Mining charter
Gold Fields makes good progress against new Mining Charter targets in South Africa
During 2010, the South African Department of Mineral Resources
(DMR) unveiled the revised Mining Charter 2010. The revised Mining
Charter updates and expands upon a set of empowerment targets
(originally set in the Mining Charter 2002), that mining companies in
South Africa are required to comply with by March 2015. Details of
Gold Fields progress against key targets are set out below:
- Minimum 26% HDSA ownership by 2014: In 2009, Mvelaphanda
Gold (MvelaGold) subscribed for 15% of Gold Fields South African
assets (GFIMSA) representing an effective 15% HDSA ownership
interest. During 2010, Gold Fields implemented three further Black
Economic Empowerment (BEE) transactions. Taken together, these
transactions enabled Gold Fields to achieve its 2014 Mining Charter
HDSA ownership target
- Procurement of a minimum 40% of capital goods, 50% of
consumer goods and 70% of services from BEE entities by 2014:
By 2011, Gold Fields had achieved an overall HDSA procurement
rate of 46% across all categories. HDSA procurement is broken
down as follows: 47% of capital goods; 46% of consumer goods;
and 46% of services
- Minimum 40% HDSA representation amongst management and
technical skills: In 2011, Gold Fields had achieved 43% HDSA
representation amongst junior management, 41% amongst middle
management and 30% amongst senior management at its South
African operations. At Group Board level the representation is 36%
- Invest 3% of annual payroll in skills training: Apart from the South
Deep mine, which is still undergoing construction and development,
all operations are on-track to achieve this target
- Investment in community development: As part of their Social and
Labour Plans, Gold Fields operations are involved in a number
of community development projects focused on infrastructure
development, job creation and poverty alleviation – with particular
support for enterprise development (p144). The projects that qualify
under these plans are listed on our website (www.goldfields.co.za)
- Attain an occupancy rate of one person per room (in on-site
accommodation): Gold Fields has completed more than 90% of
planned hostel upgrades at Beatrix, KDC East and KDC West,
and has made significant progress in terms of the establishment
of family accommodation. During 2011, Gold Fields built 100
family units and upgraded 541 hostel units. At the end of 2011,
the occupancy rate at hostels at Beatrix, KDC East and KDC West
averaged 1.45 per room. South Deep’s licence was only approved
in 2010 and was followed by an engagement process with
organised labour. As a result, the hostel upgrade programme
at the mine will only be initiated in 2012
|
