Hedging / Derivatives


The Group’s policy is to remain unhedged to the gold price.  However, hedges are sometimes undertaken on a project specific basis as follows:

  • to protect cash flows at times of significant expenditure;
  • for specific debt servicing requirements; and
  • to safeguard the viability of higher cost operations.
Gold Fields may from time to time establish currency financial instruments to protect underlying cash flows.
  There were no outstanding hedging or derivative as at the end of June 2011.