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Gold Fields expects up to 33% growth in half-year headline earnings on higher production and gold price

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(Kitco News) - Gold Fields (NYSE: GFI) informed Thursday that headline earnings per share for H1 2022 are expected to range from US$0.56-0.60 per share, which is 24% to 33% higher than the headline earnings of US$0.45 per share reported for H1 2021.

The company explained that the increase in headline earnings is driven by higher production and gold price, partially offset by higher costs.

Basic earnings per share for H1 2021 are expected to range from US$0.55-0.59 per share, which is 25% to 34% higher than the basic earnings of US$0.44 per share reported for H1 2021.

For Q2 2022, attributable gold equivalent production is expected to be 621koz (Q1 2022: 580koz), with all-in sustaining costs (AISC) expected to be US$1,146/oz (Q1 2022: US$1,150/oz).

The company’s attributable gold equivalent production for H1 2022 is expected to be 1,201koz, a 9% increase YoY (H1 2021: 1,104koz). AISC for H1 2022 is expected to be US$1,148/oz (H1 2021: US$1,093/ oz), a 5% increase YoY.

Gold Fields is a major gold producer globally. The company has nine operating mines in Australia, Peru, South Africa and West Africa (including the Asanko JV) and one project in Chile.

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