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Lower South Deep output dents Gold Fields’ FY18 profit 

By: Tasneem Bulbulia     15th February 2019 Dual-listed Gold Fields achieved normalised profit from continuing operations of $27-million for the year ended December 31, 2018, compared with the $154-million posted for 2017.   The company’s profit was dented by a decline in output, led by its South Deep mine in South Africa. 

Gruyere only months away from first production

By: Esmarie Iannucci     15th February 2019 Gold miner Gold Road Resources is expecting the Gruyere joint venture (JV) with Gold Fields to produce between 100 000 oz and 120 000 oz this year, the company said on Friday. The Western Australia-located project is expected to produce its first gold during the June quarter, with commercial... 

Gold Fields anticipates lower FY18 HEPS

By: Tasneem Bulbulia     6th February 2019 Dual-listed Gold Fields expects its headline earnings per share (HEPS) for the 12 months ended December 31, 2018 to be 65% to 81% lower year-on-year at between $0.05 to $0.09. In a trading update published on Wednesday, the gold producer said its basic loss a share would widen to between $0.40 to... 

Gold Fields revamps Granny Smith circuits

By: Esmarie Iannucci     5th February 2019 Gold miner Gold Fields will install one of the world’s largest renewable energy microgids at its Granny Smith gold mine, in Western Australia. The miner on Tuesday said that more than 20 000 solar panels and a 2MW/1MWh battery system would be installed at the mine, with the grid to be... 

Call made for better connection with mining communities, stable regulation

By: Kim Cloete     4th February 2019 Stakeholders in the mining industry have called for stable regulation and agreed that there needs to be more collaboration and communication between mining houses, communities and mineworkers. Anglo American CEO Mark Cutifani told the Investing in African Mining Indaba in Cape Town that mining... 

Strong investment case for gold in 2019 – World Gold Council

By: Marleny Arnoldi     31st January 2019 Global gold demand in 2018 increased by 4% year-on-year to 4 345 t and was in line with the five-year average demand of 4 347 t. The World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ report, published on Thursday, said the increase was driven by a 52-year high in central bank buying and... 

South Africa's largest labour union plans nationwide strike over mass layoffs  

By: Reuters     30th January 2019 South Africa's largest labour union group, with more than a million and a half members, said on Wednesday it would stage a nationwide strike on Feb. 13 over large-scale layoffs at ailing state-owned firms and at private companies. The decision by the Congress of South African Trade Unions... 

Gruyere construction nearing completion

By: Esmarie Iannucci     29th January 2019 First ore has been mined at the Gruyere joint venture (JV), in Western Australia, as part of the mining production ramp-up, which will see first gold production during the June quarter of this year. JV partners Gold Road Resources and GoldFields on Tuesday reported that construction of the... 

Ghana pledges no repeat of incursions at AngloGold mine 

By: Bloomberg     23rd January 2019 Ghanaian President Nana Akufo-Addo pledged that the incursion of illegal miners which forced AngloGold Ashanti to evacuate its Obuasi operation won’t be repeated. Speaking at a ceremony that marked the reopening of the century-old mine in the south of the country, Akufo-Addo said Tuesday that the... 

Gold Fields denies interest to merge with AngloGold Ashanti 

By: Marleny Arnoldi     23rd January 2019 JSE- and NYSE-listed Gold Fields has denied that it wants to merge with its competitor AngloGold Ashanti, stating that an article published by Bloomberg on Tuesday was factually incorrect. Bloomberg quoted a person familiar with the matter as saying Gold Fields wanted to merge with AngloGold as... 

Asanko progresses Esaase trial mining, exceeds production guidance

By: Marleny Arnoldi     17th January 2019 TSX- and NYSE-listed Asanko Gold delivered a strong operational performance in the final quarter of 2018, producing 59 823 oz of gold, taking full year output to 223 152 oz. This was above guidance of 200 000 oz to 220 000 oz.  

Harmony, Gold Fields selected for global Bloomberg Gender Equality Index

By: Marleny Arnoldi     17th January 2019 Gold miners Harmony Gold and Gold Fields have been selected for the 2019 Bloomberg Gender Equality Index that distinguishes companies that are committed to transparency in gender reporting and advancing women’s equality. The two companies are among 230 selected globally for inclusion in the index. 

Agrizzi says Bosasa used union bosses to get contract at Gold Fields

By: African News Agency      16th January 2019 Angelo Agrizzi, the former marketing co-coordinator of Bosasa Facilities Management, on Wednesday spilled the beans about the inner workings and political links of the controversial consultancy company, also saying that at times he felt like he was in a cult-like organisation during his 17-year... 

Metalicity MD steps aside

By: Esmarie Iannucci     10th January 2019 Matt Gauci will step down as the MD of ASX-listed Metalicity, effective January 10. Nonexecutive director Mathew Longworth will assume the role of CEO, and the Metalicity board is currently in discussions with suitable executives to work alongside him as part of a transition to grow the company... 

South Deep strike enters third week, costs Gold Fields R6m a day 

By: Marleny Arnoldi     22nd November 2018 A strike by National Union of Mineworkers (NUM) members at Gold Fields’ South Deep mine has entered its third week and is costing the company about R6-million a day. The strike action started on November 2, with the union opposed to the planned retrenchments of more than 1 000 South Deep... 

Gold miner smuggles in workers by night to bypass strikers  

By: Bloomberg     16th November 2018 Gold Fields is having to sneak maintenance teams into its South Deep mine in South Africa after protesters shot at vehicles trying to enter the site, where workers have been on strike since Nov. 2. Small teams of essential workers are using secret entrances to enter the mine and sometimes have to... 

Asanko tracking top end of H2 guidance

By: Mariaan Webb     17th October 2018 Mining operations at the Asanko Gold Mine (AGM) are ahead of plan, standing the Ghana joint venture (JV) operation in good stead to meet its full-year production guidance of 200 000 oz to 220 000 oz. The mine – a 50:50 JV between Asanko Gold and Gold Fields – produced a record 61 599 oz in the... 

Consultants confirm at least 1Moz potential at Cora Gold’s Mali prospect

By: Marleny Arnoldi     15th October 2018 A report compiled by SRK Consulting has confirmed that gold explorer Cora Gold’s Sanankoro project, in Mali, has the potential to delineate between one-million and two-million ounces of gold to a depth of 100 m, also indicating the potential for significant further upside at depth. SRK derived an... 

Mining at Gruyere to start in November

By: Esmarie Iannucci     15th October 2018 The Gruyere gold project, in Western Australia, remains on schedule to produce its first gold in the June quarter of next year. Joint venture (JV) partners Gold Road Resources and Gold Fields on Monday revealed that the overall project engineering was about 96% complete at the end of the... 

Gold Fields CEO asks for 'more time' as investors get antsy  

By: Bloomberg     15th October 2018 Gold Fields shareholders getting impatient over the company’s failure to stem losses at the huge South Deep deposit in South Africa shouldn’t lose hope, said CEO Nick Holland. Gold Fields said in August it’s embarking on yet another turnaround plan at the operation, its only one left in South... 

Zimplats held up as mine safety benchmark at Joburg Indaba

By: Martin Creamer     4th October 2018 Zimplats platinum mine in Zimbabwe was held up as a safety benchmark at the Joburg Indaba, which on Thursday observed a minute’s silence for mining colleagues fatally injured at work. Opening the second day of the well-attended event, Gold Fields, Kumba Iron Ore and AfriTin director Terence... 

On-The-Air (14/09/2018) 

By: Martin Creamer     14th September 2018 South African mining companies are entering an exciting new era of close collaboration with the governments of South Africa and Zimbabwe; Gold mining, which was once the darling of the investor community, are now battling to raise even low levels of capital; and Australia is proving to the world... 

Gold Fields plans to extend life of Peru mine through 2040

By: Reuters     13th September 2018 South African miner Gold Fields aims to extend the life of its Cerro Corona gold mine in Peru through 2040 with an investment of at least $240-million, the company's vice president for the Americas said late on Wednesday. "We're doing studies with Peruvian consulting firms and international... 

Gold Fields ranked top South African mining company, third best global gold company

By: Marleny Arnoldi     13th September 2018 JSE- and NYSE-listed Gold Fields has again been ranked the top South African mining company on the Dow Jones Sustainability Index (DJSI) benchmarking database. The DJSI scorecard for 2018, which was published on Thursday, shows that Gold Fields’ sustainability practices rank with the best of... 

Ramelius buys WA gold project

By: Mariaan Webb     13th September 2018 Acquisitive Ramelius Resources on Thursday announced that it would buy the Marda gold project, about 190 km from its Edna May operation in Western Australia for A$13-million. The company, which earlier this week launched a hostile takeover for Explaurum, said that the Marda resource could be a... 

Gold mining battling to attract capital – Holland

By: Martin Creamer     11th September 2018 Capital is not as easily available to gold mining companies as it used to be. Gold producers are having to compete with gold-linked alternatives and can no longer rely on equity as a guaranteed means of financing projects or addressing balance sheet gearing. Making these points at the... 

'Will I come back dead?' Human costs of South African gold

By: Bloomberg     10th September 2018 fter more than two decades of improving mine safety since the end of apartheid, South Africa’s progress has stalled with an increase in gold-mining deaths. More than 50 people have died in the country’s mines in 2018, roughly the same number as this time last year. While annual death tolls are... 

Hundreds of Mazowe Mine employees in Zimbabwe reportedly to be retrenched

By: African News Agency      3rd September 2018 Hundreds of Mazowe Mine employees will reportedly lose their jobs after the company was put under care and maintenance in Zimbabwe. Mazowe Mine is part of the Metallon Corporation group which includes How Mine, Mazowe Mine, Shamva, and Redwing Mine. The employees have reportedly been given three... 

Gold Fields appoints Phuti Mahanyele as nonexecutive director

By: Marleny Arnoldi     28th August 2018 JSE- and NYSE-listed Gold Fields has appointed Phuti Mahanyele as an independent nonexecutive director, effective September 1. Gold Fields chairperson Cheryl Carolus said Mahanyele will offer the company strong financial, infrastructure development and commercial skills, as she has extensive... 

Black industrial powerhouse backs large-scale roll-out of cutting-edge mechanised mining technology

By: Creamer Media Reporter      24th August 2018 Southern Palace Group of Companies through its subsidiary Genrec Engineering,, has put in motion ambitious plans to position South Africa as a leading hub for mining solutions research and development (R&D), as well as manufacturing. Renowned industrialist, Sello Mahlangu, is the founder and... 

On-The-Air (17/08/2018) 

By: Martin Creamer     17th August 2018 Yet another huge mine is in serious financial trouble, which is throwing up the dread of more mass retrenchment. South Africa should adopt the growth model that has proved so resoundingly successful for the economy of Canada. The Constitutional Court should be called upon to lift the veil of... 

Afraid of no-one and ready for a long strike, union leader tells Implats

By: Reuters     17th August 2018 Members of South Africa's AMCU mining union are ready to strike for a year if necessary and would bring the platinum belt to a standstill if Impala Platinum carries out plans to cut up to 13 400 jobs, the union's president said on Thursday. Joseph Mathunjwa, who led a five-month strike in 2014,... 

Gold Fields advances projects to ‘underwrite a better future’

By: Simone Liedtke     17th August 2018 NYSE- and JSE-listed Gold Fields aims to continue building new projects that will “underwrite a better future for [the miner] in terms of a longer life at lower costs”. This, CEO Nick Holland said during a conference call on Thursday, is particularly important, given the volatility of the gold... 

Gold Fields remains in ‘strong’ financial position, despite $367m loss, says Holland

By: Simone Liedtke     16th August 2018 Despite attributable losses from continuing operations for the six-month period ended June 30, of $367-million or $0.45 a share, CEO Nick Holland maintains that the NYSE- and JSE-listed Gold Fields remains in a strong financial position. Holland further noted on Thursday that the integrity of the... 

Mantashe blames Gold Fields bosses for mine woes

By: Reuters     16th August 2018 Gold Fields' plan to cut jobs at its struggling South African mine fails to address "poor management", Mining Minister Gwede Mantashe said on Thursday, piling pressure on CE Nick Holland. Gold Fields, which is due to report half-year results later, said this week it would cut 1 100 permanent jobs... 

Mining production increases 2.8% y/y in June

By: Marleny Arnoldi     14th August 2018 Mining production increased by 2.8% year-on-year in June, from a 1.8% decline in May, with the largest positive contributor being platinum group metals (PGMs), which rose by 28.2% and contributed 5.9 percentage points, says Statistics South Africa (Stats SA). Other positive contributors were... 

Minister decries Gold Fields’ job-cut plan at cash-burning South Deep

By: Martin Creamer     14th August 2018 They say South Deep will be the last gold mine standing, but every report coming out of it indicates that it is an extremely hard nut to crack, with production hopelessly below guidance. Since 2006, Gold Fields has pumped R32-billion into South Deep without even breaking even, let alone making a... 

Gold Fields expects to report lower H1 basic earnings a share

By: Marleny Arnoldi     8th August 2018 JSE- and NYSE-listed miner Gold Fields has advised that its basic earnings a share for the six months ended June 30 are expected to be at least 20% lower than the $0.07 reported for the six months ended June 30, 2017. The company will release its interim financial results on August 16.  

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