Gold Fields Profit Drops as It Cuts Output Targets

Bloomberg reported that Gold Fields (NYSE:GFI) lowered its production targets for 2012 due to technical difficulties.

As quoted in the market news:

Gold Fields cut its minimum output forecast from Ghana’s Damang mine this year to 175,000 ounces from 210,000 ounces because of a program to improve its performance that may cost $50 million to $60 million in the next three years.

Click here to read the full Bloomberg report.