Gold Fields’s spending plans leave much to ponder
WHAT grade might one give a CEO whose company has gained nearly 200% so far this year? An A, surely? In the rarefied world of gold shares, however, you might opt for a B or even…
Gold Fields to extend Tarkwa after lifting gold reserve price
GOLD Fields said on Wednesday it hoped to renew the mining lease of Tarkwa after the group increased the Ghana mine’s gold reserves by 70%. CEO Mike Fraser described the…
South Deep ‘belongs’ in Harmony, says gold miner
GIVEN all that he has on his plate, it is perhaps surprising that Harmony Gold CEO Beyers Nel is still looking around for further merger and acquisition (M&A) opportunities. Nel…
Gold Fields’s Osisko deal looking “significantly cheaper”
THE improvement in the gold price and weakness in the Canadian dollar has made Gold Fields’s purchase of Osisko Mining in October look “significantly cheaper”, said the gold…
Gold Fields’ torrid first quarter sees Salares Norte fall short
GOLD Fields on Tuesday warned of further production difficulties at its $1.2bn Salares Note mine in Chile which it said was ramping up slower than anticipated. Production…
Gold Fields to post flat earnings for 2023 despite project delay
GOLD Fields is expected to report largely flat basic earnings year-on-year as lower write-downs in the year to December 2023 offset a one-off break-fee payment in 2022.…
Into the deep end for Gold Fields CEO Mike Fraser
IN-trays don’t get much fuller than those of the new Gold Fields CEO Mike Fraser. A delayed gold project in Chile, an incomplete joint venture in Ghana, a brand new executive…
Gold Fields says miner killed underground at South Deep
MIKE Fraser’s tenure as CEO of Gold Fields couldn’t have gotten off to a worse start after the company today said a miner had been killed at the firm’s South Deep mine. The…
Gold Fields to sell 45% stake in Asanko for $170m
GOLD Fields is to sell its 45% stake in Ghana mine Asanko to joint venture partner Galiano Gold, a Toronto-listed firm, for $170m. An upfront payment of $85m will be paid for the…
Gold Fields says progress “slower than expected” on AngloGold JV
GOLD Fields said it was taking longer than expected to conclude an agreement to form a joint venture with AngloGold Ashanti on adjacent mines in Ghana. The deal – announced in…
What does Mike Fraser as CEO mean for Gold Fields?
GOLD Fields has a new leader. But much to the market’s relief, strategy is not expected to change. Mike Fraser, a former BHP and South32 executive who will take the helm in…
Gold Fields CEO-designate keen to bring junior mining opportunities
GOLD Fields CEO designate Mike Fraser said he hoped to bring his recent experience as CEO of a junior gold mining firm to the Johannesburg-headquatered group because that was…
Gold Fields says former South32 COO Mike Fraser to be new CEO
GOLD Fields announced that former South32 executive Mike Fraser would be its new CEO, effective from January 2024. In order to ensure a seamless takeover, Gold Fields interim CEO…
Gold Fields ties up A$500m ESG-linked loan in Oz
GOLD Fields said it had agreed a new sustainability-linked syndicated credit facility with Australian lenders which represented the first of its type for the country’s gold…
Africa’s political risk isn’t what it’s cracked up to be
AFRICA struggles to attract major investment from Toronto’s stock exchange, which can count its investors as among the world’s most optimistic. Its venture market had 47 new…
Gold Fields to unveil new CEO in two weeks
GOLD Fields will announce a new CEO in about two weeks time, said Bloomberg News citing the group’s interim boss Martin Preece. Preece told the newswire the company had recently…
Gold Fields ‘distressed’ after survey uncovers rampant workplace bullying
GOLD Fields said it was “distressed” to learn the scale of bullying, racism, and sexual harrassment in the organisation following an internal review. About 47% of 1,310 employees…
Volatile trading in Gold Fields stock as yet another top executive quits
Yet another top Gold Fields executive has jumped ship bringing the total to five since October – including former CEO Chris Griffith – with the announcement in today’s interim…
How Gold Fields lost two leaders but kept its head
EXECUTIVES at Barrick Gold shook hands in public and sniggered in private. That was the story behind the $1.2bn cash sale in 2006 of the Canadian firm’s 50% stake in South Deep,…
Gold Fields to post decline in interim earnings on lower gold sales
GOLD Fields is to report a decline in interim earnings of between 9% and 16% owing to lower sales and cost inflation. Commenting in a trading statement today, the group also said…