Gold Fields Limited on Wednesday, revealed that its Company has met production and cost guidance for FY 2022.

The South African based Company warned that its earnings a share will be lower year-on-year, mainly on the back of impairments and other one-off items.

The company reports that it expects to report attributable gold-equivalent production of 2.4‑million ounces – a 3% increase on the 2.34‑million ounces produced in 2021 and higher than the August 2022 guidance of between 2.31‑million and 2.36‑million ounces based on its trading update ahead of the publication of its results, on February 23.

Further, all-in costs are expected to be 2% higher year-on-year at $1 320/oz, but below the lower end of the guidance range of $1 370/oz to $1 410/oz.

Gold Fields attributes the decrease in basic earnings to impairments recognized at the Tarkwa and Cerro Corona operations, in Ghana and Peru, respectively; a write-down of the investment in Far South East; and inflationary cost pressures.

Further, all-in costs are expected to be 2% higher year-on-year at $1 320/oz, but below the lower end of the guidance range of $1 370/oz to $1 410/oz.