NYSE- and JSE-listed Gold Fields on Thursday reported a steady 605 000 oz attributable gold-equivalent production for the third quarter of 2026.

The third quarter performance was supported by consistent delivery at St Ives and South Deep, alongside improved production at Tarkwa and Gruyere.

This was partially offset by planned lower production at Salares Norte and lower grades at Agnew.

Albeit an overall 3% lower year-on-year, the output remains in line with the company’s plans, with a better performance expected for the fourth quarter.

All-in sustaining costs (AISC) increased 26% year-on-year to $1 965/oz, primarily owing to external 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.

Despite cost pressures AISC for the year is expected to be between $1 800/oz and $2 000/oz, within the original guidance.

In an operational update for the quarter ended September 30, CEO Mike Fraser said that the group remains on track to deliver on the upper end of full-year production guidance, supported by a stronger fourth quarter owing to planned higher grades at St Ives and further improved performance at Gruyere,Tarkwa and Salares Norte.

During the third quarter under review, Salares Norte performed strongly through the winter months, producing 136 000 oz of gold-equivalent ounces at an AISC of $437/oz.

Gruyere, St Ives, Tarkwa, South Deep and Cerro Corona all delivered quarter-on-quarter production increases.

Gruyere produced 70 000 oz in the third quarter of 2026 owing to a 3% increase in tonnes milled and an improvement in yield, as improvement initiatives continued to gain momentum.

St Ives produced 90 000 oz amid an increase in the ore processed, following the elimination of ventilation constraints at Invincible, while Tarkwa produced 101 000 oz as milled tonnes increased by 5% owing to higher plant availability and use.

Production at South Deep, meanwhile, improved 4% year-on-year to 80 700 oz, driven by an increase in total tonnes mined and higher grades, which also supported higher underground ore milled.

At Cerro Corona, gold-equivalent production declined 29% year-on-year to 29 000 oz with higher tonnes milled and a higher price factor partially offset by the processing of low-grade stockpiles that started in November 2025 in line with the mine's planned profile.

Granny Smith produced 67 000 oz, consistent with the mine schedule, and 3% lower year-on-year amid the lower grade of ore milled, while Agnew produced 47 000 oz, impacted mostly by ventilation interruptions at Waroonga resulting in lower feed grades to the mill.

“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,” said Fraser.

“These factors underpin our expectation to deliver to the upper end of the full-year production guidance range of 2.4-million ounces to 2.6-million ounces.”