Sector: Basic Materials
The company is available at Interactive Brokers
Gold Fields Limited (JSE:GFI) is a globally diversified gold producer with nine operating mines in Australia, Peru, South Africa and West Africa (including the Asanko JV), as well as one project in Chile. Gold Field's operations are organised into mining regions and the Netherlands Group:
Americas region
Gold Fields 2019 presence in the Americas region consists of the Cerro Corona mine in Peru and the Salares Norte project in Chile
Australia region
Gold Fields 2019 mining assets in the Australia region (GFA) include a 100% interest in the St Ives, Agnew and Granny Smith mines and a 50:50 interest in the Gruyere JV project with Gold Road Resources located in the Yilgarn area of Western Australia.
South Africa region
A material restructuring at South Deep was announced in August 2018, aimed at reducing the workforce and mobile equipment levels in alignment with consolidating mining activity to increase focus and to recalibrate the cost base with anticipated levels of production.
West Africa region
Tarkwa has now fully transitioned to contractor mining and is well positioned to deliver sustained value, while the best long-term option for Damang to create future cash-flow is being realised through the implementation of the Damang Reinvestment project.
Netherlands Group
The Netherlands Group of companies serves a vital role in Gold Fields 2019 corporate development and exploration strategy by providing financing and strategic support to various ventures undertaken. The Netherlands Group also acts as a holding company for many of the exploration ventures in the Gold Fields Group.
Semi-Annual values ($m)
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FCF ($m)
Net Debt / Cash and Equivalents ($m)
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Potential dynamics
South Africa plans to lift the licensing threshold for small-scale power generation projects to 10MW from 1MW, a boost to firms anxious to curb their reliance on the ailing Eskom, but industry experts had hoped for more.
2021-04-26 06:19 +02:00
Even with the 15.63% tariff hike to be implemented on 1 April, Eskom considers its electricity tariffs to be far from cost-reflective. Yet further big price hikes will mean alternative sources of energy become more viable.
2021-02-22 17:40 +02:00
South African shares are about to round off their strongest quarter in almost two decades, and the influence of the coronavirus pandemic is clear to see in the shares most responsible for driving the market higher.
2020-06-30 04:02 +02:00JSE:AGL JSE:NPN JSE:SOL JSE:GFI JSE:ANG JSE:AVI JSE:JSE JSE:ETO
Unprecedented demand for online services and entertainment during Covid-19 pandemic lockdowns, along with a scramble for haven investments, have helped set South African stocks on course for a record month.
2020-04-30 07:39 +02:00
A little more than 100 years ago, Naspers was created by white South Africans to produce a Dutch-language newspaper. Now the continent’s biggest company, Naspers just named its first woman, and first black person, as CEO.
2019-07-04 06:30 +02:00JSE:PRX JSE:NPN JSE:VOD JSE:GFI JSE:BVT JSE:AVI JSE:JSE JSE:EMN JSE:EMH JSE:ISA
(Reuters) -South Africa`s Gold Fields has appointed Michael Fraser as CEO from January, saying it expects no change in its strategy to find new gold deposits, build mines outside its home country and grow the company in the Americas region.
2023-10-09
Gold Fields has appointed Michael Fraser as CEO from January to drive the South African miner`s strategy to find new gold deposits outside of its home country and grow the company in the Americas region.
2023-10-09
South Africa`s Sibanye Stillwater plans to bring in a Chinese investor to form a partnership if it wins its bid to buy Zambia`s Mopani Copper Mines, its Chief Executive Neal Froneman told Reuters.
2023-08-29South Africa`s mining output has fallen further below pre-pandemic levels due to persistent electricity outages and rail disruptions, industry data shows, threatening dividend payouts to investors.
2023-08-07South Africa`s Gold Fields said on Tuesday it was setting up a joint venture with Osisko Mining to develop the Windfall gold mining project in Canada.
2023-05-02(Reuters) -Gold mining sector mergers and acquisitions are inevitable due to the need to replace depleting mineral reserves, Harmony Gold Chief Executive Peter Steenkamp said on Wednesday.
2023-03-01(Reuters) -South Africa`s Gold Fields` on Thursday announced a three-month delay to its Salares Notre project in Chile which will hit its 2023 gold production, sending its shares lower.
2023-02-23
Gold Fields still interested in M&A after Yamana disappointment
2023-02-23South Africa`s Gold Fields on Wednesday said it expects its full-year profit to rise as much as 22% helped by a $202 million break fee it received after its deal to buy Canada`s Yamana Gold collapsed last year.
2023-02-15South Africa-listed gold miner Gold Fields on Thursday said it is disputing tax payments demanded by the Ghana Revenue Authority (GRA) after an audit and is working with the tax authority to resolve the matter.
2023-02-02
JOHANNESBURG (Reuters) -Outgoing Gold Fields Ltd CEO Chris Griffith decided to step down as he felt responsible for the South African miner`s failed bid to acquire Canada`s Yamana Gold, the company`s chairman said on Tuesday.
2022-12-13
Gold Fields Ltd said on Tuesday its Chief Executive Officer Chris Griffith will step down from his role effective Dec. 31, a month after the South African gold miner`s bid to acquire Canada`s Yamana Gold Inc fell through.
2022-12-13
South Africa`s Gold Fields on Tuesday said it has ended its bid to acquire Yamana Gold Inc after the Canadian miner backed a $4.8 billion takeover bid from Agnico Eagle and Pan American Silver Corp .
2022-11-08(Reuters) -South Africa`s Gold Fields on Tuesday said it has ended its bid to acquire Yamana Gold Inc after the Canadian miner backed a $4.8 billion takeover bid from Agnico Eagle and Pan American Silver Corp.
2022-11-08
(Reuters) -Yamana Gold Inc backed a $4.8 billion takeover bid from Agnico Eagle and Pan American Silver Corp on Tuesday which trumped an offer from South Africa`s Gold Fields, paving the way to an all-Canadian deal.
2022-11-08
Yamana Gold Inc has accepted a $4.8 billion takeover bid from Agnico Eagle Mines and Pan American Silver Corp, spurning a previous offer from South Africa`s Gold Fields, it said on Tuesday.
2022-11-08JOHANNESBURG (Reuters) -The board of South Africa`s Gold Fields will not change its offer for Yamana Gold after a surprise rival bid from Agnico Eagle and Pan American, it said on Monday.
2022-11-07An independent evaluation has put Yamana Gold`s mineral assets at between $6 billion and $8 billion, in line with South Africa`s Gold Fields` initial offer price for the Canadian miner, circulars issued late Friday showed.
2022-10-22
A new solar power plant at Gold Fields` South Deep mine near Johannesburg, will supply 24% of its electricity, the South African miner said on Thursday, adding they are also exploring wind power as companies across the country seek to curb their reliance on state power utility Eskom.
2022-10-13South African gold miner Sibanye Stillwater is focused on operational stability and containing costs as market conditions are not conducive for gold mergers and acquisitions, Chief Executive Neal Froneman said on Thursday.
2022-08-11
* Floods to cut 60,000oz production from 2022 production (Recasts with CEO comments on M&A)
2022-08-11
* CEO says consolidation of gold industry only starting (Adds shareholder vote date, share price)
2022-07-11
* CEO says consolidation of gold industry only starting (Adds details of investor call, analyst quote)
2022-07-11(Reuters) -South Africa`s Gold Fields on Monday promised higher dividends and a Toronto Stock Exchange (TSX) listing to sweeten its proposed takeover of Canada`s Yamana Gold .
2022-07-11
* CEO says consolidation of gold industry only starting (Adds CEO quotes)
2022-07-11(Reuters) -South Africa`s Gold Fields on Monday announced plans to seek a listing on the Toronto Stock Exchange (TSX) if its proposed takeover of Canada`s Yamana Gold is successful, in a bid to win over investors, some of whom had criticised the deal.
2022-07-11
South Africa`s Gold Fields on Monday announced plans to seek a listing on the Toronto Stock Exchange (TSX) if its proposed takeover of Canada`s Yamana Gold is successful, in a bid to win over investors, some of whom had criticised the deal.
2022-07-11
A top-10 investor in South Africa`s Gold Fields on Friday urged the miner to cancel its planned takeover of Canada-based Yamana Gold, saying the $6.7 billion transaction was expensive and did not guarantee growth and profitability.
2022-06-10
The South African rand steadied on Wednesday, supported by an upbeat manufacturing survey that helped it hold its ground against a stronger dollar on global markets.
2022-06-01JOHANNESBURG (Reuters) -The South African rand slipped on Tuesday, as the dollar bounced back supported by demand for safe havens over ongoing inflation concerns.
2022-05-31
(Reuters) -South Africa`s Gold Fields Ltd`s is set to become one of the four biggest gold miners in the world after agreeing to acquire Canada-based Yamana Gold in a $6.7 billion all-share deal, the biggest in the region in years.
2022-05-31Gold Fields’ long history is a present-day headache in more ways than one. The $9 billion South African bullion producer is reluctant to talk about its roots, which trace back to its founding by rapacious British imperialist Cecil Rhodes in 1887. These days the company has only one set of operations in South Africa. But Chief Executive Chris Griffith has to deal with the problem of ageing mines. That explains why he is paying up for Canadian rival Yamana Gold
2022-05-31
* Yamana part owns Canada`s biggest gold mine (Updates share price moves, recasts)
2022-05-31Surging inflation is eating into gold miner Gold Fields` contingency cost buffer for its Salares Norte project in Chile, Chief Executive Officer Chris Griffith said on Monday, adding that the South Africa-listed company is seeing at least 10% inflation in the regions where it operates.
2022-05-09
* Annual output to top 2.7 mln ounces by 2024 (Adds CEO interview comments, details)
2022-02-17
JOHANNESBURG (Reuters) -Gold Fields Ltd recorded a 9% increase in gold production for the third quarter that ended September from a year earlier, but its cost of production increased, the South Africa-based miner said on Thursday.
2021-11-11South African miner Gold Fields is considering leaving its Johannesburg listing, though a move would not eliminate its share price discount compared to global peers, chief executive Chris Griffith said on Thursday.
2021-08-26
* CEO says no change to 2021 output, cost guidance (Adds conference call, analyst comment)
2021-08-19
South Africa will exempt power generation projects of up to 100 megawatts from licensing requirements, increasing the threshold 10-fold as it looks to urgently stabilise a national grid hard hit by power cuts, President Cyril Ramaphosa said on Thursday.
2021-06-10South Africa`s rand weakened early on Monday as fears of a new wave of COVID-19 infections in Asia dampened demand for emerging market currencies.
2021-05-17South African miner Gold Fields posted steady first-quarter output on Thursday and approved two projects worth $90 million, kicking off big capital spending plans for 2021.
2021-05-06South Africa plans to lift the licensing threshold for small-scale power generation projects to 10 megawatts (MW) from 1 MW, a boost to firms anxious to curb their reliance on ailing state utility Eskom, but industry experts had hoped for more.
2021-04-24
South Africa plans to lift the licensing threshold for small-scale power generation projects to 10 megawatts (MW) from 1 MW, a government notice showed on Friday, giving a boost to firms anxious to curb their reliance on ailing state utility Eskom.
2021-04-23
South Africa`s Anglogold Ashanti does not need to pursue mergers and won`t add scale for its own sake, its interim chief executive said on Wednesday, dampening speculation it could take part in further deals in the sector.
2021-03-31Sibanye-Stillwater should merge with peers Gold Fields and AngloGold Ashanti to create a gold mining leader which would beat Newmont to the top spot, the miner`s CEO Neal Froneman told South African newspaper Business Day on Monday.
2021-03-08
South Africa`s energy regulator on Thursday approved a power generation licence for a large solar plant at Gold Fields` South Deep mine, a long-awaited breakthrough for miners desperate to curb their reliance on ailing utility Eskom.
2021-02-25South African miner Gold Fields Ltd posted a more than four-fold jump in annual earnings on Thursday on the back of higher bullion prices and said it is preparing for substantial capital expenditure in 2021.
2021-02-18
South Africa`s mining minister on Tuesday accused Sibanye-Stillwater of breaching regulations on Black ownership targets at its gold operations and said the miner had stolen its compliance rating.
2020-11-03
South African miner Gold Fields reported a big jump in half-year earnings on Thursday, benefiting from a surge in the price of gold.
2020-08-20South African gold miners are looking to cut debt and boost dividends as bullion hits record highs, with analysts and fund managers predicting a sectoral growth spurt over the next two years amid rising investor interest.
2020-08-07JOHANNESBURG - World-leading renewables companies are lining up to invest in South Africa`s energy sector and help remedy a chronic generation shortfall that pushed the continent`s most advanced economy into recession even before the COVID-19 pandemic struck.
2020-06-04
South Africa`s rand rallied on Thursday after the country`s central bank cut its main lending rate by 50 basis points, while stocks fell on concerns over the long-term impact of the new coronavirus and simmering U.S.-China tensions.
2020-05-21
South Africa`s rand firmed on Tuesday, shaking off a batch of poor domestic data recently, as moves by several countries to ease coronavirus lockdowns lifted global risk appetite.
2020-05-05
The South African rand firmed on Tuesday as risk sentiment globally improved, spurred by stimulus measures and talk by leaders around the world about easing lockdown measures.
2020-04-28
South African mining companies are setting up shared quarantine facilities for miners testing positive for COVID-19 and are discussing other ways to cooperate, as the vital national industry gradually restarts operations halted since late March.
2020-04-28Gold Fields hopes to reach full production at its only gold mine in South Africa by the end of May, its chief executive said on Thursday, as it forecast limited impact to its global output from the coronavirus pandemic.
2020-04-23
South African stocks gained with global markets on Thursday, lifted by a $2 trillion U.S. coronavirus relief package and a higher gold price, while the rand fell ahead of a lockdown.
2020-03-26
South African miner Gold Fields has wanted to build a solar plant at its South Deep gold mine outside Johannesburg for more than three years.
2020-02-07
South African miner Gold Fields Ltd has hired investment bank RBC Capital Markets to explore the sale of a 30% stake in its gold project in northern Chile, two sources said.
2020-01-21
Mines across South Africa shut down on Tuesday after flash flooding triggered the most severe power blackouts in more than a decade, threatening a key export sector in a further blow to the country`s already slowing economy.
2019-12-10JSE:AGL JSE:AMS JSE:S32 JSE:KIO JSE:GFI JSE:IMP JSE:ANG JSE:AVI JSE:MPT
South Africa`s rand tumbled to a two-week low on Tuesday, along with bonds and stocks, as a deepening power crisis and the spreading impact on business operations rattled investor sentiment.
2019-12-10
South Africa`s rand weakened on Friday, after nationwide electricity blackouts overnight by ailing state utility Eskom spooked investors and reignited worries about the economy.
2019-11-08
* Gold stocks gain from risk-off sentiment (Updates stocks, adds trader comment)
2019-08-14
South Africa`s rand weakened on Friday, giving back some of the big gains from the previous session as expectations of an aggressive interest rate cut by the Federal Reserve cooled, prompting investors to pocket end-of-week profits.
2019-07-19
* Stocks lifted by dovish Fed (Adds latest prices, analyst comments)
2019-06-20
South Africa`s gold and platinum mines will shed around 90,000 jobs in the next three years as above-inflation electricity price increases by power utility Eskom add to already soaring operating costs, an industry body said on Monday.
2019-03-25
South Africa`s largest labour union group, with more than a million and a half members, said on Wednesday it would stage a nationwide strike on Feb. 13 over large-scale layoffs at ailing state-owned firms and at private companies.
2019-01-30
South Africa`s rand firmed on Tuesday, helped by a fragile dollar as markets counted down to a crucial U.S. Federal Reserve meeting amid speculation it will soon hit the pause button to its monetary tightening cycle.
2018-12-18Gold Fields said on Wednesday it had offered union members striking at its South Deep mine in South Africa an increased severance package to try to resolve the dispute which has halted production.
2018-11-28
