JOHANNESBURG, Aug 23 (Reuters) - Gold Fields (GFIJ.J) , opens new tab said on Friday it expects to produce much less gold this year than previously forecast, as weather-related challenges weigh down production at a new mine in Chile.

The Johannesburg-based gold miner said its 2024 output has been scaled down to between 2 million ounces and 2.15 million ounces from a previous forecast of about 2.3 million ounces.

Gold Fields' profit slumped to $320.7 million in the first half of this year ended June 30, compared with about $458 million a year ago, taking a hit from declining gold output.

It also faced production setbacks at South Deep mine in South Africa during the reported period.

Earlier this month, Gold Fields agreed to buy Canadian miner Osisko (OSK.TO) , opens new tab for about $1.57 billion cash, in a deal that will help it grow in the Americas region.

The operational performance was "disappointing", CEO Mike Fraser said in a statement, adding that the decline in output during the first half was due to unplanned events and delays in raising output at the new Salares Norte mine in Chile.

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https://www.reuters.com/markets/commodities/gold-fields-cuts-output-forecast-icy-weather-weighs-down-chile-mine-2024-08-23/