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Monday, 31st January 2005 (7942 views)

South African miner Gold Fields has reported profit increases and cost reductions in its latest results.<br/><br/>The world's number four gold miner saw profits rise to R637 million in its December quarter, compared to R456 million in its September quarter results.<br/><br/>Gold Fields chief executive officer Ian Cockerill told Business Report: "Gold Fields is in excellent shape with all operations delivering to expectations. <br/><br/>"Performance for the third quarter, traditionally a difficult period as it includes the effects of the Christmas break, is expected to improve yet again."<br/><br/>Production was also up over the period, with the amount of gold mined up by four per cent and Tarkwa mill work up by 34 per cent.<br/><br/>However, some costs were up as a result of the company's IAMGOLD merger bid.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7689946"/>

 

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