| Gold Field Inks Wage Agreement with South Deep for 3 Years - Analyst Blog | |
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Gold Fields Ltd. GFI declared that it has entered into a three-year agreement related to wages and other employment conditions with its registered trade unions at its South Deep mine in South Africa.
Per the agreement with the National Union of Mineworkers and UASA (United Association of South Africa), there will be a 10% increase in average annual wages over the next three years. The first hike in wage came into effect from Apr 1, 2015.
The agreement was inked to suit significant operating models and labor profiles of the South Deep mine compared with other mining companies in South Africa. South Deep, being the only fully-mechanized gold mine, employs nearly 3,500 employees possessing the requisite skills. Gold Fields after considering the scarcity of mechanized mining skills in the region adopted an integrated approach in its negotiations with labor.
Gold Fields’ attributable gold equivalent production for the fourth quarter of 2014 was 556,000 equivalent ounces of gold. Moreover, the company’s all-in sustaining costs and all-in costs were $1,023 per ounce (oz) and $1,047/oz, respectively. The company generated operating cash flows of $54 million in the quarter.
Gold Fields expects attributable equivalent gold production for 2015 to be around 2.2 million ounces at an all-in sustaining cost of $1,055/oz.
Gold Fields, an unhedged gold producer with eight operating mines across Australia, Ghana, Peru and South Africa, is committed to driving margins and cash flows, while cutting debt.
Gold Fields currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the gold mining industry include Pretium Resources Inc. PVG, Asanko Gold Inc. AKG and Banro Corporation BAA. While Pretium Resources sports a Zacks Rank #1 (Strong Buy), Asanko Gold and Banro carry a Zack Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PRETIUM RES INC (PVG): Free Stock Analysis Report GOLD FIELDS-ADR (GFI): Free Stock Analysis Report BANRO CORP (BAA): Free Stock Analysis Report ASANKO GOLD INC (AKG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Gold Fields ltd
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PRODUCTEUR |
CODE : GFI |
ISIN : US38059T1060 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Gold Fields est une société de production minière d'or basée en Afrique Du Sud. Gold Fields est productrice d'or, de cuivre au Ghana, au Perou, en Australie et en Afrique Du Sud, en développement de projets d'or au Mali, et détient divers projets d'exploration au Perou. Ses principaux projets en production sont ST IVES MINE et AGNEW en Australie, BEATRIX MINE, DRIEFONTEIN, KLOOF MINE, SOUTH DEEP, KLOOF et BEATRIX en Afrique Du Sud, DAMANG, TARKWA et DAMANG PROJECT au Ghana et CERRO CORONA au Perou, son principal projet en développement est KOMANA au Mali et ses principaux projets en exploration sont LOBO aux Philippines et CHUCAPACA et CANAHUIRE au Perou. Gold Fields est cotée aux Etats-Unis D'Amerique, en Afrique Du Sud et en France. Sa capitalisation boursière aujourd'hui est 11,7 milliards US$ (10,5 milliards €). La valeur de son action a atteint son plus bas niveau récent le 10 novembre 2000 à 1,69 US$, et son plus haut niveau récent le 13 septembre 2024 à 14,21 US$. Gold Fields possède 821 530 048 actions en circulation. |