Gold Fields Ltd's move into the Philippines is part of an international diversification drive intended to source 60% of the group's annual gold production from outside South Africa by 2015. That's according to chief executive Nick Holland who, in his presentation to the Denver Gold Forum, pointed out that the group's international operations currently account for only 45% of total gold production. Gold Fields currently produces 3.5 moz gold annually but is targeting 5 moz in production or development by 2015.
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