Gold Fields says exploration executive resigns

(Reuters) - South African gold miner Gold Fields Ltd on Wednesday said its executive Vice President and head of exploration, Craig Nelsen, had resigned from the group.

Gold Fields -- the world's fourth biggest gold producer -- said Nelsen would be leaving to establish a new business venture, of which he would be CEO.


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Miner Gold Fields buys remainder of Western Areas

(Reuters) - South African gold miner Gold Fields on Monday said it would compulsorily acquire the remaining Western Areas shares that it does not already own.

Gold Fields, which owns 95.6 percent of Western Areas, said Western Areas shares listed on the JSE would be terminated on March 30.


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Mvela Resources sees H1 loss

South African black-owned mining group Mvelaphanda Resources expects to post a first-half basic and headline loss of 590-610 cents due to a fair value adjustment on its stake in Gold Fields.

The company said the loss in the six months to end December compared to a basic profit of 562 cents per share and a headline profit of 622 cents per share in the year-ago period.

The loss was due to an 18 percent slide in Gold Field shares between June 30 and December 30. It said the fair value adjustment had no impact on Mvela's cash flow.

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G.Fields sets $1.2 bln capital raising, Q2 profit up

Gold Fields Ltd the world's fourth-biggest gold producer, launched a $1.2 billion capital raising on Thursday as it posted a 5 percent rise in second-quarter profit, beating analysts' expectations.

Gold Fields shares, which have shed 8 percent so far this year, fell 2.9 percent to 122.30 rand by 0835 GMT, compared to a 1.35 percent fall in the gold mining index.
The South African firm also said it had spent $528 million to close out the 1 million ounce hedge book of recent acquisition Western Areas.

Gold Fields said earnings per share for the three months to end December, excluding the effects of financial instruments and foreign debt, rose to 147 South African cents from a restated 140 cents the previous quarter.

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