Gold Fields Limited is a South African gold mining firm formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. The company is headquartered in Johannesburg, South Africa. It owns and operates mines from South Africa to Australia and has a policy of exploring for gold in any country.
Gold Fields’ vision is to become the global leader in sustainable gold mining. This requires the company to take a long-term view of its investment strategy and integrate sustainable development and “responsible gold” considerations into all of its activities, from the earliest stages of exploration through to feasibility studies, construction, mining and, ultimately, to mine closure.
For Gold Fields’ growth goes beyond achieving the goal of 5 million ounces in production or development by 2015. It also means pursuing growth in profitable production, earnings and returns to shareholders on a per share basis. The firm will be ‘internationalizing’ its production base to establish a truly global presence beyond our historical foundation in South Africa. This strategy will take it to new and promising growth environments, where Gold Fields can leverage its expertise and capital to expand production, as well as the company’s Mineral Resources and Mineral Reserves.
This growth and diversification is based on three key activities:
Successful greenfields exploration, both within the firm’s established Australasia, South America and West Africa Regions, and in highly prospective locations beyond these operations in Canada and Kyrgyzstan
Leveraging off large Mineral Resource and Mineral Reserve base through successful near-mine exploration, for example at Damang in Ghana, Agnew and St Ives in Australia and Cerro Corona in Peru
Advancing development at the firm’s four resource development and feasibility projects in Finland, Ghana, Peru and the Philippines
Environment, Health and Safety and Sustainable Development
Gold Fields Exploration has an overriding commitment to sustainable development, which is pursued through effective management of environment, health and safety (EHS). The EHS management system forms the basis for the development and application of the EHS systems at all levels within the Group. This system is based on best practices and meets the requirements of ISO 14001 and OSHAS 18000. Gold Fields seeks to create a mindset and environment where people know it is possible to work incident free, regardless of where they are in the world or what role they undertake. The approach is to apply a set of EHS fundamentals that form foundations of the desired culture, expected behaviors and performance standards within the Group. Gold Fields Exploration sustained zero lost-time incidents from February through to December 2011. The Group continues to aspire to zero harm to employees, the host communities, and to the environment in which the company operates, and will introduce a range of initiatives designed to support that aspiration.
The establishment and maintenance of a strong social license to operate is essential for successful exploration activities. It is also an important factor in the license acquisition process, with many governments offering preference to those companies with a proven track record of constructive community engagement and development. As a result, the implementation of socio-economic development (SED) initiatives in local communities start from the moment the company begins to explore, right through to mine closure.
For Gold Fields Exploration, engagement with stakeholders is a broad and continuous process of contact, dialogue and interaction. These steps assure that affected communities and other stakeholders are adequately informed and able to participate in decisions that affect their lives in a manner that is acceptable to them. The Group believes in the value of being transparent when dealing with the community and that the company complies with the law in all aspects. The focus is on social investment rather than philanthropy, and the company considers itself to be an enabler of community development. Gold Fields believes in the inclusion and participation of stakeholders and capitalizes on existing community skills.
Gold Fields’ social development teams are spread around the world and are embedded with the company’s exploration teams at every project, ensuring consistency of approach and continuity throughout the exploration stages. The objective is to make Gold Fields the global leader in sustainable gold mining.