This is Gold Fields Our history 1998-2003

Our history 1998 – 2003


A new company, Goldco, is formed from the gold assets of Gold Fields with those of Gencor. Goldco is subsequently renamed Gold Fields Limited. The merger takes place against the background of a tough commercial environment, where costs are outstripping the price of finished gold.


Gold Fields wins control of Driefontein by buying AngloGold’s 21,5% shareholding. The deal makes Gold Fields the world’s second largest gold producer. Then Chairman, Chris Thompson, launches an innovative HIV/AIDS strategy.


Gold Fields acquires the Agnew and St Ives mines in Australia, as well as the Damang mine in Ghana. A ground-breaking HIV/AIDS agreement is signed with the trade unions.


Gold Fields is listed on the New York Stock Exchange, improving its access to US investors. After years of intensive preparation, Gold Fields’ South African operations are awarded the ISO14001 environmental management certification – the first gold mining company in the world to achieve this award.


Gold Fields acquires the Cerro Corona gold-copper porphyry in Peru from Sociedad Minera la Cima SA. In South Africa, the first 10 female trainee miners are awarded their permanent blasting certificates and start full-time shifts at Kloof mine – as part of a broader effort to promote women in mining. In addition, the Living Gold project is launched at Carletonville. The project, which produces roses for export, is funded by Gold Fields and the Industrial Development Corporation as part of a long-term sustainable development strategy.