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The group, which operates gold mines across three continents, yesterday declared an interim dividend of R3 per ordinary share, which would be paid out of income reserves.
Attributable gold equivalent production for the first half of 2022 was 1.2 million ounces, a 9 percent increase year on year. Headline earnings per share rose by almost 3 percent to $518 million (R8.7 billion) amid a 3 percent rise in prices in dollars, and 11 percent in rand. Net debt decreased by 22.4 percent to $851m.
The operating environment during the first half of 2022 was dominated by elevated mining cost inflation driven by rising commodity and fuel prices.
"As a result of the increased production combined with a 3 percent higher gold price, the company increased its normalised earnings by 16 percent year on year and generated a strong free cash flow of $293m," the group said.
Gold Fields maintained its full-year cost guidance and production guidance of between 2.31 million and 2.36 million ounces.
Chief executive Chris Griffith said: "We have a great set of results of the first half while there were concerns about the Yamana deal. These results prove that Gold Fields is in great shape, operations are well run, there is growth and production."
In May the group announced that it planned to buy Canadian rival Yamana Gold for $6.7bn in an all-share deal.
"We maintain the view that the acquisition of Yamana represents the best option to accelerate Gold Fields" growth strategy and deliver long-term shareholder value," Griffith said.
The transaction is subject to the approval of both Gold Fields' and Yamana's shareholders.
"At this stage, we expect the shareholder meetings to take place end October or early November 2022, with a potential closing of the transaction by mid-November 2022," Griffith said.
In the South Africa region, attributable gold production at South Deep increased by 28 percent from 3 828kg to 4 915kg in the reported period.
Attributable gold production at the West African operations, including Asanko, decreased by 4 percent from 401 million ounces for the six months ended June 30, 2021, to 386 million ounces.
The group said there might be a further potential delay in the commissioning of its Salares Norte project in Chile following severe weather in the second quarter and the continued negative effects of the Covid-19 pandemic.
