Gold Fields to Undertake Aggressive Cost Cutting Measures

Bloomberg reported that Gold Fields is weighing out further cost cutting, in the wake of their drop in quarterly profit.

As quoted in the Bloomberg report:

The company plans to reduce so called near-mine exploration, where it looks for extensions to existing deposits, by more than 50 percent this year to $28 million from $65 million spent in 2012, according to the statement. Capital expenditure for international growth projects is under review and expected to be significantly lower than what was spent last year, Gold Fields said.

To view the whole Bloomberg report, click here.