Gold Fields Limited (Gold Fields) today announced record net earnings for the September quarter of R2,055 million compared with R1,267 million in the June quarter and earnings of R701 million in the September 2010 quarter. In US dollar terms net earnings for the September quarter were US$293 million, compared with US$186 million in the June quarter and earnings of US$95 million in the September 2010 quarter.
September 2011 quarter salient features:
- Group attributable equivalent gold production of 900,000 ounces, 3 per cent higher than the June quarter;
- Operating margin increased from 47 per cent to 51 per cent and NCE margin from 21 per cent to 29 per cent;
- Loans repaid of US$195 million funded from operating activities; and
- Second down payment of US$66 million made in the Far Southeast project in the Philippines, on positive drilling results.
The full results are available on the Gold Fields website: www.goldfields.co.za
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