Integrated Annual Review 2012 Annual Financial Report 2012 Mineral Resources and Mineral Reserves Regional overview  
 

5.1.4 Operational portfolio review

Following the July 2012 keynote speech by Gold Fields CEO Nick Holland to the Melbourne Mining Club (in which he declared the paramount need for the gold mining industry to pursue cash generation over ounces produced), we have undertaken a major operational portfolio review to ensure we are able to meet this challenge. Key actions taken to improve the ability of our operations to improve their free cash flow are set out in Figure 5.5.

These are in addition to our broader cost-saving initiatives, including:

  • Rationalisation of headquarters and regional structures
  • A reduction in our greenfields exploration budget to US$80 million per year (p108)