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Gold Fields maintains production guidance, but South Deep to miss FY target

By: Creamer Media Reporter      23rd October 2017 JSE- and NYSE-listed Gold Fields still expects to meet its full-year production guidance of 2.10-million to 2.15-million ounces, despite the fact that output from its South African South Deep mine for the full year is likely to be 5% to 10% below guidance of 315 000 oz. The gold miner, which on... 

It’s time for industry to stand up – Holland

By: Natasha Odendaal     17th August 2017 Dual-listed Gold Fields will oppose the new Mining Charter Three “with everything its got” as the mining industry stands firm in the standoff with the Department of Mineral Resources (DMR). Backing the action taken by the Chamber of Mines (CoM), Gold Fields CEO Nick Holland on Thursday said that,... 

South Deep output 43% down, costs 56% up – Gold Fields

By: Martin Creamer     26th April 2017 Quarter-on-quarter gold production at the South Deep gold mine fell 43% in the first three months of 2017, when costs soared 56%, Gold Fields reported on Wednesday. All-in costs (AIC) at the mechanised mine, located 45 km southwest of Johannesburg, rose to a high level of $1 821/oz in the first... 

Gold Fields set for ‘year of reinvestment’, announces R2.28bn South Deep growth plan 

By: Natasha Odendaal     16th February 2017 The South Deep gold mine achieved several milestones in 2016 as interventions implemented over the past two years started yielding results and dual-listed Gold Fields will now embark on a new R2.3-billion rebase plan at the mine to create a defensive asset in a spiralling industry. Equipped with... 

Damang mine, Ghana

By: Sheila Barradas     11th November 2016 A gold mine, in south-western Ghana and to the north of and joining the Tarkwa concession. 

Gold Fields plans $1.4bn investment to extend Damang’s life-of-mine

By: David Oliveira     4th November 2016 Gold Fields will invest $1.4-billion to extend the life of its Damang mine, in Ghana, from 2017 to 2024, the company announced last month at its third quarter operating update in Johannesburg. Over the life of the mine, 165-million tons will be mined, with 32-million tons processed at a grade of... 

Damang, Tarkwa to receive major cash injection until 2027

By: Sascha Solomons     29th July 2016 South African gold mining firm Gold Fields asserts that a planned $2.5-billion investment in its Tarkwa and Damang operations in Ghana, from now until 2027, will ensure the longer-term sustainability of these mines. Damang will absorb an estimated $500-million, of which a significant portion... 

Gold Fields records solid Q1 results

By: Ilan Solomons     19th April 2016 Gold producer Gold Fields has had a solid start to 2016 with attributable equivalent gold production for the first quarter 3% higher year-on-year at 515 000 oz, compared with the 501 000 oz produced in the first quarter of 2015. In a quarterly operating update for the three months to March 31,... 

Gold mining remains ‘robust’ contributor to Ghana’s economy despite price, output slides of recent years

By: Mia Breytenbach     8th April 2016 Given an optimal investment climate and enhanced exploration activities, Ghana has the unique opportunity of maintaining its position as an attractive mining investment destination, notwithstanding the significant challenges confronting the industry, particularly the price of gold, avers Canadian... 

Gold mining remains ‘robust’ contributor to Ghana’s economy despite price, output slides of recent years

By: Mia Breytenbach     8th April 2016 Given an optimal investment climate and enhanced exploration activities, Ghana has the unique opportunity of maintaining its position as an attractive mining investment destination, notwithstanding the significant challenges confronting the industry, particularly the price of gold, observed... 

Ghana acknowledging importance of mining to its economy

By: Martin Creamer     8th April 2016 Ghana has done well to cut Gold Fields' tax rate; Australians are want to push their company tax rate down to 20%; and Botswana deserves kudos for deferring mine royalty payments on a case-by-case basis. 

Ghana affords Gold Fields tax, royalty relief in country bereft of weaker currency respite

By: Martin Creamer     29th March 2016 The government of Ghana is showing enlightened pragmatism in the manner in which it is collaborating with South African gold-mining company Gold Fields to keep mines going in a country where there is no weaker currency respite. Unlike in South Africa, Australia and Peru, Gold Fields mines in... 

New mining method nudging South Deep towards breakeven – Gold Fields 

By: Martin Creamer     18th February 2016 Gold mining company Gold Fields increased production in the three months to December 31, when it generated $47-million of cash flow. It pulled down costs to $942/oz, recorded normalised earnings of $15-million, stuck to its dividend commitment, reduced net debt by $47-million and is striving to... 

Early 2016 ‘recap or idle’ decision on Ghana mine – Gold Fields 

By: Martin Creamer     15th December 2015 The outcome of an independent study into Gold Fields’ Damang gold mine in Ghana will determine whether mine’s central pit is recapitalised, possibly at a level of $100-million, or its inherent value preserved until gold prices recover. “We should be in a position to announce a decision early next... 

Gold Fields’ share soars as South Deep raises game, Damang tested

By: Martin Creamer     19th November 2015 Gold mining major Gold Fields saw its share price soar on Thursday owing to its South Deep mine raising its game and net earnings and cash flow lifting in the three months to September 30, which were also fatality-free. The Johannesburg- and New York-listed company’s only South African gold mine... 

South Deep weighs as Gold Fields fails to break out of net loss

By: Martin Creamer     8th May 2014 Johannesburg- and New York-listed Gold Fields came within a hair’s breadth of breaking even in the March quarter, when it narrowed the high $491-million net loss position of the December quarter to $0.3-million. Normalised earnings from continuing operations were up $7-million to $21-million for... 

Company Announcement: PMI Gold Corporation Appoints General Manager

     31st May 2012 PMI Gold Corporation is pleased to announce that it has appointed experienced Ghanaian gold mining executive Charles Amoah as General Manager – Obotan Operations.  

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