Gold Fields Posts Strong Q3 2025 Results with Solid Operational and Financial Performance

Gold Fields has delivered a strong operational and financial performance in the third quarter of 2025, further solidifying its reputation as one of the world’s leading gold producers. The quarter’s results were characterized by safe and efficient operations, disciplined cost management, and significant progress on strategic growth projects. These achievements have positioned the company well to meet its full-year production and cost guidance, reflecting continued resilience in a dynamic commodities market.

During the quarter, Gold Fields maintained its strong safety culture with no fatalities recorded, though three serious injuries served as a reminder of the need for ongoing vigilance in operational environments. The company’s attributable gold-equivalent production rose by 6% quarter-on-quarter and an impressive 22% year-on-year, driven largely by the ramp-up of the Salares Norte project in Chile. This increase in output, coupled with a sustained focus on cost efficiency, contributed to a marked improvement in profitability. The company’s All-in Sustaining Costs (AISC) dropped by 10% quarter-on-quarter to US$1,557 per ounce, while its All-in Costs (AIC) fell by 11% to US$1,835 per ounce, underscoring its ability to balance production growth with cost discipline.

Financially, Gold Fields made remarkable strides in strengthening its balance sheet. Net debt was reduced by US$696 million to US$791 million, bringing the debt-to-EBITDA ratio down to an impressive 0.17x. This deleveraging was supported by the monetisation of Northern Star Resources shares, which generated A$1.1 billion primarily used for debt repayment. Additionally, the completion of the Gold Road Resources acquisition secured 100% ownership of the Gruyere mine in Western Australia, further enhancing the company’s asset portfolio and production profile. Commercial production was officially achieved at Salares Norte, while exploration activities advanced across key jurisdictions including Australia, Canada, Chile, and Peru.

Looking ahead, Gold Fields remains firmly on track to achieve its 2025 production guidance of 2.25–2.45 million ounces at an AISC between US$1,500 and US$1,650 per ounce. The company’s ongoing investments in safety, operational excellence, and exploration demonstrate its long-term commitment to sustainable and profitable growth. For Africa and other resource-rich regions, Gold Fields’ success story serves as an encouraging signal of renewed investor confidence and continued development within the global mining industry. Its disciplined approach to cost management and expansion could further stimulate cross-border partnerships and technological innovation within the sector.

Mini-Glossary

• AISC (All-in Sustaining Costs): A measure of the total cost of producing an ounce of gold, including direct mining costs and sustaining capital expenditures.
• AIC (All-in Costs): A broader measure that includes AISC plus additional costs such as project capital and exploration expenses.
• EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortisation, a common indicator of a company’s financial performance.
• Moz: Million ounces, a unit used to measure gold production.
• Ramp-up: The gradual increase in production as a new mine or project moves toward full operational capacity.