Gold Fields will reach its 2-million-ounce gold production target in 2019 as it reported a jump in first-quarter output and as new projects and partnerships delivered metal.
Total all-in costs fell to $1,080/oz from $1,150/oz. The average received gold price was $1,298/oz, little changed from a year earlier. In its quarterly update, which gave a snapshot of production performance and did not include any financial information, Gold Fields noted its net debt had stabilised at $1.6bn, the same as at the end of 2018.
In addition to the existing portfolio, Gold Fields will make a decision by mid-2020 on whether to build an R11.6bn mine at Salares Norte in Chile.
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