Johannesburg- and New York-listed Gold Fields says it continued to deliver the average 10% higher gold price in the six months ended June 2021 to the bottom line, despite the increase in net operating costs.
It said that its normalised earnings for the half-year period rose by 33% year-on-year to $431 million or $0.49 per share compared to $323 million or $0.37 per share, a year earlier.
It declared an interim dividend of 210 South African (SA) cents a share, compared with the 160 SA cents a share during the first half of 2020.
Meanwhile, the company’s gold output jumped 2% to 1 104 000 oz compared to the previous year’s 1 087 000 oz from the nine operating mines of the globally diversified gold producer.
Gold Fields has mines in Australia, Chile, Ghana, including the Asanko joint venture, Peru, South Africa, and is ramping up the Salares Norte gold project in northern Chile.
“We continue to deliver the higher gold price to the bottom line, with a further increase in normalised earnings,” said Gold Fields chief executive Chris Griffith.
“We maintain both our production and cost guidance for the full year and expect to have a strong second half.”
Attributable gold equivalent production is expected to be between 2.30Moz and 2.35Moz this year.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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