Business Context and Reporting Period
This Form 6-K filing by Gold Fields Limited covers the month of April 2008, with the report dated April 4, 2008. The company is a major unhedged gold producer with operations in South Africa, Ghana, and Australia, and a developing mine in Peru. The filing primarily announces significant executive management changes within the South African operations.
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. However, the following operational metrics are disclosed:
- Annual Production: More than four million ounces of gold per annum.
- Operational Footprint: Eight operating mines with a ninth (Cerro Corona, Peru) expected to commence production by mid-2008 at an initial rate of approximately 400,000 gold equivalent ounces per annum.
- Reserves and Resources: Total attributable ore reserves of 92 million ounces and mineral resources of 252 million ounces.
- Workforce: Approximately 53,000 permanent employees.
Material Changes
The primary material change reported is a restructuring of senior leadership roles effective May 1, 2008:
- Vishnu Pillay: Promoted to Executive Vice President and Head of South African Operations, replacing Terence Goodlace.
- Terence Goodlace: Promoted to Chief Operating Officer for the Group and will join the Executive Committee.
- Peter Turner: Moving from Kloof Gold Mine to Driefontein Gold Mine as Vice President and Head of Operations.
- Rodney Hart: Promoted to Vice President and Head of Operations of Kloof Gold Mine.
- Stuart Allan: Assumed responsibility for the South Deep Gold Mine as Vice President and Head of Operations.
Outlook, Risks, and Management Commentary
Management commentary emphasizes continuity in South African operations, noting that Vishnu Pillay has been with Gold Fields for 22 years, with a brief interim period at the Council for Scientific and Industrial Research (CSIR). The outlook includes the anticipated start of production at the Cerro Corona mine in Peru by mid-2008. The filing does not explicitly detail new risks, contingencies, or unusual items beyond the standard operational context.
Investor Verification Checklist
- Verify the effective date of the new executive appointments (May 1, 2008).
- Confirm the timeline for the commencement of production at the Cerro Corona mine in Peru.
- Review subsequent filings for the first financial results reflecting the new management structure.
- Monitor the integration of the new leadership team at Driefontein, Kloof, and South Deep mines.