Gold Fields grapples with issues at Gruyere

The West Australian02-22 18:00

Production has declined at the Gruyere gold mine in the first full quarter of South African giant Gold Fields owning the entire operation, with several issues combining to affect output.Gold Fields on...

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GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thewest.com.au/news/regional/gold-fields-grapples-with-issues-at-gruyere-after-assuming-100-per-cent-control-c-21699702><strong>The West Australian</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Production has declined at the Gruyere gold mine in the first full quarter of South African giant Gold Fields owning the entire operation, with several issues combining to affect output.Gold Fields on...</p>\n\n<a href=\"https://thewest.com.au/news/regional/gold-fields-grapples-with-issues-at-gruyere-after-assuming-100-per-cent-control-c-21699702\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1223083913.SGD","symbol_name":"Schroder ISF Global Gold A Acc SGD-H","start_time":0,"source_url":"https://thewest.com.au/news/regional/gold-fields-grapples-with-issues-at-gruyere-after-assuming-100-per-cent-control-c-21699702","article_id":"2613275022","we_media_id":null,"thumbnails":["https://images.thewest.com.au/publication/C-21699702/0be54953e26985e1de6de4a21cc19008090521e9.jpg"],"rights":{"source":"thewest_stock","url":"https://thewest.com.au/news/regional/gold-fields-grapples-with-issues-at-gruyere-after-assuming-100-per-cent-control-c-21699702","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2613275022","pubTimestamp":1771754400,"columns":[],"sourceInfo":{"source_id":"thewest_stock","name":"The West Australian"},"weMediaInfo":null,"summary":"Production has declined at the Gruyere gold mine in the first full quarter of South African giant Gold Fields owning the entire operation, with several issues combining to affect output.","collect":0,"end_time":0,"defaultTopTitle":"thewest.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1223083913.SGD":"Schroder ISF Global Gold A Acc SGD-H","BK4017":"黄金","LU1223082519.USD":"SCHRODER ISF GLOBAL GOLD \"A\" (USD) INC AV","LU1223082196.USD":"施罗德环球黄金A Acc","GFI":"金田","BK4588":"碎股","BK4585":"ETF&股票定投概念"},"translate_title":"Gold Fields努力解决格鲁耶尔的问题","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GFI":1.5},"content_text":"Production has declined at the Gruyere gold mine in the first full quarter of South African giant Gold Fields owning the entire operation, with several issues combining to affect output.Gold Fields on Thursday reported production at the mine 160km north-east of Laverton fell 6 per cent in the December quarter to 73,400 ounces, down from 78,000oz in the September quarter.The company said this was because of a 5 per cent reduction in tonnes milled following a planned shutdown in December.But it also said ground instability and rock fall incidents had resulted in the resequencing of mining activities to lower-grade areas of the Gruyere pit.The company said head grade was further affected as lower-grade stockpiles were processed to supplement ore feed.Gold Fields said the mine also experienced increased workforce turnover during the second half of last year, resulting in unplanned downtime of production equipment and a decrease in tonnes mined for the period.The company said while these challenges were expected to continue affecting operations at Gruyere in the first quarter of this year, the team had identified action plans to improve mining performance.Gold Fields said these included improving mining fleet equipment availability, implementing optimisation initiatives to unlock mining efficiencies, and engaging with business partners to strengthen retention and recruitment strategies.The company said it was forecasting an increase in Gruyere’s production for the 2026 financial year compared with FY25, with production weighted to the second half.Gold Fields completed the acquisition of Gold Road Resources’ 50 per cent share in September for $3.8 billion.The relationship between the companies was often fraught after the mine poured first gold in 2019, with Gold Road boss Duncan Gibbs criticising the performance of Gold Fields’ management of the mine and rejecting the Johannesburg-headquartered company’s initial “lowball” takeover offer of $3.31b.Gruyere actually produced 3 per cent more gold in the 2025 calendar year — 295,600oz compared with 287,300oz in 2024 — which the company attributed to a 10 per cent increase in tonnes milled partially offset by a 6 per cent reduction in yield.However, this result was below revised guidance of 310,000oz to 320,000oz issued last September, which was a downgrade from the initial target of between 325,000oz and 355,000oz.Gold Fields said the Gruyere open pit achieved a 37 per cent increase in tonnes mined last year compared to 2024.However, all-in-sustaining costs were 27 per cent higher last year at $3150/oz compared with 2024.Again, this was above revised cost guidance issued last September of $2600/oz to $2800/oz.The company said an increase in cost of sales before amortisation and depreciation related mainly to higher mining unit costs as a result of higher contractor mining rates and additional processing plant maintenance costs.But the mine overall made more money, with adjusted pre-tax free cash flow increasing by 146 per cent to $458m in 2025 from $186 in 2024 because of the higher gold price and recognition of cash flows at 100 per cent post the acquisition.Gold Road set Gruyere production guidance for 2026 at 300,000oz to 320,000oz at an AISC of $3300/oz to $3500/oz.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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