By: Reuters

South Africa's Gold Fields raised its interim dividends on Friday as first-half profit more than tripled from a year earlier, mainly driven by higher bullion prices and increased output.

Gold Fields' headline earnings rose to $1.027 billion in the six months to June 30, compared with $320.7 million in the same period last year.

The company declared an interim dividend of 7 rand ($0.3948) per share, up from 3 rand per share in the first half of 2024.

The Johannesburg-based miner's gold production rose 24% to 1.136 million ounces in the first half. This, along with a record price rally for bullion, drove Gold Fields' income higher.

Gold Fields said its production benefited from operational improvements at Salares Norte in Chile, South Deep in South Africa, Cerro Corona in Peru and Gruyere in Australia, where output last year was impacted by bad weather and geological challenges.

($1 = 17.7286 rand)