National Mining Corporation (NMiC), one of Ethiopia's mining companies, last week announced the discovery of a 568,000kg worth gold reserve in the African country's Oromia and Tigray regional states. The two regions reportedly hold the country's largest gold reserves, according to geological data from Ethiopia's Ministry of Mines. Lisi Niesner/Reuters
Gold Fields Ltd. said it produced about 900,000 ounces of gold in the third quarter, a three percent gain over the second quarter of this year.
The South Africa-based company managed the increase despite an interruption in production in July that occurred during the five-day national industrial action over wages.
The company is one of the world's largest unhedged producers of gold with attributable annualized production of 3.5 million gold equivalent ounces from eight operating mines in Australia, Ghana, Peru and South Africa.
Shares fell 13.13 percent, or $7.54, to $57.10 in premarket trading.
