Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited covers the month of June 2008, specifically dated June 25, 2008. Gold Fields is a major global gold producer with operations primarily in South Africa, employing approximately 47,000 permanent staff. The company is listed on the JSE, NYSE, and DIFX.
Key Financial Metrics
The filing text does not provide specific financial values for revenue, profit, cash flow, margins, debt, or liquidity for this period. The document focuses on operational milestones rather than financial performance data.
- Production Capacity: Attributable production approaching four million ounces per annum.
- Reserves: Total attributable ore reserves of 92 million ounces.
- Resources: Mineral resources of 252 million ounces.
Material Changes and Operational Highlights
The primary material event reported is a significant safety milestone at the Kloof Gold Mine near Westonaria, South Africa.
- Safety Milestone: Kloof Mine achieved one million fatality-free shifts, a feat accomplished over 51 working days.
- Operational Context: The mine operates at depths of up to 3 kilometers and employs approximately 15,000 people.
- Historical Comparison: The previous one million fatality-free shifts at Kloof were achieved on April 4, 2006.
Management Commentary, Risks, and Outlook
Management emphasized that safety remains the number one priority. CEO Nick Holland noted that this achievement demonstrates that safe working is possible at deep-level gold mines and provides a boost to safety efforts following unfortunate accidents earlier in the year.
- Outlook: Management expressed a firm belief that the goal of zero fatalities across all Gold Fields mines can be realized.
- Current Actions: The company is conducting a comprehensive audit of safety practices and performance at its South African mines.
- Risks: The filing implicitly acknowledges the risk of fatal accidents in deep-level mining, referencing "very unfortunate accidents" earlier in the year.
Key Facts for Investor Verification
- Verify the specific financial impact of the safety audit and any operational downtime associated with earlier accidents mentioned by management.
- Confirm the current status of the comprehensive safety audit across all South African operations.
- Review subsequent quarterly reports for actual production figures against the stated capacity of four million ounces per annum.
- Monitor safety statistics to determine if the "zero fatalities" goal is being met across other operations beyond Kloof.