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Integrated Annual Report 2019
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Gold Fields recognises that remuneration is a critical part of value creation. We are committed to aligning our employees' remuneration to our strategic objectives, as embodied in our Group Business Scorecard (BSC). The Group BSC is then cascaded into individual scorecards, to ensure individual effort drives Group performance. Below is a summary of our CEO Nick Holland's BSC for 2019 and his performance against it. His average score for 2019 was 3.8 out of 5, as evaluated by the Remuneration Committee. The Board believes that by reflecting on the CEO's scorecard and how it drives value creation, we demonstrate to our stakeholders our commitment to fair and transparent reporting. Performance against individual BSC targets informs 35% of the CEO's annual performance bonus, while his performance against the Group BSC targets inform the remaining 65% (which includes sustainability-related targets).

Weight Target   2019 Results   Rating
out of 5
10% Improve liquidity by reducing net debtTarget: US$100m debt reductionStretch target: US$150m debt reduction   Net debt reduced by US$281m to US$1,331m (pre-IFRS 16)   5
15% Deliver the 2019 South Deep business plan through disciplined execution and improved productivity.Target: 477t mined/employee  
  • South Deep achieved a 45% annual improvement on 2018 in tonnes mined per employee at 418t
15% Improve internal business planning processes at South Deep by achieving 85% compliance to the mining plan.  
  • South Deep achieved 87% compliance to the mine plan1 – and a 7% improvement on 2018
  • Backfill production was at record levels at 426,338m3
  • Ground support at 12.8km was a 37% improvement on 2018
10% Delivery of the Gruyere project  
  • First crusher feed 20 January 2019
  • First gold production 30 June 2019
  • Substantial completion 20 July 2019
  • 2019 production at 99koz, at the top end of market guidance
Delivery of Gruyere project capital cost.
Target: A$621m
Stretch: A$612m
  • Final project capital cost was A$610m
10% Delivery of Damang project to the following targets:
  • Total ore mined 31.8Mt
  • Gold produced 218koz
  • Mill throughput 4.3Mt
  • 75% spatial compliance to plan
  • Total tonnes mined of 34.1Mt
  • Gold production of 208koz
  • Mill throughput at 4.6Mt (above nameplate capacity)
  • 92% spatial compliance2 to plan
    Delivery of Salares Norte project:
  • Feasibility study (FS) peer reviewed by March 2019
  • Detailed engineering work at 55%
  • Complete district exploration with 12.9km drilled
  • Environmental approval to be achieved by June 2020
  • FS completed and presented to the Board in February 2019
  • Detailed engineering work at 58%
  • District exploration drilling of 15.5km
  • Environmental approval received in December 2019
  • Improve impact of I&T
  • Complete 2019 I&T programmes in accordance with the regional strategies with clear business cases
  Key achievements:
  • Telecommunications infrastructure at South Deep, Agnew, Granny Smith and St Ives to facilitate digital mining progressed
  • Personnel and mobile equipment tracking systems implemented in one corridor at South Deep
  • Automatic ventilation systems installed at Agnew
  • High-precision blast hole drilling commenced at Tarkwa and St Ives
  • Semi-autonomous loading expanded at Granny Smith and trialled at South Deep
5% Improve governance, compliance and risk by ensuring that there are no material deviations from 2019 compliance guidelines.  
  • No material deviations
10% Develop leadership competency framework aligned with strategic objectives and values to improve people capacity and culture  
  • Leadership competency framework updated and adopted
10% Apply 360o "Living the Values" assessment in our performance assessment tool  
  • The 360o assessment of the CEO was completed by the Chairperson and Exco
100% 3.8/5

1 Compliance to plan means adherence to key operational targets such as costs, drilling advancement, ground support and backfill production

2 Spatial compliance requires adherence to the approved mining plan and sequence in which we mine