INVESTORS AND MEDIA Media release
Johannesburg, 13 November 2023: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) is pleased to announce that it was ranked first in the Sunday Times Top 100 Companies for 2023. The awards celebrate top-performing companies on the Johannesburg Stock Exchange (JSE), recognising those that have delivered the best shareholder value over the past five years.
Based on the criteria used by the Sunday Times, Gold Fields delivered total returns of 668% to shareholders over the five-year period from 1 September 2018 to 31 August 2023, assuming all dividends paid over the period were reinvested. This means an initial investment of R10,000 in Gold Fields shares five years ago, would have grown to R76,827 today – an annual compound return of over 50%.
In receiving the award, Gold Fields Interim CEO Martin Preece said: “For us this award is a recognition of the consistent and sustainable operational and financial performance that the company has delivered over the past few years despite a challenging operating environment for gold miners over the period.”
“It is credit to the strong operational teams across our mines and projects around the world. We are mining at South Deep at 3,000m below the surface and have nearly completed building a new mine on the Atacama Desert in the Andes at well over 4,500m above sea level. We have the skills and diversity in our business to run our operations safely, profitably and sustainably.”
“I want to assure our shareholders that our company is well managed for their benefit, and importantly for that of all our stakeholders, including our people, communities, business partners and governments. Our company could not also prosper if it did not continue to address some of the societal and environmental issues that impact our people and communities.”
“I believe corporates globally, and critically in South Africa, continue to be a force for good and will continue to make a positive impact,” Preece said.”
Nine of the Sunday Times Top 10 companies were mining companies, while six of those were gold miners. This reflects the resilience of the gold industry in South Africa, despite significant gold price volatility and difficult economic and social operating environments.
Preece said: “In South Africa, in 2022 alone, the mining industry grew employment by more than 15,500 jobs to reach 475,561 employees and paid approximately R175bn in employee earnings. For us in the mining industry, responsible and sustainable mining is not only key to our world today but is critical to unlocking a greener future for our children and grand-children.”