Gold Fields Backs 2026 Guidance After Third-Quarter Update

By Fabiana Negrin Ochoa

Gold Fields said it delivered a steady performance in the third quarter, remaining on track to deliver on the upper end of full-year production guidance,

The South African gold miner said Thursday that attributable gold-equivalent production came in 3% lower on the year at 605,000 ounces.

All-in sustaining costs rose 26% from a year earlier to $1,965/oz, and held broadly steady from the second quarter. Gold Fields cited factors including higher gold price-linked royalties, stronger producer country currencies and higher input costs, together with lower year-on-year gold sales in the quarter under review.

Net debt increased to $981 million as of end-September following the payment of an interim dividend and share buybacks.

Gold Fields said its balance sheet remains robust and it has room to fund sustaining capital and investments while supporting shareholder returns.

The miner backed its 2026 guidance, saying it sees attributable gold-equivalent production at the upper end of the 2.4 million ounce to 2.6 million ounce range.

"We expect a stronger fourth quarter, driven by higher planned grades at St Ives, the sale of gold held at Gruyere at quarter-end, continued improvement at Tarkwa and continued strong performance from Salares Norte," it noted.

Despite cost pressures stemming mainly from external factors, all-in sustaining costs and all-in costs are expected to be between $1,800 and $2,000/oz, and $2,075 and $2,300/oz respectively.

In its portfolio growth update, Gold Fields said it remains open to engagement with Northern Star Resources, but that there can be no certainty that further engagement will occur.

Australia's Northern Star in late September rejected a $27.2 billion takeover proposal from Gold Fields that could have created the world's second-largest gold producer. Gold Fields said at the time that it would continue to seek talks.

Write to Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com

(END) Dow Jones Newswires

November 05, 2026 03:12 ET (08:12 GMT)