JOHANNESBURG – in its Trading statement for H1 2021, Gold Fields has advised that basic earnings per share for the six months ended 30 June 2021 (H1 2021) are expected to be between US¢42-46 per share, an increase of 133-156% (US¢24-28 per share) from the basic earnings of US¢18 per share reported for the six months ended 30 June 2020 (H1 2020).
The increase in earnings for the period is driven largely by an increase in revenue (both higher gold price received and increase in gold sold); a reduction in the loss on financial instruments; partially offset by higher net operating costs and higher tax.
Attributable gold equivalent production for the six months ended 30 June 2021 increased marginally YoY to 1,104koz (H1 2020: 1,087koz).
All-in sustaining costs (AISC) for the Group for H1 2021 are US$1,093/oz, compared to US$987/oz in H1 2020, an increase of 11% YoY, driven by an increase in net operating costs.
All-in costs (AIC) for H1 2021 are 20% higher YoY at US$1,274/oz (H1 2020: US$1,065/oz) as project capital ramped up at the Salares Norte project in Chile.
For Q2 2021, attributable group gold-equivalent production was 563koz (Q1 2021: 541koz), with AISC of US$1,107/oz (Q1 2021: US$1,078/oz) and AIC of US$1,297/oz (Q1 2021: US$1,249/oz).