/ 9 May 2000

GOLD FIELDS’ EARNINGS RISE 20%

WORLD number two bullion producer Gold Fields turned in a steady March quarter on Thursday and said it would seek further acquisitions and mergers in the future. The miner posted a 20% increase in net earnings to R231,9-million from the December quarter, but revenue fell R25,4-million to R1,793-billion because of lower gold output. Gold production fell to 959000 ounces from 990000 ounces. The miner said it would invest R400-million on replacing two metallurgical plants at Driefontein with one modern complex as part of its drive to lower costs.