Resolute Mining interim profit surges amid sharply higher gold price

Resolute Mining Ltd on Friday said it had a ‘very positive’ first half of the year, amid a much higher realised gold price.

The Africa-focused gold miner for the first half of 2025 reported a pretax profit of $124.1 million, up sharply from $53.4 million the year before.

Revenue increased 31% to $447.5 million from $341.5 million.

Gold poured totalled 151,460 ounces, down 9.4% from 167,140 ounces. Gold sales decreased 7.8% to 145,120 ounces from 157,321 ounces.

However, this was more than offset by the average realised gold price rising 42% to $3,076 per ounce from $2,170 a year before. Spot gold was quoted at $3,328.78 an ounce early Friday.

Earnings before interest, tax, depreciation, and amortisation surged 81% to $211.1 million from $116.4 million.

Resolute Mining maintained its full-year production guidance at 275,000 to 300,000 ounces, at least 12% lower than 339,869 ounces in 2024.

Further, it kept an all-in sustaining cost guidance of between $1,650 to $1,750 per ounce, which would be up at least 19% from $1,476 in 2024. In the first half of 2025, this rose by 35% to $1,972 from $1,463 a year before.

‘Resolute has had a very positive first half of the year,’ said Chief Executive Officer Chris Eger.

He added: ‘The licensing process at Doropo [in Ivory Coast] is progressing, and we are continuing to engage productively with the local government. Operationally we remain focused on safety, meeting guidance and ensuring a continued focus on cost reductions which the company continues to demonstrate.’

Resolute Mining shares were up 1.7% to 34.77 pence each on Friday morning in London.

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