Gold Fields reported a bonanza profit for the six months to end-June — and rewarded shareholders accordingly — as the miner continues to ride the wave of soaring gold prices.
Shareholders are set for a windfall with the company declaring an interim dividend of 700c per share — more than double that of the year-earlier period — after it reported a 164% jump in attributable profit to $1.03bn.
Headline earnings per share (HEPS) came in at 115c — more than three-times higher year on year.
The company’s shares were down 0.6% at R539.74 at the close of trade on Friday, though they have more than doubled since the start of the year.
The company, which operates nine mines across Australia, Ghana, Peru, Chile, Canada and SA, is now the largest mining company on the JSE. It reached a market cap of R486bn this week after more than doubling in value since the start of the year.
The soaring earnings came as record gold prices, which rose by more than a quarter in the first half, have allowed major miners to reduce debt and free up capital in the past year, opening the door for more deal making and dividend hikes.
A 24% increase in gold production pushed Gold Fields’ revenue to R3.09bn from R2.2bn in the previous comparable period.
In a previous statement, Gold Fields had hailed a strong operational performance at its Salares Norte mine in particular, adding that group sales were projected to increase further in the second half as the Chilean mine continues to ramp up production.
The price of gold is expected to keep rising this year as US President Donald Trump’s aggressive and unpredictable trade policy, and conflict in the Middle East and Russia fuel the momentum. Gold is considered a safe-haven asset and prices tend to rise in times of geopolitical uncertainty.
A recent forecast by Bank of America estimated that bullion could reach $4,000/oz by the end of the year as central banks continue to favour the it over the dollar, which is feeling the pressure from America’s political turmoil.
Update: August 24 2025
This story includes the closing share price
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