Gold Fields Limited (ADR) (NYSE:GFI) Reports Decline In The Group’s Mineral Reserves


Dallas, Texas 03/17/2014 (FINANCIALSTRENDS) –  Gold Fields Limited (ADR) (NYSE:GFI) a South Africa based gold mining and related activities with a market cap of 3.21B has reported Gold Fields’ managed gold Mineral Resources totaling  to 136.7 million ounces and Mineral Reserves 52.6 million ounces . According to the company’s report, the decline in Mineral Reserves is primarily due to a US$1,300/oz gold price used compared with the US$1,500/oz gold price used in the December 2012 declaration. The company’s managed copper Mineral Resources were reported at 14,038 million pounds during December 2013 and Mineral Reserves 712 million pounds. The company holds gold reserves in South Africa, Ghana, Australia and Peru. According to the company’s reports, Gold Fields Limited witnessed very significant increase in costs which was reported at $38million from $3 million and it announced the earnings from continuing operations during December 2013 quarter of $14 million compared to $12million during September 2013.

Gold Fields Limited (ADR) (NYSE:GFI) Regional Reporting

According to the company’s reports, South Africa which comprises of 56% of the Group’s December 2013 managed gold Mineral Resources and 73% of the Group’s managed gold Mineral Reserves declared managed gold Mineral Resource of 76.2 million ounces and gold Mineral Reserve amounting to 38.2 million ounces. Australasia which comprises of 9% Group’s managed gold Mineral Resources reported 11.5 million ounces. It comprises of 7% Group’s managed gold Mineral Reserves reported 4.0 million ounces. The Americas Region reported managed gold Mineral Resource of 3.3 million ounces and a gold Mineral Reserve totaling 2.0 million ounces.The West Africa Region reported gold Mineral Resource of 16.9 million ounces and a gold Mineral Reserve of 8.3 million ounces .The company also reported that the gold Mineral Resource for Gold Fields’ Growth projects was reported at 28.7 million ounces.

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