Gold Fields Third Quarter Profit Dives 11 Percent, Faces Reorganization

Bloomberg reported that Gold Fields Ltd.’s Q3 profit fell by 11 percent, supporting the likelihood that the company is facing a reorganization.

As quoted in the market report:

You’ve gone through a strike that’s cost you 2 billion rand ($225 million) in revenue, we’ve lost 145,000 ounces of production, it’s worsened our financial position, and some of those areas that we didn’t mine for a while we’re still trying to build back up, so it’s a big headwind,” Chief Executive Officer Nick Holland said in an interview today at Bloomberg’s offices in Johannesburg.

To view the whole Bloomberg report, click here.