Gold Fields Profit Surges Despite Ghana Licence Risk
Gold Fields reported an 81 percent jump in half-year profit driven by higher gold prices and output. However, uncertainty over the renewal of its Ghanaian mining leases is weighing on the company valuation.
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GOLD FIELDS LTD posted an 81% surge in half-year profit to $2.08 per share on Tuesday morning, driven by higher output and rising Gold prices. The strong financial performance came alongside a warning that renewal delays for key mining leases are weighing on the miner's valuation. South Africa-based Gold Fields reported that ongoing uncertainty over its operations in Ghana has left its shares trading at a discount compared to industry peers.
