| Tue 23 Feb 2010, 12:05 | | GFI - Gold Fields Limited - Gold Fields Revises Guidance For Q3 F2010 On The |
|
GFI
GOGOF
GFI - Gold Fields Limited - Gold Fields Revises Guidance For Q3 F2010 On The
Back Of Safety Interventions At Kloof Gold Mine
Gold Fields Limited
Incorporated in the Republic of South Africa
Registration number 1968/004880/06
Share code: GFI
Issuer code: GOGOF
ISIN - ZAE 000018123
MEDIA RELEASE
GOLD FIELDS REVISES GUIDANCE FOR Q3 F2010 ON THE BACK OF SAFETY INTERVENTIONS
AT KLOOF GOLD MINE
Johannesburg, 23 February 2010: Gold Fields Limited (Gold Fields) (JSE, NYSE,
NASDAQ Dubai: GFI) today announced that Q3 F2010 production for the Group will
be approximately five percent below the previous guidance of 850,000 ounces
provided on 4 February 2010. It is expected that the lower production will
negatively impact cash costs and NCE on a per ounce basis.
This follows a decision to accelerate the replacement of a water pump column
in the Main Shaft at the Kloof Gold Mine in South Africa, which was previously
scheduled for replacement later in the year.
The decision to accelerate the replacement of the column is consistent with
the Group`s philosophy of "if we cannot mine safely, we will not mine", as
well as the "stop, think fix, verify and continue programme", and was taken
after certain sections of the column showed significant corrosion, resulting
in the pre-mature failure of some of those sections.
Production is expected to return to normal levels by the end of the March
Quarter (Q3 F2010), and production for the June Quarter (Q4 F2010) should be
close to recent levels of production of approximately 5,000 kilograms of gold.
About Gold Fields
Gold Fields is one of the world`s largest unhedged producers of gold with
attributable production of 3.6 million ounces* per annum from nine operating
mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an
extensive growth pipeline with both greenfields and near mine exploration
projects at various stages of development. Gold Fields has total attributable
Mineral Reserves of 81 million ounces and Mineral Resources of 271 million
ounces. Gold Fields is listed on JSE Limited (primary listing), the New York
Stock Exchange (NYSE), the Dubai International Financial Exchange (DIFX), the
Euronext in Brussels (NYX) and the Swiss Exchange (SWX). For more information
please visit the Gold Fields website at www.goldfields.co.za.
*Based on the annualised run rate for the fourth quarter of F2009
Registered Office:
150 Helen Road
Sandown, Sandton
2196
Postnet Suite 252
Private Bag X30500
Houghton, 2041
South Africa
Tel: +27 11 562 9700
Fax: +27 11 562 9838
www.goldfields.co.za
Enquiries:
Media and Investor Enquiries:
Willie Jacobsz
Tel: +508 839 1188
Mobile: +857 241 7127
Email: willie.jacobsz@gfexpl.com
Nikki Catrakilis-Wagner
Tel: +27 11 562 9706
Mobile: +27 83 309 6720
Email: nikki.catrakilis-wagner@goldfields.co.za
Media Enquiries:
Julian Gwillim
Tel: +27 11 562 9774
Mobile: +27 82 452 4389
Email: julian.gwillim@goldfields.co.za
Sponsor:
J.P. Morgan Equities Limited
Date: 23/02/2010 12:05:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
