Share Price
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| JSE |
88.00 |
-2.22% |
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| NYSE |
12.07 |
-0.74% |
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| RAND/US$ |
7.4503 |
-0.4747% |
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| RAND/STERLING |
11.1887 |
-0.7846% |
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| GOLD |
1107.13 |
-0.57% |
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| PLATINUM |
1593.50 |
-0.09% |
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Gold Fields is one of the world’s largest unhedged producers of gold with attributable production of 3.6 million ounces* per annum from nine operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfields and near mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 81 million ounces and Mineral Resources of 271 million ounces.
*Based on the annualised run rate for the fourth quarter of F2009 |
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Mining charter table
Human resources development
| Has every employee been offered the
opportunity to be functionally literate
and numerate by 2005 and are
employees being trained? |
In F2008, 5,773 employees attended ABET
of which 1,500 are ABET level 4 which
brings the percentage of the total work force
that is functionally literate and numerate from
39 per cent to 43 per cent. |
Although the target of 4,800 for F2009 will
continue to be influenced by the objectives
set in the Social and Labour Plans,
changing labour, socio-economic, political
and workplace realities will dictate a
change in the approach to the setting of
literacy and numeracy targets. A new
dispensation is likely to focus on a dual
strategy of literacy and numeracy provision
to younger employees, and the provision of
portable skills to older employees who are
less inclined to literacy and numeracy
learning, and who may prefer to acquire
portable skills which can sustain economic
activity after their formal employment with
Gold Fields Limited. The detail of such a
new dispensation has yet to be worked out
with the social partners. |
| Have career paths and skills
development plans been implemented
for HDSA employees? |
Workplace Skills Plans and Annual Training
Reports covering all Historically
Disadvantaged South Africans (HDSA)
employees and which have been ratified by
organised labour representatives, are
submitted individually to the MQA by the
mining operations before 30 June of each
year, and the company has a policy that
stipulates that every employee attending
ABET level 4 must have an Individual
Development Plan which is aligned to the
elective subjects chosen for the qualification. |
Continue providing a workplace skills plan
and annual training report covering all
HDSA employees as required by MQA as
well as alignment with any new legislative
requirements as they come into force. |
| Has the Group developed mentorship
systems for empowerment groups? |
An upgraded mentorship and protégé
programme was launched during the year.
The programme comprised training
interventions to give capacity to the mentor
population, and a matching of mentors to
protégés to facilitate programme rollout.
The programme is aligned to other
elements of the Group human resource
development programme, for example
individual development plans, assessment
frameworks, and mentorship and coaching
of subordinates are performance
deliverables for the management level.
All ABET practitioners are trained and
placed in a pool to be chosen by learners
as coaches and mentors. |
Systematic extension of upgraded
mentorship programme established in
F2008 to the rest of the population on
formal succession plans and in the HDSA
talent pool. |
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Employment equity
| Has the employment equity plan been
published and has annual progress in
meeting this plan been reported? |
The 2008 employment equity plan is to be
submitted to the Department of Labour.
The Transformation Steering Committee
continues to monitor its implementation
across all South African operations. |
The employment equity plan will continue
to be revised and updated to ensure that it
is in line with existing legislation. The
transformation committees at operational
and corporate level will continue to guide
the implementation of employment equity. |
| Has a plan been established to achieve
HDSA participation in management of
40 per cent within five years and is the
plan being implemented? |
A plan to increase HDSA participation in
management is in place and its
implementation is guided by the
Transformation Steering Committee. |
A strategy is in place to achieve 40 per cent
HDSA participation in management by
2009. |
| Has the company identified a pool of
talent and is this being fast-tracked? |
Representation of HDSA in management,
showed a steady increase over the last
year from 33 per cent to 37 per cent. |
Talent pool identification and fast tracking
programmes will continue in supporting the
next level targets in the social and labour
plans. |
| Has a plan been devised to achieve
10 per cent participation by women
by 2009 and is this plan being
implemented? |
Current levels have improved from 2007,
3.2 per cent to 5.7 per cent with the
inclusion of South Deep. |
A strategy is in place and continues to
aspire to the mining charter target for 2009.
The mining operations, who are individual
holders of mining rights, are also continuing
with dedicated efforts and strategies to
achieve their respective targets of 5 per
cent by 2009 as well as the 10 per cent
Social and Labour Plan commitments by
2016. These targets were negotiated and
agreed with the regulator. The Group is on
track to meet the 2009 commitment of
5 per cent. |
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Migrant and foreign labour
| Has the Group subscribed to
government and industry agreements
to ensure non-discrimination against
foreign migrant labour? |
Group policy remains not to discriminate
against foreign/migrant labour but to recruit
locally where possible. |
Increase of local labour portion of South
African workforce. |
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Mine community and development
| Has the Group co-operated in the
formulation of integrated development
plans and is it co-operating with
government in implementing these
plans in communities where mining
takes place and in labour sending
areas? |
The Gold Fields Foundation budgeted as
per established formula for allocation to
four key categories: Education, Community
Development, Environment and Health.
The allocated budget was R15 million. |
Maintain capacity to develop projects
through multi-stakeholder consultation
and align them with the integrated
development plans of the relevant
communities. |
| Has the Group engaged with local
mining communities and those in
labour sending areas? |
There has been ongoing engagement with
public and private sector stakeholders for
both our mine host communities and
labour source communities.
All approved social and labour plans are
being implemented at the operations in
consultation with the appropriate
stakeholders. |
Gold Fields will maintain ongoing
engagement with public and private
sector stakeholders for its communities
and labour source communities. This
engagement will be in accordance with
the AA 1000 standard.
The contributions of the Gold Fields
Foundation to the communities and
labour source communities will be
maintained according to the formula.
However, actual funding will depend on
project sustainability. |
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Housing and living conditions
| Regarding Group-provided housing,
has the mine, in consultation with
stakeholders, established measures
for improving housing, including the
upgrading of hostels to family units
and promotion of home ownership
options among employees? |
The Group has commenced with the
construction of 292 houses for family
accommodation in the West Wits region.
The programme to upgrade hostels
continued and 508 rooms were completed
during F2008.
Involvement of organised labour and other
key stakeholders has been fundamental to
the above success. |
The construction of the 292 houses is
aimed for completion by November 2008.
There are 299 hostel rooms ring fenced as
a separate project due for completion by
end of December 2008 as part of the
508 completed rooms to meet F2008
target of 807 upgraded rooms.
For F2009 the target for hostels upgrade is
1 001 rooms. |
| Have measures been established to
improve the nutrition of mine
employees? What has been done to
improve nutrition? |
There has been an improvement of nutrition
in 2008 by setting up a separate Food &
Beverage Department that is independent
from the accommodation. Specialists have
been employed and have brought about a
number of changes with the support of a
dietician for quality assurance. |
There will be intensive training and
development of the cooks to improve the
serving, food preparation methods and to
eliminate wastage.
Menus will be standardised. Buying
and food preparation and batching will
be centralised. |
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Procurement
| Have current levels of procurement
from HDSA companies in terms of
capital goods, consumables and
services been identified? |
By the end of F2008, HDSA spend
accounted for R1.8 billion, 40 per cent of
total working cost and capital materials
spend. This includes South Deep where no
Social and Labour Plan targets are set as
yet. South Deep is a trackless mine and
majority of spend is with foreign countries.
If South Deep is excluded, our spend is at
44 per cent. We have exceeded our Mining
Charter target of having more than 40 per
cent of our working cost and capital
materials spend provided by accredited
HDSA suppliers |
Achieve a more than 40 per cent HDSA
procurement spend by 2009. Although
targets have been exceeded, we will be
pushing the limit to 45 per cent as an
internal target. We will be focusing on SME
development and will be offering more
advanced courses for learners that have
attended the basic training courses. |
| Has a commitment been made to a
progression of procurement from
HDSA companies over a three to five
year time frame in terms of capital
goods, consumables and services and
to what extent has this been
implemented? |
The spend has increased to 40 per cent
which is above target, up from 9.7 per cent
in 2003, on the back of steadily increasing
procurement spend in real terms. |
Maintain and improve the HDSA
procurement spend for 2009. HDSA
supplier screening and accreditation
systems to remain in place to ensure
accuracy of vendor information. There will
be a major drive to achieve Social and
Labour Plan targets and improve on them
for 2009. The challenges for 2009 will be to
improve South Deep HDSA spend. |
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Ownership and joint ventures
| What is being done to ensure the Group
achieves 15 per cent HDSA participation
in terms of ownership of equity or
attributable units of production by 2009
and 26 per cent by 2014? |
Gold Fields complied with the 2009 target
by completing a transaction with
Mvelaphanda Resources Limited, effective
1 May 2004, in terms of which
Mvelaphanda Resources, through its
wholly-owned subsidiary, Mvela, will acquire
a 15 per cent interest in Gold Fields’ South
African gold mining assets within five years
for a cash consideration of R4.1 billion. On
17 March 2008 Gold Fields Limited and
Mvelaphanda Resources Limited agreed
that Mvela would receive a fixed 50 million
Gold Fields shares if and when Mvela’s
future stake of 15 per cent in Gold Fields
South African mining assets would be
exchanged at the instance of either party,
for shares in Gold Fields Limited. |
Plan for 2014 target through various
initiatives. |
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Beneficiation
| Has the current level of beneficiation
been identified? |
Gold Fields, together with AngloGold
Ashanti, SARB and Standard Bank,
operates a gold advance scheme in order
to facilitate the provision of secured and
cost effective advances of gold to the
South African jewellery manufacturing
industry. |
Continue to support the Gold Advance
Scheme. |
| Has the baseline level of beneficiation
been identified and has the company
noted the extent by which this will have
to increase to qualify for an offset? |
The scheme mentioned above involves
facilitating advances of gold by advancing
collateral support in the form of guarantees.
A Beneficiation Act has not yet been
promulgated. Gold Fields continues to
engage the Department of Minerals and
Energy to determine the criteria to qualify
for an offset. |
Growth in this sector can only be achieved
through additional development of the
South African jewellery design and
manufacturing industry and the
development of additional industrial
applications for gold. |
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Reporting
| Does the company report annually
on progress made in meeting its
commitments? |
As part of our annual report we report on
progress made in terms of the guidelines
set out by the Mining Charter Scorecard
and using the evolving Global Reporting
Initiative guidelines in the compilation of our
report. |
To continue to report in accordance with
the established format. |
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