South African mining giant sees profits more than triple
Gold Fields has seen its profit rise by over 200% in the first half of 2025 as the group benefits from a sky-high gold price.
Speaking in the group’s interim results for the first half of 2025, CEO Mike Fraser said that the group delivered a strong performance, with momentum from the second half of 2024 continuing.
The group’s attributable production rose 24% to 1,136koz and is on track to meet guidance for the year.
Notably, throughput at Salares Norte in Chile has increased, supported by winterisation measures that enabled the processing plant to operate through the early winter period.
The mine is also on track to achieve commercial production levels during Q3 2025 and steady state throughput in Q4 2025 as planned.
The improved operational performance, coupled with the higher gold price, resulted in a strong financial performance in H1 2025.
Gold prices have reached record highs recently amid increased investor uncertainty, with many drawn to the safe-haven asset amid global tariff chaos.
The group generated adjusted free cash flow of US$952 million compared to an outflow of US$58 million in H1 2024.
Profit attributable to owners of the parent, also known as net income, increased by 220% from US$320.7 million to US$1,027.3 million. At current exchange rates, profit stands at around R18 billion.
As per its dividend policy of paying a base dividend of between 30% to 45% of normalised earnings, the group has upped its interim dividend by 133% to 700 cents.
| Gold Fields Financials | Six months ended June 2025 | Six months ended June 2024 |
|---|---|---|
| Revenue (US$m) | 3,089 | 2,211 |
| Adjusted free cash flow (US$m) | 951.7 | (57.8) |
| Profit attributable to owners of the parent (US$m) | 1,026.7 | 389.0 |
| Profit per share attributable to owners of the parent (US c.p.s.) | 115 | 43 |
| Headline earnings attributable to owners of the parent (US$m) | 1,027.3 | 320.7 |
| Headline earnings per share attributable to owners of the parent (US c.p.s.) | 115 | 36 |
| Normalised profit attributable to owners of the parent (US$m) | 998.2 | 355.2 |
| Normalised profit per share attributable to owners of the parent (US c.p.s.) | 112 | 40 |
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