By Kyle Morris


Gold Fields Ltd. said Wednesday that it has met production and cost guidance for 2022.

The gold miner said attributable gold equivalent production for 2022 is seen at 2.4 million ounces, a 3% on-year increase from 2.3 million ounces. This exceeded the guidance range of 2.3 million to 2.4 million ounces.

All-in costs for fiscal 2022 are expected at $1,320 an ounce, 2% higher on year. This is below the lower end of the guidance range of $1,370 an ounce-$1,410 an ounce. The on-year increase was driven by an increase in operating costs due to mining inflation, partially offset by decreased project capital expenditure and weaker exchange rates.

Headline earnings per share for 2022 are seen in a range of $1.16-$1.22 per share, 16% to 22% higher than 2021. Basic earnings per share for 2022 are expected to range from $0.77 to $0.83 per share, 7% to 13% lower than $0.89 per share for 2021. The decrease in basic earnings is due to impairments at Tarkwa and Cerro Corona, principally due to an increase in discount rates, a write down of the investment in Far South East and inflationary cost pressures.


Write to Kyle Morris at kyle.morris@dowjones.com


(END) Dow Jones Newswires

02-15-23 0516ET