Gold Fields on track with production guidance

by Trust Matsilele 0

Gold Fields Limited, a leading South African gold mining firm said it is on track with its production guidance.

Gold Fields’ September 2014 quarter guidance said the group was revising the February 2014 projection. 

(READ MORE: Gold Fields production up 21 per cent due to a shift in strategy)

“Gold Fields remains on track to achieve its production guidance for the full-year 2014, of approximately 2,200,000 ounces of gold equivalent production, as published on 13 February 2014,” said the company.

[DATA GFI:Gold Fields Limited] also said attributable gold equivalent production for the quarter was expected to be approximately 559,000 ounces at All-in Sustaining Costs (AISC) of US$1,074/oz and All-in Costs (AIC) of US$1,096/oz.

The group said it expected its costs for the full year to be lower that published earlier in the year. 

(WATCH VIDEO: Gold Fields swings to Q3 profit)

“Costs for the full year, however, is expected to be lower than the guidance published on 13 February 2014,” reported the company.

“AISC guidance for the full year is revised down to approximately US$1,090/oz (previously US$1,125/oz) and AIC guidance is revised down to approximately US$1,130/oz (previously US$1,150/oz).”

Gold Fields will release its full results for Q3 2014 on Thursday, 20 November 2014.