LONDON--Gold Fields Ltd (GFI.JO), an un-hedged producer of gold
with operating mines in South Africa, Peru, Ghana and Australia
Thursday posted a 10.9% rise in profit during the second quarter,
but said the outlook for attributable gold production for the year
is unlikely to exceed 3.4 million gold equivalent ounces.
MAIN FACTS:
-The company posted pretax profit of 2.64 billion South African
rand, compared with ZAR2.38 billion a year earlier
-Revenue ZAR11.36 billion versus ZAR9.58B
-Operating profit ZAR5.39 billion versus ZAR9.58B
-Net profit ZAR1.61 billion versus ZAR1.51 billion
-Headline earnings per share 230 cents versus 176 cents
-Diluted headline earnings per share 230 cents versus 176
cents
-Interim dividend of 160 cents per share
-Group attributable equivalent gold production of 862,000
ounces
-Total cash cost of $851 per ounce and NCE of $1,308 per
ounce
-Operating margin of 47% and NCE margin of 18%
-Good progress made on South Deep project; and Stabilization of
production output at KDC.
-The gold production outlook for the year will be impacted by
the fire at the Ya-Rona shaft at KDC, safety stoppages at Beatrix
and the temporary suspension of the heap leach facilities at Tarkwa
as well as industrial relations risks at South Deep following the
issue of the Section 189 (3) notice.
-Write to Razak Musah Baba at razak.baba@dowjones.com
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