Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited covers the month of October 2009, with the report dated October 21, 2009. Gold Fields is a major global gold producer with operations in South Africa, Ghana, Australia, and Peru. The company is listed on the JSE, NYSE, DIFX, Euronext Brussels, and SWX.
Key Financial Metrics
The filing text does not provide specific financial data for revenue, profit, cash flow, margins, debt, or liquidity for the reporting period. The document focuses exclusively on operational and environmental accreditation milestones.
General production and reserve data provided in the "About Gold Fields" section includes:
- Attributable production: 3.6 million ounces per annum (based on the annualized run rate for the fourth quarter of F2009).
- Total attributable Mineral Reserves: 81 million ounces.
- Total Mineral Resources: 271 million ounces.
Material Changes
The primary material change reported is the achievement of full International Cyanide Management Code (Cyanide Code) accreditation for all eligible Gold Fields operations. This makes Gold Fields the first mining group registered as a signatory with the International Cyanide Management Institute (ICMI) to achieve this status across all eligible sites.
- New Accreditations: Kloof mine and Driefontein mine (South Africa) achieved full accreditation.
- Previous Accreditations: Beatrix (Feb 2009), South Deep (Dec 2008), Tarkwa (June 2008), and Damang (May 2008).
- Upcoming: Agnew mine (Australia) achieved substantial accreditation in June 2009 and expects full accreditation in December 2009.
- Exemption: Cerro Corona mine (Peru) does not require accreditation as it does not use large amounts of cyanide.
Guidance, Outlook, and Management Commentary
CEO Nick Holland stated that the company has achieved the objective set in November 2005 for all operations to be ICMI accredited. The filing notes that seven of the eight eligible mines have achieved full compliance. Management emphasizes that this support for the ICMI is consistent with the Group's Sustainable Development Framework and aligns with best practices recognized by the World Gold Council, the Council for Responsible Jewellery Practice, the International Finance Corporation, and the G8 Group of Nations.
The filing does not contain specific financial guidance, risk factors, or contingencies related to financial performance.
Important Facts for Investor Verification
- Verify the operational status and production output of the newly accredited Kloof and Driefontein mines.
- Confirm the timeline for the Agnew mine to achieve full Cyanide Code accreditation in December 2009.
- Review the company's most recent quarterly or annual financial report (Form 20-F) for actual revenue, earnings, and cash flow figures, as this 6-K contains no financial statements.
- Assess the impact of the 3.6 million ounce annualized production run rate on current market valuations.