Gold Fields

Segmental Operating and Financial Results

                United States Dollars    
Figures in millions unless otherwise stated 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  
South
Deep
  Total   Tarkwa   Damang   Asanko
45%
  Cerro
Corona
 
Operating Results Six months to June 2021 21,005    19,691    1,472    10,648    6,982    2,352    1,313    3,336   
Ore milled/treated Six months to Dec 2020 21,133  19,826  1,303  10,599  6,920  2,372  1,307  3,431 
(000 tonnes) Six months to June 2020 21,573    20,206    954    11,108    7,314    2,427    1,367    3,364   
Yield Six months to June 2021 1.7    1.7    2.7    1.3    1.1    1.8    1.2    0.9   
(grams per tonne) Six months to Dec 2020 1.8  1.8  3.0  1.3  1.1  1.8  1.2  0.9 
Six months to June 2020 1.6    1.6    3.3    1.2    1.2    1.1    1.4    1.0   
Gold produced Six months to June 2021 1,148.2    1,098.5    127.6    440.1    256.9    133.5    49.7    99.3   
(000 managed equivalent Six months to Dec 2020 1,189.2  1,137.7  126.5  441.3  254.6  135.2  51.6  98.4 
ounces) Six months to June 2020 1,123.2    1,062.3    100.4    420.4    271.7    87.8    60.9    108.7   
Gold produced Six months to June 2021 1,104.1    1,054.4    123.1    401.0    231.2    120.1    49.7    98.8   
(000 attributable equivalent Six months to Dec 2020 1,149.9  1,098.3  126.5  402.4  229.1  121.7  51.6  97.9 
ounces) Six months to June 2020 1,086.8    1,025.9    100.4    384.4    244.5    79.0    60.9    108.2   
Gold sold Six months to June 2021 1,154.7    1,102.3    124.4    442.7    256.9    133.5    52.3    103.5   
(000 managed equivalent Six months to Dec 2020 1,181.9  1,130.3  126.5  441.3  254.6  135.2  51.5  98.4 
ounces) Six months to June 2020 1,129.9    1,071.8    97.8    417.6    271.7    87.8    58.1    113.0   
Gold price received (Dollar per equivalent ounce) Six months to June 2021 1,798    1,799    1,793    1,798    1,800    1,803    1,772    1,772   
  Six months to Dec 2020 1,889  1,891  1,890  1,886  1,891  1,890  1,848  1,987 
Six months to June 2020 1,635    1,637    1,597    1,639    1,643    1,655    1,597    1,638   
Cost of sales before gold inventory Six months to June 2021 43    44    103    30    23    47    42    25   
change and amortisation and Six months to Dec 2020 41  40  96  31  20  55  43  23 
depreciation (Dollar per tonne) Six months to June 2020 37    37    107    28    21    43    38    24   
All-in sustaining costs Six months to June 2021 1,087    1,076    1,368    1,081    1,203    753    1,314    31   
(Dollar per ounce) Six months to Dec 2020 960  943  1,245  995  1,047  772  1,322  400 
  Six months to June 2020 978    981    1,227    1,060    988    1,371    929    547   
Total all-in cost Six months to June 2021 1,153    1,139    1,444    1,114    1,203    810    1,448    321   
(Dollar per ounce) Six months to Dec 2020 1,009  982  1,280  1,028  1,047  782  1,579  722 
  Six months to June 2020 1,020    1,017    1,234    1,093    988    1,425    1,083    709   
Financial Results (US$ millions)                
Revenue Six months to June 2021 2,076.3    1,983.6    223.0   795.7   462.4   240.7   92.7   183.4*  
Six months to Dec 2020 2,233.1  2,137.8  243.9  832.3  481.5  255.5  95.3  183.7 
Six months to June 2020 1,847.1    1,754.3    156.2    684.4    446.3    145.3    92.8    185.1   
Cost of sales before Six months to June 2021 (887.0)   (831.4)   (147.9)   (288.2)   (157.4)   (75.2)   (55.6)   (91.2)  
amortisation and depreciation Six months to Dec 2020 (774.1) (722.0) (125.6) (255.6) (134.8) (68.6) (52.2) (75.6)
  Six months to June 2020 (809.2)   (767.3)   (103.3)   (307.3)   (162.2)   (103.2)   (41.9)   (78.7)  
Cost of sales before gold Six months to June 2021 (913.6)   (858.0)   (151.5)   (324.7)   (157.5)   (111.7)   (55.5)   (83.9)  
inventory change and Six months to Dec 2020 (857.8) (802.3) (124.7) (323.8) (138.5) (129.7) (55.6) (78.8)
amortisation and depreciation Six months to June 2020 (803.8)   (752.5)   (102.5)   (310.7)   (156.0)   (103.3)   (51.3)   (79.5)  
– Gold inventory change Six months to June 2021 26.5    26.6    3.7    36.5    0.1    36.5    (0.1)   (7.3)  
Six months to Dec 2020 83.6  80.3  (1.0) 68.2  3.7  61.1  3.4  3.1 
Six months to June 2020 (5.2)   (14.8)   (0.8)   3.6    (6.1)   0.1    9.6    0.8   
Amortisation of mining assets Six months to June 2021 (315.6)   (306.3)   (20.0)   (127.3)   (70.3)   (47.6)   (9.3)   (33.1)  
Six months to Dec 2020 (359.3) (348.0) (16.0) (133.0) (72.8) (48.9) (11.4) (36.5)
Six months to June 2020 (312.9)   (301.3)   (13.1)   (133.7)   (95.4)   (26.7)   (11.6)   (41.1)  
Other expenses Six months to June 2021 (106.2)   (101.6)   (1.0)   (16.0)   (5.4)   (6.1)   (4.6)   (42.0)  
Six months to Dec 2020 (196.5) (193.9) (0.9) (37.3) (18.0) (16.7) (2.6) (22.5)
Six months to June 2020 (320.2)   (320.5)   (90.2)   (91.3)   (66.0)   (25.6)   0.3    (9.6)  
Profit/(loss) before royalties Six months to June 2021 767.5    744.3    54.1    364.2    229.2    111.8    23.2    17.1   
and taxation Six months to Dec 2020 903.1  873.9  101.4  406.5  256.0  121.3  29.2  49.0 
  Six months to June 2020 404.9    365.2    (50.5)   152.1    122.7    (10.3)   39.7    55.6   
Royalties, mining and Six months to June 2021 (273.8)   (269.1)   (17.0)   (131.2)   (84.5)   (42.0)   (4.6)   (7.5)  
income taxation Six months to Dec 2020 (353.1) (348.4) (30.0) (184.2) (121.4) (58.0) (4.8) (18.9)
  Six months to June 2020 (158.3)   (153.7)   14.0    (54.1)   (52.6)   3.1    (4.6)   (29.5)  
– Normal taxation Six months to June 2021 (105.2)   (105.2)   —    (91.1)   (51.5)   (39.6)   —    (14.1)  
Six months to Dec 2020 (265.1) (265.1) —  (72.6) (72.6) —  —  (26.5)
Six months to June 2020 (82.7)   (82.7)   —    (57.0)   (57.0)   —    —    (25.7)  
– Royalties Six months to June 2021 (58.8)   (54.1)   (1.1)   (32.8)   (18.5)   (9.6)   (4.6)   (2.6)  
Six months to Dec 2020 (62.0) (57.3) (1.2) (34.2) (19.3) (10.2) (4.8) (2.9)
Six months to June 2020 (52.4)   (47.7)   (0.8)   (28.3)   (17.9)   (5.8)   (4.6)   (2.7)  
– Deferred taxation Six months to June 2021 (109.8)   (109.8)   (15.9)   (7.3)   (14.5)   7.2    —    9.3   
Six months to Dec 2020 (26.0) (26.0) (28.8) (77.3) (29.5) (47.8) —  10.5 
Six months to June 2020 (23.3)   (23.3)   14.8    31.2    22.3    8.9    —    (1.0)  
Profit/(loss) before Six months to June 2021 493.7    475.2    37.1    233.0    144.7    69.8    18.6    9.6   
non-recurring items Six months to Dec 2020 550.0  525.6  71.4  222.4  134.6  63.3  24.5  30.1 
  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 June 2021 5.9    5.9    (1.3)   (1.3)   (1.3)   —    —    (0.6)  
Six months to Dec 2020 (35.7) (35.7) 1.2  (31.4) (30.5) (0.9) —  (2.1)
Six months to June 2020 (12.3)   (12.3)   (0.9)   (10.8)   (0.7)   (10.0)   —    (0.2)  
Net profit/(loss) Six months to June 2021 499.6    481.0    35.8    231.7    143.4    69.8    18.6    9.0   
Six months to Dec 2020 514.3  489.9  72.6  190.9  104.1  62.4  24.5  27.9 
Six months to June 2020 234.2    199.2    (37.3)   87.2    69.4    (17.2)   35.0    26.0   
Capital expenditure Six months to June 2021 (331.5)   (322.2)   (29.4)   (127.2)   (107.7)   (10.1)   (9.3)   (18.8)  
Six months to Dec 2020 (288.6) (270.0) (34.4) (109.8) (79.7) (11.5) (18.6) (30.6)
Six months to June 2020 (228.4)   (215.8)   (14.6)   (88.5)   (67.5)   (8.4)   (12.6)   (19.3)  

The average US Dollar/Rand exchange rates for the six months were US$1 = R14.54 for June 2021, US$1 = R16.26 for December 2020 and US$1 = R16.50 for June 2020
The average Australian/US Dollar exchange rates for the six months were A$1 = US$0.77 for June 2021, A$1 = US$0.72 for December 2020 and A$1 = US$0.66 for June 2020.
*Included in total revenue is copper revenue of US$105.2m (Six months to December 2020: US$80.3m and six months to June 2020: US$62.5m).
Figures may not add as they are rounded independently.

   United States Dollars  Australian Dollars  South African Rand 
Figures in millions unless otherwise stated  Australia
Region 
Australia
Region1 
South   Africa  
 Region2
Total    St Ives    Agnew    Granny 
Smith 
  Gruyere
50% 
  Total    St Ives    Agnew    Granny  Smith    Gruyere
50% 
  South  
Deep  
Operating Results                                           
Ore milled/treated (000 tonnes) Six months to June 2021  5,549    2,048    626    824    2,051    5,549    2,048    626    824    2,051    1,472  
Six months to Dec 2020  5,799    2,301    658    842    1,997    5,799    2,301    658    842    1,997    1,303  
Six months to June 2020  6,147    2,516    698    877    2,057    6,147    2,516    698    877    2,057    954  
Yield (grams per tonne) Six months to June 2021  2.7    2.9    5.5    4.6    0.9    2.7    2.9    5.5    4.6    0.9    2.7  
Six months to Dec 2020  2.8    2.7    6.0    5.0    1.0    2.8    2.7    6.0    5.0    1.0    3.0  
Six months to June 2020  2.5    2.3    4.7    4.8    1.0    2.5    2.3    4.7    4.8    1.0    3.3  
Gold produced (000 managed equivalent ounces) Six months to June 2021  481.2    188.5    111.7    121.3    59.7    481.2    188.5    111.7    121.3    59.7    3,970  
Six months to Dec 2020  523.1    196.8    127.3    135.6    63.4    523.1    196.8    127.3    135.6    63.4    3,933  
Six months to June 2020  493.8    188.1    105.9    134.1    65.7    493.8    188.1    105.9    134.1    65.7    3,123  
Gold produced
(000 attributable equivalent
ounces)
Six months to June 2021  481.2    188.5    111.7    121.3    59.7    481.2    188.5    111.7    121.3    59.7    3,828  
Six months to Dec 2020  523.1    196.8    127.3    135.6    63.4    523.1    196.8    127.3    135.6    63.4    3,933  
Six months to June 2020  493.8    188.1    105.9    134.1    65.7    493.8    188.1    105.9    134.1    65.7    3,123  
Gold sold (000 managed equivalent ounces) Six months to June 2021  484.1    188.5    112.5    122.6    60.6    484.1    188.5    112.5    122.6    60.6    3,868  
Six months to Dec 2020  519.0    196.7    128.0    131.3    63.0    519.0    196.7    128.0    131.3    63.0    4,014  
Six months to June 2020  501.5    197.1    105.5    133.9    65.0    501.5    197.1    105.5    133.9    65.0    3,042  
Gold price received (Dollar per equivalent ounce) Six months to June 2021  1,806    1,808    1,814    1,792    1,811    2,340    2,344    2,351    2,322    2,345    838,127  
Six months to Dec 2020  1,875    1,879    1,866    1,874    1,883    2,608    2,609    2,612    2,599    2,613    990,398  
Six months to June 2020  1,638    1,632    1,636    1,645    1,645    2,493    2,485    2,490    2,504    2,502    847,286  
Cost of sales before gold inventory change and amortisation and depreciation (Dollar per tonne) Six months to June 2021  64    63    134    119    21    83    81    173    154    27    1,497  
  Six months to Dec 2020  57    54    119    106    19    79    75    164    147    26    1,557  
  Six months to June 2020  51    46    113    92    17    77    70    173    141    26    1,773  
All-in sustaining costs
(Dollar per ounce)
Six months to June 2021  1,116    1,047    1,178    1,158    1,133    1,447    1,357    1,528    1,501    1,469    639,288  
Six months to Dec 2020  916    803    960    996    1,012    1,264    1,100    1,327    1,379    1,406    651,925  
Six months to June 2020  919    884    1,086    881    833    1,400    1,346    1,655    1,342    1,269    650,972  
Total all-in cost
(Dollar per ounce)
Six months to June 2021  1,189    1,078    1,305    1,276    1,146    1,542    1,398    1,692    1,654    1,486    674,965  
Six months to Dec 2020  953    842    989    1,054    1,022    1,316    1,155    1,366    1,457    1,420    670,528  
Six months to June 2020  960    904    1,131    967    842    1,463    1,376    1,723    1,473    1,282    654,537  
Financial Results (US$ millions)                                          
Revenue  Six months to June 2021  874.2    340.8    204.2    219.6    109.7    1,132.9    441.7    264.6    284.6    142.1    3,241.7  
Six months to Dec 2020  973.2    369.7    238.9    246.1    118.5    1,353.4    513.3    334.3    341.3    164.5    3,975.8  
Six months to June 2020  821.5    321.7    172.6    220.3    106.9    1,250.4    489.7    262.7    335.4    162.6    2,577.1  
Cost of sales before amortisation and depreciation  Six months to June 2021  (359.7)   (136.5)   (88.8)   (96.7)   (37.6)   (466.4)   (177.0)   (115.2)   (125.4)   (48.8)   (2,150.2) 
Six months to Dec 2020  (317.3)   (110.5)   (83.7)   (86.0)   (37.1)   (437.1)   (151.3)   (115.6)   (118.9)   (51.2)   (2,045.5) 
Six months to June 2020  (319.8)   (123.6)   (79.1)   (81.1)   (36.0)   (487.0)   (188.2)   (120.4)   (123.5)   (54.8)   (1,705.1) 
Cost of sales before gold inventory change and
amortisation and depreciation 
Six months to June 2021  (353.4)   (128.5)   (83.7)   (97.8)   (43.3)   (458.2)   (166.6)   (108.5)   (126.8)   (56.2)   (2,203.5) 
Six months to Dec 2020  (330.6)   (125.4)   (78.2)   (89.2)   (37.8)   (457.0)   (173.5)   (107.7)   (123.5)   (52.3)   (2,029.9)
Six months to June 2020  (311.0)   (115.3)   (79.1)   (81.0)   (35.6)   (473.7)   (175.6)   (120.5)   (123.4)   (54.2)   (1,691.8) 
– Gold inventory change  Six months to June 2021  (6.3)   (8.0)   (5.1)   1.1    5.7    (8.2)   (10.4)   (6.6)   1.4    7.4    53.3  
Six months to Dec 2020  13.3    14.9    (5.5)   3.2    0.7    19.9    22.2    (8.0)   4.6    1.1    (15.6) 
Six months to June 2020  (8.7)   (8.3)   0.1    (0.1)   (0.4)   (13.3)   (12.6)   0.1    (0.1)   (0.6)   (13.3) 
Amortisation of mining assets  Six months to June 2021  (135.3)   (36.8)   (27.1)   (32.8)   (38.6)   (175.4)   (47.7)   (35.1)   (42.5)   (50.0)   (290.7) 
Six months to Dec 2020  (173.8)                   (243.0)                   (260.1) 
Six months to June 2020  (125.0)                   (190.4)                   (216.0) 
Other expenses  Six months to June 2021  (47.2)                   (61.2)                   (14.0) 
Six months to Dec 2020  (135.8)                   (187.7)                   (3.3) 
Six months to June 2020  (129.1)                   (196.6)                   (1,488.7) 
Profit/(loss) before royalties and taxation  Six months to June 2021  332.1                    430.0                    786.8  
Six months to Dec 2020  346.2                    485.6                    1,667.0  
Six months to June 2020  247.6                    376.4                    (832.6) 
Royalties, mining and income taxation  Six months to June 2021  (118.1)                   (153.1)                   (246.7) 
Six months to Dec 2020  (120.1)                   (167.7)                   (492.7) 
Six months to June 2020  (88.9)                   (135.3)                   231.8  
– Normal taxation  Six months to June 2021  –                    –                    –  
Six months to Dec 2020  (166.0)                   (240.8)                   –  
Six months to June 2020  –                    –                    –  
– Royalties  Six months to June 2021  (22.3)                   (28.9)                   (16.2) 
Six months to Dec 2020  (23.7)                   (32.8)                   (19.9) 
Six months to June 2020  (20.6)                   (31.4)                   (12.9) 
– Deferred taxation  Six months to June 2021  (95.8)                   (124.2)                   (230.5) 
Six months to Dec 2020  69.6                    105.9                    (472.8) 
Six months to June 2020  (68.3)                   (104.0)                   244.7  
Profit/(loss) before non-recurring items  Six months to June 2021  214.0                    276.9                    540.1  
Six months to Dec 2020  226.2                    317.8                    1,174.3  
Six months to June 2020  158.7                    241.1                    (600.8) 
Non-recurring items  Six months to June 2021  9.1                    11.8                    (18.9) 
Six months to Dec 2020  (3.3)                   (4.8)                   19.9  
Six months to June 2020  (0.4)                   (0.7)                   (14.7) 
Net profit/(loss) Six months to June 2021  223.0                    288.6                    521.2  
Six months to Dec 2020  222.9                    313.0                    1,194.2  
Six months to June 2020  158.3                    240.4                    (615.5) 
Capital expenditure  Six months to June 2021  (156.1)   (51.2)   (42.4)   (40.5)   (22.0)   (202.4)   (66.4)   (54.9)   (52.6)   (28.5)   (428.1) 
Six months to Dec 2020  (113.8)   (36.0)   (25.5)   (34.3)   (18.0)   (157.4)   (49.6)   (35.0)   (47.4)   (25.4)   (562.4) 
Six months to June 2020  (106.0)   (37.4)   (26.4)   (32.1)   (10.0)   (161.4)   (57.0)   (40.3)   (48.9)   (15.3)   (241.6) 

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.