Gold Fields expects its half-year profit to soar by as much as 236% on the back of increased gold production and record-high bullion prices.
In a trading update, the miner projected headline earnings per share between $1.09 and $1.21 for the six months to June 30, compared with $0.36 during the same period in 2024.
The spot gold price has climbed more than 30% year-on-year, peaking at $3,500 per ounce in April before easing to about $3,356.91.
This is attributed to strong investment demand driven by US growth, tariff-related inflation fears, robust central bank purchases, and steady jewellery demand.
Gold Fields said first-half production rose 24% to 1.136 million ounces, up from 918,000 ounces a year earlier.
The ramp-up at its Salaries Norte mine in Chile, which suffered weather-related setbacks in 2024, has been smoother this year, resulting in a 46% output jump from the new operation.
For the full year, the company forecasts gold production between 2.25 million and 2.45 million ounces, buoyed by strong operational performance and favourable market conditions.
