Our stakeholders
Relationships with our stakeholders are integral to achieving our purpose. Representing a wide range of rights and interests,
we continually work to ensure the interests of our stakeholders are represented and considered appropriately to enable informed decision-making that balances their interests,
needs and expectations.
Through transparent, inclusive and mutually respectful engagement and consistently delivering our commitments,
we aim to ensure our communities and stakeholders recognise and trust us for purpose-led social impact and nature-based solutions
that aim to enhance lives. We want to be the gold mining company that investors choose to invest in as we deliver superior returns,
host governments and communities prefer to partner with as we consistently and responsibly create Shared Value, and people and local
businesses want to work with as we ensure safe, respectful workplaces and rewarding careers.
Our ability to create enduring value relies on the support and input of our stakeholders which, in turn,
is informed by understanding their needs and expectations. We believe honest and mutually beneficial stakeholder relationships
are essential for our operations to achieve sustainable returns that benefit all.
As such, we aim to consistently deliver on our sustainability commitments.
Our stakeholder value creation is captured in our disclosure of national economic value creation in accordance with WGC guidelines.
As shown in the table below, during 2024, Gold Fields' total national economic value creation amounted to US$4.21bnRA (2023: US$3.76bn),
with payments to our suppliers and contractors traditionally accounting for about two-thirds thereof.
Financial value distributed to stakeholders in 2024 (US$m)
| |
Payments to
employees |
Host
community
SED spend1 |
Payments to suppliers
(including business
partners)3 |
Payments to
governments |
Payments to
capital
providers |
National
value
distribution |
| Australia |
183 |
2 |
1,192 |
311 |
6 |
1,694RA |
| South Africa |
117 |
4 2 |
356 |
4 4 |
3 |
483RA |
| Ghana |
81 |
5 |
789 |
266 5 |
27 |
1,168RA |
| Peru |
53 |
6 |
213 |
66 |
7 |
345RA |
| Corporate |
64 |
– |
2 |
16 |
442 |
524RA |
| Total Gold Fields |
498RA 6 |
17RA |
2,553RA |
662RA |
485RA |
4,214RA |
| 1 Excludes host community wages and procurement spend, which are captured under "Payments to employees" and
"Payments to suppliers and contractors", and is broken down under "Type of benefit to host communities" on the next
page. Excludes projects |
| 2 Includes US$496,622 from the South Deep trusts |
| 3 Includes contractors and suppliers, and excludes projects |
| 4 South Deep has carry-forward losses and allowances for offset against taxable income |
| 5 Excludes US$26m in dividends declared in lieu of the Ghanaian government's 10% stake in Tarkwa and Damang mines |
| 6 Excludes remuneration and benefits paid to employees working on capital projects |
Our 2024 Report to Stakeholders details our relationships with our key stakeholders and the benefits and
contributions we share with them.
Strong relationships with our stakeholders – as well as the value we create and distribute to them – support more
than just our social licence to operate: we strive to ensure all stakeholders, including our host communities,
experience sustainable benefits from our operations. Our Stakeholder Engagement Strategy recognises the crucial
role of stakeholders in our business, and our work is underpinned by maintaining and strengthening stakeholder
relationships based on respect, trust and transparency. On the pages that follow, we profile our key stakeholders,
outline their expectations and how we respond to these, and how we engage with them.
EMPLOYEES
Why these stakeholders matter
Our employees drive the implementation of our
strategy by having the requisite capabilities and
working collaboratively across the asset and
function teams in our various jurisdictions to
deliver the best possible outcomes.
Payments to employees
US$498mRA
paid in wages and benefits
Key stakeholder interests
- Physical and psychological safety of all employees, supported by workplaces where everyone feels safe,
respected and valued
- Changes in the organisational structure during 2024 and the transition from a three-layered regional model
to a two-layered, functional guidance organisational structure
- A diverse, inclusive and enabling culture that supports innovation
- An attractive employee value proposition, including fair compensation, opportunities for learning and
development, talent management, and fulfilling and rewarding careers
Our response
- Cultivating a strong culture of respect, inclusion and belonging through practices that promote diversity,
equity, and inclusion – guided by the implementation of EB&Co's recommendations
- Initiated an independent diagnostic by dss+ of our safety leadership, processes, systems and practices, with
recommendations incorporated into a safety improvement plan, which is being implemented
- Refined our organisational structure to enable strategic delivery
- Committing to increasing gender diversity, advancing women in leadership and technical roles, and
achieving pay parity
- Providing continued learning and training to all employees, focusing on capability development and career
path opportunities, including global mobility opportunities
- Providing accommodation and financial housing assistance to our employees
How we engage
Relevant material themes
- Internal communication channels
- Town halls
- Senior leader alignment sessions
- Employee surveys
- One-on-one engagements
- Performance reviews
- Protecting the health, safety and wellbeing of our employees and contractors
- Managing our People
HOST COMMUNITIES
Number of engagements in 2024: 896
Why these stakeholders matter
Our host communities are crucial to the
sustainability of our business. Their support
underpins our social licence to operate which,
in turn, impacts our ability to create enduring
value.
Value distribution to host communities
US$1.27bnRA
value distributed
US$16.6mRA
invested in SED
Key stakeholder interests
- Employment and procurement opportunities
- Education, skills and enterprise development
- Environmental impacts, including the mitigation of climate-related risks
- Investments to support social impact and nature-positive performance that enhances lives
- Benefit-sharing agreements
- Protecting culture and heritage
- Protecting human rights and respecting the culture, traditional rights, interest and heritage of Indigenous
and First Nations Peoples
Our response
- Implementing host community initiatives in education, health services, infrastructure development, skills
development, and sports and recreation
- Creating jobs and maximising opportunities for host community employment at our operations and through
community investments (i.e. non-mining jobs)
- Maximising local supplier opportunities and implementing enterprise development initiatives
- Setting and delivering targets for host community procurement and local employment
- Supporting community and environmental resilience beyond the LOM through our legacy programmes
- Concluding and implementing agreements with Indigenous and First Nations Peoples, as well as host
communities
- Implementing stakeholder engagement plans to ensure transparent and inclusive engagement with host
communities to understand and respond to their needs, expectations and grievances
- Sharing value created by Gold Fields
How we engage
Relevant material themes
- Meetings with communities and their representatives
- Website and social media channels
- Community grievance mechanisms
- Independent assessments and surveys
- Respecting the rights of our stakeholders
- Committing to sound environmental practices
- Creating Shared Value for host communities
SUPPLIERS
Why these stakeholders matter
Our contractors – who comprise 73% of our
workforce – and suppliers provide the services,
equipment, and materials necessary for our
operations to deliver safely, reliably and cost
efficiently. We define business partners as the
suppliers who provide expertise through
contractors to our operations.
Payment to suppliers
794
host community supplier
companies
97%
of total procurement spend
with in-country businesses
Key stakeholder interests
- In-country and host community procurement of goods and services
- Investment in enterprise and supplier development
- Sustainable materials and supply chain stewardship
- Payment times for host community small and medium-sized enterprise suppliers
- Communication and engagement on issues relating to respectful workplaces and gender safety
- Opportunities for businesses owned by women, Indigenous and First Nations Peoples, and historically disadvantaged people (HDP)
Our response
- Developing an integrated Business Partner Framework that sets clear guidelines and aligns our business
partners with our culture, standards and ways of work
- Seeking opportunities for community-based enterprises to participate in our supply chain guided by our host community procurement strategy
- Supporting small and medium-sized host community suppliers through preferential payment terms
- Engaging to understand and align suppliers' carbon emissions and, where relevant, their modern slavery impacts
How we engage
Relevant material themes
- Internal communication channels (contractors)
- Surveys
- Conferences
- Ongoing meetings and forums
- Supplier expos
- Protecting the health, safety and wellbeing of our employees and contractors
- Managing our People
CAPITAL PROVIDERS
Number of engagements in 2024: 484
Why these stakeholders matter
Our contractors - who comprise 73% of our
workforce - and suppliers provide the services,
equipment, and materials necessary for our
operations to deliver safely, reliably and cost
efficiently. We define business partners as the
suppliers who provide expertise through
contractors to our operations.
Payment to capital providers
US$485mRA
paid to providers of debt and
equity capital
0.73
net debt:adjusted
EBITDA ratio
Key stakeholder interests
- Delivery against our commitments and guidance
- Cost performance
- Capital allocation that supports delivery of competitive shareholder returns
- Balance sheet management
- Understanding of and demonstrated execution of Gold Fields' strategy
- Sound and ethical leadership and succession planning for executive management
- Progress on key sustainability priorities and risks, including safety, climate resilience and maintaining our social
licence to operate
- Delivery of growth projects on time and within budget – in particular, Salares Norte's ramp-up
- Portfolio management, including acquisitions, disposals and management for transitioning operations
Our response
- Developing and maintaining a strong portfolio of operations, including strategic investments and divestments
- Ensuring continued improvement at South Deep
- Continuing the ramp-up at Salares Norte
- Acquiring 100% of the Windfall project in Canada and ensuring progress to construction
- Developing a long-term greenfields exploration portfolio, including through strategic investment and partnerships
with juniors
- Applying our Capital Allocation Framework to fund growth, as well as develop and maintain our assets, balanced with
competitive shareholder returns
- Improving our share price and delivering a stable dividend in line with our Dividend Policy
How we engage
Relevant material themes
- Timeous announcements on the relevant stock exchange for Company announcements
- Results presentations
- Analyst presentations and reports
- One-on-one and group investor meetings
- Attending industry conferences and forums
- Ensuring business resilience
- Upholding sound corporate governance principles
GOVERNMENTS
Number of engagements in 2024: 466
Why these stakeholders matter
Maintaining positive relationships with
governments are essential to sustainable
operations. Governments are a key stakeholder
and an important partner in many of our projects
that seek to benefit society.
Payment to governments
US$662mRA
paid in taxes and royalties
US$26m
paid to the Ghana
government in dividends
for its 10% stake in each of
Damang and Tarkwa
Key stakeholder interests
- Compliance with relevant legislation and regulations, and support for local policy where appropriate
- Protection of human rights
- Payment of taxes, royalties and other levies
- In-country employment and procurement
- Investments in host communities, particularly infrastructure-related investments
- Upholding the highest standards of ethical business practice
- Commitment to sound environmental stewardship
Our response
- Adhering to all applicable regulatory and other requirements
- Paying royalties and taxes to host governments that, if utilised appropriately, can enable them to develop
critical infrastructure
- Community investment that contributes to shared sustainable development goals, grows and sustains non-mining jobs,
and builds institutional capacity in the countries where we operate
- Conducting our business in a fair and ethical manner by upholding our Code of Conduct
- Conducting independent, standalone human rights impact assessments
- Implementing the chinchilla capture and relocation project
How we engage
Relevant material themes
- Memberships to and active engagement in various industry forums
- Working relationships with public bodies
- Industry associations
- Ensuring business resilience
- Upholding sound corporate governance principles
- Respecting the rights of our stakeholders
- Committing to sound environmental practices