miningmx
TODAY In Gold & Silver ›

Gold Fields output disappoints

Reuters | Fri, 08 Apr 2011 09:01

Print this page Send this article to a friend
Share

-- Gold Fields said on Friday that its attributable group production for the March quarter was expected to decline from the previous quarter to about 830 000 ounces.

"As expected production is lower than that achieved in the previous quarter (900 000 ounces), almost entirely due to the customary Christmas break in South Africa, when all mines close for two weeks," it said in a brief guidance for investors.

"The guidance of between 3.5 and 3.7 million ounces for the full year 2011, provided on 18 February 2011, takes account of the seasonal decline in production in South Africa which typically affects the March quarter," it added.

It said March production would still be five percent higher than the corresponding period a year ago.

One analyst said the number was on the low side.

"It looks slightly negative, I had hoped for a higher number," said one Johannesburg-based analyst.

The world's fourth-largest gold producer also said total cash costs and notional cash expenditure are expected to be approximately $750/oz and $1 090/oz respectively.



special reports
News Alert! Subscribe to our Free News Alert
Most Read
Commented
Ed's Choice
  1. »Miners ponder capital spend as distress mounts
    by David McKay | 16 May 2012 15:13
  2. »Great Basin's Burnstone starts road to recovery
    by David McKay | 15 May 2012 16:37
  3. »Gold One embarks on share liquidity drive
    by André Janse van Vuuren | 16 May 2012 11:22
  4. »AngloGold exec's exercise share options
    by Miningmx | 15 May 2012 09:50
  5. »Anooraq/Atlatsa: new name, same problems
    by André Janse van Vuuren | 14 May 2012 18:03
  1. » Transnet unveils concept for own coal terminal
    by David McKay | 11 May 2012 11:05
  2. » Tata Power moots SA 'stranded coal' plan
    by David McKay | 10 May 2012 16:20
  3. » Eskom, Anglo negotiate 'cost plus' Kusile deal
    by David McKay | 08 May 2012 11:39
  4. » First Uranium outlines stark choices
    by André Janse van Vuuren | 08 May 2012 22:15
  5. » More creditors knock on LontohCoal’s door
    by Mpho Sibanyoni | 30 Apr 2012 09:01
More news from Gold & Silver
  • › The golden doldrums
  • › Great Basin in R80m BEE tiff with Gold Fields
  • › Investec sees gold at $1,850
  • › Gold One secures financing for deals
  • › Central Rand Gold seeks image makeover
  • › Mining policies inconsistent - Cutifani
  • › Randgold's Malian assets operational
  • › No quiet exit for First Uranium
  • › Gold Fields 'committed' to Mali - report
  • › Aurora ‘virtually a Ponzi scheme’
    • podcastsPodcasts
    Big opinions by big guys.     RSSRSS Feeds
    News delivered really simply.
    jobsJobs
    Current listings.     eventsEvents
    Current listings.
    jseJSE Listed stocks
    15 Minute Delay
    special reportsFREE News Alert!
    Subscribe to our News Alert