Gold Fields Limited – Media Release – Gold Fields On Track To Achieve
Gold Fields Limited (Gold Fields) (NYSE, JSE, FX: 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.
Enquires
Willie Jacobsz
Tel +508 358-0188
Mobile +857 241-7127
Nikki Catrakilis-Wagner
Mobile +27 (0) 83 309-6720
ends
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 www.goldfields.co.za.
Date: 23/12/2008 10:09:21 Supplied by www.sharenet.co.za
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