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Fri 1 Aug 2025
Close: 45 965c 
Day's move: 1 885c (4.28%)
Volume: 3 149 990
Trades: 18 944
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Continuing operations
Revenue for the period rose to USD5.2 billion (USD4.5 billion) with profit before royalties, taxation and non-recurring items increasing to USD2.1 billion (USD1.5 billion). Profit attributable to owners of the parent leaped to USD1.2 billion (USD722.2 million). Additionally, headline earnings per share inclined to USD133c per share (USD91c per share).
Final cash dividend
The Board has approved and declared a final dividend number 101 of 700 SA cents per ordinary share (gross) in respect of the year ended 31 December 2024. The final dividend will be subject to the dividend withholding tax of 20% (twenty per cent). In accordance with paragraph 11.17 of the JSE Listings Requirements, the dividend has been declared out of income reserves.
Company outlook
Our primary focus for 2025 is ensuring safe, reliable and cost-effective delivery against our production plans and guidance for the year. This will provide the platform for continued progress of our strategic priorities which are aligned to the three strategic pillars of the business.
For 2025, attributable gold equivalent production is expected to be between 2.250Moz - 2.450Moz (compared to 2.071Moz delivered in 2024). AISC is expected to be between USD1 500/oz - USD1 650/oz, and AIC is expected to be between USD1 780/oz - USD1 930/oz. Included in non-sustaining capital expenditure is AUD167m (USD110m) for the St Ives renewable power project.
Excluding St Ives microgrid, which accounts for approximately USD48/oz, the range for AIC is expected to be between be USD1 732/oz - USD1 882/oz. On an operations only basis, excluding the Windfall project and other corporate projects, AIC is expected to be between USD1 625/oz - USD1 775/oz.
The exchange rates used for our 2025 guidance are: R/USD18.50, USD/ AUD0.66 and CAD/USD0.71. The metal price assumptions for the calculation of royalties and copper and silver by-products are: gold price USD2 700/ oz (AUD4 090/oz, R1 605,900/kg); copper price USD8 900/t and silver price USD29/oz.
2025 is another year in which capital expenditure levels will remain elevated, given the remaining capital budgeted for the renewables microgrid at St Ives, the pre-development capital planned for Windfall, as well as sustaining capex across the portfolio, to maintain the production base of the Group.
Total capex for the Group for the year is expected to be USD1 490bn - USD1 550bn. Sustaining capital is expected to be USD940m - USD970m. The increase in sustaining capital from USD849m in 2024 is driven largely by capital waste stripping at Gruyere and Tarkwa, as well as underground development at Granny Smith. Non-sustaining capex is expected to be USD550m - USD580m, with the largest component of this being the Windfall Project capital of USD400m and the St Ives renewable power project of USD110m.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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