Value creation for our stakeholders
The sustainability of our operations depends on mutually beneficial relationships with our key stakeholders. We therefore focus on constructive, transparent and open engagement which, we believe, will create enduring value for our stakeholders and the Company.
Total and national value distribution by region and type 2020 (US$m)
| Employees | SED spend1 | Capital providers | Business partners | Governments | National value distribution | |||||||
| Australia | 145 | 1 | 7 | 716 | 143 | 1,013 | ||||||
| Americas | 42 | 3 | 4 | 167 | 58 | 273 | ||||||
| South Africa | 86 | 32 | 2 | 190 | 23 | 283 | ||||||
| West Africa | 80 | 10 | 12 | 615 | 171 | 887 | ||||||
| Corporate | 60 | 0 | 229 | 98 | 7 | 394 | ||||||
| Total Gold Fields | 4124 | 17 | 253 | 1,786 | 381 | 2,849 |
| 1 | Socio-economic development spend in host communities |
| 2 | This includes US$1m from the South Deep trusts |
| 3 | South Deep does not yet pay income tax as it is in a loss-making position |
| 4 | This excludes benefits paid to employees working on capital projects |
Employees
VALUE DISTRIBUTION PER REGION
| Americas | 10% | |
| Australia | 35% | |
| South Africa | 21% | |
| West Africa | 19% | |
| Corporate | 15% |
PAYMENTS INCLUDE
salaries and wages, benefits and bonuses.KEY CONCERNS AND EXPECTATIONS
- Learning and development
- Performance management
- Competitive remuneration and benefits
- Job security amid Covid-19
- An inclusive and enabling culture with opportunities for innovation
- Safe and healthy working environments
- A company that is ethical and sustainable
VALUE CREATED FOR EMPLOYEES IN RESPONSE TO THEIR KEY CONCERNS AND EXPECTATIONS
- Paid competitive salaries with a strong performance-based component
- Optimised business processes and operational efficiencies
- Continued to implement modern working practices to facilitate greater
work-life balance - Cultivated a stringent safety and health culture
 |
For more information, refer to Developing a fit-for-purpose workforce key highlights of the IAR and our Report to Stakeholders. |
HOW WE SUPPORTED OUR EMPLOYEES DURING COVID-19
- Paid all our employees their base salaries
- Provided testing and quarantine facilities
- Enabled office and administrative staff to work from home
- Enabled older employees and those with comorbidities to work from home at all times
- Instituted flexi-time working arrangements
- Reduced international and regional travel
- Implemented standard operating procedures once employees started returning to offices
- Imposed mandatory social distancing, sanitation and mask-wearing practices at our sites and offices
- Established a dedicated Covid-19 information portal
- Offered mental health support programmes
Host Communities
TOTAL COMMUNITY VALUE DISTRIBUTION PER REGION1
| Americas | 5% | |
| Australia | 34% | |
| South Africa | 13% | |
| West Africa | 48% |
| 1 | Value distribution comprises procurement, employee wages and investment in socio-economic development (SED) See also Value creation for stakeholders |
PAYMENTS INCLUDE
procurement, employee wages and investment in SED.Number of engagements in 2020: 658 (2019: 364)
KEY CONCERNS AND EXPECTATIONS
- Employment and procurement opportunities
- Skills and enterprise development
- Environmental rehabilitation
- Community investment
- Protection of heritage sites
VALUE CREATED FOR EMPLOYEES IN RESPONSE TO THEIR KEY CONCERNS AND EXPECTATIONS
- Roll-out of Shared Value projects and host community initiatives have increased the percentage of value distributed to host communities to 28% of total value created by Gold Fields
- Created jobs and business opportunities through host community procurement
- Unlocked opportunities for host community employment in the mines, their contractors and suppliers, their suppliers, and non-mining sectors
- Invested in integrated community development, including health and wellbeing, environment and infrastructure
- Expanded skills base in host community by unlocking education and training opportunities
|
For more information, refer to Value creation for stakeholders of the IAR and our Report to Stakeholders. |
HOW WE SUPPORTED OUR EMPLOYEES DURING COVID-19
- Donated to government and industry response funds
- Donated medical equipment to local hospitals and clinics
- Distributed personal protective equipment to host communities
- Distributed food to vulnerable people
- Donated sanitising materials and equipment to local government to curb the spread of Covid-19
- Launched radio and television campaigns to raise awareness and dispel myths around the virus
Capital providers
VALUE DISTRIBUTION PER REGION
| Americas | 1% | |
| Australia | 3% | |
| South Africa | 1% | |
| West Africa | 5% | |
| Corporate | 90% |
PAYMENTS INCLUDE
interest and dividend payments.Reduced net debt by
Number of engagements in 2020: 658 (2019: 364)
KEY CONCERNS AND EXPECTATIONS
- Sustainable returns on investment
- A strong balance sheet
- Execution of Gold Fields' strategy
- Sound and ethical leadership
- Succession planning for executive management
VALUE CREATED FOR EMPLOYEES IN RESPONSE TO THEIR KEY CONCERNS AND EXPECTATIONS
- Developed and maintained a strong portfolio of mines
- Damang Reinvestment project and Gruyere provide solid returns
- Identified and appointed new CEO
- Continued to fund the development, maintenance and growth of our operations
- Improved share price and increased dividends
- Reduced net debt and maintained strong balance sheet
|
For more information, refer to Capital allocation and sound balance sheet management of the IAR and our Report to Stakeholders. |
HOW WE SUPPORTED OUR EMPLOYEES DURING COVID-19
- Limited the impact of the pandemic on our operational performance
Business partners (contractors and suppliers)
VALUE DISTRIBUTION PER REGION
| Americas | 9% | |
| Australia | 40% | |
| South Africa | 11% | |
| West Africa | 34% | |
| Corporate | 6% |
PAYMENTS INCLUDE
operations and capital procurement.KEY CONCERNS AND EXPECTATIONS
- In-country and host community procurement of goods and services
- Investment in enterprise and supplier development
- Sustainable materials and supply chain stewardship
- Sustainable and value-driven relationships
VALUE CREATED FOR EMPLOYEES IN RESPONSE TO THEIR KEY CONCERNS AND EXPECTATIONS
- 96% of total procurement spend is from in-country businesses
- US$536m of total procurement spend by our mines - 29% of total - was spent on suppliers and contractors from our host communities
- Included all business partners in our health and safety management systems
- Provided suppliers in Australia with a toolkit on the Modern Slavery Act 2018
|
For more information, refer to Value creation for stakeholders of the IAR and our Report to Stakeholders. |
HOW WE SUPPORTED OUR EMPLOYEES DURING COVID-19
- Provided contractor employees with access to our testing and quarantine facilities
- Imposed mandatory social distancing, sanitation and mask-wearing practices at our sites and offices
- Included them in our communication campaigns around Covid-19 programmes
- Paid small, medium and micro-enterprise (SMMEs) providers and contractors during South Deep's closure and salaries to mineworkers during the national lockdown (in South Africa)
- Committed to paying SMMEs within 30 days of delivery of goods and/or services (in South Africa)
Governments
VALUE DISTRIBUTION PER REGION
| Americas | 15% | |
| Australia | 37% | |
| South Africa | 1% | |
| West Africa | 45% | |
| Corporate | 2% |
PAYMENTS INCLUDE
mining royalties and land-use payments, taxes, duties and levies.Number of engagements in 2020: 1,011 (2019: 899)
KEY CONCERNS AND EXPECTATIONS
- Adherence to relevant legislation
- Compliance with safety, health and environmental regulations
- Protection of and respect for human rights
- Payment of taxes and other levies
- In-country employment and procurement
- Investments in SED projects in host communities
VALUE CREATED FOR EMPLOYEES IN RESPONSE TO THEIR KEY CONCERNS AND EXPECTATIONS
- Over 96% of procurement is sourced from companies within the countries of operation
- Over 86% of employees are nationals of the countries of operation
- Paid royalties and taxes to host governments that, if utilised appropriately, can enable them to develop critical infrastructure
- Invested in SED projects that also grow and sustain non-mining jobs
|
For more information, refer to Value creation for stakeholders of the IAR and our Report to Stakeholders. |
HOW WE SUPPORTED OUR EMPLOYEES DURING COVID-19
- Adhered to all government regulations and protocols
- Donated to government or industry response funds
- Donated medical equipment to government run hospitals and clinics
- Engaged directly with host governments to raise awareness within host communities
- Assisted local government efforts such as street sanitation