Gold Fields has announced that it has delivered group production, all-in-costs (AIC) and all-in-sustaining costs (AISC) in line with its revised 2024 guidance.
According to the company’s preliminary results, its attributable gold equivalent production last year amounted to 2.071 million ounces, in line with the revised guidance of 2.050 - 2.150 million ounces, compared to 2.304 million ounces in 2023.
In 2024, the company’s AIC and AISC increased by 24% and 26% year on year, respectively, mainly due to a 10% decrease in gold sold, additional non-cash gold inventory charge to costs, higher sustaining capital expenditure, increased royalties in line with the higher gold prices and an increase in operating costs due to inflationary cost pressures.
Headline earnings per share for FY 2024 are expected to range from $1.28 -$1.38 per share, 36% to 47% higher than the headline earnings of $0.94 per share reported for 2023. The increase in headline earnings was driven by the higher realised gold price.
Theodor Lisovoy, Managing Editor, Rough&Polished
