Gold Fields met its production and cost guidance for FY 2022
Johannesburg – Gold Fields has advised that it met production and cost guidance for FY 2022. Attributable gold equivalent production for FY 2022 is expected to be 2,399koz, a 3% increase YoY (FY 2021: 2,340koz), exceeding the guidance range(upgraded in August 2022) of 2,310koz – 2,360koz.
All-in costs (AIC) for FY 2022 is expected to be US$1,320/oz, 2% higher than FY 2021 (US$1,297/oz), and below the lower end of the guidance range of US$1,370/oz – US$1,410/oz.
The YoY increase is driven by an increase in operating costs due to mining inflation, partially offset by decreased project capex at Salares Norte and weaker exchange rates. AIC, if adjusted to 2022 guidance exchange rates (R/US$15.55 and US$/A$0.76), is expected to be US$1,381/oz, within the guidance range.
All-in sustaining costs (AISC) for FY 2022 is expected to be US$1,105/oz, 4% higher than FY 2021 (US$1,063/ oz), also below the lower end of the guidance range of US$1,140/oz – US$1,180/oz. AISC, if adjusted to 2022 guidance exchange rates, is expected to be US$1,160/oz, also within the guidance range.
For Q4 2022, attributable gold equivalent production is expected to be 601koz(Q3 2022: 597koz), with AIC for the quarter expected to be US$1,298/oz (Q3 2022: US$1,279/oz). AISC is expected to be US$1,063/oz (Q3 2022: US$1,061/oz).
