Gold Fields, one of the world’s biggest gold miners, says it expects a bump in its profits for the first half of 2022 because of greater production volume and a higher gold price.
The miner, with operations in SA, West Africa, Australia and Peru, sees headline earnings per share (Heps) rising 24%-33% year on year to $0.56-$0.60 (R9.37-R10.04) for the six months to end-June. Its Heps increased ninefold from $0.05 in the same reporting period in 2019.
Gold production rose 9% year on year to 1,201koz.
Gold Fields said recently it is looking at increasing its dividend payout to 30%-45% of normalised profit, from 20% to 35% previously, after investors were unhappy about the proposed acquisition of Canadian miner Yamana Gold for $6.7bn.
The interim results of the company valued at R136.8bn on the JSE are expected on August 25.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.