Gold Fields delivered production and AISC in line with revised 2024 guidance
Gold Fields has advised that the Company has delivered Group production, all-in-costs (AIC) and all-in-sustaining costs (AISC) in line with the Company’s revised 2024 guidance.
Following strong delivery across all our operations in the fourth quarter of 2024 (Q4 2024), attributable gold equivalent production for FY 2024 is expected to be 2,071koz (FY 2023: 2,304koz), in line with the revised Group guidance of 2,050koz – 2,150koz. Salares Norte mine recommenced ramp up at the end of September 2024, delivering gold equivalent production of 45koz, in line with the revised guidance of 40koz to 50koz for 2024.
AIC for FY 2024 is expected to be within the guided range of US$1,820/oz– US$1,910/oz at US$1,873/oz (FY 2023: US$1,512/oz).
AISC for FY 2024 is also expected to be within the guided range, of US$1,580/oz – US$1,670/oz at US$1,629/oz and 26% higher YoY (FY 2023: US$1,295/oz).
The 24% and 26% YoY increase in AIC and AISC, respectively, is mainly due to a 10% decrease in gold sold, additional non-cash gold inventory charge to costs, higher sustaining capital expenditure, increased royalties in line with the higher gold prices and an increase in operating costs due to inflationary cost pressures.
Q4 2024, attributable gold equivalent production was 26% higher QoQ at 643koz (Q3 2024: 510koz) and 8% higher YoY (Q4 2023 excluding Asanko production: 594koz).
AIC for Q4 2024 is expected to be US$1,575/oz, 17% lower QoQ (Q3 2024: US$1,909/oz) and 3% lower YoY (Q4 2023: US$1,618/oz excluding Asanko), while AISC for the quarter is expected to be US$1,410/oz, 17% lower QoQ (Q3 2024: US$1,694/oz) and 4% higher YoY (Q4 2023: US$1,356/oz excluding Asanko).
