Gold Fields

Segmental operating and financial results

United States Dollars
Total
Mine
Operations
Including
Equity
Accounted
Joint
Venture
Total
Mine
Operations
Excluding
Equity
Accounted
Joint
Venture
South Africa
Region
West Africa
Region
South
America
Region
Ghana Peru
Figures in millions unless otherwise stated South
Deep
Total Tarkwa Damang Asanko
45%
Cerro
Corona
Operating Results Six months to June 2020 21,573 20,206 954 11,108 7,314 2,427 1,367 3,364
Ore milled/treated Six months to Dec 2019 20,427 19,122 1,126 10,496 6,863 2,328 1,305 3,370
(000 tonnes) Six months to June 2019 17,915 16,746 540 10,372 6,886 2,317 1,169 3,348
Yield (grams per tonne) Six months to June 2020 1.6 1.6 3.3 1.2 1.2 1.1 1.4 1.0
Six months to Dec 2019 1.8 1.8 3.6 1.2 1.1 1.3 1.4 1.3
Six months to June 2019 1.9 2.0 5.3 1.3 1.2 1.5 1.5 1.5
Gold produced (000 managed Six months to June 2020 1,123.2 1,062.3 100.4 420.4 271.7 87.8 60.9 108.7
equivalent ounces) Six months to Dec 2019 1,148.0 1,090.2 130.4 402.7 248.2 96.6 57.9 135.6
  Six months to June 2019 1,121.5 1,066.3 91.7 437.8 270.9 111.8 55.1 157.1
Gold sold (000 managed Six months to June 2020 1,129.9 1,071.8 97.8 417.6 271.7 87.8 58.1 113.0
equivalent ounces) Six months to Dec 2019 1,134.1 1,076.0 131.9 402.9 248.2 96.6 58.1 140.2
  Six months to June 2019 1,115.7 1,061.8 90.1 436.6 270.9 111.8 53.9 156.4
Gold price received Six months to June 2020 1,635 1,637 1,597 1,639 1,643 1,655 1,597 1,638
(dollar per equivalent ounce) Six months to Dec 2019 1,478 1,476 1,489 1,475 1,479 1,477 1,455 1,429
Six months to June 2019 1,297 1,298 1,314 1,300 1,304 1,303 1,275 1,268
Cost of sales before gold inventory Six months to June 2020 37 37 107 28 21 43 38 24
change and amortisation and Six months to Dec 2019 40 40 113 28 23 36 35 26
depreciation (dollar per tonne) Six months to June 2019 41 42 219 27 25 28 36 24
All-in-sustaining costs Six months to June 2020 978 981 1,227 1,060 988 1,371 929 547
(dollar per ounce) Six months to Dec 2019 893 883 1,076 995 978 991 1,072 501
revised interpretation Six months to June 2019 877 862 1,529 892 940 652 1,155 264
Total all-in-cost Six months to June 2020 1,020 1,017 1,234 1,093 988 1,425 1,083 709
(dollar per ounce) Six months to Dec 2019 987 975 1,076 1,074 978 1,247 1,195 661
Six months to June 2019 1,070 1,061 1,529 1,007 940 1,061 1,235 290
Financial Results ($ millions)
Revenue Six months to June 2020 1,847.1 1,754.3 156.2 684.4 446.3 145.3 92.8 185.1
Six months to Dec 2019 1,672.6 1,588.1 196.4 594.3 367.0 142.7 84.6 200.7
Six months to June 2019 1,447.4 1,378.7 118.4 567.7 353.4 145.6 68.7 198.3
Cost of sales Six months to June 2020 (809.2) (767.3) (103.3) (307.3) (162.2) (103.2) (41.9) (78.7)
before amortisation Six months to Dec 2019 (776.9) (728.7) (124.9) (289.4) (158.2) (82.9) (48.3) (81.3)
and depreciation Six months to June 2019 (736.9) (694.8) (117.4) (258.1) (157.2) (58.8) (42.1) (81.1)
Cost of sales before Six months to June 2020 (803.8) (752.5) (102.5) (310.7) (156.0) (103.3) (51.3) (79.5)
gold inventory change and Six months to Dec 2019 (810.5) (766.1) (127.4) (288.8) (159.5) (84.9) (44.4) (87.3)
amortisation and depreciation Six months to June 2019 (743.0) (700.3) (118.5) (278.4) (170.3) (65.5) (42.6) (81.2)
— Gold inventory change Six months to June 2020 (5.2) (14.8) (0.8) 3.6 (6.1) 0.1 9.6 0.8
Six months to Dec 2019 35.0 37.2 2.6 1.1 1.3 2.0 (2.2) 5.9
Six months to June 2019 6.1 5.6 1.2 20.3 13.1 6.8 0.5
Amortisation of Six months to June 2020 (312.9) (301.3) (13.1) (133.7) (95.4) (26.7) (11.6) (41.1)
mining assets Six months to Dec 2019 (336.9) (312.0) (16.1) (140.1) (91.1) (24.1) (24.9) (46.6)
Six months to June 2019 (305.0) (287.0) (16.8) (138.6) (90.7) (29.8) (18.1) (46.0)
Other expenses Six months to June 2020 (320.2) (320.5) (90.2) (91.3) (66.0) (25.6) 0.3 (9.6)
Six months to Dec 2019 (206.6) (203.0) (17.8) (48.8) (26.9) (18.3) (3.6) (6.9)
Six months to June 2019 (97.9) (93.5) (17.3) (31.6) (16.6) (10.6) (4.4) (10.8)
Profit/(loss) before Six months to June 2020 404.9 365.2 (50.5) 152.1 122.7 (10.3) 39.7 55.6
royalties and taxation Six months to Dec 2019 352.1 344.4 37.6 116.0 90.8 17.4 7.7 65.8
Six months to June 2019 307.5 303.4 (33.1) 139.4 88.9 46.4 4.1 60.4
Royalties, mining Six months to June 2020 (158.3) (153.7) 14.0 (54.1) (52.6) 3.1 (4.6) (29.5)
and income taxation Six months to Dec 2019 (133.0) (129.8) (7.0) (51.1) (41.0) (6.9) (3.2) (26.9)
Six months to June 2019 (119.9) (115.6) 9.0 (60.1) (37.2) (18.5) (4.3) (16.1)
— Normal taxation Six months to June 2020 (82.7) (82.7) (57.0) (57.0) (25.7)
Six months to Dec 2019 (133.0) (133.0) (45.0) (45.0) (28.7)
Six months to June 2019 (51.4) (51.4) (27.5) (27.5) (27.6)
— Royalties Six months to June 2020 (52.4) (47.7) (0.8) (28.3) (17.9) (5.8) (4.6) (2.7)
Six months to Dec 2019 (44.6) (40.3) (1.0) (24.2) (14.4) (5.6) (4.2) (2.8)
Six months to June 2019 (37.1) (33.6) (0.6) (19.7) (11.5) (4.7) (3.5) (2.7)
— Deferred taxation Six months to June 2020 (23.3) (23.3) 14.8 31.2 22.3 8.9 (1.0)
Six months to Dec 2019 44.5 43.4 (6.2) 18.1 18.3 (1.3) 1.0 4.6
Six months to June 2019 (31.4) (30.5) 9.6 (12.9) 1.7 (13.8) (0.8) 14.2
Profit/(loss) before Six months to June 2020 246.5 211.5 (36.4) 98.0 70.2 (7.2) 35.0 26.2
non-recurring items Six months to Dec 2019 219.2 214.6 30.5 64.9 49.7 10.6 4.6 38.9
Six months to June 2019 187.6 187.8 (24.1) 79.4 51.7 27.9 (0.2) 44.3
Non-recurring items Six months to June 2020 (12.3) (12.3) (0.9) (10.8) (0.7) (10.0) (0.2)
Six months to Dec 2019 (25.9) (25.9) 0.9 (13.2) (0.2) (13.0) (0.2)
Six months to June 2019 (0.2) (0.2) (0.1) 0.1 0.1
Net profit/(loss) Six months to June 2020 234.2 199.2 (37.3) 87.2 69.4 (17.2) 35.0 26.0
Six months to Dec 2019 193.3 188.7 31.4 51.7 49.6 (2.4) 4.6 38.7
Six months to June 2019 187.4 187.6 (24.2) 79.5 51.8 27.9 (0.2) 44.3
Capital expenditure Six months to June 2020 (228.4) (215.8) (14.6) (88.5) (67.5) (8.4) (12.6) (19.3)
Six months to Dec 2019 (265.8) (255.0) (15.6) (94.5) (57.2) (26.5) (10.8) (39.7)
Six months to June 2019 (370.8) (354.8) (17.6) (134.1) (68.3) (49.7) (16.0) (16.4)
The average US Dollar/Rand exchange rates for the six months were US$1 = R16.50 for June 2020, US$1 = R14.71 for December 2019 and US$1 = R14.22 for June 2019
The average Australian/US Dollar exchange rates for the six months were A$1 = US$0.66 for June 2020, A$1 = US$0.68 for December 2019 and A$1 = US$0.71 for June 2019.
Figures may not add as they are rounded independently.
Excludes Gruyere physicals.

      United States Dollars  
      Australia
Region
 
Figures in millions unless otherwise stated     Total   St Ives   Agnew   Granny
Smith
  Gruyere
50%
 
Operating Results                  
Ore milled/treated (000 tonnes) Six months to June 2020   6,147    2,516    698    877    2,057   
  Six months to Dec 2019   5,434    2,215    645    935    1,639   
  Six months to June 2019   3,655    2,251    586    818    —   
Yield (grams per tonne) Six months to June 2020   2.5    2.3    4.7    4.8    1.0   
  Six months to Dec 2019   2.8    2.6    5.1    4.7    1.0   
  Six months to June 2019   3.6    2.6    6.0    5.1    —   
Gold produced Six months to June 2020   493.8    188.1    105.9    134.1    65.7   
(000 managed equivalent ounces) Six months to Dec 2019   479.5    183.0    106.1    140.8    49.5   
  Six months to June 2019   434.9    187.6    113.3    134.0    —   
Gold sold Six months to June 2020   501.5    197.1    105.5    133.9    65.0   
(000 managed equivalent ounces) Six months to Dec 2019   458.9    180.1    104.1    140.9    33.7   
  Six months to June 2019   432.5    183.2    115.4    133.9    —   
Gold price received Six months to June 2020   1,638    1,632    1,636    1,645    1,645   
(dollar per equivalent ounce) Six months to Dec 2019   1,484    1,482    1,501    1,503    1,517   
  Six months to June 2019   1,302    1,299    1,304    1,303    —   
Cost of sales before gold inventory Six months to June 2020   51    46    113    92    17   
change and amortisation and Six months to Dec 2019   58    56    134    87    12   
depreciation (dollar per tonne) Six months to June 2019   71    48    136    94    —   
All-in sustaining costs Six months to June 2020   919    884    1,086    881    833   
(dollar per ounce) Six months to Dec 2019   818    776    993    775    683   
revised interpretation Six months to June 2019   841    859    944    727    —   
Total all-in-cost
Six months to June 2020   960    904    1,131    967    842   
(dollar per ounce) Six months to Dec 2019   941    918    1,056    946    684   
  Six months to June 2019   1185   1,008    1,238    895    —   
Financial Results ($ millions)                      
Revenue Six months to June 2020   821.5    321.7    172.6    220.3    106.9   
  Six months to Dec 2019   681.3    266.9    154.0    209.2    51.2   
  Six months to June 2019   562.9    238.0    150.5    174.5    —   
Cost of sales before Six months to June 2020   (319.8)   (123.6)   (79.1)   (81.1)   (36.0)  
amortisation and depreciation Six months to Dec 2019   (281.3)   (106.3)   (80.4)   (80.9)   (13.7)  
  Six months to June 2019   (280.3)   (122.4)   (81.6)   (76.3)   —   
Cost of sales before Six months to June 2020   (311.0)   (115.3)   (79.1)   (81.0)   (35.6)  
gold inventory change and Six months to Dec 2019   (306.9)   (123.0)   (85.0)   (80.0)   (19.1)  
amortisation and depreciation Six months to June 2019   (264.9)   (108.2)   (79.6)   (77.1)   —   
— Gold inventory change Six months to June 2020   (8.7)   (8.3)   0.1    (0.1)   (0.4)  
  Six months to Dec 2019   25.6    16.7    4.5    (1.0)   5.4   
  Six months to June 2019   (15.5)   (14.2)   (2.0)   0.7    —   
Amortisation of mining assets Six months to June 2020   (125.0)                  
  Six months to Dec 2019   (134.1)                  
  Six months to June 2019   (103.7)                  
Other expenses Six months to June 2020   (129.1)                  
  Six months to Dec 2019   (133.1)                  
  Six months to June 2019   (38.2)                  
Profit/(loss) before Six months to June 2020   247.6                   
royalties and taxation Six months to Dec 2019   132.7                   
  Six months to June 2019   140.7                   
Royalties, mining and income taxation Six months to June 2020   (88.9)                  
  Six months to Dec 2019   (47.8)                  
  Six months to June 2019   (52.7)                  
— Normal taxation Six months to June 2020   —                   
  Six months to Dec 2019   (59.3)                  
  Six months to June 2019   3.6                   
— Royalties Six months to June 2020   (20.6)                  
  Six months to Dec 2019   (16.4)                  
  Six months to June 2019   (14.1)                  
— Deferred taxation Six months to June 2020   (68.3)                  
  Six months to Dec 2019   28.0                   
  Six months to June 2019   (42.2)                  
Profit/(loss) before Six months to June 2020   158.7                   
non-recurring items Six months to Dec 2019   85.0                   
  Six months to June 2019   88.0                   
Non-recurring items Six months to June 2020   (0.4)                  
  Six months to Dec 2019   (13.5)                  
  Six months to June 2019   (0.2)                  
Net profit/(loss) Six months to June 2020   158.3                   
  Six months to Dec 2019   71.5                   
  Six months to June 2019   87.8                   
Capital expenditure Six months to June 2020   (106.0)   (37.4)   (26.4)   (32.1)   (10.0)  
  Six months to Dec 2019   (115.9)   (47.6)   (21.4)   (39.7)   (7.2)  
  Six months to June 2019   (202.8)   (50.7)   (54.7)   (32.5)   (64.9)  
As a significant portion of the acquisition price was allocated to tenements on endowment ounces and also as the Australian operations are entitled to transfer and then off-set tax losses from one company to another, it is not meaningful to split the income statement below operating profit.
1 For Australia, all financial numbers are in Australian Dollar.
2 For South Africa, all financial numbers are in Rand and Rand per kilogram.
Figures may not add as they are rounded independently.
? Excludes Gruyere physicals.

  Australian Dollars     South
African
Rand
    Australia
Region1
    South
Africa
Region2
Figures in millions unless otherwise stated   Total St Ives Agnew Granny
Smith
Gruyere
50%
South
Deep
Operating Results Six months to June 2020 6,147 2,516 698 877 2,057 954
Ore milled/treated (000 tonnes) Six months to Dec 2019 5,434 2,215 645 935 1,639 1,126
Six months to June 2019 3,655 2,251 586 818 540
Yield (grams per tonne) Six months to June 2020 2.5 2.3 4.7 4.8 1.0 3.3
Six months to Dec 2019 2.8 2.6 5.1 4.7 1.0 3.6
Six months to June 2019 3.6 2.6 6.0 5.1 5.3
Gold produced Six months to June 2020 493.8 188.1 105.9 134.1 65.7 3,123
(000 managed equivalent ounces) Six months to Dec 2019 479.5 183.0 106.1 140.8 49.5 4,056
Six months to June 2019 434.9 187.6 113.3 134.0 2,851
Gold sold Six months to June 2020 501.5 197.1 105.5 133.9 65.0 3,042
(000 managed equivalent ounces) Six months to Dec 2019 458.9 180.1 104.1 140.9 33.7 4,103
Six months to June 2019 432.5 183.2 115.4 133.9 2,804
Gold price received Six months to June 2020 2,493 2,485 2,490 2,504 2,502 847,286
(dollar per equivalent ounce) Six months to Dec 2019 2,161 2,159 2,158 2,162 2,181 699,087
Six months to June 2019 1,843 1,840 1,846 1,845 600,601
Cost of sales before gold inventory Six months to June 2020 77 70 173 141 26 1,773
change and amortisation and depreciation Six months to Dec 2019 83 81 192 125 17 1,662
(dollar per tonne) Six months to June 2019 101 68 192 133 3,119
All-in sustaining costs Six months to June 2020 1,400 1,346 1,655 1,342 1,269 650,972
(dollar per ounce) revised interpretation Six months to Dec 2019 1,194 1,135 1,450 1,130 983 507,928
Six months to June 2019 1,191 1,217 1,337 1,029 698,982
Total all-in-cost
Six months to June 2020 1,463 1,376 1,723 1,473 1,282 654,537
(dollar per ounce) Six months to Dec 2019 1,374 1,343 1,548 1,379 983 507,928
Six months to June 2019 1677 1,427 1,753 1,268 698,982
Financial Results ($ millions)
Revenue Six months to June 2020 1,250.4 489.7 262.7 335.4 162.6 2,577.1
Six months to Dec 2019 991.9 389.0 224.7 304.6 73.6 2,868.6
Six months to June 2019 797.0 337.0 213.1 247.0 1,683.9
Cost of sales before Six months to June 2020 (487.0) (188.2) (120.4) (123.5) (54.8) (1,705.1)
amortisation and depreciation Six months to Dec 2019 (410.7) (155.5) (117.4) (118.0) (19.7) (1,833.8)
Six months to June 2019 (396.9) (173.3) (115.5) (108.1) (1,668.8)
Cost of sales before Six months to June 2020 (473.7) (175.6) (120.5) (123.4) (54.2) (1,691.8)
gold inventory change and Six months to Dec 2019 (447.1) (179.2) (123.9) (116.5) (27.5) (1,870.9)
amortisation and depreciation Six months to June 2019 (375.0) (153.2) (112.7) (109.1) (1,685.3)
— Gold inventory change Six months to June 2020 (13.3) (12.6) 0.1 (0.1) (0.6) (13.3)
Six months to Dec 2019 36.5 23.7 6.5 (1.5) 7.8 37.2
Six months to June 2019 (21.9) (20.1) (2.8) 1.0 16.5
Amortisation of mining assets Six months to June 2020 (190.4) (216.0)
Six months to Dec 2019 (195.1) (237.1)
Six months to June 2019 (146.9) (238.6)
Other expenses Six months to June 2020 (196.6) (1,488.7)
Six months to Dec 2019 (192.2) (262.0)
Six months to June 2019 (54.1) (246.5)
Profit/(loss) before Six months to June 2020 376.4 (832.6)
royalties and taxation Six months to Dec 2019 194.0 535.7
Six months to June 2019 199.2 (470.0)
Royalties, mining and income taxation Six months to June 2020 (135.3) 231.8
Six months to Dec 2019 (69.9) (101.1)
Six months to June 2019 (74.6) 127.7
— Normal taxation Six months to June 2020
Six months to Dec 2019 (85.3)
Six months to June 2019 5.2
— Royalties Six months to June 2020 (31.4) (12.9)
Six months to Dec 2019 (23.9) (14.3)
Six months to June 2019 (20.0) (8.4)
— Deferred taxation Six months to June 2020 (104.0) 244.7
Six months to Dec 2019 39.3 (86.7)
Six months to June 2019 (59.8) 136.1
Profit/(loss) before Six months to June 2020 241.1 (600.8)
non-recurring items Six months to Dec 2019 124.1 434.6
Six months to June 2019 124.6 (342.3)
Non-recurring items Six months to June 2020 (0.7) (14.7)
Six months to Dec 2019 (19.4) 13.3
Six months to June 2019 (0.3) (1.2)
Net profit/(loss) Six months to June 2020 240.4 (615.5)
Six months to Dec 2019 104.7 447.9
Six months to June 2019 124.3 (343.5)
Capital expenditure Six months to June 2020 (161.4) (57.0) (40.3) (48.9) (15.3) (241.6)
Six months to Dec 2019 (171.2) (69.6) (32.0) (57.8) (11.8) (229.1)
Six months to June 2019 (287.2) (71.8) (77.5) (46.0) (91.9) (250.0)
As a significant portion of the acquisition price was allocated to tenements on endowment ounces and also as the Australian operations are entitled to transfer and then off-set tax losses from one company to another, it is not meaningful to split the income statement below operating profit.
1 For Australia, all financial numbers are in Australian Dollar.
2 For South Africa, all financial numbers are in Rand and Rand per kilogram.
Figures may not add as they are rounded independently.
? Excludes Gruyere physicals.