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Gold Fields releases Production Guidance for Quarter ended 30 September 2005
Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
Share Code: GFI
ISIN Code: ZAE000018123
MEDIA RELEASE
Gold Fields releases Production Guidance for Quarter ended 30 September 2005
Johannesburg, 3 October 2005. Gold Fields Limited (GFI: JSE, NYSE) today issued
revised production guidance for the quarter ended 30 September 2005.
Gold production has declined by approximately 8% to 993,000 ounces for the
quarter. Between 3 and 4% of the decline is attributable to the strike
experienced at the South African operations during the quarter. The balance is
attributable to the international operations, reflecting comparison against out
performance in the June quarter and short-term operational issues.
Production at the South African operations declined by approximately 40,000
ounces to 647,000 ounces. Driefontein and Kloof performed largely as expected
with both operations impacted by the strike and Kloof experiencing continuing
grade problems. As expected Beatrix experienced haulage constraints at 20
level, 4 shaft, due to smectite problems flagged during the previous quarter.
These problems were corrected within the eight-week period previously indicated.
Production from the affected areas returned to normal during the month of
September. In addition, the impact of the strike was exacerbated at both Beatrix
and Kloof due to a slower than expected start-up after the strike.
Production at the international operations declined by approximately 45,000
ounces to 346,000 ounces. The main contributors to the decline were Tarkwa and
St Ives.
Tarkwa declined by approximately 18,000 ounces to 124,000 ounces (attributable).
Approximately one third of the decline was as a result of a Gold in Process
(GIP) release in the June quarter which changed to a GIP increase during the
September quarter. The balance is owed to reduced volumes to the mill; mill feed
mix issues; and an out performance of the leach pads during the June quarter,
which was highlighted previously.
St Ives declined by approximately 23,000 ounces to 120,000 ounces. Roughly one
third of the reduction is attributable to a planned mill shutdown and the
inclusion of clean up from the old mill in the June quarter, offset by GIP moves
in the mill. The other two thirds is largely attributable to a short-term
reduction in the volume of high-grade ores from the underground mines, which was
flagged in the previous quarter.
Damang experienced a 2.4% decline in production and Agnew a 4.6% decline, both
of which were planned declines off unusually high bases during the June quarter,
and were indicated during the previous guidance.
By the end of September operations had returned to normal and indications are
that production is on track for a good December quarter.
ends
Date: 03/10/2005 12:07:05 PM Produced by the JSE SENS Department
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