Gold Fields Earnings Rise 5%

South African goldmaker Gold Fields generated 5% higher headline earnings per share for the quarter to end December of 147 cents - on the back of a R263 million ($36.34 million) foreign exchange gain.

A large part of the gain relates to a foreign exchange change on the company's $1.2 billion loan raised to purchase Barrick's half of the South Deep gold mine during the quarter.

Production for the quarter was up 1% to 31,580 kilograms, while costs were up 7.7% compared to the September quarter at $11,567/kg.

Gold Fields sold its gold at an average price of R144,485/kg ($19.963/kg) during the quarter, or 1.7% more than in September.