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Gold Fields to restructure as gold price fall burns profit

Posted on 23 August 2013

South African miner Gold Fields on Thursday announced a major restructuring to restore profits, hollowed out by the plunging price of gold. It said it was not afraid of closing mines to make money, including its Damang operation in Ghana, and would revamp its business to generate profit at a spot gold price of $1,300 an ounce.
Gold Fields has already spun off the bulk of its assets in South Africa where labour, power and other costs are escalating in the world’s deepest shafts………………………………………..Full Article: Source


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