Johannesburg - Gold Fields quit the World Gold Council to save money.
AngloGold Ashanti, the world’s third-biggest producer of the metal, also left the organisation.
Gold Fields’ decision was “purely a cost issue,” spokesman Willie Jacobsz said today by phone.
“Members pay per ounce of metal produced and with all the cost-cutting we’ve seen, especially here at Gold Fields, we’ve had a look very carefully at our membership of all sorts of organisations around the world.”
AngloGold spokesman Stewart Bailey couldn’t be reached for comment.