Gold Fields

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 Field was the world's eighth-largest producer of gold.[4]

Gold Fields Limited
TypePublic
JSE: GFI
NYSE: GFI
IndustryGold mining
Founded1887 (as Gold Fields of South Africa)
1998 (merger with Gencor)
HeadquartersJohannesburg, South Africa
Number of locations
South Africa (one mine), Ghana (two mines), Australia (four mines), Peru (one mine)
Key people
Cheryl Carolus, Chairperson[1]
Chris Griffith, CEO
Paul Schmidt, CFO
ProductsGold
Revenue$ 2.578 billion (FY 2018)[2]
$ -344 million (FY 2018)[2]
Number of employees
17,611 (FY 2018)[3]
Websitewww.goldfields.com

The company owns and operates mines in South Africa, Ghana, Australia and Peru. Growth efforts are focused mainly in 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.

Gold Fields' chairperson is Cheryl Carolus, and the CEO is Chris Griffith.

Board of directors

Executive directors

Operations

Australia
All the mines are located in Western Australia

Ghana
4 km west of the town of Tarkwa
30 km north of the neighbouring Tarkwa Gold Mine
  • 45% of the Asanko Gold Mine

Peru
  • 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

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.[7][8] The three mines transferred from Gold Fields to Sibanye, later Sibanye-Stillwater, were:

  • Beatrix gold mine
  • Kloof gold mine
  • Driefontein gold mine

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.[9] While acknowledging the cyanide spill the company stated at the time that the spill did not affect human health or safety.[10]

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.[11]

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.[12]

Bibliography
  • 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.[13]

References
  1. ZA News
  2. Gold Fields 2018 Integrated Annual Report", Gold Fields, 31 December 2018, pages 56 and 89. Retrieved January 21, 2020.
  3. "Gold Fields 2017 Integrated Annual Report" (PDF). Gold Fields. 31 December 2017. Retrieved 13 May 2018.
  4. Simon Walker, "Gold: new fundamentals, Engineering & Mining Journal, Feb. 2015, v.216 n.2 p.34
  5. "Gold Fields Company website". Gold Fields. Retrieved 10 September 2013.
  6. Gold Fields "Our History", Goldfields.com. Retrieved 20 February 2018.
  7. Sibanye-Stillwater "Company Announcements", Sibanye-Stillwater, 29 November 2012. Retrieved 11 April 2018.
  8. Minto, Rob "Gold Fields and Sibanye: low start", Financial Times, 11 February 2013. Retrieved 11 April 2018.]
  9. "Ghana: Cyanide Spill Worst Disaster Ever in West African Nation". www.minesandcommunities.org. Retrieved 24 May 2020.
  10. "Goldfields says no danger to human health during cyanide spill". www.ghanaweb.com. Retrieved 24 May 2020.
  11. "Ghana Gold Mine Spills into River Polluted in 2001". www.minesandcommunities.org. Retrieved 24 May 2020.
  12. Cooke, Carli (26 July 2012). "Gold Fields Halts Ghana Plant After Environment Agency Order". Bloomberg.
  13. Published by Weidenfeld and Nicolson (London) in 1987 with ISBN 0-297-78967-8
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