Salares Norte lifts Gold Fields as other mines falter
The Chilean operation strengthened the company’s 2026 outlook while Australian, Ghanaian and Canadian assets face execution pressures.
Gold Fields, a South African miner, is relying on its new Salares Norte mine in northern Chile to boost its production and meet its 2026 output guidance after weaker performance at its mines in Australia and Ghana. The Chilean mine, which began commercial production in 2024, is expected to surpass its full-year guidance, helping the group's production reach the upper end of its forecast.
Despite a harsh start to the South American winter, Salares Norte has shown resilience, while other mines have faced challenges. Production at Gruyere in Australia and Tarkwa in Ghana is at risk due to declining productivity and a slow start, respectively. The company is also weighing local control of its biggest mine in Ghana. Financially, Gold Fields has strengthened with higher gold prices and increased sales, but it has allocated $100 million to a share buyback program amid market volatility.
The company's future depends on the success of projects like Windfall in Canada, but environmental permitting remains incomplete.
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