Gold Fields La Cima S.A. engages in mining activities in Peru. The company was formerly known as Sociedad Minera La Cima S.A. and changed its name to Gold Fields La Cima S.A. in 2006. Gold Fields La Cima S.A. was founded in 2003 and is headquartered in Lima, Peru.

 

Vision

To be the leader of responsible mining in Peru, recognized and respected, committed to sustainable development and to respect for the environment and operational excellence.

 

Mission

Gold Fields La Cima SAA. is committed to optimizing its operations, social and environmental best practices and sustainable profitable growth, developing the best talent available and promoting relationships of trust and mutual benefit to the surrounding community, to get the best value for their investors.

 

During 2011, Gold Fields Corona (BVI) Limited, a wholly owned subsidiary of Gold Fields Limited, increased its economic interest in Gold Fields La Cima S.A.A., or La Cima, from 80.7% to 98.5%. La Cima holds the Cerro Corona mine, which is located approximately 600 kilometres northnorthwest of Lima and approximately 80 kilometres by road north of Cajamarca city. 

Cerro Corona, which is currently the most profitable mine in Gold Fields, is located in the highest part of the western Cordillera of the Andes Mountains in northern Peru and produces gold and copper from a large open pit.

 

Sustainable Development

The remote location of the operation means that local communities are particularly reliant on Gold Fields for socio-economic development, as well as basic infrastructure, such as roads and telecommunications.

The well-being of local communities is an imperative aspect in Gold Fields La Cima S.A.A policies. Consequently, it has been a part of the business model to implement social development programmes in order to demonstrate corporate commitment from the initial exploration stage in Cerro Corona.

Our target is to join forces and be a strategic partner with direct and indirect influence in regional development and sustainability projects

 

Cerro Corona: Promoting ‘holistic’ local development

Gold Fields has deliberately developed its Cerro Corona mine in Peru as a ‘showcase’ for a holistic approach to sustainable mine development.

This approach is based on three interrelated axes – social, economic and environmental – and focuses on the often close relationship between these areas, as well as the need to adopt an ‘integrated’ approach towards their management. In addition, it is underpinned by the concept that building on existing community ‘capital’ is the best means of driving truly sustainable and long-lasting development. See figure below for examples of projects that Gold Fields has supported as part of this approach.

To date, Gold Fields sustainable management of Cerro Corona has delivered a range of direct and indirect socio-economic and environmental benefits:

 

Social impacts

 

• A total of US$1.4 million has been invested in health and education projects in local communities from 2008 to 2010
• More than US$1 million has been invested in a rural electrification project, which is expected to benefit over 5,000 people

 

Economic impacts

• More than US$100 million has been awarded in contracts to community-based companies (until end 2010)
• A total of 523 workers are employed directly by the mine or by contractors (exceeding Gold Fields original commitment to generate 150 employment positions)
• A total of 99.4% of employees are nationals and approximately 34% are from local communities
• A total of US$24 million has been paid in salaries to local communities from 2008 to 2010

 

Environmental impacts

• Reforestation projects have contributed to a ten-fold increase in initial forest coverage
• Effective water management, including use of a closed water circuit, means the mine only uses 1/6th of its licence allowance

 

These impacts are in addition to US$39 million paid in Canon (tax) in 2010.

Gold Fields is delivering significant benefits to local stakeholders – as well as strengthening its social licence to operate – through the application of a similar integrated development approach at its Far Southeast gold-copper project in the Philippines. Gold Fields is also modelling its approach at the Chucapaca advanced stage exploration project (also in Peru) on the one applied at Cerro Corona.