They want to become the Exxon of the gold sector — so big that the generalist investor thinks of them when they think of gold," says analyst.

The company also shared over C$330 million with its shareholders in dividends and share buybacks.

Gold Fields shares fell 5% on Thursday after it flagged a further delay at its Salares Norte project in Chile.

Harmony expects to report a 10% jump in production costs.

For 2023, Newmont has given production guidance between 5.7 and 6.3 million gold ounces.

Nigeria’s only industrial gold mine yielded 98,000 ounces of the precious metal last year.

Production likely to fall, miner says.

Hope Brook project holds an indicated resource totaling 16.2 million tonnes grading 2.3 grams gold per tonne for 1.2 million oz.