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Gold Fields sees improved gold output
Allan Seccombe
Posted: Wed, 25 Jun 2008

[miningmx.com] -- GOLD Fields forecast improved gold production at its South African operations, pushing up attributable output for the group in the fourth quarter of its 2008 financial year by 4.5% against the previous quarter.

Gold output at its international mines in Ghana and Australia will be flat compared to the third quarter, the company said in a statement. The results will be released on 1 August.

"South African production for Q4 F2008 is expected to be up by approximately 6.6% against the production achieved for Q3 F2008, which is better than the previous guidance of an improvement of between 2% and 4%, due mainly to improved quality mining at Beatrix," it said.

South African gold production in the March quarter was 21% lower because of the power disruptions. The South African mines saw output fall to 520,000 oz in March from 657,000 oz before. The international operations increased output to 307,000 oz from 303,000 oz.

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Cash cost for the quarter are seen as similar to the previous period.

Gold Fields had said at the release of its March quarter results South African production was expected to be about two to four percent higher in the June quarter compared to the preceding period.

The Beatrix mine was the hardest hit of the three South African operations in the March quarter, with production down to 81,700 oz in the March quarter from 118,900 oz the previous quarter because of the disruptions of electricity supply and lower volumes in a holiday-impacted January.