Gold Fields release financials after job cut announcement

Gold Fields has announced its interim financial results. This comes after the company announced earlier this week that it planned to slash costs at its problematic South Deep mine including cutting costs.

Over a thousand jobs that are around 30% of its workforce.

READ: Gold Fields says it's left with no choice but to cut jobs

The company said it had lost R4 billion over five years and also spent about R2 billion on the asset since 2006.

Speaking to Clement Manyathela on The Midday Report, Gold Fields spokesperson Sven Lunsche says the company is much broader than South Deep.

We operate six mines, two projects all over the world and as these results show that those mines are doing well.

Sven Lunsche, Gold Fields spokesperson

They created cash of over R190 million, and we are going to add two new mines to the portfolio sometime next year.

Sven Lunsche, Gold Fields spokesperson

He adds that it is a company they believe has done well internationally and they have regularly produced good cash flow from these mines.

But as you know, this is used to fund South Deep and partly reduce our debt somewhat.

Sven Lunsche, Gold Fields spokesperson

Listen to the full interview below...


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