Yesterday, Gold Fields Ltd. (GFI, Financial) released an operational update for the third quarter.
The miner will release a more detailed operational and financial report in December.
Source: GFI's Operational update - September 2016
As you can see from the picture above, compared to the same quarter of the previous year, Gold Fields produced less gold (537,000 ounces, -4% on a year over year basis), but produced at a higher cost per ounce ( AISC: $1,026 per ounce, +8% on a year over year basis. AIC: $1,038 per ounce,  +8% on a year over year basis ).
Over the previous quarter, Gold Fields produced more gold (+2%), but produced at a flat all-in sustaining cost (AISC) and lower total all-in cost (AIC) per ounce ( AISC: $1,026 per ounce, +8% on a quarter on quarter basis. AIC: -2% on a quarter on quarter basis).
The average realized gold price during the third quarter was $1,329 per ounce, 20% higher compared to third quarter 2015 and 7% higher compared to the previous quarter.
Gold Fields reported an increased gold production at Tarkwa (Ghana) of  at least 10.8% quarter on quarter and increased production at Damang (Ghana) was 28.8% quarter on quarter, due to higher plant throughput and yield at both mines. Production at Agnew/Lawlers (Australian Region) increased at least 1% quarter on quarter.
Gold Fields reported a decrease in gold production at South Deep (South Africa) of -9.8% quarter on quarter, production at Cerro Negro (Peru) decreased 5.3% quarter on quarter and Granny Smith (Australia) decreased 4% quarter on quarter. Decreases in productio at South Deep were due to a decrease in recovered head grade and the fatal accident of a worker.There was a reduction in grade mined at Granny Smith and lower ore milled at Cerro Negro. All-in costs and all-in sustaining costs, in dollars per ounce, increased due to a weaker U.S. dollar versus the South African rand, higher net operating costs and capital expenditure at the Peruvian mine and decreased gold sold and higher capital expenditure at Granny Smith.
Gold Fields reported a timid 3% increase quarter on quarter at St. Ives (Australia), at a lower AISC and AIC due to higher net operating costs and capital expenditure, partially offset by increased gold sold.
In the third quarter, thanks to a higher U.S. gold price, Gold Fields reported an increase in free cash flow. It was $152 million and 2.5x more than that of the first half of 2016. The miner could reduce the net debt with 10.9%, from $1,155 million in the second quarter of 2016 to $1,029 million in the third quarter of 2016. Therefore, the company “remains on track to beat the net debt to EBITDA target of 1x by year-end,” according to N.J. Holland, CEO of Gold Fields.
For 2016, Gold Fields reconfirmed guidance of attributable equivalent gold production to be between 2.10 million ounces and 2.15 million ounces at an AISC between $1,000 per ounce and $1,010 per ounce and an AIC between $1,035 per ounce and $1,045 per ounce.
Through a total investment of approximately $1.4 billion in operating and capital expenditure, Gold Fields will extend the life of the Damang mine by eight years, bringing social benefits to the local community in terms of job creation and preservation.
Disclosure: I have no positions in Gold Fields Ltd.
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