Gold Fields Ltd. said full-year profit surged 77% last year after the price of bullion soared, while the company started to overcome operational challenges at mines in Chile and South Africa.
Gold Fields Ltd. reported a 77% surge in full-year profit, driven by a rise in bullion prices and operational improvements at mines in Chile and South Africa. The company expects to increase production to 2.25 million to 2.45 million ounces in 2024, with strong free cash flow growth of 65% to $605 million and a dividend hike of over a third. Gold Fields also announced a $1.6 billion acquisition of Osisko Mining Inc., targeting the Windfall project in Canada, and faced delays at the Salares Norte mine in Chile due to severe winter conditions. The company achieved a 25% rise in gold production in the second half of 2024, with capital expenditures set to remain elevated.
