Gold Fields, the world’s Number four gold producer, said on Thursday adjusted headline earnings per share rose to 83 cents for the second quarter versus 18 cents in the first quarter due to a weaker rand and higher output.
Gold Fields output for the second quarter to the end of December rose by 5% to 839 000 ounces, and the company predicted it would raise output in the March quarter by 14% to 960 00 ounces.
South Africa has been spared the worst effects of the global financial crisis, but the rand has been hit by risk aversion and slower world economic growth, increasing gold producer’s earnings. — Reuters