Gold Fields on Track to Achieve Guidance of 840koz for Q2 F2009
December 23 2008 - 4:00AM
PR Newswire (US)
JOHANNESBURG, South Africa, December 23 /PRNewswire-FirstCall/ --
Gold Fields Limited (Gold Fields) (NYSE, JSE, DIFX: GFI) today
updated its operational guidance for Q2 F2009. Group attributable
production for Q2 F2009 is expected to be approximately 840,000
ounces, which is in line with the guidance published on 29 October
2008. Group cash costs and Notional Cash Expenditure are expected
to be lower than the guidance published on 29 October 2008 due to
favourable exchange rate movements against the South African Rand
and the Australian Dollar relative to those provided in the
guidance. If stated at the exchange rates used in the guidance
($/R8.00 and A$/$0.85), Group cash costs and Notional Cash
Expenditure would have been broadly in line with the guidance of
R149,000/kg ($580/oz) and R229,000/kg ($890/oz), respectively. Nick
Holland, Chief Executive Officer of Gold Fields, said: "We are
pleased with the improved production and good cost control as well
as the progress we are making in terms of delivering the various
projects, which will make a significant difference to the future
profile of Gold Fields. We are well placed to restoring Gold
Fields' production closer to historical levels and in particular,
to achieving a run rate of 1 million ounces per quarter in the near
term. The rehabilitation of the steel infrastructure at the Kloof
Main Shaft as well as the expansion of the Tarkwa Carbon In Leach
(CIL) plant have been substantially completed and are on track to
full production build-up by early January 2009." Detailed results
for Q2 F2009 will be published on 29 January 2009, at 08:00am,
South African time. About Gold Fields Gold Fields Limited is one of
the world's largest unhedged producers of gold with attributable
production of 3,64 million ounces per annum from eight operating
mines in South Africa, Ghana and Australia. A ninth mine, Cerro
Corona Gold/Copper mine in Peru, commenced production in August
2008 at an initial rate of approximately 375,000 gold equivalent
ounces per annum. Gold Fields aims to reach a production rate of
approximately 4.0 million ounces per annum during the March quarter
of 2009. The company has total attributable ore reserves of 83
million ounces and mineral resources of 251 million ounces. Gold
Fields is listed on the JSE Limited (primary listing), New York
Stock Exchange (NYSE) and Dubai International Financial Exchange
(DIFX) New Euronext in Brussels (NYX) and Swiss Exchange (SWX). For
more information please visit the Gold Fields website at
http://www.goldfields.co.za/. DATASOURCE: Gold Fields Limited
CONTACT: Enquires: Willie Jacobsz, Tel +508-358-0188, Mobile
+857-241-7127; Nikki Catrakilis-Wagner, Mobile +27(0)83-309-6720
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