Gold Fields Ltd. (NYSE, JSE:GFI) said Tuesday it will dismiss all miners who fail to return to work by Thursday at its KDC West and Beatrix plants, as the company has lost over 65,000 ounces of gold production because of strikes at its South African operations.
Gold Fields Ltd. Mining News
The intensity of the current wave of protest echoes the far-reaching Durban strikes in 1973, writes Lisa Steyn.
Striking gold miners have rejected the industry's latest wage offer, the National Union of Mineworkers (NUM) said on Thursday, confirming mining companies’ fears of labour unrest lasting longer than expected.
Anglo American Platinum, the world's largest platinum producer, has fired 12,000 workers taking part in a three-week illegal strike after following through on tough talk over wildcat stoppages in South African mines.
Labour unrest at Anglo American Platinum’s South Africa operations spread on Tuesday to a new mine as the company and fellow miner AngloGold Ashanti (NYSE:AU) have hardened their stance on strikers.
Gold Fields Limited announced the appointment of Ghanaian businessman Pierre Charles Coussey as new country manager for the company's operations in Ghana (Gold Fields Ghana Limited and Abosso Goldfields Limited).
AngloGold Ashanti (NYSE:AU) was hit by the mining unrest spreading through South Africa again Tuesday night, as strikers halted all of its operations in the country, which account for 32% of the multinational's total gold production.
A labour strike in demand for higher salaries continued at South Africa's second-largest gold producer, Gold Fields Ld. on Friday, as talks between KDC West miners and the company progress.
The gold mining industry has been digging its own grave by telling just half of the real cost story, Gold Fields (NYSE:GFI) CEO Nick Holland told the audience Thursday at this year’s Denver Gold Forum in Colorado.
Labour unrest spread in South Africa on Monday when 15,000 workers stopped operations at a Gold Fields (JSE, NYSE, NASDAQ Dubai: GFI) mine while few workers reported for duty in the fourth week of a stoppage at Lonmin (LON:JSE) , the world’s third largest platinum mine.
Mining workers dissatisfaction in South Africa has now hit the country's second-largest gold producer, Gold Fields Ld. as about 12,000 employees downed tools at the KDC mine, on Johannesburg's West Rand.
The company has announced that the Environmental Protection Agency (EPA) of Ghana lifted the temporary suspension on Tarkwa Gold Mine's heap leach facilities.
South Africa’s Chamber of Mines said Friday it will set up a special CEO “elimination of fatalities team” in an effort to bring down the number of deaths at the local mines.
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.
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 has purchased a 40% stake in the gold-copper far Southeast project in the northern part of Luzon, Philippines.
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.
Shares of some top gold companies are down at 1 p.m.: Barrick Gold CorpBarrick Gold Corp. fell $.99 or 2.1 percent, to $46.44. Gold Fields fell $.40 or 2.6 percent, to $14.95. GoldCorp. fell $1.30 or 2.6 percent, to $47.83. Newmont Mining CorpNewmont...
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, 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 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 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.
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.
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.
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.