43. MAJOR GROUP INVESTMENTS – DIRECT AND INDIRECT
 

Financial summary

      Shares held   Group beneficial interest  
  Notes   2018    2017    2018    2017   
Subsidiaries                    
Unlisted                    
Abosso Goldfields Ltd6                    
– Class “A” shares 1   49,734,000   49,734,000   90.0   90.0  
– Class “B” shares 1   4,266,000   4,266,000   90.0   90.0  
Agnew Gold Mining Company Pty Ltd 2   54,924,757   54,924,757   100.0   100.0  
Beatrix Mines Ltd 3   96,549,020   96,549,020   100.0   100.0  
Beatrix Mining Ventures Ltd 3   9,625,001   9,625,001   100.0   100.0  
Darlot Mining Company Pty Ltd 2   1   1   100.0   100.0  
Driefontein Consolidated (Pty) Ltd 3   1,000   1,000   100.0   100.0  
GFI Joint Venture Holdings (Pty) Ltd 3   311,668,564   311,668,564   100.0   100.0  
GFL Mining Services Ltd 3   235,676,387   235,676,387   100.0   100.0  
Gold Fields Ghana Ltd7 1   900   900   90.0   90.0  
Gold Fields Group Services (Pty) Ltd 3   1   1   100.0   100.0  
Gold Fields Holdings Company (BVI) Ltd 5   4,084   4,084   100.0   100.0  
Gold Fields La Cima S.A.8 4   1,426,050,205   1,426,050,205   99.5   99.5  
Gold Fields Operations Ltd 3   156,279,947   156,279,947   100.0   100.0  
Gold Fields Orogen Holding (BVI) Ltd 5   356   356   100.0   100.0  
Gruyere Mining Company Pty Ltd 2   1   1   100.0   100.0  
GSM Mining Company Pty Ltd 2   1   1   100.0   100.0  
Kloof Gold Mining Company Ltd 3   138,600,000   138,600,000   100.0   100.0  
Newshelf 899 (Pty) Ltd9 3   90,000,000   90,000,000   100.0   100.0  
St Ives Gold Mining Company Pty Ltd 2   281,051,329   281,051,329   100.0   100.0  
Total                    
1 Incorporated in Ghana.
2 Incorporated in Australia.
3 Incorporated in the Republic of South Africa.
4 Incorporated in Peru.
5 Incorporated in the British Virgin Islands.
6 Abosso Goldfields Ltd (“Abosso”) owns the Damang operation in Ghana. The accumulated non-controlling interest of Abosso at 31 December 2018 amounts to US$5.2 million (2017: US$5.8 million). No dividends were paid to non-controlling interest during 2018 or 2017. Refer to the segment reporting, note 42, for summarised financial information of Damang.
7 Gold Fields Ghana Ltd (“GFG”) owns the Tarkwa operation in Ghana. The accumulated non-controlling interest of GFG at 31 December 2018 amounts to US$115.3 million (2017: US$119.2 million). A dividend of US$9.2 million was advanced to non-controlling interest during 2018 (2017: US$5.8 million). Refer to the segment reporting, note 42, for summarised financial information of Tarkwa.
8 Gold Fields La Cima S.A. (“La Cima”) owns the Cerro Corona operation in Peru. The accumulated non-controlling interest of La Cima at 31 December 2018 amounts to US$1.9 million (2017: US$2.4 million). A dividend of US$0.6 million was paid to non-controlling interest during 2018 (2017: US$0.6 million). Refer to the segment reporting, note 42, for financial information of Cerro Corona.
9 Newshelf is the holding company of GFIJVH and GFO which own the South Deep mine. In terms of the South Deep BEE agreement, there is an agreed phase-in participation of BEE partners over 20 years. The BEE partners’ stake will ultimately be 10%, resulting in a 90% holding by Newshelf.
  Shares held   Group beneficial interest  
Figures in millions unless otherwise stated 2018    2017    2018
% 		   2017
%		  
Other1                
Listed associates                
Maverix Metals Incorporated (“Maverix”) 42,850,000   42,850,000   19.92   27.9   
Rusoro Mining Limited 140,000,001   140,000,001   25.7     25.7   
Joint venture                
Far Southeast Gold Resources Incorporated 1,737,699   1,737,699   40.0     40.0   
Asanko Gold Ghana Limited 450,000,000   –   45.0     –   
Adansi Gold Company Limited 100,000   –   50.0     –   
Shika Group Finance Limited 10,000   –   50.0     –   
Listed equity investments                
Asanko Gold Inc. 22,354,657   –   9.9     –   
Bezant Resources PLC 17,945,922   17,945,922   1.8     2.9   
Cardinal Resources Limited 42,818,182   42,818,182   11.3     11.5   
Cardinal Resources Limited (Options) 38,220,051   38,220,051   25.83   33.02  
Cascadero Copper Corporation –   2,025,000   –     1.1   
Clancy Exploration Limited 17,764,783   17,764,783   0.5     0.6   
Consolidated Woodjam Copper Corporation 16,115,740   12,848,016   19.94   17.2   
Fjordland Exploration Incorporated –   363,636   –     0.8   
Gold Road Resources Limited 87,117,909   87,117,909   9.9     9.9   
Hummingbird Resources PLC 21,258,503   21,258,503   6.0     6.2   
Lefroy Exploration Limited 14,764,535   –   18.2     –   
Magmatic Resources Limited 17,600,000   –   15.0     –   
Orsu Metals Corp 2,613,491   2,613,491   7.2     7.3   
Radius Gold Incorporated –   3,625,124   –     4.2   
Red 5 Limited 246,875,821   246,875,821   19.95   19.9   
1 Only major investments are listed individually
2 Gold Fields owns an additional 10.0 million common share purchase warrants (refer note 17) that are currently exercisable. After inclusion of the warrants, Gold Fields owns 20.5% in Maverix on a diluted basis.
3 If the Group was to exercise all the Cardinal Resources options, the Group’s effective interest would be below 20% and therefore does not have significant influence over Cardinal Resources Limited.
4 An assessment has been performed and the Group does not have significant influence over Consolidated Woodjam Copper Corporation.
5 An assessment has been performed and the Group does not have significant influence over Red 5 Limited.