Gold Fields Flags Slight Drop in Production (IOL)

In its operational update for the quarter ended September 30, 2022, the group, which operates gold mines across three continents, said yesterday that gold production recoiled by 1.5% year on year in the reported period and 3.9% quarter on quarter to 597 000 ounces.However, the South Deep mine, near Johannesburg, delivered a strong quarter, with gold production up 2.32% to 87 900 ounces.
Some shareholders had expressed concern that Gold Fields’ proposed acquisition of Yamana was too expensive, too dilutive of Gold Fields shares and would negatively impact returns for existing shareholders. Under the deal, Gold Fields has offered 0.6 of one of its shares for each Yamana share. The group will know the outcomes as the voting on the deal will take place on November 22, during the firm’s annual general meeting. READ MORE