trending Market Intelligence /marketintelligence/en/news-insights/trending/jozkqmmgwno48d3pu8dbuq2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Gold Fields CEO asks investors for patience on South Deep restructuring

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Report Outlooks of Lithium and Cobalt

Essential Metals & Mining Insights July 2020


Gold Fields CEO asks investors for patience on South Deep restructuring

Gold Fields Ltd. CEO Nicholas Holland is asking for "more time" from investors who are getting fed up with the company's failure to stem losses at the South Deep gold mine in South Africa, Bloomberg News reported Oct. 12.

"They are now very impatient, and one can understand it but I think we need to calmly look where we are and evaluate the best way forward," Holland said.

"There is a large resource base there, it's well-drilled and we have spent a lot on infrastructure development costs. We are not far away, we just need more time," he added.

The company said in August that it is embarking on another restructuring plan at the operation.

Gold Fields has spent over 9 billion South African rand on South Deep in addition to the 22 billion rand it spent to acquire the asset in 2006.

A new turnaround plan starting in February 2019 is in the works, and Gold Fields will likely need about 18 months to assess the plan, Holland said.

South Deep's challenges are not unique in South Africa, and other gold producers are not making money either thanks to persistently high costs, Holland said.

South Africa's deep, aging mines and labor-intensive mining methods keep pressure on expenses, which is compounded by an investment shortage in exploration, and the country's gold production fell for the 10th consecutive month in July, Holland told Bloomberg.