrease in yield was due to
slightly lower mining values, mainly due to reduced volumes at
Beatrix West, which is a higher grade shaft than the rest of the
property. Surface material is no longer processed at Beatrix due to
uneconomic grades at current price levels. Operating costs
decreased by 5 per cent from R411 million (US$64 million) to R391
million (US$60 million) mainly due to the lower production, which
offset the 6.5 per cent increase in wages effective from 1 July
2005. However, the decrease in gold production resulted in an
increase in total cash costs per kilogram by 12 per cent from
R78,010 per kilogram (US$380 per ounce) in the June quarter to
R87,152 per kilogram (US$416 per ounce) in the September quarter.
Beatrix posted an operating profit of R6 million (US$1 million) in
the September quarter despite the negative effect of the strike on
production, compared with R39 million (US$6 million) in the June
quarter. Capital expenditure at R44 million decreased 15 per cent
compared to the June quarter. This decrease was mainly due to lower
development meters at 3 shaft as a result of the industrial action.
Gold production for the December quarter is forecast to increase to
historic levels of above 150,000 ounces, which will have a positive
impact on unit working costs. Capital expenditure is planned to
increase by 30 per cent in the December quarter due to the need to
increase certain key development projects to maintain higher levels
of production. International Operations Ghana Tarkwa September June
2005 2005 Gold produced - 000'ozs 174.2 199.1 Yield - Heap leach -
g/t 0.9 1.0 Yield - CIL plant - g/t 1.5 1.7 Total cash costs -
US$/oz 277 240 Tarkwa's gold production decreased by 13 per cent
from 199,100 ounces in the June quarter to 174,200 ounces in the
September quarter. The heap leach operation contributed 119,600
ounces, down 16,100 ounces from the June quarter. The CIL plant
contributed 54,600 ounces, a decrease of 8,800 ounces. A total of
5.3 million tons of ore was processed during the quarter. The CIL
plant processed 1.14 million of these tons at a yield of 1.50 grams
per ton, compared with 1.18 million tons at a yield of 1.66 grams
per ton in the June quarter. The decline in head grade reflects
difficulties experienced during the quarter in balancing the load
of soft high grade and hard medium grade ores to the mill. The
volume of the latter had to be increased during the quarter to
provide competent ores to the mill to maintain mill performance, in
the process displacing the former. Ore stacked on the leach pads
was 2 per cent lower than the previous quarter reflecting the
effects of the 2 day strike and 3 fewer operating days in the
quarter. Head grade to the leach pads was 1.20 grams per ton,
compared with 1.29 grams per ton in the June quarter. The decrease
in grade was in line with forecast. Gold-in-process release at the
heaps during the period was 1,400 ounces compared with 6,000 ounces
in the June quarter. The decline in gold release from the heaps was
due to stacking on the 3 and 4th lifts at both the north and south
heap leach plants. Tons mined increased by 2.2 million tons for the
quarter to 24.1 million tons. The stripping ratio increased from
3.17 to 3.46 reflecting the current push backs taking place at both
the Teberebie and Kotraverchy pits. Mining costs were US$0.88 per
ton for the quarter compared with US$0.81 per ton last quarter
reflecting the increase in the maintenance cost of the fleet due to
the number of hours the units have been operating and the
increasing cost of diesel. Operating costs at US$48 million (R315
million), including gold-in-process adjustments, were similar to
the previous quarter. The costs of the additional stripping were
offset by the lower GIP charge. Operating costs per ton treated
excluding GIP charges were US$9.25 per ton as against US$8.73 per
ton in the June quarter, reflecting the increase in stripping
ratio. Total cash costs at US$277 per ounce compare with the June
quarter's US$240 per ounce and reflects the decrease in gold
production and increase in strip ratio. Operating profit at US$28
million (R182 million) decreased by US$10 million (R57 million)
compared with the June quarter. The lower production was partly
offset by the increase in the average gold price, which increased
from US$428 per ounce in the June quarter to US$437 per ounce in
the September quarter. Capital expenditure decreased from US$16
million (R101 million) in the June quarter to US$7 million (R47
million) in the September quarter. The construction of leach pads
at both the North and the South facilities remains the major focus
of expenditure. Gold production for the December quarter is
expected to improve, as stacking has commenced on the first lift at
the new Blue Ridge pads at the South heap leach facility, although
the North leach pad will remain on high lifts throughout the
quarter. This will result in unpredictable gold production from
these heaps in particular. During October good progress was being
made on resolving the mill blend issues referred to above and a
slight improvement in grade is expected there. Damang September
June 2005 2005 Gold produced - 000'ozs 57.2 58.2 Yield - g/t 1.3
1.4 Total cash costs - US$/oz 375 340 Gold production decreased
from 58,200 ounces during the June quarter to 57,200 ounces in the
September quarter. This decline was due to a decrease in feed grade
to the plant, from 1.54 grams per ton in the June quarter to 1.46
grams per ton in the September quarter. The decrease in grade
resulted from reduced higher grade fresh ore tonnages mined from
the Juno 2SE pit, which will reach its final depth in the December
quarter. This was offset, to a degree by a 5 per cent increase in
mill throughput to 1.33 million tons, notwithstanding the shorter
operating period. This increase reflects better availability of the
mill and a slight reduction in the volume of the Juno ores referred
to earlier, which are particularly hard. Total tons mined decreased
slightly from 3.8 million tons to 3.7 million tons. Mining
operations commenced in the Tomento pit and continued in the
Amoanda and Juno 2SE pits, with ore tonnages mined decreasing from
858,000 tons in the June quarter to 742,000 tons in the September
quarter. The Tomento and Amoanda pits were the main source of oxide
feed to the plant, although towards the end of the quarter the
Amoanda pit joined the Juno 2SE pit as a source of fresh ore.
Operating costs, including gold-in-process adjustments, increased
marginally to US$21 million (R138 million) from US$20 million (R125
million) in the June quarter. Cost per ton milled decreased from
US$15.52 to US$14.40 largely due to lower mining costs associated
with the increased volumes from the conglomerate pits. Total cash
costs increased from US$340 per ounce to US$375 per ounce
reflecting a US$2million (R13million increase in GIP charge for the
quarter and also the lower grades. Operating profit decreased from
US$5 million (R35 million) to US$4 million (R26 million) for the
September quarter with the higher gold price only partially
offsetting the lower gold production and increased costs. Capital
expenditure for the quarter amounted to US$4 million (R25 million).
The majority of this expenditure was incurred in development costs
at the Damang pit cutback, which commenced during the quarter. Gold
production and costs are expected to be similar in the December
quarter. Australia St Ives September June 2005 2005 Gold produced -
000'ozs 119.8 143.1 Yield - Heap leach - g/t 0.5 0.5 Yield -
Milling - g/t 3.1 3.5 Total cash costs - A$/oz 415 450 - US$/oz 316
348 Gold production for the quarter was 119,800 ounces, 16 per cent
down from last quarter's 143,100 ounces. This decrease was due to
lower treatment volumes, a revised open pit mine plan and
operational difficulties at the underground mine, particularly at
Leviathan. The June quarter also included 12,000 ounces of clean up
gold from the old mill. The Lefroy mill produced 111,200 ounces for
the quarter and the heap leach plant 8,600 ounces. Total tons
processed during the quarter amounted to 1.64 million, a decrease
of 3 per cent from the June quarter. The new Lefroy plant processed
1,118,400 tons a decline of 5 per cent against the previous quarter
reflecting a planned shut down but also a slow ramp up in tonnage
after the shutdown. Tonnage treated through the heap leach plant
declined to 522,000 tons following the failure of one of the
tertiary crushers there. The average head grade processed at 2.5
grams per ton was down significantly against the June quarter's 2.9
grams per ton. Poor performance of the underground mines led to a
decline in volumes of high grade ore to the Lefroy mill and a drop
in yield to 3.1 grams per ton from 3.5 grams per ton in the
previous quarter. Mining operations produced 1.63 million tons of
ore during the quarter, only marginally below the previous
quarter's result. Open pit head grade was steady at 1.64 grams per
ton but lower than the planned grade due to a revision of the mine
plan that resulted in delayed deliveries from the Agamemnon open
pit. This decision was made to accommodate recently delineated
higher grade extensions that will now be accessed in the latter
part of the December quarter. As a consequence, alternative lower
grade ore was substituted. Waste movement was again reduced but
will increase in future quarters as stripping activities on new ore
positions increase. During the quarter 1.43 million BCM's of open
pit ore and waste were mined at an average strip ratio of 2.64 as
compared with 3.1 in the June quarter. The underground mining
operations performed below expectations, producing 427,600 tons of
ore at 4.5 grams per ton compared with 538,000 tons of ore at 5.6
grams per ton in the June quarter. At the Leviathan underground
mine the June quarter performance was not sustained with a
reduction in volumes and grades being the biggest contributor to
the shortfall in underground ounces referred to earlier. The East
Repluse issues reflect a backfill failure in one of the high grade
stopes and subsequent effect on surrounding stopes. Production
commenced from the new Conqueror ore body which is part of the
Leviathan complex. Operating costs, including gold-in-process
adjustments, decreased from A$67 million (R327 million) to A$50
million (R249 million) reflecting not only the reduced volumes
milled but also the continued focus on cost control and the lower
cost of running the new Lefroy mill. Operating costs do however
include a A$3 million (R15 million) credit for power charges,
reflecting settlement of a long running claim. Total cash costs
fell from A$450 per ounce (US$348 per ounce) in the June quarter to
A$415 per ounce (US$316 per ounce). Operating profit at A$19
million (R94 million) was up on the A$13 million (R65 million)
achieved in the June quarter despite the decrease in gold
production. This was due to higher revenues (average gold price of
A$577 per ounce for this quarter compared with A$555 per ounce in
the June quarter) and lower operating costs. Capital expenditure
for the September quarter amounted to A$16 million (R81 million)
similar to the June quarter. Capital development underground and
capital equipment at Lefroy plant were the main expenditure areas.
Capital expenditure will increase slightly in the coming quarters
in line with increased waste stripping activity in the open pits.
Gold production and cash costs are expected to improve in the
December quarter. Agnew September June 2005 2005 Gold produced -
000'ozs 62.0 65.1 Yield - g/t 5.9 6.4 Total cash costs - A$/oz 303
265 - US$/oz 230 205 Gold production at Agnew decreased 5 per cent
to 62,000 ounces in the September quarter compared with 65,100
ounces in the June quarter. This was driven by a 3 per cent
increase in mill throughput to 325,000 tons balanced by a slight
reduction in head grades and volumes from the Kim underground mine
as compared to the out performance reported in the last quarter.
Mining from the Waroonga underground complex (Kim and Main Lodes)
decreased 4 per cent to 117,300 tons of ore resulting in gold
production also decreasing to 49,000 ounces, against 59,000 ounces
in the June quarter. This result reflects a slightly increased
contribution from Main Lode. The Songvang open pit continued at the
planned rate. Total BCM movement for the September quarter was
1,555,800, a reduction of 20 per cent on the June quarter figure of
1,938,800 BCM. This was driven by reduced waste movement reflected
by the strip ratio dropping to 16.1 from 20.1. Ore mined from the
pit totalled 248,900 tons at a head grade of 2.5 grams per ton
compared to the June quarter's 236,500 tons at a grade of 2.2 grams
per ton. Operating costs, including gold-in-process adjustments,
increased from A$17 million (R82 million) in the June quarter to
A$19 million (R95 million) in the September quarter reflecting
higher volumes of waste charged to operating costs and a slight
increase in mining costs at Songvang open pit, reflecting increased
ore hardness and mining depth. Total cash costs increased from
A$265 per ounce (US$205 per ounce) in the June quarter to A$303 per
ounce (US$230 per ounce) in the September quarter. The increase was
as a result of the decrease in gold production coupled with an
increase in unit mining costs at Songvang. Agnew's operating profit
decreased from A$20 million (R94 million) to A$17 million (R83
million) in the September quarter, reflecting the decrease in
production and increased costs. Capital expenditure decreased from
A$7 million (R36 million) to A$6 million (R30 million) in the
September quarter, the decrease being due to a reduction in the
rate of spend on the mill adsorption/leach tank refurbishment
programme. Gold production and cash costs are expected to be
similar in the December quarter. Quarter ended 30 September 2005
compared with quarter ended 30 September 2004 Attributable gold
production in the September 2005 quarter was 1 per cent lower at
993,000 ounces when compared with 1,007,000 ounces in the September
2004 quarter. Production at the South African operations at 647,000
ounces was 8 per cent below the 700,000 ounces produced in the
September 2004 quarter, mainly due to the strike in August 2005. At
the international operations, gold production increased 13 per cent
to 346,000 ounces, the majority of this increase is due to the
commissioning of the new mill at Tarkwa, where an increase of
35,000 ounces was achieved when comparing the two quarters. Revenue
increased 12 per cent in rand terms (increased 9 per cent in US
dollar terms) from R2,705 million (US$425 million) to R3,023
million (US$464 million). The lower gold production was more than
offset by the increase in the average rand gold price, which
increased 12 per cent from R81,815 per kilogram (US$400 per ounce)
in the September 2004 quarter to R91,669 per kilogram (US$437 per
ounce) in the September 2005 quarter. Group operating costs in rand
terms increased 5 per cent to R2,457 million (US$377 million). At
the South African operations operating costs were virtually
unchanged at R1,672 million (US$256 million). The lower production
and the effect of the no-work no-pay implemented during the strike
in August 2005 together with stringent cost controls offset the
wage increases and normal inflationary increases seen over the past
year. The increase in operating costs at the international
operations amounted to 7 per cent, from R672 million to R786
million. In US dollar terms, including GIP movements, the increase
in costs at the international operations was US$30 million, from
US$92 million to US$122 million. The main reason for this increase
was the increased production at Tarkwa due to the commissioning of
the new mill. Added to this are significant increases in diesel,
steel and reagents over the past year. Operating profit at R554
million (US$85 million) for the September 2005 quarter compares
with R456 million (US$72 million) for the September 2004 quarter.
Profit before tax amounted to R110 million (US$17 million) compared
with the restated R197 million (US$31 million) in the September
2004 quarter. This decrease was mainly due to a change in financial
instruments - from a gain of R152 million (US$24 million) in the
September 2004 quarter to a loss of R9 million (US$1 million) in
the September 2005 quarter. The gain on financial instruments in
September 2004 was mainly the marked to market gain on the Mvela
interest rate swap which was closed-out in the June 2005 quarter.
Earnings decreased from the restated R89 million (US$14 million) in
the September 2004 quarter to R39 million (US$6 million) in the
September 2005 quarter. Earnings excluding gains on financial
instruments, foreign debt and exceptional items increased from a
restated loss of R18 million (US$3 million) in the September 2004
quarter to a profit of R44 million (US$7 million) this quarter.
Capital and development projects Cerro Corona During the past
quarter, a third round of workshops was held in six local
communities with the assistance of the Peruvian Ministry of Energy
and Mines (MEM). During July the official public hearing for the
Project, which was directed by the MEM, was held in the nearby
community of Hualgayoc with over 2,500 people in attendance. In
general participants at the hearing demonstrated a high level of
support for the development of this project. Subsequent to these
meetings, public and regulatory comments on the Environmental
Impact Study were invited. This public engagement process has
generated extensive questions and commentary, to which we are now
responding. Although the scope of this is very broad, approval of
the EIA is still anticipated in the December quarter. Voluntary
public information workshops continue to be held in the project's
area of influence to keep the local populace up to date on the
project status and site activities. Site work during the period
remained largely focused on geotechnical activities in support of
the ongoing design engineering work being developed by Hatch, the
engineering and procurement contractor. Construction of a project
perimeter wall was begun using local companies and labour. The
detailed engineering design work for the plant and tailing facility
continued. Hatch completed a plus or minus10 per cent capital and
operating cost estimate, which is currently being reviewed. A
project decision is expected in the last quarter of the calendar
year. North American Palladium and Gold Fields Announce
Option/Joint Venture on the Arctic Platinum Project On 18 October
2005, North American Palladium Ltd. ("NAP") and Gold Fields Limited
("Gold Fields") announced the intent to form a joint venture to
further explore mining properties and develop a mine at the Arctic
Platinum Project ("APP") located in Finland. APP's location and
geology are quite similar to that of NAP's Lac des Iles mine in
Northwestern Ontario and will permit NAP to utilise its operating
and development experience in the design and construction of a mine
at APP. NAP will be granted an option to acquire up to a 60 per
cent undivided interest in APP including the Suhanko, SJ Reef and
SK Reef mining properties and claims located south of Rovaniemi,
Finland (collectively the "Project"). NAP's option to acquire its
interest in APP will vest upon NAP satisfying the following
conditions on or before June 30, 2008: (i) completing a US$7.5
million re-scoping study and exploration program and US$5.0 million
feasibility study; (ii) making a decision to develop a mine at the
Project; and (iii) paying Gold Fields up to US$45 million through
the issuance of NAP common shares. The price per share will be the
weighted average trading price on the American Stock Exchange for
11 trading days commencing October 11, 2005. During the next stage
of work, NAP will manage the exploration, engineering and
evaluation activity on APP. The re-scoping study on the Project
will address the following objectives: - define a combined mineable
resource of 5 million ounces of 2PGE + Au at grades greater than
3.0 grams per tonne; - exploration on the SK Reef and SJ Reef
mining projects to drill and examine mining claims that have the
potential to satisfy the target grades, obtain sufficient data to
create a new geological model that supports a combined mine plan
for the Project and identify other high potential geological zones
along the Archaean- Proterozoic contact; - examine various mine
design options to efficiently exploit all identified APP resources
and produce a marketable product in a cost- effective manner; and -
evaluate the metallurgy of various ore types contained within the
Project and categorize as to possible processing options. The
re-scoping and feasibility studies are expected to commence in the
first quarter of 2006 and take approximately 30 months to complete.
Upon NAP's acquisition of an interest in APP, a joint venture of
APP will be formed with NAP holding a 60 per cent interest and Gold
Fields holding a 40 per cent interest. Gold Fields will have a
back-in right to acquire an additional 10 per cent interest in APP
and consideration for such interest will be paid by reducing the
number of NAP common shares issued to Gold Fields by 20 per cent.
NAP will remain operator of the joint venture, which will be
managed under a Joint Venture arrangement. Completion of the
transaction is subject to a number of conditions including among
other things, negotiating and executing a formal option and joint
venture agreement and receipt of all required regulatory and third
party approvals and consents, including the approvals of the
Toronto and American Stock Exchanges and the South African Reserve
Bank. The execution of this transaction delivers Gold Fields'
previously stated intent with respect to this project, viz that: -
APP is a very significant discovery of PGM's which could at some
stage be developed; - a deal would only be undertaken should a
partner be found who could add strategic value to the project and
which would introduce a different approach to the development. The
involvement of NAP brings a new phase of work to the examination of
the viability of this project and the involvement of a company with
demonstrated expertise on this type of project and in arctic
operating conditions. Exploration and corporate development Gold
Fields continued its exploration program with drilling on seven
projects during the quarter. In addition, two projects were
relinquished and two new projects were applied for or letter
agreements reached. At the Essakane project in Burkina Faso, Gold
Fields together with joint venture partner Orezone Resources
Inc.(TSX: "ORZ") continues to drill the Essakane Main Zone as part
of a planned pre-feasibility study expected to be completed during
2005. The pre-feasibility study will be using an interim resource
calculation completed by Gold Fields. A new resource calculation
has been delayed until the first quarter of calendar 2006 pending
oriented core confirmation of the geologic model and resolution of
assay quality assurance - quality control (QA-QC) issues associated
with coarse particulate gold. Fieldwork was suspended at the 85 per
cent Telikan and 68 per cent Mansounia projects in Guinea due to
the onset of the rainy season. At the 80 per cent owned Kisenge
project in the southern DRC, mechanised auger sampling of the
extensive termite geochemical anomalies continues. Follow-up
reverse circulation (RC) drilling began at the end of September. A
letter of intent was signed with Glencar Mining plc (AIM: "GCM") on
their 85 per cent Sankarani project in south-western Mali. This
agreement is subject to due diligence and a formal option agreement
as well as governmental approvals. In the European region, Gold
Fields relinquished its option on the Monte Ollasteddu prospect in
Sardinia with Medoro Resources (TSX-V: "MRL"). In Serbia, GFI bid
on two government tenders for the Kuruga and Kupjatra licences in
the Crni Vrh region. Four companies have submitted bids and at
quarter end these were being evaluated by the Serbian officials.
Gold Fields completed regional reconnaissance in three parts of the
Russian Far East and has examined some 70 prospects. At the Central
Victoria project in Australia, availability of drill rigs has
slowed our confirmation work on the 3.2 kilometre mineralised
horizon on Gold Fields 100 per cent owned Lockington tenement.
Aircore and follow-up diamond drilling began in September. Our
joint venture with Geoinformatics Exploration Inc. (TSX-V: "GXL")
in New South Wales continued during the quarter with prospect
ranking. In China, initial core drilling was completed on the
Heishan JV in Shandong province, part of the Shandong JV with Sino
Gold. No significant results were encountered. Fieldwork continues
on the Fujian JV with partners Zijin Mining (HKSE: "2899")
including geologic mapping and stream sediment sampling of the
Fujian epithermal belt. Our 8.4 per cent equity holding in Sino
Gold (ASX: "SGX") continues to deliver results with the start of
construction at Jinfeng and interesting drill results at depth on
this project. Fieldwork also began during the quarter on the
Heilongjiang joint venture in north-eastern China. Comaplex
Minerals Corp (TSX: "CMF"), a Canadian company that is exploring
the Meliadine project in the Nunavut province in which Gold Fields
owns a 19.8 per cent interest, completed and partially reported on
15,800 metre drilling programme. Gold Fields is providing technical
assistance to Comaplex during this programme. GoldQuest Mining
Corporation (TSX Venture: "GQC") in which Gold Fields has a 9.75
per cent interest has reported encouraging trench results from its
Las Tres Palmas prospect in Dominican Republic. During the quarter,
Committee Bay Resources (TSX: "CBR") completed a 6,200 metre
drilling programme on the Committee Bay project. They have expended
approximately C$8 million towards their C$10 million spending
requirement before GFI makes its election to participate in this
project or sell its 55 per cent interest for 7 million shares in
CBR. CMQ Resources Inc. (TSX Venture: "CMQ") in which Gold Fields
has a 9.7 per cent interest has completed a 5,400 metre drilling
project on their Nevada properties. Drilling was completed on the
60 per cent owned Nayca prospect in central Peru during the
quarter, with no significant results to report. This prospect is
part of the Puquio JV with Peruvian miner Buenaventura (NYSE:
"BVN"). In another joint venture with BVN surrounding the 80 per
cent Cerro Corona prospect, drilling began late in the quarter. At
the El Callao project, a 50:50 joint venture with 11.4 per cent
owned Bolivar Gold Corp. (TSX: " BGC") in Venezuela, RC and diamond
drilling continued during the quarter. Several interesting results
were received at the Capia and Mexico prospects that were reported
on by BGC. Implications of adopting IFRS 2, share-based payments
IFRS 2, Share-based payments becomes effective for Gold Fields for
the financial year ending 30 June 2006. In terms of the IFRS, Gold
Fields now recognises the cost of share options (share-based
payments) from 1 July 2005. IFRS 2 requires that all options
granted after 7 November 2002, but not vested by 1 July 2005 be
accounted for. Gold Fields' has adopted an appropriate valuation
model to fair value the employee share options. The value of the
share options has been determined as of the grant date of the
options and has been expensed on a straight line basis over the
vesting period. Based on this model, the following costs for the
financial years ending after 7 November 2002 have been accounted
for as follows: F2003 R5.2 million (US$0.8 million) (against
opening retained earnings) F2004 R32.6 million (US$5.2 million)
(against opening retained earnings) F2005 R52.0 million (US$8.4
million) (restatement of F2005 comparatives) F2006 R15.6 million
(US$2.5 million) (current year - September 2005 quarter only) The
corresponding entry for the above adjustments was shareholders'
equity within the share-based payment reserve. The effect on
opening shareholders' equity is nil. The F2005 annual net earnings
of R180 million (US$29 million) have been restated to R128 million
(US$21 million), the difference being the share based costs for
that year. This cost of R52 million (US$8 million) has been spread
equally over the relevant quarters in F2005 (June 2005 quarter: R13
million (US$2 million) and September 2004 quarter: R13 million
(US$2 million)). These costs are included in other expenses.
Earnings per share, headline earnings, headline earnings per share
and diluted earnings per share have also been restated. Outlook
Gold production at the South African and international operations
should increase in the December quarter. Cash costs should decrease
accordingly. Basis of accounting The unaudited quarter has been
prepared on the International Financial Reporting Standards (IFRS)
basis. The detailed financial, operational and development results
for the September 2005 quarter are submitted in this report. These
consolidated quarterly statements are prepared in accordance with
IAS 34, Interim Financial Reporting. The accounting policies used
in the preparation of this report are consistent with those applied
in the previous year-end, except for the adoption of IFRS 2 - share
based payments and the adoption of the revised international
accounting standards forthcoming from the IAS improvements project
and new IFRS issued by the International Accounting Standards
Board. I.D. Cockerill Chief Executive Officer 26 October 2005 FIRST
ADD -- TABULAR MATERIAL -- TO FOLLOW DATASOURCE: Gold Fields
Limited CONTACT: Corporate Secretary: Cain Farrel, +27-11-644-2525,
Fax, +27-11-484-0626, , Gold Fields Limited, Johannesburg,
+27-11-644-2400, Fax, +27-11-484-0626, LONDON: +44-20-7499-3916,
Fax, +44-20-7491-1989, American Depository Receipts Transfer Agent,
Bank of New York, 1-888-269-2377, , Investor Relations, South
Africa: Willie Jacobsz, +27-11-644 2460, Fax, +27-11-484-0639, ,
Nerina Bodasing, +27-11-644-2630, Fax, +27-11-484-0639, , North
America: Cheryl A Martin, +1-303-796-8683, Fax, +1-303-796-8293, ;
TRANSFER SECRETARIES: South Africa, Computershare Investor Services
2004 (Proprietary) Limited, +27-11-370-5000, Fax, +27-11-370-5271,
United Kingdom: Capita Registrars, +44-20-8639-2000, Fax,
+44-20-8658-3430 Web site: http://www.goldfields.co.za/
http://www.gold-fields.com/
Copyright
Gold Fields (NYSE:GFI)
Historical Stock Chart
From May 2024 to Jun 2024
Gold Fields (NYSE:GFI)
Historical Stock Chart
From Jun 2023 to Jun 2024