Where we operate

Gold Fields has nine operating mines in Australia, South Africa, Ghana (including the Asanko joint venture (JV)) and Peru and one project in Chile. We have total attributable annual gold-equivalent production of 2.40Moz, Proved and Probable gold Mineral Reserves of 46.1Moz, Measured and Indicated Mineral Resources of 31.1Moz (excluding Mineral Reserves) and Inferred Mineral Resources of 11.2Moz (excluding Mineral Reserves). Our shares are listed on the Johannesburg Stock Exchange (JSE) and our American depositary shares trade on the New York Stock Exchange (NYSE).

(Hover over the flags on the map)

Ghana region

3 mines

Asanko JV

South Africa region

1 mine

South Deep

Australia region

4 mines

Granny Smith
Gruyere JV
St Ives

Chile region

1 project

Salares Norte

Peru region

1 mine

Cerro Corona

The Group at a glance

2022 2021
Fatal incidents 1 1
Serious injuries 5 9
Total recordable injury frequency rate (TRIFR) 2.04 2.16
Employees 6,364 5,957
Contractors 16,720 16,153
Attributable production (koz) 2,399 2,340
All-in costs (AIC) (US$/eq-oz) 1,320 1,297
Adjusted free cash-flow (US$m)1 431 463
Gold Mineral Resources (Moz)2 42.30 44.10
Gold Mineral Reserves (Moz)3 46.10 47.40
Carbon emissions (kt CO2e) 2,279 2,256
Gender diversity (% of total) 23 22

2022 Performance

AUSTRALIA Australia icon

  Mines: St Ives, Granny Smith, Agnew and Gruyere (50/50 JV) (open-pit and underground mines)    
  Safety (TRIFR) 5.80  
  Fatality 1  
  Employees 1,866  
  Contractors 1,881  
  Attributable production (koz) 1,061  
  AIC (US$/oz) 1,150  
  Adjusted free cash-flow (US$m)4 431  
  Gold Mineral Resources (Moz)2 8.71  
  Gold Mineral Reserves (Moz)3 7.97  
  Carbon emissions (kt CO2e) 819  
  Gender diversity (% of total) 22  

For more information refer to Production and cost performance

SOUTH AFRICA South Africa icon

  Mine: South Deep (underground mine)
  Safety (TRIFR) 3.27  
  Employees 2,495  
  Contractors 2,385  
  Attributable production (koz) 316  
  AIC (US$/oz) 1,356  
  Adjusted free cash-flow (US$m)4 129  
  Gold Mineral Resources (Moz)2 26.19  
  Gold Mineral Reserves (Moz)3 28.68  
  Carbon emissions (kt CO2e) 553  
  Gender diversity (% of total) 27  

For more information refer to Production and cost performance

GHANA West Africa icon

  Mines: Tarkwa, Damang and Asanko (50/50 JV) in Ghana (open-pit mines)
  Safety (TRIFR)5 0.20  
  Employees 1,054  
  Contractors 5,981  
  Attributable production (koz)5 762  
  AIC (US$/oz)5 1,220  
  Adjusted free cash-flow (US$m)4,6 219  
  Gold Mineral Resources (Moz)2 6.39  
  Gold Mineral Reserves (Moz)3 5.16  
  Carbon emissions (kt CO2e) 801  
  Gender diversity (% of total) 11  

For more information refer to Production and cost performance

AMERICAS America iconsAmerica icons

  Mine: Cerro Corona in Peru – copper, gold (open-pit mine)
  Project: Salares Norte in Chile – gold, silver deposit
  Safety (TRIFR) (Cerro Corona) 0.29  
  Employees 828  
  Contractors 6,531  
  Attributable gold-eq production (koz) 259  
  AIC (US$/eq-oz) 998  
  Adjusted free cash-flow (US$m)4 76  
  Gold Mineral Resources (Moz)2 0.91  
  Gold Mineral Reserves (Moz)3 4.33  
  Carbon emissions (kt CO2e) 106  
  Gender diversity (% of total) 26  

For more information refer to Production and cost performance

1 Cash-flow from operating activities less net capital expenditure, environmental payments, lease payment and redemption of Asanko preference shares
2 Attributable, Measured, Indicated and Inferred Gold Mineral Resources (excluding Mineral Reserves), excluding Asanko
3 Attributable Proved and Probable Gold Mineral Reserves, excluding Asanko
4 Cash-flow from operating activities less net capital expenditure, environmental payments and lease payment from the eight mining operations
5 Excludes 45% of Asanko
6 Includes 45% of Asanko

Our business model


(The resources we rely on)

Resource constraints

Our employees and contractors drive our strategy through their skills, expertise and commitment to entrenching our culture.

  • 6,364 employees (2021: 5,957)
  • 16,720 contractors (2021: 16,153)
  • US$9.0m spent on training and development (2021: US$8.3m)
  • Attracting, developing and retaining top skills in a highly competitive environment
  • Sourcing and developing the right skills from our host communities
  • Increasing workforce diversity and inclusivity
  • Maintaining a strong health and safety culture
  • Inclusion of mental and psychological wellbeing in our definition of zero harm

We rely on access to land to extract gold and copper resources, and on water security and reliable energy supply for our mining and processing activities.

  • 46.1Moz attributable Mineral Reserves (2021: 47.4Moz)
  • 42.3Moz attributable Mineral Resources excluding Mineral Reserves (EMR) (2021: 44.1Moz)
  • 14.1PJ energy consumed (2021: 13.9PJ)
  • 18.3GL water withdrawn (2021: 18.5GL)
  • Mitigating our contribution to and the impact of climate change on our operations and host communities
  • Operating in water-stressed regions
  • Securing a steady power supply and managing the increased cost of energy
  • Replacing depleted Mineral Reserves

The quality of our stakeholder relationships supports the sustainability and licence to operate of our business.

  • US$21m invested in socio-economic development (SED) programmes and projects in our host communities (2021: US$16m)
  • 2,336 stakeholder engagements with our host communities, capital providers and governments (2021: 2,350)
  • 87% of our employees are from our countries of operation and 97% of all goods and services are procured in-country
  • Addressing the trust gap between governments, communities and mining companies
  • Skills constraints in host communities as we seek to source employees from these communities
  • Access to water is shared with neighbouring communities
  • Pressures on companies to address major societal issues
  • Constraints in local government capacity and resources in emerging countries

Banks, shareholders and bondholders provide our financial capital, which enables us to create value across all capitals.

  • US$4,340m total equity (2021: US$4,130m)
  • US$1,069m capital expenditure (excluding Asanko) (2021: US$1,089m)
  • US$431m adjusted free cash-flow generated (2021: US$463m)
  • Managing the impact of market sentiment and geopolitical developments on key cost drivers
  • Investing in our mines to extend their longevity

Our investment in machinery, equipment, technology and ICT infrastructure enable us to deliver our products.

  • Nine operating mines (including our Asanko JV) and one project
  • US$656m sustaining capital and US$413m growth capital (2021: US$576m; US$513m)
  • Maintaining and monitoring ageing infrastructure at our older mines
  • Modernising and digitising our mines while reducing costs
  • Ensuring our people are equipped to work in an increasingly automated and digitised work environment

Our people and partners' intellectual input informs our strategic objectives, drives innovation and efficiencies and supports risk management.

  • US$1,411 per employee invested in training (2021: US$1,397)
  • Modernisation plan stretching over three horizons
  • Group-wide job architecture detailing knowledge, skills, qualifications, behavioural and technical competencies required for all roles
  • Developing the right talent to meet the needs of an increasingly mechanised, modernising and automated mining industry
  • Reskilling the existing workforce to ensure we can retain their experience and knowledge
  • Review of culture to strengthen workforce diversity and inclusivity



(How we create value)

Our diversified portfolio (with nine mines and one project in five countries) creates value through:


Our near-mine and selected greenfields exploration, in partnership with junior miners, focuses on resource extension to enhance the long-term sustainability of our portfolio


We invest in the development of projects that, once brought to fruition, will improve the cost and production profile of our portfolio


We extract gold and copper-bearing ore from open-pit and underground mines through mechanised processes in Australia, South Africa, Ghana and Peru – either by our own teams or by contractors


We generate additional value through the physical and chemical processing of ore, which results in semi-pure gold doré and copper-gold concentrate. The doré is externally refined into gold bullion


We seek to responsibly manage mine closure and optimise our closure liabilities through integrated closure planning and progressive rehabilitation. Post-closure social and economic sustainability requires consultation with and investment in impacted communities during the life-of-mine


(What we produce)


attributable gold-equivalent production (2021: 2.34Moz)


attributable copper production(2021: 25.9kt)


(The value we create, preserve or erode)

Maximise the potential from our current assets through people and innovation

Continued investment in South Deep, South Africa’s largest bulk, mechanised, underground gold mine
Increased use of real-time data to enable decisions that facilitate safer and more productive mines
Increased use of remote mining that takes people away from potentially dangerous operations
US$468m paid in salaries and benefits
One fatal incident
Two new cases of Silicosis submitted to health authorities
Five serious injuries
23% of our total workforce are women, including women in leadership (2021: 22%)
US$855m in adjusted free cash-flow from operations
US$411m paid in interest and dividends
3% rise in AIC, largely due to Salares Norte capex and mining cost inflation
Net debt decreased to US$704m
JSE share price up 1%; NYSE share price down 6%
Received US$300m break fee from Yamana Gold
Total dividend of R7.45/share

Build on our leading commitment to ESG

Zero Level 3 – 5 environmental incidents for the fourth consecutive year
Recycled 75% of water withdrawn and reduced our freshwater intake by 41% against a 2018 baseline
12th successive Top 5 mining ranking in DJSI
Achieved an A- score in the CDP's Water Disclosure Project
Continued membership of Bloomberg Gender-Equality Index
2.3Mt Scope 1 – 3 CO2e emissions
205Mt of total material moved
All mines implemented at least 88% of their progressive rehabilitation plans
92 community grievances (84% resolved during 2022)
South Deep’s and Gruyere’s newly constructed solar plants commissioned
52% of workforce employed from our host communities
31% (or US$748m) of total procurement costs spent with host community enterprises
US$913m in host community value creation
US695m paid to governments in taxes and royalties

Grow the value and quality of our portfolio of assets

US$565m in gross mining closure liabilities
  US$230m spent on Salares Norte project capital
Invested US$107m in near-mine exploration
(including Salares Norte)
Mineral Reserves down 3% post-depletion
South Deep’s successful ramp-up to 328koz
Yamana Gold acquisition terminated
Investment in junior miners to expand greenfields exploration

 Positive outcomes
 Negative outcomes