Gold Fields plummets on concerns about rising costs
Company is banking on its costly Chile project to boost output by 20% over the next two years
22 February 2024 - 10:24
UPDATED 22 February 2024 - 19:13
Gold Fields lost more than 10% of its market value on Thursday in its biggest one-day fall in six months even though it said production will increase by 20% over the next two years.
The SA-based miner global player, which reported annual earnings on Thursday, is counting on its greenfield Salares Norte project in Chile, expected to come on stream in April after repeated delays, as well South Deep in SA, the potentially lucrative asset that has long been an albatross around its neck...
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