Gold Fields Ltd.

Gold Fields Q1 earnings fall but beat market estimates

Despite reporting an 18% drop in its quarterly earnings, South Africa's Gold Fields beat market estimates as output and the bullion price in South African rand both fell.

Gold Fields eyes Abitibi greenstone belt with C$40m Bear Lake option

A major gold producer – Gold Fields – and a small Canadian junior – Bear Lake – team up in one of the world's major gold belts – the Abitibi greenstones.

Gold Fields acquires stake in Philippine mining project

Gold Fields has purchased a 40% stake in the gold-copper far Southeast project in the northern part of Luzon, Philippines.

Gold Fields buys 40 pct stake in Philippine gold/copper project

The world's fourth-largest bullion producer acquired the stake after making a $110 million down payment this week and retained the option to acquire an additional 20% in the Far Southeast Project.

Gold Fields says Ghana tax plan may halt $1 billion projects

Gold Fields Ltd., the fourth-biggest producer of the metal, said Ghana’s plan to raise tariffs on mines and introduce a windfall tax could force it to halt expansion projects worth $1 billion in the country.

Gold Fields to produce 1m oz gold in S. America

Gold Fields, the world's fourth-largest gold producer, aims to produce one-million ounces of the precious metal per year in South America by 2015, the company's regional chief said on Wednesday.

Gold Fields fatalities at KDC Mine

Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) regrets to announce the death of two employees at the Number 7 Shaft at its KDC East (formerly Kloof) mine after a seismic-related accident. Another five employees were injured, of whom two were hospitalised and are in a stable condition. The other three employees suffered only minor injuries.

Gold Fields fatalities at KDC Mine

Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) regrets to announce the death of two employees at the Number 7 Shaft at its KDC East (formerly Kloof) mine after a seismic-related accident.

Q2 output to rise 5% – Gold Fields

Gold Fields, the world's fourth largest gold producer, said on Tuesday it expects production to rise as much as 5% in the second quarter to approximately 872,000 gold equivalent ounces.

South Africa gold miners hammered as costs spiral

By early afternoon on Thursday 7.5% or over $400m had been wiped off the value of Harmony Gold Mining stock in New York, the worst performer in an index of 50 of the largest gold and silver counters. Other South African gold miners were also punished with both Anglogold Ashanti and Gold Fields down over 5%.

Some South African produces are struggling with cash outlays of $1,200/ounce – almost double the global average – thanks to a strong currency, wage disputes, power supply problems and geological issues. As the gold price eases as much as 180,000 oz of quarterly production are being put at risk.

Gold Fields Ghana acquisition approved

Further to the announcement on 15 April 2011, Gold Fields announced that its shareholders have overwhelmingly approved the US$667 million acquisition of IAMGOLD Corporation's 18.9% stake in the Tarkwa and Damang gold mines in Ghana.

Of the 603 million shares (84% of total shares in issues) that were voted at a general meeting 93% were cast in favour of the transaction.

Buyers could line up for Harmony’s massive Papua New Guinea find

The takeover rumour mill is working overtime as speculation about the size of Harmony Gold’s Wafi-Golpu deposit increases. Harmony has already been forced to share the planet’s potentially third largest gold and copper mine with Australia’s Newcrest Mining, selling 50% of the project for $525m three years ago.

Now, as the value of Wafi-Golpu climbs – Deutsche Bank recently put it at $9.9bn – and predictions of development cost reach $5bn, other suitors may be lining up for the assets. M&A activity in the gold sector is at a 10-year high and top takeover candidates are Harmony’s South African peer Gold Fields, Canada's Barrick Gold, Newmont Mining and partner Newcrest itself.

BusinessDay: Producers warn on prices even as gold demand rockets

Gold demand surged in the first quarter of this year as purchases of the precious metal for investment climbed 11% to 981.3 tons in the first three months according to the latest World Gold Council report. Much of the increase was as a result of buying of the physical metal – purchases of gold bars and coins shot up 52% year on year to 366 tons, representing a virtual doubling in value to $16bn.

The report from the association of gold producers comes as the biggest producers sound warnings on Monday that any major pullback in the metal’s price below $1,000 could jeopardize the primary supply of gold.

Gold Fields ups stake in La Cima to boost gold output

Tier 1 gold miner Gold Fields has bought nearly all the shares in a Peruvian subsidiary for $382 million to increase its attributable gold production from Cerro Corona mine.

IAMGOLD sells minority stakes in Ghana mines to Gold Fields, faces uncertainty in Burkina Faso

IAMGOLD (TSX: IMG) agreed to sell its 18.9-percent interests in two Ghanaian gold mines, Tarkwa and Damang, to Gold Fields (NYSE: GFI), the majority stakeholder, for $667 million.

The company reasoned it hasn't been getting fair value by investors as minority players in mines in which Gold Fields owns the majority stakes. "Our strategy is to invest in mines that we own and operate, as they represent the best return on investment for our shareholders," Steve Letwin, IAMGOLD president and CEO said in a statement.

Gold Fields says March quarterly production is expected to decline

Gold Fields GFIJ. said on Friday that its attributable group production for the March quarter was expected to decline from the previous quarter to about 830,000 ounces.

"As expected production is lower than that achieved in the previous quarter (900,000 ounces), almost entirely due to the customary Christmas break in South Africa, when all mines close for two weeks," it said in a brief guidance for investors.

Rising commodity prices applying cost pressure for gold miners – Gold Fields

Gold Fields (GFIJ.J), the world's fourth-largest listed gold miner, said on Tuesday rising commodity prices were putting cost pressures on gold miners even as the price of the precious metal itself climbed.

"We are concerned about what we've seen on the commodities front," Chief Executive Nick Holland told the Reuters mining summit, citing oil's recent rally but also other rising costs for key things such as timber and steel.

Gold Fields to buy out Peruvian unit

Gold Fields (GFIJ.J: Quote), the world's fourth-largest listed gold miner, said on Tuesday it had offered to buy out the remaining shares of its Peruvian unit to boost the group's total production of the precious metal.

Gold Fields December quarter guidance in line with expectations

Johannesburg: Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) has announced that attributable Group production for the December quarter 2010 is expected to be approximately 900,000 oz, which is similar to last quarter and in line with

Gold Fields CEO says Philippines "definitely opening up" to major mining companies

As Gold Fields announced this week it would invest $120 million to determine if the company should acquire a 60% interest in the Far Southeast gold-copper deposit, Gold Fields CEO Nick Holland noted "the Philippines are definitely opening up" to …

Consolidating information into one program

Gold-mining major Gold Fields has turned to information technology solutions provider Integr8 to move 7,000 users across the globe onto a consolidated Microsoft Active Directory and Exchange environment, in one of the most complex coexistence deployments undertaken by a South …

Gold Fields awards Tarkwa gold plant studies to MDM

Gold Fields Ghana has awarded MDM Engineering Group a study contract for optimising the reclamation and re-processing of one of its leach pads and of its crushing plant at Tarkwa. Read more

Gold Fields and Buenaventura Announce Major Gold Discovery in Southern Peru

Chucapaca's joint venture partners, Gold Fields Limited (51%) (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) and Compania de Minas Buenaventura S.A.A. (49%) (Buenaventura, NYSE: BVN), are pleased to announce the discovery of a major gold-copper-silver deposit in their Chucapaca project …

Gold Fields' Driefontein tailings project awarded to MDM

South Africa's MDM Engineering Group has announced that it has been appointed as the metallurgical engineering consultant for the phased Bankable Feasibility Study (BFS) at Gold Fields' Driefontein mine's Tailings Retreatment project.

Gold Fields to up output at South Deep mine

Gold Fields (GFIJ.J), the world's No. 4 gold producer, has started deepening a shaft at its South Deep mine in South Africa, one of the world's largest gold mines, in a bid to boost output. Read more at http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=103165&sn=Detail