Gold Fields, Africa's second-largest gold producer, will not meet its August 1 forecast for first-quarter production because technical difficulties delayed the start-up of its Cerro Corona mine in Peru.
Production was about 798 000 ounces in the three months to September, 2.7 percent less than the forecast of 820 000 ounces, the company said in a statement on Friday.
Cash costs would probably be 1.3 percent higher compared with the previous estimate, at about $618 (R5 850) an ounce, it added.
Cerro Corona had produced about 71 percent less than the planned 42 000 ounces, Gold Fields said, adding that it still expected the mine to reach full production by December 31.
Gold Fields shares gained 11.33 percent to close at R86.55 on Friday. - Bloomberg
