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| Company type | Public |
|---|---|
| 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] |
| $ 721.7 million (FY 2022)[2] | |
Number of employees | 17,611 (FY 2018)[3] |
| Website | www |
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.
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:
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]
