CEO Chris Griffith said output from the mine will drop in the fourth quarter due to scheduled maintenance work on key shaft infrastructure
Gold Fields said on Thursday that South Deep, the last remaining asset in SA, which has been its achilles heel for years, was the star performer during the September quarter in terms of output.
Gold production at the mine, based near Carletonville in Gauteng, surged 30% to 88,200oz in the three months to end-September from the June quarter, as a result of improved volumes, grade and yield. The SA gold producer has spent billions of rand since about 2006 trying to bring the project to its full potential but had little to show for it until 2019, when it turned cash positive.
CEO Chris Griffith said output from the mine, which is said to possess the third-largest gold deposit in the world, would drop in the fourth quarter as a result of scheduled maintenance work on key shaft infrastructure.Besides South Deep, Gold Fields owns mines across Australia, Ghana and Peru. At the group level, attributable gold equivalent production rose 8% quarter on quarter to 606,000oz and 9% year on year.Gold Fields, which is listed on the JSE and in New York, kept the full-year production guidance unchanged at between 2.30-million ounces and 2.35-million ounces.
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