Currently viewing: Environmental stewardship | Next: Our performance

Environmental stewardship

Environmental stewardship forms a significant part of our sustainability efforts. As a cornerstone of the Group's strategy, we strive to integrate climate and environment-related risks and opportunities into our strategy and operations. We aim to ensure our communities and stakeholders recognise and trust us for purpose-led social impact and nature-based solutions that aims to enhance lives. Our strategies, targets and implementation plans are designed to ensure we extract natural resources in a way that is environmentally responsible and sound, and considers the needs of our stakeholders – particularly those communities impacted by our operations.

Gold Fields set 2030 targets for three environmental priority areas: decarbonisation, tailings management and water stewardship. We detail these targets, along with our 2024 performance, in this section, as well as our 2024 Climate Change and Environmental Report. We have initiated a mid-point review against these 2030 targets, which will be concluded in 2025. Apart from a status update and an assessment of underlining assumptions, like relevant technologies and other context drivers, the mid-point review will address any gaps to close the 2030 targets and consider the impact of portfolio growth and technology readiness.

All our operations are certified to the international ISO 14001:2015 standard, and our environmental management systems provide a structured framework to effectively and efficiently manage our environmental risks and opportunities while driving continuous improvement and ensuring legal and other compliance. As at 31 December 2024, all Gold Fields operations that use cyanide were fully certified to the ICMC. Subsequent to year-end, St Ives' certification was reduced to substantial certification. The operation is implementing a corrective action plan due for completion in May 2025.

Sustainable Development Policy

We take guidance from industry best practices and thought leadership, predominantly provided by the ICMM and the WGC. Our commitments are set out in our Sustainable Development Policy statement, summarised below.

Gold Fields sustainable development commitments

Integrate sustainable development principles into the Group's business strategy and operational execution towards a zero harm mindset

Cultivate a respectful, safe, ethical and inclusive working environment

Build a culture of continuous environmental and socio-economic review, analysis, improvement and disclosure, based on the precautionary approach

Maintain good governance and compliance

Ensure an ethical, strategic, consistent and Company-wide approach to materials and supply chain stewardship that generates sustainable value

Maintain proactive, transparent and respectful stakeholder engagement

Implement effective enterprise risk management

Ensure we sell gold and copper to responsible buyers and that we do not contribute to unlawful armed conflict

Increase awareness of sustainable development among our employees and stakeholders

Environmental incidents

Gold Fields is committed to sound environmental performance and mitigating the adverse impact of our operations on affected stakeholders and the environment. As such, we consider our environmental impact a stakeholder-related focus area as we seek to deliver nature-positive performance that enhances lives. We have consistently maintained zero Level 3 – 5 incidents since 2018, demonstrating a limited environmental impact by our operations on neighbouring communities.

During the year, 18 localised, minor incidents across the Group were reported (2023: 8), categorised as Level 2 incidents, bringing the total Level 2 – 5 incidents to 18^RA in 2024. The majority of these incidents related to loss of containment. A common thread across many incidents was improved reporting as well as change management, with employee turnover at several operations impacting continuity. All incidents were investigated and closed out. We seek to ensure that all environmental and social risks are identified, assessed and effectively controlled to reduce the number and severity of these incidents.

Group environmental incidents

For more information, refer to the Climate Change and Environment Report.

Nature

Gold Fields operates in diverse ecosystems where our mining activities intersect with natural environments. We aim to responsibly manage our impacts and, as a member of the ICMM, we strive to align with its Position Statement on Nature – which emphasises the need to integrate nature-related considerations into decisionmaking. We recognise that nature-related risks – including biodiversity loss, water scarcity and regulatory changes – can have material financial and operational implications. Similarly, nature-based opportunities – including ecosystem restoration like our chinchilla capture and relocation project and responsible land use – can enhance our long-term resilience and value to stakeholders while also positively impacting our reputation.

The realms of Nature

Nature comprises the interconnected realms of land (terrestrial ecosystems, soils and forests); ocean; freshwater (rivers, wetlands and other groundwater systems, regulating and ensuring water availability, water quality and ecosystem integrity); and atmosphere (climate patterns, air quality and weather systems).

Gold Fields primarily impacts three of these four realms. We manage our impacts on terrestrial ecosystems through progressive rehabilitation and biodiversity conservation towards restored ecological functions. The bulk of Gold Fields' Scope 1 and 2 carbon footprint is energy-related and, accordingly, our Decarbonisation Strategy and roadmap – which include energy efficiency programmes, renewable electricity projects and Scope 3 emissions supplier engagements – form an integral part of our energy and carbon management.

We depend on water sources from our exploration phase to rehabilitation and closure. Our Group Water Stewardship Strategy and asset tactical plans consider critical aspects – including water availability and quality, the use of water by all stakeholders, as well as nature – in the catchments Where we operate.

Nature baseline risk assessment

We updated the internal nature baseline risk assessments during 2024 to identify the respective nature-related risks for each operation. These assessments consider aspects like biodiversity importance, ecosystem integrity, invasive and pest species, and water. These assessments will be further refined in 2025 and relevant management practices, opportunities and further studies will be undertaken as part of our sustainable development and environment commitments.

Chinchilla capture and relocation project at Salares Norte

We made significant progress in the conservation of the endangered short-tailed chinchilla at our Salares Norte mine in Chile. Following the expiry of the regulatory halt of the capture and relocation programme at Rockery 3, we successfully captured and relocated one chinchilla to a designated conservation area a few kilometres from the mining site during October 2024. No further chinchillas were identified in Rockery 3, which was subsequently dismantled in compliance with the provisions of the environmental and agricultural governmental authorities. As at mid-March 2025, three chinchillas have been successfully relocated to a designated conservation area.

The successful relocations follow extensive research and refinements to our approach after initial challenges encountered during 2020, when our relocation efforts were paused to ensure improved animal welfare measures. To enhance the effectiveness of our conservation efforts, we invested in a specialist team of nearly 80 environmental experts and support staff dedicated to identifying, monitoring and safely relocating chinchillas. This includes implementing advanced tracking technology and refined relocation protocols to ensure minimal disruption to the species.

For more information, refer to the Climate Change and Environment Report.

Energy and carbon management

Gold Fields' Scope 1 and 2 emissions are primarily energy-related and, accordingly, energy management is a critical lever to reducing our carbon footprint and meeting our emissions reduction targets. We have a systematic approach to measuring, monitoring and managing our energy consumption and associated greenhouse gas emissions, which is based on the international ISO 50001 energy management standard.

We set emissions abatement targets at a Group level, with specific targets and action set at operational level, either through capital allocation or energy efficiency projects. Identifying and allocating capital, and implementing these initiatives and projects follow a rigorous techno-economic viability approach based on Gold Fields' Capital Allocation Framework, as well as our portfolio view of the abatement costs across all operations. This ensures that we continually improve the Group's economic and operational resilience while reducing our environmental impacts.

	2024	2023	Year-on-year change	Comment
Energy performance
Total energy sconsumption	14.4PJ^RA	14.1PJ	2%	Energy consumption varied slightly across all sites, as per normal operations. Damang’s energy consumption decreased as mining reduced in line with the mine plan, while St Ives’ consumption increased significantly as total tonnes mined increased
Renewable electricity (% of total)	18%	17%	4%	The year-on-year increase was expected as we expanded our renewable energy generation on-site. The Khanyisa solar plant provided 17% of South Deep’s electricity in 2024 (2023: 15%)
Energy intensity	6.39GJ/oz	5.64GJ/oz	13%	Energy intensity was impacted by the 10% decline in production in 2024
Energy savings through initiatives	0.16PJ^RA	1.27PJ	–	Not applicable as methodology changed
Energy savings through initiatives		0.22PJ	(28)%	An improved methodology in 2024 resulted in reduced energy savings being recorded. Based on our 2024 methodology, energy savings for 2023 would have been 0.22PJ. Until 2023, electrical energy generated through renewable plant generation was included under energy savings initiatives; from 2024, only the emissions and cost savings from these sources are accounted for
Energy spend	US$423m	US$405m	4%	Consistent with growth in energy costs and the increase in energy consumption

	2024	2023	Year-on-year change	Baseline year	2030 target	Comment
Carbon performance
Scope 1 and 2 emissions	1,632kt CO₂e^RA	1,632kt COe₂	0%	1,693kt CO₂e 2016)	1,185kt CO2e	We maintained emissions year-on-year as we work towards our 2030 goal amid a higher percentage of renewable energy in our energy mix
Scope 1 and 2 emission intensity	726kg CO₂e/oz	656kg CO₂e/oz	11%	786kg CO₂e/oz (2016)	423kg CO₂e/oz	Consistent with energy intensity changes, largely driven by the 10% decline in production in 2024
Scope 1 and 2 emission reductions (through initiatives)	256kt CO₂e^RA	201kt CO₂e	28%			Driven by increased renewable energy generation and energy efficiency projects
Scope 3 emissions	823kt CO₂e^RA	950kt CO₂e	(13.3)%	980kt CO₂e (2022)	882kt CO₂e	Reductions primarily driven by the sale of Asanko, updated emissions factors in Australia and Ghana, and reduced volumes at Cerro Corona
Amount spent on energy and emissions savings initiatives	US$24m	US$8m	210%			Increased investment in efficiency projects

2024 renewable projects
Mine	Detail	Approved budget	Commission date
Granny Smith	11MW solar farm and 7MW battery expansion	Power purchase agreement (PPA)	Q1 2025
St Ives	35MW solar farm and 42MW wind	A$295m (US$195m)	Q1 2026

Renewable project studies
Mine	Detail
Gruyere	Prefeasibility study for a possible solar farm expansion
Granny Smith	Prefeasibility study for a possible wind farm
South Deep	Wind, solar and battery power scoping study underway. Environmental approval for a 40MW wind farm and an additional 30MW of solar has been granted
Salares Norte	Solar farm of approximately 2MW (study to commence in 2026); waste energy from diesel power plant under review

Energy performance

Decarbonisation Strategy

Gold Fields is committed to achieving net-zero carbon emissions by 2050 in alignment with the Paris Agreement. Our target-driven Decarbonisation Strategy is structured around a framework that prioritises energy resilience and cost-effective reduction in emissions while maintaining operational efficiency and business sustainability. Applying a commercial lens has been critical since Gold Fields formally launched its Decarbonisation Strategy in 2016. We have a portfolio-based view of our decarbonisation efforts, critically assessing where the greatest opportunities lie to enhance operational flexibility and energy security and meet our carbon reduction priorities.

We have systematically integrated renewable energy solutions, process efficiencies and technology-driven abatement strategies to reduce our carbon footprint while maintaining production growth. By 2024, we had achieved a 4% reduction in Scope 1 and 2 emissions against our 2016 baseline, while production increased by 5% over the same period. The reductions are attributed to various renewable energy investments at five of our nine operations, the use of hydroelectricity at Cerro Corona, as well as a range of energy efficiency projects at all our operations. In 2023, we also added a target to reduce our net Scope 3 emissions by 10% against a 2022 baseline, and we continue to engage with our key suppliers as we work towards this target.

Looking ahead, our Decarbonisation Strategy will focus on four key pillars to achieve our 2030 targets:

Renewable energy expansion: Gold Fields will continue integrating renewable energy sources across its operations. We are implementing solar, wind and hybrid energy solutions based on operation-specific technical and financial evaluations, ensuring grid stability and optimised returns
Electrification of material movement and operations: : As part of the Group's emissions reduction efforts, we will focus on transitioning from diesel-powered equipment to electrified alternatives
Energy efficiency and process optimisation: We continue implementing process efficiency improvements to reduce overall energy intensity
Decarbonisation technologies: Gold Fields undertook a structured review of emerging decarbonisation technologies to assess their maturity, scalability and emissions reduction potential per operation

Energy costs and energy savings

The infographic below indicates how Gold Fields plans to reduce its Scope 1 and 2 carbon emissions by a net 30%, from 1,693kt CO₂e in 2016 (our baseline year) to 1,185kt CO₂e by 2030. Assuming further gold production growth by 2030, the emissions reduction required may well be an absolute 50% over that period.

Approximately 50% of targeted emissions reductions by 2030 are expected to come from renewable energy, with the remainder achieved through electrification, efficiency enhancements and transitionary abatement measures. Two renewable projects, included below, will play a particularly important role in helping us reach our 2030 Group decarbonisation goals, while also providing significant cost and energy supply security.

At St Ives, we are constructing our largest renewable energy project to date, with an investment of A$295m (US$195m), comprising a 42MW wind farm and a 35MW solar plant. The renewable system is expected to provide 73% of St Ives' electricity and will reduce the mine's Scope 1 and 2 carbon emissions by about 50% by 2030.

During 2024, the 50MW Khanyisa solar plant at South Deep, commissioned in 2023 for R715m (US$46m), provided 17% of South Deep's electricity, as well as R350m (US$19m) in cost savings since commissioning when compared to the tariffs charged by the state utility and saved 178kt CO₂e in Scope 1 and 2 emissions. As we consider further investments in renewables at South Deep – via wind turbines or an expansion of our solar plant – these benefits will be even more pronounced over the 70-year LOM.

Additional renewables deployment at other mines and the ongoing focus on energy efficiency will account for the bulk of the emission reductions achieved by 2030. The source of the remaining contributions will be determined through the ongoing mid-point review, expected to be a combination of further renewables, energy efficiency and electrified (instead of fossil fuel powered) materials movement technologies.

2030 decarbonisation trajectory (kt CO₂e)

Water stewardship

Gold Fields prioritises water stewardship as a key component of the Group's strategic pillars as we recognise the critical role water plays in our mining and ore processing activities, the communities in which we operate and the wider ecosystems. As an indispensable shared resource and fundamental human right, we appreciate the inherently multi-dimensional value water holds for people and nature. We develop and implement our operation-based water stewardship strategies and three-year water tactical plans based on the individual context of our sites. This is especially important as three of the four countries in which we operate are classified as water-stressed. Furthermore, we are building on our ever-increasing knowledge base and lessons learned to continuously refine our comprehensive climate change-related risk management processes in our operations.

Water Stewardship Strategy

Our Group 2030 Water Stewardship Strategy is rooted in our commitments as set out in the Group Water Stewardship Policy Statement. These are categorised into four pillars: climate adaptation and preparedness, water efficiency, protecting water quality, and catchment management – the latter recognising that, in many jurisdictions, our operations share the water they use with communities.

Our two 2030 Group water targets drive our performance towards greater water efficiency, as set out below. The risk-informed asset water stewardship strategies of each operation are founded on the four pillars, supported by three-year tactical plans.

During 2024, Gold Fields spent US$72.4m (2023: US$46.6m) on water stewardship and projects, including upgrading old return water dams and commissioning a reverse osmosis plant at South Deep and introducing tailings filters at Salares Norte.

Total water withdrawal1 across the Group amounted to 18.1GL^RA in 2024 (2023: 18.3GL), while water withdrawal per tonne processed was 403L/t^RA(2023: 406L/t). The Group's 2024 water consumption² was 14.5GL^RA (2023: 13.8GL).

Performance against targets

2030 target	2024 target	2024 performance
Reduce freshwater withdrawal³ by 45% from 2018 baseline	Reduce freshwater withdrawal by 19% from 2018 baseline	Total freshwater withdrawal for 2024 amounted to 11.1GL^RA – a 23% reduction from our 2018 baseline. We adjusted our freshwater target during the year to include Granny Smith in the Group freshwater calculation, necessitated by a heavy rainfall event which improved Granny Smith’s water quality to “fresh”. We achieved the adjusted target. Our 2030 target remains unchanged.
Recycle/reuse⁴ 80% of total water used	Recycle/reuse 75% of total water use	74%^RA of total water used by the Group was recycled or reused, falling slightly short of our 2024 target, mainly due to challenges experienced at South Deep and Tarkwa. Tarkwa recorded low rainfall during Q1 2024, reducing the size of the TSF ponds and, consequently, the volume of process water available for recycling or reuse. A delay in completing the upgrade to South Deep’s Old Return Water Dam reduced storage capacity for process water. Dry weather further reduced the ability for recycling and reuse.

Water recycled/reused

Freshwater withdrawal

Group total water withdrawal and intensity

¹	Water withdrawal is the sum of all water drawn into Gold Fields' operations from all sources (including surface water, groundwater, rainwater, or water from other organisations, state or municipal providers) for any use at the mine
²	Water consumption is total water withdrawal less discharge
³	Freshwater withdrawal is water with low concentrations of dissolved salts and other dissolved solids
⁴	Recycled water is water or wastewater that is treated before being reused, while reused water is water or wastewater that is reused without treatment at the same operation

Integrated mine closure

Mine closure is a critical part of responsible mining, aiming to ensure a positive and sustainable legacy once extraction ceases. We integrate mine closure planning throughout the lifecycle of our assets, aligning with international best practices like IFRS (IAS 37) and the ICMM's Integrated Mine Closure: Good Practice Guide, as well as stakeholder interests.

Our approach prioritises progressive rehabilitation and restoring disturbed land during active mining to minimise environmental and socio-economic impacts and enhance asset value. Compliance forms a fundamental part of Gold Fields' closure governance. Our closure governance universe includes Gold Fields' policies and guidance, and national and other legislative and regulatory requirements.

Progressive rehabilitation performance

We continually revise and update our progressive closure plans, which incorporate material aspects, including socio-economic, technical and environmental designs, remediation and landform reshaping. These plans are refined by the outcomes of our stakeholder engagements, including consultations with the relevant authorities. We set a Group target of 85% rehabilitation performance against our progressive closure plans. During 2024, we achieved a Group average of 88% implementation against the plans, while all operations had their closure plans fully approved by relevant regulators.

2024 Group closure cost estimate

The 2024 closure cost estimate (CCE) are the funds to be provided as at financial year-end to cover the cost of closure and rehabilitation of our operations. The Group's CCE is calculated in compliance with legislative and financial reporting requirements and is independently assured by technical and financial auditors.

Following the annual review of the CCE, our consolidated environmental liability for 2024 was increased by 6% to US$641m (2023: US$598m). This was driven primarily by increased liability requirements for Tarkwa and Cerro Corona. Tarkwa conducted a detailed study, which resulted in a CCE increase of US$11m. Since Cerro Corona is approaching closure, alignment with feasibility study standards necessitated a CCE increase of US$25m during the year.

Gold Fields pivoted to a proactive mine closure funding approach during 2022, through which we supplement the legislated funding amounts on a country basis. The supplementary funding builds on the existing bank guarantees and other security agreements to ensure adequate cover for any potential unplanned closures and country-specific legislative and regulatory requirements. The countries have made additional provisions for mine closure totalling US$37m in 2024.

The breakdown per operation is provided in the table below.

Mine	2024 progressive rehabilitation completion against plan (%)	2024 CCE (US$m)	2023 CCE (US$m)
Gruyere	92	25	26
Granny Smith	92	61	61
St Ives	85	104	103
Agnew	87	39	41
South Deep	81	43	43
Damang	94	27	25
Tarkwa	81	93	82
Salares Norte	–	48	47
Cerro Corona	90	194	169
Windfall¹	–	7	–
TOTAL		641	598

¹	Windfall Mining's operations are being integrated into Gold Fields' existing control environment. As permitted under SEC guidance for recently acquired businesses, management excluded Windfall Mining from its assessment of internal control over financial reporting

Tailings storage facility management

Tailings governance

Gold Fields' tailings governance, coupled with robust risk management processes, provides the basis on which we conduct our integrated tailings stewardship, including the planning, design, construction, operation, closure and rehabilitation of our TSFs. The effective management of our TSFs over the full lifecycle is informed by leading industry-specific risk management principles and guided by sites-pecific plans.

During 2024, we further strengthened our tailings governance by appointing an independent consultancy to conduct operational and governance reviews of the Group's 37 TSFs every three years. The mandate included an operational audit and governance review of all TSFs owned, operated and managed. The audit included a review and gap analysis against the Group's new Tailings Management Standard. We are pleased that no dam safety concerns were identified during the review. The operational gaps identified in the review are being addressed.

Progress against 2030 targets

We are well on track to meet both our 2030 targets. The first target is to reduce the number of active upstream-raised TSFs from five to three. During 2024, we reduced our active upstream-raised facilities from five to four with the completion of the transition of Tarkwa's TSF 2 from an upstream-raised facility to a downstream-raised facility. Tarkwa's TSF 1 is being transitioned from an upstream to a downstream facility, with expected completion by end-2025.

The second target is conformance with the GISTM. Gold Fields met the requirements of our ICMM commitment requiring all high-priority TSFs to conform with the GISTM by August 2023. The results for both Tarkwa and Cerro Corona were disclosed in August 2023 and are available on our website here. The self-assessments and concomitant results for the remaining non-priority facilities are progressing according to plan and will be disclosed within the prescribed timeline of August 2025. We have contracted ERM, a third-party independent consultancy, to verify the internal self-assessment outcomes.

Key initiatives

Gold Fields, a member of the GeoStable Tailings Consortium, is conducting a commingling trial at Tarkwa. This involves assessing the feasibility of commingling two core materials, tailings and waste rock, to a specified mix design ratio and depositing them into a single repository. The aim is to blend the tailings and waste rock to produce an engineered material with superior physical and geochemical properties for the construction of mining landforms
Gold Fields commissioned its first filtered stack TSF in the Group at its Salares Norte project in Chile in Q2 2024. The base of the tailings deposit is underlain with a geomembrane. The tailings from this TSF carry only a very limited amount of water, critical in a region where the supply of water is very limited