PRODUCTION EXPECTED TO INCREASE BY BETWEEN 5% & 6%
GOLD FIELDS LIMITED - GOLD FIELDS PRODUCTION EXPECTED TO INCREASE BY BETWEEN 5%
AND 6% IN DECEMBER QUARTER
GOLD FIELDS LIMITED
Registration number: 1968/004880/06
ISIN: ZAE000018123 JSE Code: GFI
(`Gold Fields` or the `company`)
GOLD FIELDS PRODUCTION EXPECTED TO INCREASE BY BETWEEN 5% AND 6% IN DECEMBER
QUARTER
Johannesburg, 17 November 2004: Shareholders of Gold Fields Limited (GFI: JSE
and NYSE) are advised that production for the December 2004 quarter (Q2 F2005)
is expected to increase by between 5% and 6% over that reported in the September
2004 quarter (Q1 F2005), with the South African operations expected to improve
by approximately 3%.
Rand per kilogram unit costs are expected to improve by approximately 2%, and
total rand per ton costs by more than 5%, on a group-wide basis, despite
continuing inflation pressures. The Group margin is expected to increase from
17% to between 20%-23% while the margin for the South African operations is
expected to be restored to double digits.
These expected improvement are largely due to the flow-through of benefits from
sustainable revenue enhancement and cost reduction projects implemented
specifically at Gold Fields` South African operations over the past year.
Commenting on the improved operating performance expected for the December
quarter, Ian Cockerill, Chief Executive Officer of Gold Fields said, `The
performance from our South African operations has been excellent. We are now
benefiting from the positive effects of the strategic repositioning of our high
quality South African assets over the past year. The commitment of our people to
our revenue enhancement and cost management initiatives are bearing fruit, and
we will continue to deliver value to our shareholders.`
Gold Fields shareholders are advised that the information described above has
not been reviewed and reported on by Gold Fields auditors as referred to in
either paragraph 3.4(B)(vi)(1)(aa) or (bb) of the JSE listing requirements
Johannesburg
18 November 2004
ENDS
Date: 18/11/2004 03:10:04 PM
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