Gold Fields Limited
Gold Fields Limited
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
Asanko Gold’s 50/50 J/V Asanko Gold Mine in Ghana with Gold Fields has posted record Dec 2019 year (FY/CY19) gold production of 251,044oz from FY/CY18’s 223,152oz (100% basis), exceeding the upper end of 225,000oz-245,000oz guidance.
The output resulted in record proceeds of $US342.4M from gold sales up to 248,862oz from 227,772oz at an average realized price up to $1,376oz from $1,247oz. Preliminary AISC were 5% above guidance of $1,040-$1,060oz at $1,112oz.
South African-based international miner Gold Fields is aiming to reach a construction decision in the first half of 2020 on its 100%-owned Salares Norte gold-silver project in northern Chile after gaining approval from the Atacama Environmental Assessment Commission.
CEO Nick Holland says Gold Fields will now formulate a funding plan for the anticipated $US834M capital expenditure project.
Widespread flood-generated power cuts are shutting down mining operations across South Africa
Analyst flags Dec 2019 qtr Australian gold output rise after Sept qtr fall as local gold mine control doubles to 60% from 2002
Despite attributable Sept 2019 qtr (Q3 19) gold production down to 523,000oz from Q2 19’s 541,000oz, South African-based Gold Fields has lifted revenue (excluding Asanko) to $US1.46B from $1.29B.
However, FY/CY19 attributable gold equivalent production is now expected to be at the upper end of expectations of 2.13Moz-2.18Moz, at AISC $US980oz-$995oz and AIC of $1,075oz-$1,095oz.
Gold Fields now eyeing the top end of FY/CY19’s 2.13Moz-2.18Moz guidance, despite Q3 19 gold production fall
A $US128.3M impairment on Asanko Gold’s half of its 50/50 JV with Gold Fields on the Asanko Gold Mine in Ghana, has helped push the company to a $147.5M net loss for the Sept 2019 qtr (Q3 19) from Q2 19’s $6.1M profit.
Adjusted net income was $800,000, with adjusted EBITDA down to $9.4M from $12.4M
Australia’s newest Tier 1 gold mine, the Gruyere operation 200km E of Laverton in WA, produced 29,107oz during the Sept qtr for 50-50 JV owners Gold Fields and Gold Road Resources.
Gold Road says Gruyere's ramp-up is progressing well after reaching commercial production at end-Sept, slightly ahead of guidance.
The JV reaffirmed FY2019 guidance at the upper end of its 75,000-100,000oz range at AISC of $A1,050-1,150/oz. Forecast LOM production is 300,000ozpa at $1,025/oz over 12 years.
The 50/50 Asanko Gold/Gold Fields Asanko Gold Mine J/V in Ghana, has posted record gold production of 62,440oz in the Sept 2019 qtr (Q3 19) from Q2 19’s 62,067oz and is on track to meet FY/CY19 production guidance of 225,000oz-245,000oz.
Gold Road and partner Gold Fields are targeting production at the upper end of its revised 75,000-100,000oz guidance after reaching commercial production at the end of September at the Gruyere gold project in Western Australia.
Since commencing the ramp-up after commissioning the ball mill at the mine 200km E of Laverton in early Aug, the 50-50 JV has exceeded expectations on throughput rates and gold recoveries and reached commercial production slightly ahead of schedule.