Company type | Public |
---|---|
JSE: GFI NYSE: GFI (ADR) | |
Industry | Gold mining |
Founded | 1887 (as Gold Fields of South Africa) 1998 (merger with Gencor) |
Headquarters | Johannesburg, South Africa |
Number of locations | South Africa (one mine), Ghana (two mines), Australia (four mines), Peru (one mine) |
Key people | Yunus Suleman, Chairperson [1] Mike Fraser, CEO Paul Schmidt, CFO |
Products | Gold |
Revenue | $ 4.286 billion (FY 2022) [2] |
$ 721.7 million (FY 2022) [2] | |
Number of employees | 17,611 (FY 2018) [3] |
Website | www |
Gold Fields Limited (formerly The Gold Fields of South Africa) is one of the world's largest gold mining firms. Headquartered in Johannesburg, South Africa, the company is listed on both the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE). The firm was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. The company traces its roots back to 1887, when Cecil Rhodes founded Gold Fields of South Africa Limited. As of 2019, Gold Fields was the world's eighth-largest producer of gold. [4]
The company owns and operates mines in South Africa, Ghana, Australia and Peru. Growth efforts are focused mainly on the regions where it currently operates and are mainly driven through brownfields exploration on its existing land positions and through mergers and acquisitions in the same regions.
In 2012, Gold Fields Limited unbundled its subsidiary, GFI Mining South Africa Proprietary Limited ("GFIMSA"), which was then renamed Sibanye Gold Limited ("Sibanye Gold"), and consisted of the KDC (formerly Kloof) and Beatrix mines, as well as an array of support service entities in South Africa. [5] [6] The three mines transferred from Gold Fields to Sibanye, later Sibanye-Stillwater, were:
In October 2001 a tailings dam ruptured at the company's Tarkwa Gold Mine in Ghana resulting in thousands of cubic metres of mine waste water spilling into the Asuman River and resulting in the death of significant marine life. [7] While acknowledging the cyanide spill the company stated at the time that the spill did not affect human health or safety. [8]
A further incident occurred in 2003 when water from an abandoned underground mine shaft, again at the company's Tarkwa Gold Mine, was identified as having seeped into the Asuman River sparking further fears of contamination. [9]
In July 2012 the company was directed by the Ghana Environmental Protection Agency to halt a gold-recovery plant at the Tarkwa Gold Mine because water discharged from the site required additional treatment. [10]
Lonmin plc, formerly Lonrho plc, was a British producer of platinum group metals operating in the Bushveld Complex of South Africa. It was listed on the London Stock Exchange. Its registered office was in London, and its operational headquarters were in Johannesburg, South Africa.
Tarkwa is a town and is the capital of Tarkwa-Nsuaem Municipal district, a district in the Western Region southwest of South Ghana. Frequently dubbed as the "Golden City" by its indigenous populace, the region is characterized by a rich tapestry of Fante communities, among which include Efuanta, Tamso, Aboso, Akoon, Nzemaline, and Kwabedu.
Driefontein is the Driefontein Mine in the West Witwatersrand Basin mining field. The West Wits field was discovered in 1931 and commenced operations with Venterspost Gold Mine in 1939. In 1952, the West Driefontein mine is opened. In 1968, Kloof mine commences operations. In 1972, East Driefontein opens. In 1981, consolidation starts. In 1999, Gold Fields took control of the combined East and West Driefontein mines and merged them starting 2000 with Venterspost, Libanon, Leuudoorn and Kloof mines. In 2010, the current Kloof-Driefontein Complex, comprising KDC East and KDC West, is formed.
Prestea is a town in the Western Region, in southwest Ghana and about 50 km north of the coast of the Atlantic Ocean. It lies on the west bank of the Ankobra River, about 60 mi (100 km) northwest of Cape coast. The town is part of the Prestea-Huni Valley District. Prestea is the forty-sixth most populous in Ghana, in terms of population, with a population of 35,760 people. A railway line connects Prestea to Tarkwa and beyond to the coastal city of Sekondi-Takoradi.
Stillwater Mining Company is a palladium and platinum mining company with headquarters located at Littleton, Colorado, United States. It is the only palladium and platinum producer in the USA. The only other North America based palladium/platinum producer is North American Palladium, located in Canada. In 2017 it was acquired by Sibanye Gold Limited, who then began trading as Sibanye-Stillwater
The Mining industry of Ghana accounts for 5% of the country's GDP and minerals make up 37% of total exports. Gold contributes over 90% of the total mineral exports. Thus, the main focus of Ghana's mining and minerals development industry remains focused on gold. Ghana is Africa's largest gold producer, producing 80.5 t in 2008. Ghana is also a major producer of bauxite, manganese and diamonds. Ghana has 20 large-scale mining companies producing gold, diamonds, bauxite and manganese; over 300 registered small scale mining groups; and 90 mine support service companies. Other mineral commodities produced in the country are natural gas, petroleum, salt, and silver.
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Iamgold Corporation is a Canadian company that owns and operates gold mines in Burkina Faso and Canada. Headquartered in Toronto, the company was incorporated in 1990, and went public on the Toronto Stock Exchange in 1996, with additional shares being listed on the New York Stock Exchange beginning in 2005. The company formerly owned or had stakes in the Sadiola and Yatela gold mines in Mali, the Mupane gold mine in Botswana, the Niobec niobium mine in Quebec, as well as a royalty in the Diavik Diamond Mine.
Webber Wentzel is an African law firm headquartered in Johannesburg, South Africa. The firm operates in a collaborative alliance with global law firm, Linklaters.
North American Palladium Ltd. is a former Canadian mining company that operated between 1968 and 2019 and that since 1993 operated the Lac des Iles mine in the Lac des Îles igneous complex of the Thunder Bay District of Ontario. The company primarily mined and explored for palladium but also for gold. Platinum, silver, nickel, and copper are mined as by-products. The company was listed on the Toronto Stock Exchange but was acquired by Impala Platinum in 2019.
The Tarkwa mine is one of the largest gold mines in the Ghana and in the world. The mine is located in the south-west of the country in the Western Region. The mine has estimated reserves of 15.1 million oz of gold.
The Ahafo mine is one of the largest gold mines in the Republic of Ghana and in the world. The mine is located in the center of the country in Brong-Ahafo Region. The mine has estimated reserves of 17 million ounces of gold.
The Driefontein mine is a large mine located in the northern part of South Africa in Gauteng. Driefontein is an important gold producer and represents one of the largest uranium reserves in South Africa having estimated reserves of 238 million tonnes of ore grading 0.0053% uranium.
The KDC mine, formerly the Kloof mine, is a large mine located in the northern part of South Africa in Gauteng, near Carletonville, and represents one of the largest uranium reserves in South Africa having estimated reserves of 256.4 million tonnes of ore grading 0.0036% uranium.
Sibanye-Stillwater is a multinational mining and metals processing Group with a diverse portfolio of mining and processing operations and projects and investments across five continents. The Group is also one of the foremost global PGM auto catalytic recyclers and has interests in leading mine tailings retreatment operations.
Simmer and Jack Mines Ltd is a South African company which was founded in 1887 by the German August Simmer and Scotsman John Jack, shortly thereafter selling the majority shareholding to Gold Fields of South Africa Ltd. The company was listed until 2013 at the Johannesburg Stock Exchange.
The Free State Gold Rush was a gold rush in Free State, South Africa. It began after the end of World War II, even though gold had been discovered in the area around the year 1934. It drove major development in the region until the mid–to–late 1980s as part of the mineral revolution in South Africa.
Matthews Sello Moloko is a South African businessman, banker and corporate executive, who serves as group chairman of Absa Group, a large pan-African financial services group, with subsidiaries in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania, Uganda and Zambia. He concurrently serves as the chairman and non-executive director of Absa Bank Limited, the South African subsidiary and the largest of the subsidiary banks of the Absa Group. He began his tenure at Absa on 1 April 2022. He is also the chairman of Telkom, the South African telecommunications conglomerate, since March 2019.
The Castle Wind Farm is a privately owned 89 megawatt wind farm under construction in South Africa. The renewable energy infrastructure development project is owned and under development by a consortium comprising two South African businesses; (a) African Clean Energy Developments (Pty) Limited (“ACED”), a renewable energy development company headquartered in Cape Town and (b) Reatile Group, a Johannesburg-headquartered, 100 percent black-owned investment company which focuses on energy, petrochemicals and industry. The power generated at this wind farm is intended for sale to Sibanye-Stillwater, a Johannesburg-based multinational mining conglomerate. The power is intended for use by Sibanye-Stillwater in its mining operations in South Africa.
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