Gold Fields records solid Q1 results

Gold producer Gold Fields has had a solid start to 2016 with attributable equivalent gold production for the first quarter 3% higher year-on-year at 515 000 oz, compared with the 501 000 oz produced in the first quarter of 2015. In a quarterly operating update for the three months to March 31, the company reported a 16% year-on-year decrease in all-in sustaining costs (AISC) to $961/oz, compared with an AISC of $1 143/oz in the first quarter of 2015, while all-in costs (AIC) were 15% lower year-on-year at $986/oz, compared with the AIC of $1 164/oz in the prior comparable period.