We continue to improve the quality of our portfolio by adding low-cost, long-life assets that will enable us to create value sustainably, through the cycles. Simultaneously, we are investing in our existing operations to ensure their continued sustainability, productivity and longevity.
We have undertaken a reasonable assurance engagement in respect of the selected sustainability information, as described below, and presented in the 2024 Integrated Annual Report of Gold Fields Limited (the 'Company', "Gold Fields" or "you") for the year ended 31 December 2024 (the Report). This engagement was conducted by a multidisciplinary team including specialists with relevant experience in sustainability reporting.
We have been engaged to provide a reasonable assurance opinion in our report on the following selected sustainability information, marked with a 'RA' on the relevant pages in the Report. The selected sustainability information described below have been prepared in accordance with the Company's reporting criteria that accompanies the sustainability information on the relevant pages of the Report (the accompanying Company reporting criteria).
| Number | Selected sustainability information | Unit of measurement | Boundary | Page reference |
| 1 | Total CO2-equivalent emissions, Scope 1 – 2 | ktCO2e | Gold Fields Group | 9, 59 |
| 2 | Total CO2-equivalent emissions, Scope 3 | ktCO2e | Gold Fields Group | 21, 59 |
| 3 | Energy consumption | PJ | Gold Fields Group | 8, 59, 60 |
| 4 | Total CO2-equivalent emissions avoided from initiatives | ktCO2e | Gold Fields Group | 59 |
| 5 | Total energy saved from initiatives | PJ | Gold Fields Group | 59 |
| 6 | Reduction of absolute Scope 1 and 2 carbon emissions (carbon abatement) through renewable projects | ktCO2e | Gold Fields Group | 68 |
| 7 | Number of environmental incidents – Level 2 and serious incidents (Level 3 – 5) | Number of incidents | Gold Fields Group | 57 |
| 8 | Total water withdrawal | GL | Gold Fields Group | 8, 62 |
| 9 | Total water withdrawal per tonnes processed | L/tonne | Gold Fields Group | 62 |
| 10 | Freshwater withdrawal | GL | Gold Fields Group | 62 |
| 11 | Percentage of water recycled or reused | Percentage | Gold Fields Group | 9, 21, 62, 68 |
| 12 | Total water consumed (withdrawal – discharge) | GL | Gold Fields Group | 62 |
| 13 | Number of cases of Silicosis reported | Number of cases | Gold Fields Group | 9, 42 |
| 14 | Number of cases of Noise Induced Hearing Loss reported (NIHL) | Number of cases | Gold Fields Group | 42 |
| 15 | Number of cases of Malaria tested positive per annum (Ghana only) | Number of positive cases | West Africa | 42 |
| 16 | Number of South African and West African (Ghana) employees in the HAART programme (cumulative) | Number of employees | South Africa and West Africa | 42 |
| 17 | Percentage of South African and West African (Ghana) workforce on the voluntary counselling and testing (VCT) programme | Percentage of workforce | South Africa and West Africa | 42 |
| 18 | Total recordable injury frequency rate (TRIFR): Employees, Contractors, Total | Rate | Gold Fields Group | 39 |
| 19 | Serious injuries | Number of serious injuries | Gold Fields Group | 7, 9, 39 |
| 20 | Lost time injury frequency rate (LTIFR): Employees, Contractors, Total | Rate | Gold Fields Group | 39 |
| 21 | Near miss incidents | Number of near miss incidents | Gold Fields Group | 39 |
| 22 | Total socio-economic development (SED) spend | USD | Gold Fields Group | 8, 24, 25, 46, 49 |
| 23 | Host community workforce (number) | Number (employees + contractors) | Gold Fields Group | 48 |
| 24 | Percentage of host community workforce employment of total workforce | Percentage | Gold Fields Group | 9, 21, 38, 48 |
| 25 | Percentage of women employee representation as of 31 December 2024 | Percentage | Gold Fields Group | 7, 9, 21, 38, 44, 68 |
| 26 | Host community procurement spend (USD) and percentage of host community procurement spend (of total procurement spend) | USD, percentage | Gold Fields Group | 9, 46, 48 |
| 27 | Group Host Community Value Creation and Host Community Value Creation as a % of total value creation | USD, percentage | Gold Fields Group | 8, 21, 25, 46, 47 |
| 28 | Total value created and distributed (by country, stakeholder and total) | USD | Gold Fields Group | 8, 9, 21, 24, 26, 47, 52 |
| 29 | Whether Gold Fields’ assertions relating to the ICMM Subject Matters (Subject Matters 1 – 5) are fairly presented in the Report, in all material respects, in accordance with the reporting criteria | Qualitative | Gold Fields Group | 3 |
| 30 | Revolving Credit Facility (RCF) Requirement. Whether Gold Fields assertions relating to independent verification are fairly presented in the Report, in all material respects, in accordance with the reporting criteria. | Qualitative | Gold Fields Group | 68 |
| Selected sustainability information | Unit | Boundary | Page reference |
| Employment equity | |||
| HDSAs in management (in proportion to applicable demographics) made up of: | |||
| Board: 50% black persons with exercisable voting rights, of which 20% must be black women | Board: Percentage black persons | South Deep | 55 |
| Board: Percentage black women | South Deep | 55 | |
| Executive/top management: 50% black persons of which 15% must be black women | Exec: Percentage black persons | South Deep | 55 |
| Exec: Percentage black women | South Deep | 55 | |
| Senior: 50% black persons of which 15% must be black women | Senior: Percentage black persons | South Deep | 55 |
| Senior: Percentage black women | South Deep | 55 | |
| Middle: 60% black persons of which 20% must be black women | Middle: Percentage black persons | South Deep | 55 |
| Middle: Percentage black women | South Deep | 55 | |
| Junior: 70% black persons of which 25% must be black women | Junior: Percentage black persons | South Deep | 56 |
| Junior: Percentage black women | South Deep | 56 | |
| Employees with disabilities: 1.5% as a percentage of all employees | Disabilities: Percentage | South Deep | 56 |
| Core/critical skills: 50% black persons | Core skills: Percentage | South Deep | 56 |
| Inclusive procurement | Unit | Boundary | Page reference |
| Mining goods | |||
| 70% of procurement spend on goods (excluding non-discretionary spend) must be on South African manufactured goods, proportioned as follows regarding the manufacturing: | |||
| 21% by HDPs owned and controlled company | Percentage procured from HDPs owned and controlled company | South Deep | 55 |
| 5% by women OR by young owned and controlled company | Percentage women OR by young owned and controlled company | South Deep | 55 |
| 44% by BEE compliant company | Percentage procured from BEE-compliant company | South Deep | 55 |
| Mining services | |||
| 80% of procurement spend on services (excluding non-discretionary spend) must be sourced from South African companies, proportioned as follows: | |||
| 50% on HDPs owned and controlled company | Percentage discretionary spend on HDPs owned and controlled company | South Deep | 55 |
| 15% on women owned and controlled company | Percentage discretionary spend on women owned and controlled company | South Deep | 55 |
| 5% on youth owned and controlled company | Percentage discretionary spend on youth | South Deep | 55 |
| 10% on BEE compliant company | Percentage discretionary spend on BEE compliant company | South Deep | 55 |
| Research and Development | |||
| Research and Development budget spent of which 70% must be spent on SA-based R&D entities | R-value of spend | South Deep | 55 |
We refer to this as the "selected sustainability information".
The Executive Vice President: Sustainability, representing management and Gold Fields Limited, is responsible for the selection, preparation and presentation of the selected sustainability information in accordance with the accompanying reporting criteria as set out at https:// www.goldfields.com/sustainability-performance.php (the "Reporting Criteria").
This responsibility includes:
Management is also responsible for determining the appropriateness of the measurement and reporting criteria in view of the intended users of the selected sustainability information and for ensuring that those criteria are publicly available to the Report users.
Non-financial performance information is subject to more inherent limitations than financial information, given the characteristics of the subject matter and the methods used for determining, calculating, sampling and estimating such information. The absence of a significant body of established practices on which to draw allows for the selection of different but acceptable measurement techniques which can result in materially different measurements and can impact comparability. Qualitative interpretations of relevance, materiality and the accuracy of data are subject to individual assumptions and judgements. The precision of different measurement techniques may also vary. Furthermore, the nature and methods used to determine such information, as well as the measurement criteria and the precision thereof, may change over time.
In particular, where the information relies on carbon and other emissions conversion factors derived by independent third parties, or internal laboratory results, our assurance work will not include examination of the derivation of those factors and other third party or laboratory information.
We have complied with the independence and other ethical requirements of the Code of Professional Conduct for Registered Auditors, issued by the Independent Regulatory Board for Auditors' (IRBA Code), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour. The IRBA Code is consistent with the corresponding sections of the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (including International Independence Standards).
The firm applies the International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements, which requires the firm to design, implement and operate a system of quality management, including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.
Our responsibility is to express a reasonable assurance opinion on the selected sustainability information based on the procedures we have performed and the evidence we have obtained. We conducted our assurance engagement in accordance with the International Standard on Assurance Engagements 3000 (Revised), Assurance Engagements other than Audits or Reviews of Historical Financial Information (ISAE 3000 (Revised)), and, in respect of greenhouse gas emissions, International Standard on Assurance Engagements 3410, Assurance Engagements on Greenhouse Gas Statements (ISAE 3410), issued by the International Auditing and Assurance Standards Board. These Standards require that we plan and perform our engagement to obtain reasonable assurance about whether the selected sustainability information are free from material misstatement.
A reasonable assurance engagement in accordance with ISAE 3000 (Revised), and ISAE 3410, involves performing procedures to obtain evidence about the measurement of the selected sustainability information and related disclosures in the Report. The nature, timing and extent of procedures selected depend on the auditor's professional judgement, including the assessment of the risks of material misstatement of the selected sustainability information, whether due to fraud or error.
In making those risk assessments we have considered internal control relevant to the Company's preparation of the selected sustainability information. A reasonable assurance engagement also includes:
We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In our opinion and subject to the inherent limitations outlined elsewhere in this report, the selected sustainability information as set out in the Subject Matter paragraph above for the year ended 31 December 2024 are prepared, in all material respects, in accordance with the reporting criteria.
The maintenance and integrity of Gold Fields Limited's website is the responsibility of Gold Fields Limited's management. Our procedures did not involve consideration of these matters and, accordingly, we accept no responsibility for any changes to either the information in the Report or our independent assurance report that may have occurred since the initial date of presentation on Gold Fields Limited's website.
Our work has been undertaken to enable us to express a reasonable assurance opinion on the selected sustainability information to the directors of the Company in accordance with the terms of our engagement, and for no other purpose. We do not accept or assume liability to any party other than the Company, for our work, for this report, or for the conclusion we have reached. We neither owe nor accept any duty to any third party, whether in contract or in delict (including without limitation, negligence and breach of statutory duty) or however otherwise arising, and shall not be liable, in respect of any loss, damage or expense of whatsoever nature which is caused by the third party's usage of our Report.
PricewaterhouseCoopers Inc.
Director: Jameel Essop
Registered Auditor
Johannesburg, South Africa
27 March 2025