Value creation and distribution
Total and national value distribution
| National value distribution by region and type 2017 (US$m) |
Government | Business | Employees/ contractors |
Communities | Capital providers |
National value distribution |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Americas | 62 | 147 | 38 | 7 | 4 | 257 | ||||||
| Australia | 160 | 815 | 135 | — | — | 1,110 | ||||||
| South Africa | 21 | 221 | 168 | 42 | 12 | 407 | ||||||
| West Africa | 79 | 667 | 115 | 6 | 9 | 876 | ||||||
| Corporate | 7 | 7 | 49 | — | 136 | 199 | ||||||
| Total Gold Fields | 310 | 1,857 | 506 | 17 | 160 | 2,850 | ||||||
Governments
Payments include
Mining royalties and land-use payments, taxes, duties and levies and dividends.
Why these stakeholders matter
Governments provide us with access to ore bodies by granting mining and other licences. They also deliver the infrastructure necessary to build and maintain our mines, including roads, electricity and water supply.
What we contributed in 2017
- We paid governments US$310m (2016: US$235m) in taxes and royalties, 11% of total value distribution (2016: 10%)
- In addition, the Ghanaian government receives dividends relating to its 10% shareholding in Gold Fields Ghana, depending on the Company's performance
National value distribution by region 2017 (US$m)
| Americas | 62 | ||
| Australia | 160 | ||
| South Africa | 21 | ||
| West Africa | 79 | ||
| Corporate | 7 | ||
| Total Gold Fields | 310 |
Business
Payments include
Operational and capital procurements.
Why these stakeholders matter
Supply chain businesses provide the equipment and services needed to develop and maintain our operations. They comprise business partners, contractors and suppliers.
What we contributed in 2017
- We paid US$1,857m to suppliers and contractors, representing 65% of total value creation (2016: US$1,648m/66%)
- Of the total 2017 procurement expenditure, US$1,620m or 88%, was spent on businesses based in operating countries (2016: US$1,360m/83%)
- US$774m, or 45% of total procurement, was spent on suppliers and contractors from host communities (2016: US$558m/41%)
National value distribution by region 2017 (US$m)
| Americas | 147 | ||
| Australia | 815 | ||
| South Africa | 221 | ||
| West Africa | 667 | ||
| Corporate | 7 | ||
| Total Gold Fields | 1,857 |
Workforce
Payments include
Salaries and wages, benefits and bonus payments (including shares and payroll taxes).
Why these stakeholders matter
The technical skills, experience and activity of our people drive the dayto- day operations of our business.
What we contributed in 2017
- We paid US$506m (2016: US$482m) to employees in terms of salaries, dividends and benefits, representing 18% of total value distribution (2016: 19%)
- We also provide employees (where legislated) with additional benefits such as retirement savings, healthcare assistance, life and disability insurance, housing assistance and personal accident cover
National value distribution by region 2017 (US$m)
| Americas | 38 | ||
| Australia | 135 | ||
| South Africa | 168 | ||
| West Africa | 115 | ||
| Corporate | 49 | ||
| Total Gold Fields | 506 |
Communities
Payments include
Socio-economic development (SED) spending, including infrastructure, health and wellbeing, education and training, local environmental initiatives and donations.
Why these stakeholders matter
Host communities are the source of a significant portion of our workforce and a key component of our social licence to operate.
What we contributed in 2017
- We invested US$17m (2016: US$16m) in terms of SED investment
- Independently, the South Deep trusts spent R23m (US$1.7m) in 2017 (2016: R19.3m/US$1.4m)
- 40% of our workforce is drawn from host communities (2016: 48%)
- See p111 for an analysis of our host community employment and procurement as well as other benefits and investment in communities
National value distribution by region 2017 (US$m)
| Americas | 7 | ||
| Australia | — | ||
| South Africa | 42 | ||
| West Africa | 6 | ||
| Corporate | — | ||
| Total Gold Fields | 17 |
Capital providers
Payments include
Interest and dividend payments to capital providers.
Why these stakeholders matter
Financial institutions, shareholders and bond holders invest with us, thus enabling us to fund the development, maintenance and growth of our operations and our overall business.
What we contributed in 2017
- We paid US$160m (2016: US$122m) to the providers of debt and equity capital, mainly in the form of interest and dividends
- Net debt increased by US$137m to US$1,303m during 2017
National value distribution by region 2017 (US$m)
| Americas | 4 | ||
| Australia | — | ||
| South Africa | 12 | ||
| West Africa | 9 | ||
| Corporate | 136 | ||
| Total Gold Fields | 160 |
Managing our impacts
The nature of our mining operations requires that we understand, minimise and manage the impact of our operation.
Community impacts in 2017
Community investments:
US$17m
Funding of projects that directly benefit our host communities
Host community workforce employment:
7,516 people
Around 40% of our total workforce is sourced from host communities
Host community procurement:
US$774m
During 2017 Gold Fields procured 45% of its goods and services from host community enterprises
Environmental impacts in 2017
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Water withdrawal: 33Gℓ |
|
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CO2 emissions: 1.96m tonnes |
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Mining waste: 212m tonnes |
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Energy usage: 12.2m GJ |
Farming vegetables near our Tarkwa mine