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{{short description|South African mining company}}
{{Primary sources|date=June 2023}}
{{Use South African English|date=May 2012}}
{{Use South African English|date=May 2012}}
{{Use dmy dates|date=April 2012}}
{{Use dmy dates|date=September 2020}}
{{Infobox company |
{{Infobox company
name = Gold Fields Limited |
| name = Gold Fields Limited
logo = [[File:Gold Fields logo.svg|200px]] |
| logo = Gold Fields logo.svg
| logo_size = 200px
type = Public |
| type = [[Public company|Public]]
traded_as = {{JSE|GFI}}<br />{{NYSE|GFI}}<br />{{Euronext|isin=BE0004529674|GFLB}}<br />{{SWX|GOLI}}<br />{{NASDAQ Dubai|GFI}} |
| traded_as = {{JSE|GFI}}<br />{{NYSE|GFI}} ([[American depositary receipt|ADR]])
foundation = |
| foundation = {{start date and age|1887}} (as Gold Fields of South Africa)<br>{{start date and age|1998}} (merger with [[Gencor]])
location = [[Johannesburg]], South Africa |
| location = [[Johannesburg]], South Africa
| locations = South Africa (four mines), Ghana (two mines), Australia (five mines), Peru (one mine)
| locations = South Africa (one mine), Ghana (two mines), Australia (four mines), Peru (one mine), Canada (one project), Chile (one mine)
| key_people = Cheryl Carolus (Chairwoman)<ref>http://za.news.yahoo.com/carolus-takes-over-gold-fields-chairwoman-103115054--finance.html</ref><br>Alan Wright<br />Nicholas Holland<br />Paul Schmidt<br />Michael Fleischer|
| key_people = Yunus Suleman ([[chairperson]])<ref>{{Cite web |title=Gold Fields names Yunus Suleman as new chair from 2022 |url=https://www.businesslive.co.za/bd/companies/mining/2021-09-02-gold-fields-names-yunus-suleman-as-new-chair-from-2022/ |access-date=2024-03-23 |website=BusinessLIVE |language=en-ZA}}</ref><br>Mike Fraser ([[Chief executive officer|CEO]])<br />Alex Dall (Interim [[Chief financial officer|CFO]])
num_employees = 49,715 (''FY 2010'')<ref name="Sasfin">{{cite book |title=Profiles's Stock Exchange Handbook: October 2010 – January 2011 |year=2010 |publisher=[[Sasfin Holdings Limited|Sasfin]] |location=Johannesburg, South Africa |issn=168000-36 |page=357}}<!--|accessdate=2 October 2010--></ref>|
| num_employees = 17,611 <small> (''FY 2018'')<ref name="AR2017">{{Cite web|url=https://www.goldfields.com/pdf/investors/integrated-annual-reports/2017/iar-2017.pdf|title=Gold Fields 2017 Integrated Annual Report|date=31 December 2017|publisher=Gold Fields|access-date=13 May 2018}}</ref></small>
industry = [[Gold mining]]|
products = Gold |
| industry = [[Gold mining]]
| products = Gold
revenue = [[South African Rand|R]]31.56 billion <small> (''FY 2010'')<ref name="Sasfin"/>
| revenue = [[US Dollar|$]] 4.286 billion <small> (''FY 2022'')<ref name="AR2022">{{Cite web |date=31 December 2022 |title=Gold Fields Limited. Annual Financial Report including Governance Report 2022 |url=https://www.goldfields.com/pdf/investors/integrated-annual-reports/2022/annual-financial-report-2022.pdf}}</ref></small>
| net_income = [[South African Rand|R]]7.73 billion <small> (''FY 2010'')<ref name="Sasfin"/>
| net_income = [[US Dollar|$]] 721.7 million <small> (''FY 2022'')<ref name=AR2022/></small>
| homepage = [http://www.goldfields.co.za/ www.goldfields.co.za]}}
| homepage = {{URL|www.goldfields.com}}
⚫
'''Gold Fields Limited''' is a South African [[gold mining]] firm, one of the world’s largest, which is listed on both the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE). The firm was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. As of the third quarter of 2014, Gold Field was the world's seventh-largest producer of gold.<ref>Simon Walker, "Gold: new fundamentals, ''Engineering & Mining Journal'', Feb. 2015, v.216 n.2 p.34</ref>
}}
⚫
'''Gold Fields Limited''' (formerly The Gold Fields of South Africa) is one of the world's largest [[gold mining]] firms. Headquartered in [[Johannesburg]], [[South Africa]], the company is listed on both the [[Johannesburg Stock Exchange]] (JSE) and the [[New York Stock Exchange]] (NYSE). The firm was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and [[Gencor]] Limited. The company traces its roots back to 1887, when [[Cecil Rhodes]] founded Gold Fields of South Africa Limited. As of 2019, Gold Fields was the world's eighth-largest producer of gold.<ref>Walker, Simon (February 2015), "Gold: new fundamentals", ''Engineering & Mining Journal'', vol. 216, p. 34, n. 2..</ref>


The company is headquartered in Johannesburg, South Africa. It owns and operates mines in South Africa, Ghana, Australia and Peru. It's growth efforts are focused mainly in the regions where it already has a footprint and are mainly driven through brown fields exploration on its existing land positions and through opportunistic M&A in the same regions. Its chairperson is Cheryl Carolus and the CEO is Nick Holland.
The company owns and operates mines in Australia, Chile, Ghana, Peru and South Africa, with one 50:50 JV project in Canada. Growth efforts are focused mainly on the regions where it currently operates and are mainly driven through brownfields exploration on its existing land positions and through mergers and acquisitions in the same regions.


==Board of directors==
==Board of directors==
* Chairperson – Yunus Suleman
* Chairman – [[Cheryl Carolus]]<ref name="GFields">{{cite web |url=http://www.goldfields.co.za/ |title=Gold Fields Company website |publisher=Gold Fields |deadurl=no |accessdate=10 September 2013}}</ref>


===Executive Directors===
===Executive directors===
* Chief Executive Officer – Nicholas J Holland
* [[Chief executive officer]] (CEO) – Mike Fraser
* [[Chief financial officer]] (Interim CFO) – Alex Dall
: Holland has worked in financial management for 29 years, 21 years of which were spent in the mining sector. He has been an executive at Gold fields since 1998, becoming CEO in 2008. Holland is also a director of the [[Rand Refinery]], one of the world's largest gold refineries.<ref name="GFields"/>
* Chief Financial Officer – Paul A Schmidt


==Operations==
==Operations==


===Australia===
===Australia===
* [[Agnew Gold Mine]]
* [[Agnew Gold Mine|Agnew]]
* [[St Ives Gold Mine]]
* [[St Ives Gold Mine|St Ives]]
* [[Granny Smith Gold Mine]]
* [[Granny Smith Gold Mine|Granny Smith]]
* [[Darlot Gold Mine]]
* [[Gruyere Gold Mine|Gruyere]] (a 50:50 JV with Gold Road Resources)

===Ghana===
===Ghana===
* Tarkwa Gold Mine
* [[Tarkwa Gold Mine|Tarkwa]]
: 4km west of the town of [[Tarkwa]]
⚫
* Damang Gold Mine
: 30km north of the neighbouring Tarkwa Gold Mine


⚫
* [[Damang Gold Mine|Damang]]
===Peru===
===Peru===


* Cerro Corona Gold Mine
* Cerro Corona
: The Cerro Corona Mine in Peru is in the highest part of the western Cordillera of the Andes Mountains in the north of the country.

===South Africa===
===South Africa===
* [[South Deep mine|South Deep Gold Mine]]
* [[South Deep mine|South Deep]]

In 2012, Gold Fields Limited unbundled its subsidiary, GFI Mining South Africa Proprietary Limited, which was then renamed Sibanye Gold Limited, and consisted of the KDC (formerly Kloof) and Beatrix mines, as well as an array of support service entities in South Africa.<ref>[https://www.sibanyestillwater.com/investors/news/company-announcements/2012/item/48-the-creation-of-sibanye-gold-limited-through-the-unbundling-and-separate-listing-of-gfimsa Sibanye-Stillwater]{{Dead link|date=December 2022 |bot=InternetArchiveBot |fix-attempted=yes }} "Company Announcements", Sibanye-Stillwater, 29 November 2012. Retrieved 11 April 2018.</ref><ref>[https://www.ft.com/content/b63fe56e-afe7-348e-b71e-5f6cf55bdf65 Minto, Rob] "Gold Fields and Sibanye: low start", ''Financial Times'', 11 February 2013. Retrieved 11 April 2018.]</ref> The three mines transferred from Gold Fields to Sibanye, later [[Sibanye-Stillwater]], were:

* Beatrix gold mine
* KDC mine (formerly Kloof)
* Driefontein mine

===Chile===
* Salares Norte

===Canada===
* Windfall project (50:50 JV with Osisko Mining)
In 2024, [https://www.overend.co.za/download/final-media-release-gold-fields-osisko-transaction-english.pdf Gold Fields announced that it has entered into a definitive agreement with Osisko Mining] to acquire all the common shares of Osisko Mining on the Toronto Stock Exchange (TSX). This transaction, if approved by Osisko Mining shareholders, will give Gold Fields full control of the Windfall Project in Québec, Canada, currently jointly and equally owned and managed by Gold Fields and Osisko Mining.

== Environment ==
In October 2001 a tailings dam ruptured at the company's Tarkwa Gold Mine in Ghana resulting in thousands of cubic metres of mine waste water spilling into the Asuman River and resulting in the death of significant marine life.<ref>{{Cite web|title=Ghana: Cyanide Spill Worst Disaster Ever in West African Nation|url=http://www.minesandcommunities.org/article.php?a=1078&l=1|website=www.minesandcommunities.org|access-date=2020-05-24}}</ref> While acknowledging the cyanide spill the company stated at the time that the spill did not affect human health or safety.<ref>{{Cite web|title=Goldfields says no danger to human health during cyanide spill|url=https://www.ghanaweb.com/GhanaHomePage/NewsArchive/Goldfields-says-no-danger-to-human-health-during-cyanide-spill-19133|website=www.ghanaweb.com|language=en|access-date=2020-05-24}}</ref>

A further incident occurred in 2003 when water from an abandoned underground mine shaft, again at the company's Tarkwa Gold Mine, was identified as having seeped into the Asuman River sparking further fears of contamination.<ref>{{Cite web|title=Ghana Gold Mine Spills into River Polluted in 2001|url=http://www.minesandcommunities.org/article.php?a=1079&l=1|website=www.minesandcommunities.org|access-date=2020-05-24}}</ref>

In July 2012 the company was directed by the [[Ghana Environmental Protection Agency]] to halt a gold-recovery plant at the Tarkwa Gold Mine because water discharged from the site required additional treatment.<ref>{{Cite news|last=Cooke|first=Carli|date=26 July 2012|title=Gold Fields Halts Ghana Plant After Environment Agency Order|work=Bloomberg|url=https://www.bloomberg.com/news/articles/2012-07-26/gold-fields-halts-ghana-plant-after-environment-agency-order-1-}}</ref>


==Bibliography==
==Bibliography==
* ''Gold Fields: A Centenary [[Portrait]]'' by [[Paul Johnson (writer)]]. Many black and white, colour plates of personnel and topography. Includes an image of Guy Carleton Jones, and refers to Consolidated Gold Fields and its subsidiary companies.<ref>Published by Weidenfeld and Nicolson (London) in 1987 with ISBN 0-297-78967-8</ref>
* ''Gold Fields: A Centenary [[Portrait]]'' by [[Paul Johnson (writer)|Paul Johnson]]. Many black and white, colour plates of personnel and topography. Includes an image of Guy Carleton Jones, and refers to Consolidated Gold Fields and its subsidiary companies.<ref>Published by Weidenfeld and Nicolson (London) in 1987 with {{ISBN|0-297-78967-8}}</ref>


==References==
==References==
Line 57: Line 75:


==External links==
==External links==
* {{PM20|FID=co/005359|TEXT=Documents and clippings about|NAME=}}
* [http://www.goldfields.co.za/ Gold Fields Limited]


{{Witwatersrand companies}}
{{Authority control}}

[[Category:Gold Fields| ]]
[[Category:Gold mining companies of South Africa]]
[[Category:Gold mining companies of South Africa]]
[[Category:Companies based in Johannesburg]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies listed on the Johannesburg Stock Exchange]]
[[Category:Companies listed on the Johannesburg Stock Exchange]]
[[Category:Companies in the FTSE/JSE Top 40 Index]]

{{SouthAfrica-company-stub}}

Latest revision as of 18:46, 25 November 2024

Gold Fields Limited
Company typePublic
JSE: GFI
NYSE: GFI (ADR)
IndustryGold mining
Founded1887; 137 years ago (1887) (as Gold Fields of South Africa)
1998; 26 years ago (1998) (merger with Gencor)
HeadquartersJohannesburg, South Africa
Number of locations
South Africa (one mine), Ghana (two mines), Australia (four mines), Peru (one mine), Canada (one project), Chile (one mine)
Key people
Yunus Suleman (chairperson)[1]
Mike Fraser (CEO)
Alex Dall (Interim CFO)
ProductsGold
Revenue$ 4.286 billion (FY 2022)[2]
$ 721.7 million (FY 2022)[2]
Number of employees
17,611 (FY 2018)[3]
Websitewww.goldfields.com

Gold Fields Limited (formerly The Gold Fields of South Africa) is one of the world's largest gold mining firms. Headquartered in Johannesburg, South Africa, the company is listed on both the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE). The firm was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. The company traces its roots back to 1887, when Cecil Rhodes founded Gold Fields of South Africa Limited. As of 2019, Gold Fields was the world's eighth-largest producer of gold.[4]

The company owns and operates mines in Australia, Chile, Ghana, Peru and South Africa, with one 50:50 JV project in Canada. Growth efforts are focused mainly on the regions where it currently operates and are mainly driven through brownfields exploration on its existing land positions and through mergers and acquisitions in the same regions.

Board of directors

[edit]
  • Chairperson – Yunus Suleman

Executive directors

[edit]

Operations

[edit]

Australia

[edit]

Ghana

[edit]

Peru

[edit]
  • Cerro Corona

South Africa

[edit]

In 2012, Gold Fields Limited unbundled its subsidiary, GFI Mining South Africa Proprietary Limited, which was then renamed Sibanye Gold Limited, and consisted of the KDC (formerly Kloof) and Beatrix mines, as well as an array of support service entities in South Africa.[5][6] The three mines transferred from Gold Fields to Sibanye, later Sibanye-Stillwater, were:

  • Beatrix gold mine
  • KDC mine (formerly Kloof)
  • Driefontein mine

Chile

[edit]
  • Salares Norte

Canada

[edit]
  • Windfall project (50:50 JV with Osisko Mining)

In 2024, Gold Fields announced that it has entered into a definitive agreement with Osisko Mining to acquire all the common shares of Osisko Mining on the Toronto Stock Exchange (TSX). This transaction, if approved by Osisko Mining shareholders, will give Gold Fields full control of the Windfall Project in Québec, Canada, currently jointly and equally owned and managed by Gold Fields and Osisko Mining.

Environment

[edit]

In October 2001 a tailings dam ruptured at the company's Tarkwa Gold Mine in Ghana resulting in thousands of cubic metres of mine waste water spilling into the Asuman River and resulting in the death of significant marine life.[7] While acknowledging the cyanide spill the company stated at the time that the spill did not affect human health or safety.[8]

A further incident occurred in 2003 when water from an abandoned underground mine shaft, again at the company's Tarkwa Gold Mine, was identified as having seeped into the Asuman River sparking further fears of contamination.[9]

In July 2012 the company was directed by the Ghana Environmental Protection Agency to halt a gold-recovery plant at the Tarkwa Gold Mine because water discharged from the site required additional treatment.[10]

Bibliography

[edit]
  • Gold Fields: A Centenary Portrait by Paul Johnson. Many black and white, colour plates of personnel and topography. Includes an image of Guy Carleton Jones, and refers to Consolidated Gold Fields and its subsidiary companies.[11]

References

[edit]
  1. ^ "Gold Fields names Yunus Suleman as new chair from 2022". BusinessLIVE. Retrieved 23 March 2024.
  2. ^ a b "Gold Fields Limited. Annual Financial Report including Governance Report 2022" (PDF). 31 December 2022.
  3. ^ "Gold Fields 2017 Integrated Annual Report" (PDF). Gold Fields. 31 December 2017. Retrieved 13 May 2018.
  4. ^ Walker, Simon (February 2015), "Gold: new fundamentals", Engineering & Mining Journal, vol. 216, p. 34, n. 2..
  5. ^ Sibanye-Stillwater[permanent dead link‍] "Company Announcements", Sibanye-Stillwater, 29 November 2012. Retrieved 11 April 2018.
  6. ^ Minto, Rob "Gold Fields and Sibanye: low start", Financial Times, 11 February 2013. Retrieved 11 April 2018.]
  7. ^ "Ghana: Cyanide Spill Worst Disaster Ever in West African Nation". www.minesandcommunities.org. Retrieved 24 May 2020.
  8. ^ "Goldfields says no danger to human health during cyanide spill". www.ghanaweb.com. Retrieved 24 May 2020.
  9. ^ "Ghana Gold Mine Spills into River Polluted in 2001". www.minesandcommunities.org. Retrieved 24 May 2020.
  10. ^ Cooke, Carli (26 July 2012). "Gold Fields Halts Ghana Plant After Environment Agency Order". Bloomberg.
  11. ^ Published by Weidenfeld and Nicolson (London) in 1987 with ISBN 0-297-78967-8
[edit]
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