Gold Fields posts improved Q4 earnings

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IOL pic feb13 rsa bank notes Reuters File photo: Siphiwe Sibeko

Johannesburg - South African bullion producer Gold Fields posted a slight rise in fourth quarter earnings on Thursday as production rose 21 percent, mostly because of a significant improvement in its Damang mine in Ghana.

Normalised earnings for the quarter to end-December totalled 19 cents per share from 17 cents in the previous three months.

On year-on-year basis earnings were down 85 percent, a reflection of the falling gold price.

Normalised earnings are based on new standards by the World Gold Council which look at all costs and most capital expenditures. - Reuters


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