SA Gold Fields sees Q1 output at 476,000 ounces

By bne IntelliNews April 4, 2013

South Africa-based gold miner Gold Fields said its attributable group production for the first quarter of 2012, excluding any contribution from unbundled Sibanye Gold, is expected to be 476,000 gold-equivalent ounces. The company forecast its cash costs to be approximately USD 830/oz and NCE to be about USD 1,290/oz. The projected performance is in line with Gold Fields’ 2013 production guidance of between 1.8 million and 1.9 million ounces and the cash cost and NCE guidance of USD 860/oz and USD 1,360/oz, respectively.

Gold Fields listed Sibanye Gold, which contains most of its domestic assets, on the Johannesburg Stock Exchange (JSE) in February 2013. Gold Fields said its Q1 report would include, for accounting reasons, two months of production (January and February 2013) from Sibanye Gold. On that basis, production is expected to be at around 662,000 gold-equivalent ounces, while total cash costs are seen at USD 915/oz and NCE is seen at USD 1,325/oz. Gold Fields plans to release its Q1 report on May 10, 2013.

After the spin off of Sibanye Gold, Gold Fields’ mining operations now comprise open-pit or shallow underground operations in Ghana, Peru and Australia, the South Deep project in South Africa - a deep-level, bulk underground mechanised operation, as well as international exploration and development projects.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Nigeria set to approve Seplat's acquisition of ExxonMobil assets within two weeks

The Nigerian government is poised to greenlight ExxonMobil's $1.28bn asset sale to Seplat Energy within the next two weeks, pending resolution on critical issues related to decommissioning and host ... more

Atlantic Lithium approved to list on Ghana Stock Exchange (GSE)

Atlantic Lithium Ltd., an African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, has been approved to list on the Ghana Stock Exchange (GSE), ... more

Uncut diamond giant Alrosa must sell stake in Angola's Catoca, Russian deputy FM says

Russian uncut diamond major Alrosa will have to sell its stake in Angola's Catoca diamond mining company owing to the latter's concerns about the prospects for collaborating with the sanctioned ... more

Follow Us On

Most Read

  1. Shocking trial of ex-minister has shifted domestic violence attitudes in Kazakhstan, says brother
    3 days ago
  2. Cheap Russian drones overwhelm US-made Abrams tanks, taken out of action
    9 days ago
  3. The models are wrong, climate change is accelerating faster than predicted
    10 days ago
  4. COMMENT: Aliyev continues to block the chance of peace in the South Caucasus
    5 days ago
  5. Central European populism bites the hand that feeds it
    5 days ago
  1. Albanians campaign on social media to keep bus bridge created in freak accident
    2 years ago
  2. Saudi Arabia to scale back plans for Neom city
    25 days ago
  3. Iran vs Israel: Who is better equipped for war?
    21 days ago
  4. Leading emerging markets move rapidly up World Bank’s PPP GDP and FDI confidence rankings
    26 days ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    6 months ago

Reports

Dismiss