Corporate

Ranked top in carbon ratings

On 12 November 2010 Gold Fields announced that it was ranked joint first in the JSE Top 100 Carbon Disclosure Leadership Index (CDLI), which rates companies listed on the Johannesburg Stock Exchange in South Africa on their disclosure of carbon emissions. The CDLI is carried out annually by the global Carbon Disclosure Project (CDP) organisation amongst 5,000 companies in sixty countries

The CDP also evaluates companies based on their strategies and projects to mitigate the impact of climate change. In this ranking, the Carbon Performance Ratings, Gold Fields was one of only four JSE Top 100 companies placed in the top band world-wide for climate mitigation and adaptation actions.

Sponsorship to University of Johannesburg’s mining engineering

The sponsorship aims to forge an alliance between Gold Fields and the University to promote the study of mining engineering and technology and the realising of core skills required to sustain not only the company itself but the local industry at large.

The announcement comes amid a renewed sense of urgency amongst local industry at large to address the lack of skills in the country. The impact of the skills shortage is compounded by the departure of established mining engineers and senior technical staff due to emigration and retirement.

The sponsorship is in addition to a range of other educational initiatives.  Last year the company spent around R165 million on education in South Africa.

Empowerment transactions

During the quarter three Black Economic Empowerment (BEE) transactions were concluded and accounted for under non-recurring items: 

i) An employee Share Option plan for 10.75 per cent of GFIMSA amounting to R1,227 million (US$172 million);
ii) a broad-based BEE transaction for 10 per cent of South Deep amounting to R825 million (US$116 million); and
iii) a broad-based BEE transaction for 1 per cent of GFIMSA amounting to R73 million (US$10 million), excluding South Deep.