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Integrated Annual Report 2019
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CORPORATE INFORMATION
PDF REPORTS

Our Business

Governance

CEO Report
and our performance against
material matters

PORTFOLIO MANAGEMENT

OPERATIONAL PERFORMANCE

BALANCE SHEET

OUR EMPLOYEES

THE ENVIRONMENT

OUR COMMUNITIES
AND GOVERNMENT

ASSURANCE

Currently viewing: OPERATIONAL PERFORMANCE / Operational performance | Next: Improving operational performance

Operational performance

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BENEFITS FOR STAKEHOLDERS
AND ADDRESSING THEIR CONCERNS:

A strong operational performance with higher production will lead to improved margins given that the cost of our infrastructure is largely fixed. An improved margin, in turn, benefits shareholders through a higher dividend and a likely rise in the share price. However, it is not only shareholders that benefit; governments usually receive higher taxes and royalties, employees receive better bonuses and salary increases, business partners improve revenues through more work and communities through an upscale in investments in infrastructure and other projects.

HIGHLIGHTS DURING 2019

  • Attributable gold production 2.2Moz: 8% up on 2018 and ahead of 2019 guidance
  • Free cash-flow margin of 21% compared to 16% in both 2017 and 2018
  • US$552m cash generated from our nine mines
  • Group net cash-inflow was US$249m (net outflow in 2018 was US$122m)
  • South Deep – 41% increase in production, 37% decrease in costs and net cash-flow of R221m (US$15m)
  • Gruyere contributes to results for first time, with smooth ramp-up and production of 99,000 oz

CEO – OPERATIONAL PERFORMANCE

SOUTH DEEP – EVP MARTIN PREECE TALKS ABOUT OUR 2019 PERFORMANCE

 

KEY PERFORMANCE METRICS FOR 2019

  • Americas
  • Australia
  • South Africa
  • West Africa

Mines Cerro Corona in Peru – copper, gold – open pit mine

Project Salares Norte in Chile – gold, silver deposit

Safety (TRIFR)
1.26

Workforce

545 employees and 2,862 contractors

Managed production (koz)
293

AIC (US$/eq-oz)
810

Net cash-flow (US$m)1
86

Gold-eq Mineral Resources (Moz)
6.13

Gold-eq Mineral Resources (Moz)
5.03

ADDITIONAL INFORMATION ON OUR AMERICAS REGION'S OPERATIONS

Mines St Ives, Granny Smith, Agnew and Gruyere (50/50 JV) – open pit and underground mines

Safety (TRIFR)
6.50

Workforce

1,657 employees and 1,265 contractors

Managed production (koz)
914

AIC (US$/oz)
986

Net cash-flow (US$m)1
206

Gold-eq Mineral Resources (Moz)
18.54

Gold-eq Mineral Resources (Moz)
6.93

ADDITIONAL INFORMATION ON OUR AUSTRALIA REGION'S OPERATIONS

Mines South Deep – underground mine

Safety (TRIFR) (one fatality)
3.12

Workforce

2,310 employees and 1,674 contractors

Managed production (koz)
222

AIC (US$/oz)
1,259

Net cash-flow (US$m)1
15

Gold-eq Mineral Resources (Moz)
60.13

Gold-eq Mineral Resources (Moz)
32.82

ADDITIONAL INFORMATION ON SOUTH AFRICA REGION'S OPERATIONS

Mines Tarkwa, Damang and Asanko Gold (50/50 JV) in Ghana – open pit mines

Safety (TRIFR)2
0.57

Workforce2

1,046 employees and 6,198 contractors

Managed production (koz)3
840

AIC (US$/oz)3
1,039

Net cash-flow (US$m)1,2
245

Gold-eq Mineral Resources (Moz)4
18.76

Gold-eq Mineral Resources (Moz)4
8.43

ADDITIONAL INFORMATION ON WEST AFRICA REGION'S OPERATIONS
1 Net cash-flow from operating activities less net capital expenditure, environmental payments, lease payment and redemption of Asanko preference shares. For 2019 Gold Fields Group net cash-flow excludes Gruyere project capital expenditure of US$67m and Damang project capital expenditure of US$71m.
2 Excludes 45% of Asanko Gold.
3 Includes 45% of Asanko Gold.
4 Includes 50% of Asanko Gold.
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