Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
JOHANNESBURG, Aug 16 (Reuters) – South Africa’s Gold Fields Ltd said on Thursday half-year profit remained unchanged, with higher exploration expenditure at its Salares Norte operations in Northern Chile weighing on profits.
Headline earnings per share (HEPS) for continuing operations remained unchanged at $0.08 per share for the six months ended June 30, 2018 compared with the same period last year, in line with the company’s estimate.
HEPS is the main profit gauge in South Africa and strips out certain one-off items.
Gold Fields declared an interim dividend of 20 cents ($0.0138) per share compared with 40 cents per share during the same period last year. ($1 = 14.4781 rand)
(Reporting by Tanisha Heiberg; Editing by Joe Brock)
