Gold Fields maintains positive Q1’25 output momentum

Gold Fields, a leading precious metals group, has reported a strong start to the year with a 19% increase in production compared to the previous year. The company remains on track to meet its four-year guidance, emphasizing its commitment to delivering results for its stakeholders. CEO Mike Fraser highlighted the focus on improving safety performance across the business, with an emphasis on delivering production in a safe and reliable manner. The company's Solaris Norte operation faced challenges in the previous year due to severe winter conditions in Chile. However, Gold Fields has seen a 13% improvement in production in the first quarter of 2025 and is on track to sustainably ramp up operations according to plan. The company has undertaken additional winterization projects to prepare for future weather-related challenges, ensuring continuity in its operations. The acquisition of Osisko in October last year has been a significant development for Gold Fields. The company is actively working towards obtaining environmental approvals to support full-scale construction and mining activities. Plans for final investment decisions in the first quarter of 2026 indicate a positive outlook for the Windfall project, with expectations for first production in early 2028. The company is gearing up for an exciting year ahead with a focus on operational excellence and value creation. Regarding the suspension of talks with AngloGold Ashanti about combining two mines in Ghana, Fraser highlighted the changing dynamics of the gold price as a key factor in the decision. While acknowledging the strategic potential of the combination, the focus is currently on maximizing the value of the individual assets and ensuring long-term success. The company remains open to revisiting the conversation in the future, keeping the industrial logic in mind. Looking ahead, Gold Fields' priorities for the next quarter are clear. The company will continue to prioritize safety performance, aiming to create a safe and secure work environment for its employees. Delivering safe and reliable performance, particularly at Solaris Norte, remains a key focus area. The company is also committed to preparing for the investment decision on the Windfall project and consolidating its acquisition of Gold Road Resources. CEO Mike Fraser expressed confidence in the team's ability to deliver on these priorities and generate significant value for shareholders. With a strong start to the year and a clear roadmap for the future, Gold Fields is poised for continued success in the coming quarters.