GhanaWeb TV




Gold Fields makes US$711m profit for shareholders

Mining trucks at a site | File photo

Sat, 25 Mar 2023 Source:

Gold Fields Limited has announced a profit of US$711 million (US$0.80 per share) to the owners of the parent company for the year ended 31 December 2022.

This compared with a profit of US$789m (US$0.89per share) for the year ended 31 December 2021.

A final dividend number 97 of 445 SA cents per share (gross) is payable on 20 March 2023, giving a total dividend for the year ended 31 December 2022 of 745 SA cents per share (gross).

The miner announced US$431 million as adjusted free cash flow, US$855 million as adjusted free cash flow from operations, US$860 million normalised earnings, 2.399 million ounces of attributable production, US$1,105 per ounce of all-in sustaining costs and US$1,320 per ounce of all-in cost.

The adjusted free cash flow is the cash flow from operating activities less net capital expenditure, environmental payments, lease payments and redemption of Asanko preference shares.

Normalised earnings is the profit excluding gains and losses on foreign exchange, financial instruments and non-recurring items after taxation and non-controlling interest effect.

CEO Martin Preece, in a statement, said: “2022 was an eventful year for Gold Fields, dominated by the Yamana transaction, which we terminated following a competing bid”.

“I have stepped in as interim CEO, after the resignation of Chris Griffith in December 2022. My first commitment to our people is that of Zero Harm”.

“Our concept of Zero Harm does not only cover physical injuries and health, but also includes the psychological well-being of our People. I will work with our teams across the globe to ensure that we achieve this”, he noted.

Related Articles: