Gold Fields

South African mining company

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Gold Fields Limited

Company type| Public

Traded as

| JSE: GFI
NYSE: GFI (ADR)
Industry| Gold mining
Founded| 1887 (as Gold Fields of South Africa)
1998 (merger with Gencor)
Headquarters| Johannesburg, South Africa

Number of locations

| South Africa (one mine), Ghana (two mines), Australia (four mines), Peru (one mine)

Key people

| Yunus Suleman, Chairperson[1]
Mike Fraser, CEO
Paul Schmidt, CFO
Products| Gold
Revenue| $ 4.286 billion  (FY 2022)[2]

Net income

| $ 721.7 million  (FY 2022)[2]

Number of employees

| 17,611  (FY 2018)[3]
Website| www.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 South Africa, Ghana, Australia and Peru. 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]

* Chief executive officer (CEO) – Mike Fraser
* Chief financial officer (CFO) – Paul Schmidt

## Operations[edit]

### Australia[edit]

* Agnew Gold Mine
* St Ives Gold Mine
* Granny Smith Gold Mine
* Gruyere Gold Mine

All the mines are located in Western Australia

### Ghana[edit]

* Tarkwa Gold Mine

4 km west of the town of Tarkwa

* Damang Gold Mine

30 km north of the neighbouring Tarkwa Gold Mine

* 45% of the Asanko Gold Mine

### Peru[edit]

* Cerro Corona Gold Mine

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[edit]

* South Deep Gold Mine

In 2012, Gold Fields Limited unbundled its subsidiary, GFI Mining South Africa Proprietary Limited ("GFIMSA"), which was then renamed Sibanye Gold Limited ("Sibanye Gold"), 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
* Kloof gold mine
* Driefontein gold mine

## 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

## External links[edit]

* Documents and clippings about Gold Fields in the 20th Century Press Archives of the ZBW

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