Welcome to our dedicated page for Gold Fields news (Ticker: GFI), a resource for investors and traders seeking the latest updates and insights on Gold Fields stock.
Gold Fields Limited (GFI) is described in its public disclosures as a globally diversified gold producer with operating mines and joint ventures across several regions. News about Gold Fields often highlights developments at its gold mining operations, updates on its mineral reserves and resources, and financial and operational results released through its reporting cycle.
Company announcements have included operational updates for specific quarters, where Gold Fields reports attributable annual gold-equivalent production, mineral reserves and mineral resources, and profit attributable to owners of the parent. The company has also issued news on the publication of its suite of annual reports, including its Integrated Annual Report, Annual Financial Report, Governance Report, Mineral Resources and Mineral Reserves Supplement and Climate Change Report, as well as the filing of its annual report on Form 20-F with the U.S. Securities and Exchange Commission.
Gold Fields news flow also covers its joint venture and partnership activities. For example, it has been identified as a 50:50 joint venture partner in the Asanko Gold Mine in Ghana and has been party to a proposed joint venture in Ghana between its Tarkwa mine and AngloGold Ashanti’s Iduapriem mine. In addition, an affiliate of Gold Fields completed a strategic investment in Founders Metals Inc., a Canadian-based exploration company focused on the Antino Gold Project in Suriname, with related investor rights and technical collaboration arrangements disclosed.
Investors following GFI news can expect updates on quarterly and annual operating performance, reserve and resource reporting, joint venture developments, and strategic investments in the gold sector. This page aggregates such disclosures and related coverage so readers can review how Gold Fields communicates changes in its operations, portfolio and reporting over time.
Gold Fields (JSE: GFI, NYSE: GFI) announced expected basic earnings per share for H1 2021 between US¢42-46, a 133-156% increase from US¢18 in H1 2020. Headline earnings per share are projected at US¢43-47, up 115-135% from US¢20. Normalised earnings are expected at US¢47-51, a 27-38% rise from US¢37. Attributable gold equivalent production increased slightly to 1,104koz. All-in sustaining costs rose 11% YoY to US$1,093/oz, and all-in costs surged 20% YoY to US$1,274/oz due to capital projects. Financial results will be released on August 19, 2021.
Gold Fields' South Deep Gold Mine and the NUM and UASA trade unions have finalized a three-year wage agreement effective from 1 March 2021 to 28 February 2024. The deal includes wage increases of 8% for Category 4-8 employees and 6% for miners, artisans, and officials in the first year, with subsequent increases based on CPI. The average settlement increase is 6.5% annually over three years. Non-wage issues, such as leave and shift configurations, were also addressed. This agreement aims to improve employee livelihoods amidst the challenging economic climate.
Gold Fields Limited (NYSE: GFI) reports an operational update for the quarter ending March 31, 2021. The company has nine operating mines across Australia, Peru, South Africa, and West Africa and produces a total of 2.24Moz of attributable gold-equivalent annually. As of now, it holds 52.1Moz in attributable gold-equivalent Mineral Reserves and 116.0Moz in Mineral Resources. Detailed financials will be released biannually in June and December. More information can be found on their website.
Gold Fields Limited (GFI) released its Integrated Annual Report 2020, including the Annual Financial Report and Governance Report for the fiscal year ending December 31, 2020. The reports confirm financial results from February 18, 2020, with no modifications. PwC Inc. audited the financials and raised a key audit matter regarding South Deep’s impairment assessment. The report states Gold Fields has attributable gold-equivalent Mineral Reserves of 52.1Moz and Mineral Resources of 116.0Moz. The company's AGM is set for May 6, 2021.
Gold Fields Limited (GFI) has received approval for a 40MW solar power plant at its South Deep mine from the National Energy Regulator of South Africa (NERSA). This project is expected to supply approximately 20% of South Deep's average electricity needs and is anticipated to enhance power reliability and affordability. The company aims to reduce its carbon emissions by partially replacing coal-fired electricity from Eskom. This initiative follows successful renewable energy implementations at its Australian mines, increasing the group's renewable energy contribution to around 11% upon commissioning.
Gold Fields Limited (NYSE: GFI) reported a significant increase in normalised profit for the year ended December 31, 2020, amounting to US$879 million or US$1.00 per share, up from US$343 million or US$0.42 per share in 2019. A final dividend of 320 SA cents per share will be paid on March 15, 2021, contributing to a total annual dividend of 480 SA cents per share. Gold Fields operates nine mines across Australia, Peru, South Africa, and West Africa, with a total annual gold-equivalent production of 2.2 million ounces.
Gold Fields Limited (JSE: GFI, NYSE: GFI) reports a significant increase in headline earnings per share for FY 2020, projected between US$0.81 and US$0.85, up 305-325% from US$0.20 in FY 2019. Basic earnings per share are expected between US$0.80 and US$0.84, while normalised earnings are forecasted at US$0.98 to US$1.02, reflecting strong production and higher gold prices despite hedges. Attributable gold equivalent production for 2020 is 2,236koz, a 2% increase YoY. FY 2020 financial results will be released on February 18, 2021.
Galiano Gold Inc. has provided an update on the exploration program at the Asanko Gold Mine joint venture with Gold Fields Ltd. The Miradani North target, located 10 km from the processing plant, has seen encouraging results from a Phase 3 drilling program, now 80% complete with 28 holes totaling 7,896m. Assays for 56% of the drilling have been received, revealing significant mineralization, with grades up to 6.3 g/t gold. CEO Greg McCunn emphasizes that Miradani North remains a top priority as they prepare for further engineering studies and resource estimates.
The Board of Gold Fields (JSE: GFI, NYSE: GFI) announced the appointment of Chris Griffith as Chief Executive Officer designate, effective April 1, 2021. Griffith, previously CEO of Anglo American Platinum, succeeds Nick Holland, who will retire six months early after 13 years in the role. Griffith brings extensive mining experience, aiming to enhance operational performance and sustainability. The Board expressed confidence in his ability to lead the company forward while emphasizing value creation for shareholders and stakeholders.
Gold Fields Limited (NYSE: GFI) reported a solid financial standing as of Q3 2020. The company's net debt (including leases) decreased to US$1,159m from US$1,239m in June 2020, post an interim dividend payment of US$85m. The net debt to EBITDA improved to 0.68x compared to 0.84x at the end of June. Additionally, net debt excluding leases fell to US$796m from US$876m. Gold Fields operates nine mines across multiple regions and boasts a total attributable gold-equivalent production of 2.2Moz.