[miningmx.com] – GOLD Fields’ newly acquired Yilgarn South assets helped the group to a 21% increase in December quarter production to 598,000 ounces and took full year output to 2.02 million ounces compared to 2013 forecasts of 1.9 million ounces, the group said in a statement today.
The Yilgarn South mines, bought from Barrick Gold Corporation in October for $300m, produced 114,000 ounces in the December quarter. Gold Fields’ September quarter production totalled 496,000 ounces.
Total cash costs for fourth quarter are expected to be about $780 per ounce which is marginally higher than the $772/oz achieved in the third quarter, it said. Notional cash expenditure (NCE) is forecast to be about $1,030/oz, 3% lower quarter-on-quarter.
Total full-year cash cost of about $810/oz, and NCE of about $1,150/oz are better than revised cash costs of $830/oz and NCE of $1,240/oz, Gold Fields said.
