TORONTO (miningweekly.com) – The Christmas break in South Africa and mine scheduling at the other operations led to lower output for the three months ended March 31, triple-listed miner Gold Fields said on Tuesday.
Despite the lower production being planned, output in the period was down 10% quarter-over-quarter to 501 000 oz of gold, compared with 556 000 oz in the prior quarter.
As a result, all-in sustaining costs (AISC) of $1 145/oz in the period were 12% higher compared with $1 023/oz in the fourth quarter, while all-in costs (AIC) were $1 165/oz against $1 047/oz in the preceding quarter.
Notwithstanding the slow start to the year, Gold Fields reiterated its 2015 guidance of 2.2-million attributable gold equivalent ounces at AISC of $1 055/oz and AIC of $1 075/oz.
The company, with operations in South Africa, Ghana, Australia and Peru, expected to release its first-quarter financial results on Thursday, May 7.