The blot on the Gold Fields landscape remains its sole remaining asset in SA, the South Deep mine, which has absorbed R29bn so far and has little to show for it, leaving the international assets to generate cash for the group in 2017. Gold Fields is pouring millions of dollars into Australia, Ghana and Chile to replace and grow its gold ounces as it continues to struggle to bring the South Deep mine to account in the first year of a R2.3bn, six-year plan to bring the mine to steady-state production of 480,000oz in 2022. Gold Fields on Wednesday revised the final target down from the 497,000oz released in March 2017 when CEO Nick Holland unveiled the plan.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.