JOHANNESBURG (Reuters) - Bullion producer Gold Fields is on the prowl for new mines, despite a sinking gold price and delays in its flagship South African mine, chief executive Nick Holland said on Thursday.
Africa's second biggest gold producer by market value swung to a quarterly loss due to seasonal weakness and a scheduled mine stoppage, sending its shares 9.3 percent lower to 47.15 rand.
Gold Fields reported a normalised earnings loss of $13 million, compared with earnings of $17 million in the previous quarter.
"But we would love to add another mine or two to the portfolio so it's still a key focus for the group," Holland told Reuters.
AngloGold Ashanti said in March it had received an approach on its stakes in two mines in Mali and was looking for a partner or buyer in a mine in the United States.
"There are operations in countries that we operate in or countries that are close to us that might fit into our portfolio," Holland said.
Gold Fields has two mines in Ghana.
Production at its flagship South Deep in South Africa fell by 25 percent due to the Christmas holidays and a four-month safety stoppage.
Holland said the company aimed make the mine break even by the end of 2016 following numerous technical faults and a lack of skills at the mechanised operation.
The company signed a three-year wage deal in April with the National Union of Mineworkers that would add 10 percent to its already stretched cost bill.
The spot price of gold fell 0.7 percent on Thursday as higher bond yields dented the investment appeal of the metal which has declined about 9 percent over the last year.
Softer metal prices have forced gold firms to slash costs by shelving projects.