Monday, 31st January 2005 (3585 views)

South African miner Gold Fields has reported profit increases and cost reductions in its latest results.

The world's number four gold miner saw profits rise to R637 million in its December quarter, compared to R456 million in its September quarter results.

Gold Fields chief executive officer Ian Cockerill told Business Report: "Gold Fields is in excellent shape with all operations delivering to expectations.

"Performance for the third quarter, traditionally a difficult period as it includes the effects of the Christmas break, is expected to improve yet again."

Production was also up over the period, with the amount of gold mined up by four per cent and Tarkwa mill work up by 34 per cent.

However, some costs were up as a result of the company's IAMGOLD merger bid.

 

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