Gold Fields Limited (NYSE:GFI) the company with a heart of gold

Posted by Lacee Page August 15, 2013 0 Comment 794 views

Gold Fields Limited (NYSE:GFI) completed its mining-exploration ceremony at the Akyem Abodom mine. Full mining operation will now commence at this mine that is located in the Eastern Region’s Kwabibirim District. Nana Twum Debrah, the Managing Director of GFI said that other mining companies generally wash all the gold mineral straight into the Birim River.

The conscientious miner

Gold Fields on the other hand, has built 3 different dams for this purpose. The gold mineral will be washed in these dams and will not impact the river in any manner. This means that the local populace will not find it difficult to use the waters of the river. In addition, he said that the company will upgrade the road- network from the township of Kade right up to Akyem Abodom and make it more motorable.

Apart from this, the company’s management is in talks with Barima Boadi Aboagye, the Akyem chief and other elders of the township to setup a modern K.V.I.P. This would benefit the local community.

Last traded

Gold Fields Limited (NYSE:GFI) had a good run in Wednesday’s trading session. The stock rose by 8.08%. The opening price of the shares was $5.95 which touched an intraday high of $6.29 which was also its closing price for the day. More than 7.35M shares were traded on Wednesday while the average volumes of shares that exchanged hands over a 30 day period were 4.67M. The company has a market cap of 4.62B.

The company

GFI is essentially a holding company. It is involved in the gold mining and its various related-activities. It explores, processes and smelts gold. The company’s reserves are spread across South Africa, Australia, Ghana and Peru. The mine in Peru also produces copper. The company is largely involved in surface and underground copper and gold mining as well as other related activities.

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Lacee Page is our White House and political campaign reporter. Lacee also covers justice and national law enforcement issues and congressional reporter focusing on the outputs of the legislative process: government spending, agency regulation and congressional oversight. Lacee received a national Edward R. Murrow for spot news award and the regional Associated Press award for best newscast. Lacee attended Riverview High School near Coshocton, and graduated from Ashland College in Ashland, Ohio with a Bachelor of Arts degree in Communications.

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