1.1 About this report
Our 2015 Integrated Annual Report comprises the following volumes:
- The Integrated Annual Report (IAR) 2015, which examines the integrated nature of our operational, financial and sustainability performance
- The Annual Financial Report 2015, which fulfils our statutory financial reporting requirements
- The Mineral Resources and Mineral Reserves Overview 2015, which provides detailed technical and operational information on our mines and growth projects
- Gold Fields Global Reporting Initiative (GRI) Content Index for the IAR 2015
The aim of our integrated approach is to enable our stakeholders, including investors, to make a more informed assessment of the value of Gold Fields and its prospects. The IAR also forms part of our Communication on Progress to the United Nations Global Compact. A summary of our adherence to the GRI, the 10 Principles of the United Nations Global Compact and the 10 Principles of the International Council on Mining & Metals (ICMM) and its mandatory requirements of the position statements are presented online.
Forward looking statements
Readers are referred to the forward looking statements on p148.
About Gold Fields
Gold Fields Limited is an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa with attributable annual gold production of approximately 2.2 million ounces. It has attributable Mineral Reserves of around 46 million ounces and Mineral Resources of around 102 million ounces. Attributable copper Mineral Reserves total 532 million pounds and Mineral Resources 910 million pounds. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE) and the Swiss Exchange (SWX)
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Scope and boundaries of this report
This is Gold Fields’ 2015 IAR. It covers the reporting period from 1 January 2015 to 31 December 2015. The previous IAR was published in March 2015 and covered the financial reporting period from 1 January 2014 to 31 December 2014.
This IAR provides an overview of Gold Fields’ eight global operations in Australia, Ghana, Peru and South Africa, as well as our exploration and business development activities. Detail on the exact location of each operation and project can be found on the global map on page 2.
We use an integrated approach to reporting that examines our operational, financial and sustainability performance. All non-financial data for 2013 exclude the Yilgarn South assets we acquired that year, unless otherwise indicated. All 2014 and 2015 non-financial data are inclusive of the Yilgarn South assets. Furthermore, all 2012 data, where stated, cover only the continued operations of Gold Fields, i.e. they exclude the contributions from the Sibanye Gold assets, which were unbundled from Gold Fields in February 2013. This report has been compiled in accordance with the GRI’s G4 Guidelines and the International Integrated Reporting Council Framework. Gold Fields also references a broad range of additional codes, frameworks and standards in compiling the report, the full list of which can be found on page 35. We believe the Integrated Annual Report, together with additional documents held online, complies with the requirements of GRI G4 Core Reporting Guidelines.
An average exchange rate for 2015 of R12.68 and A$0.72 to the US Dollar have been used in this report. For 2016 forecasts exchange rates of R14.14 and A$0.73 to the US Dollar have been used.
Assurance
Our auditors, KPMG, have provided reasonable assurance on selected sustainability information in this report, which is prepared in accordance with the GRI G4 guidelines. As a member of the ICMM we are committed to obtaining assurance in line with the ICMM Sustainable Development Framework: Assurance Procedure. KPMG has provided assurance on the four subject matters of the ICMM (ICMM subject matter 5 is not applicable due to Gold Fields’ transition to GRI G4 Core). The key sustainability performance data for assurance by KPMG in 2015 can be found on page 143.
Board approval
The Gold Fields Board of Directors considers that this IAR complies in all material respects with the relevant statutory requirements of the various regulations governing disclosure and reporting by Gold Fields and that the annual financial statements comply in all material respects with the South African Companies Act No 71 of 2008, as amended, as well as with International Financial Reporting Standards. As such, the Board approves the content of the IAR 2015, including the Annual Financial Report 2015.
Cheryl Carolus
Chairperson of the Board
22 March 2016
Send us your feedback
To ensure that we report on issues that matter to our stakeholders please provide any feedback and questions to:
media@goldfields.com, sustainability@goldfields.com or visit www.goldfields.com to download the feedback form.