“The increase in headline earnings is driven by the net proceeds relating to the Yamana break fee of $202m,” Gold Fields said.
Gold Fields in May 2022 agreed a deal with Yamana to acquire the Canadian miner in an all-share deal, but the acquisition was scuppered last November when Yamana agreed to a rival $4.8 billion takeover bid from Agnico Eagle and Pan American Silver Corp.
As a result, Yamana was liable to pay Gold Fields a break fee – a financial penalty paid by a party responsible for a deal’s collapse.
Gold Fields, which has operations in South Africa, Australia, Ghana, Peru and Chile, said it produced 2.4 million ounces of gold in 2022, up 3% from 2.34 million ounces the previous year and topping its revised guidance 2.31 to 2.36 million ounces.
Gold Fields’ all-in sustaining costs (AISC) is expected to rise by 4% percent to $1,105 per ounce, below its guidance of $1,140-$1,180 per ounce.
The company will…
