Thursday, 28th April 2005 (3171 views)

Gold Fields has reported a rise in first quarter production results today.

The South African gold producer revealed earnings reached R9 million for the quarter ending March 31st and gold production was up by four per cent compared to the quarter before.

Gold production reached 1,088 million ounces and South African operations made up 65 per cent of the total output.

CEO, Ian Cockerill, said: "This is a challenging time for the South African gold-mining industry and I am delighted with the way all of our employees have responded magnificently to the twin challenges of the difficult operating environment and the continuing saga of the hostile Harmony offer."

However operating profit was down due to the lower rand gold price and production.

Gold Field is currently at the centre of an unwanted takeover by Harmony Gold.

 

« Back to Gold News stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.