Gold Fields (JSE, NYSE, NASDAQ Dubai: GFI) cut its gold production guidance for its second quarter by 2.8% to 900,000 ounces. The previous guidance, released on 29 October 2009 was for 925,000 ounces.
Gold Fields said the lower production was related primarily down to seven days of lost production at the company’s Driefontein Mine in South Africa, which was hit by a seismic event in December and required an extended search and rescue operation.
“In line with the lower production, total cash costs and notional cash expenditure (NCE) for the Group are expected to be approximately US$615/oz and US$900 respectively, which is approximately 4% and 3% higher than guidance.” http://www.proactiveinvestors.com/companies/news/3517/gold-fields-cuts-second-quarter-production-guidance-by-25000-ounces-3517.html
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