Gold Fields takes R7.4bn writedown charge

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IOL image nick holland INDEPENDENT MEDIA Gold Fields chief executive Nick Holland. Photo: Simphiwe Mbokazi.

Johannesburg - Shares of Gold Fields plunged more than 6 percent after writing down $672 million (R7.4 billion) on the value its assets in the fourth quarter due to a lower gold price.

Shares of South Africa's second-largest gold producer by market value fall more than 6.37 percent at 40.42 rand, on course for its biggest daily percentage decline in more than five months. - Reuters

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