Gold Fields Operational
2021
Update September Quarter
14
* Excludes surface material at South Deep.
Certain forward-looking statements
This report contains forward-looking statements within the meaning of
Section 27A of the U.S. Securities Act of 1933 (the Securities Act) and Section
21E of the U.S.
Securities Exchange Act of 1934 (the Exchange Act) with respect to Gold Fields’ financial
condition, results of operations, business
strategies, operating efficiencies, competitive
position, growth opportunities for existing services, plans and objectives of management, markets
for
stock and other matters.
These forward-looking statements, including, among others, those
relating to the future business prospects, revenues, income and production and
operational
guidance of Gold Fields, wherever they may occur in this report, are necessarily estimates
reflecting the best judgement of the senior
management of Gold Fields and involve a number of
risks and uncertainties that could cause actual results to differ materially from those suggested
by the forward-looking statements. As a consequence, these forward-looking statements should be
considered in light of various important factors,
including those set forth in this report.
Important factors that could cause actual results to differ materially from estimates or projections
contained in
the forward-looking statements include, without limitation:
• changes in
the market price of gold, and to a lesser extent copper and silver;
• material changes in
the value of Rand and non-U.S. Dollar currencies;
• difficulties, operational delays, cost
pressures and impact from labour relations following its restructuring at the South Deep operation
in South
Africa;
• the ability of the Group to comply with requirements that it
provide benefits to affected communities;
• the effect of relevant government regulations,
particularly labour, environmental, tax, royalty, health and safety, water, regulations and
potential new
legislation affecting mining and mineral rights;
• court decisions affecting the South African mining
industry, including, without limitation, regarding the interpretation of mineral rights legislation and
the treatment of health and safety claims;
• the challenges associated with replacing annual
mineral reserve and resource depletion as well as growing its reserve and resource base to extend
the life of operations;
• the ability to achieve anticipated efficiencies and other cost
savings in connection with past and future acquisitions or joint ventures;
• the success
of the Group’s business strategy, development activities and other initiatives, particularly
at the Salares Norte project;
• changes in technical and economic assumptions underlying
Gold Fields’ mineral reserve estimates;
• supply chain shortages and increases in
the prices of production imports;
• changes in health and safety regulations that could
lead to claims or liability for regulatory breaches;
• the occurrence of operational
disruptions such as stoppages related to environmental and industrial accidents and pollution
incidents;
• loss of senior management or inability to hire or retain sufficiently skilled
employees or sufficient representation among Historically Disadvantaged
Persons in management positions;
• power cost increases as well as power stoppages, fluctuations
and usage constraints;
• regulation of greenhouse gas emissions and climate change;
• high debt levels posing a risk to viability and making the Group more vulnerable to
adverse economic and competitive conditions;
• the ability of the Group to protect its
information technology and communication systems and the personal data it retains as well as the
failure of
such systems;
• the ability to obtain, renew and comply with, water use licences
and water quality discharge standards;
• the occurrence of future acid mine drainage
related pollution;
• geotechnical challenges due to the ageing of certain mines and a
trend toward mining deeper pits and more complex, often deeper underground,
deposits;
• economic, political or social instability in the countries where
Gold Fields operates;
• downgrades in the credit rating of South Africa and its impact on
Gold Fields’ ability to secure financing;
• reliance on outside contractors to
conduct some of its operations;
• ageing infrastructure, unplanned breakdowns and
stoppages that may delay production, increase costs and industrial accidents;
• the
inability to modernise operations and remain competitive within the mining industry;
• the
effects of regional re-watering at South Deep;
• the effects of a failure of a dam at a
tailings facility and the closure of adjacent mines;
• actual or alleged breach or
breaches in governance processes, fraud, bribery or corruption at Gold Fields’ operations that
leads to censure, penalties
or negative reputational impacts;
• the occurrence of labour disruptions and industrial actions;
• the adequacy of the Group’s insurance coverage;
• financial flexibility
could be limited by South African exchange control regulations;
• difficulty controlling
theft of gold and copper bearing materials and illegal mining on some Gold Fields properties;
• the costs and burdens associated with tenements in Australia which are subject to native
title claims, including any compensation payable to native
title holders;
• the impact of HIV/AIDS, tuberculosis and the spread of other
contagious diseases, such as coronavirus (COVID-19);
• the identification of a material
weakness in disclosure and internal controls over financial reporting;
• difficulty with
participating in future issues of securities, or in bringing an action against Gold Fields, for
shareholders outside South Africa;
• liquidity risks in trading ordinary shares on JSE
Limited;
• Gold Fields’ ability to pay dividends or make similar payments to its
shareholders; and
• shareholders’ equity interests in Gold Fields becoming diluted
upon the exercise of outstanding share options.
Further details of potential risks and uncertainties affecting Gold
Fields are described in Gold Fields’ filings with the Johannesburg Stock Exchange
and the
United States Securities and Exchange Commission, including the Integrated Annual Report 2020 and
the annual report on Form 20-F for the
fiscal year ended 31 December 2020. Gold Fields
undertakes no obligation to update publicly or release any revisions to these forward-looking
statements to reflect events or circumstances after the date of this report or to reflect the
occurrence of unanticipated events. These forward-looking
statements have not been reviewed or
reported on by the Company’s external auditors.