Gold Fields expects 862,000 gold ounces production in 2012 second quarter

Gold Fields Limited on July 4, 2012 said it expects attributable Group production for second quarter of 2012 to be 862,000 gold equivalent ounces (oz).

This, the miner indicated, is similar to the production for the corresponding quarter a year ago which was 872,000 oz and 4% higher than 2012 first quarter 827,000 oz.

According to Gold Fields, who also mines gold in Ghana, total cash costs and notional cash expenditure (NCE) for the 2012 second quarter are also expected to be approximately$855 per ounce and $1,310 per ounce respectively.

This is in line with the annual guidance provided in February of $860/oz for cash cost and $1,300/oz for operational NCE, the company added.

The miner’s anticipated capital project expenditure is between $40 per ounce and $70 per ounce.

Full results for second quarter 2012 will be released August 23, 2012, it noted.

By Ekow Quandzie