Slide 1: H1 2017 Results
Invincible Pit, St Ives, Western Australia H1 2017 Results REINVESTING FOR THE FUTURE 17 August 2017
Slide 2: Forward looking statements
Forward looking statements Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. In particular, the forward looking statements in this document include
Slide 3: Member of the ICMM
Member of the ICMM Catalyst for change ● ICMM is a CEO-led international organisation that advocates for a responsible and sustainable mining and metals sector. Sustainable development framework ● 10 sustainability principles and 7 position statements - ethical business practices, environmental stew
Slide 4: H1 2017 results
H1 2017 results Salient features H1 2017 H1 2016 Q2 2017 Q1 2017 Attributable gold equivalent production (koz) 1,047 1,044 550 497 All-in sustaining costs (US$/oz) 980 992 949 1,016 All-in costs (US$/oz) 1,103 1,024 1,092 1,114 Net cash from operating activities (US$m) (102) 60 Normalised earnings (
Slide 5: Need to invest to sustain cash generation
Need to invest to sustain cash generation Excluding project capex and working capital requirements of US$39m in Q1 and US$102m in Q2, net cash flow was US$4m and US$35m, respectively 250 2013 2014 2015 2016 H1 2017 2 000 Gold: US$1,386/oz Gold: US$1,249/oz Gold: US$1,140/oz Gold: US$1,241/oz Gold: U
Slide 6: Hedging oil, A$ gold price and copper price
Hedging oil, A$ gold price and copper price ● In line with Group policy to protect cash flow during periods of significant expenditure, Gold Fields has selectively hedged the oil price and Australian dollar gold price ● Oil hedge comprises: ̵ Australia: 78m litres at an equivalent Brent Crude swap p
Slide 7: Comfortable balance sheet, with flexibility
Comfortable balance sheet, with flexibility Net debt (US$m) and Net debt/EBITDA ● Net debt of US$1,365m at 30 June 2017 2 000 2.0 ● Net debt to EBITDA of 1.12x at end-June 2017 1 500 1.5 from 0.95x at end-2016 US$m ● First material debt maturity in June 2019 1 000 1.0 (previously November 2017) 500
Slide 8: Investing for the future
Damang pit, Ghana Gruyere, Western Australia South Deep, South Africa Salares Norte, Chile Investing for the future
Slide 9: Securing the longer term profile
Securing the longer term profile ● Investment initiatives underway which enable Gold Fields to maintain the current production profile for the next 8 to 10 years and upgrade the quality of the portfolio through lowering AIC: ̵ Damang Reinvestment ̵ Gruyere JV ̵ South Deep Rebase ̵ Brownfields explor
Slide 10: Progress on Gruyere
Progress on Gruyere ● Approval for the Project Management Plan, Mining Proposal and Mine Closure Plan – Achieved ● Construction of 648 Room accommodation village & facilities – Completed July 2017 ● EPC, bulk earthworks, SAG mill supply and primary crusher supply contracts – Awarded ● SAG & Ball Mil
Slide 11: Progress on Gruyere
Progress on Gruyere Main Access Road Airstrip and Airport Terminal Building Processing Plant and Tailings Storage Facility Gruyere is on track for first production early 2019 Gold Fields, H1 2017 results, 17 August 2017 11
Slide 12: Update on the Damang reinvestment project
Update on the Damang reinvestment project ● The Damang reinvestment project commenced on 23 December 2016 with the two major contractors operating in the Damang complex and satellite pit areas ● Good progress made to date: ̵ Total tonnes mined in H1 2017 were 18.9Mt vs. plan of 15.2Mt ̵ Total tonnes
Slide 13: Update on South Deep
Update on South Deep ● Slow start to the Rebase Plan in Q1 2017 ̵ Two fatalities and three falls of ground ̵ Access to high grade areas and haulage infrastructure was restricted ● Good recovery in Q2 2017 ̵ Tonnes mined: 414kt in Q2 2017 vs. 365kt in Q1 2017 (13% increase) ̵ Average reef grade: 5.73
Slide 14: Update on leading indicators
Update on leading indicators metres Development - monthly average m2 Destress - monthly average 700 3 000 600 2 500 20% 500 2 000 69% 400 1 500 300 1 000 200 500 100 - - 2014 2015 2016 H1 2017 2014 2015 2016 H1 2017 Development Linear (Development) Low Profile High Profile tonnes Longhole stoping -
Slide 15: Salares Norte moving up the value curve
Salares Norte moving up the value curve ● 100% Gold Fields owned gold-silver deposit in the Atacama region of northern Chile ● Mineralisation is contained in a high-sulphidation epithermal system, offering high-grade oxides ● Mineral resources as at 31 December 2016 of 4.4Moz gold equivalent (25.6Mt
Slide 16: Exploration update
Gruyere, Western Australia South Deep, South Africa Exploration update
Slide 17: Granny Smith – Resource & Reserve growth
Granny Smith – Resource & Reserve growth Wallaby – A World Class Deposit Green = initial resource area Yellow = Zone 110 resource Zone 110 Underpinning growth at Granny Smith – Blue = Zone 120 resource 0 200m Key Observations: DH Intersections • Resources 6.5Moz (24% increase on 2015) • Reserves 1.6
Slide 18: Granny Smith – Resource & Reserve growth
Granny Smith – Resource & Reserve growth Wallaby Zone 135 – Continues to deliver quality resources & future growth Target Description: Infill Z135 to 100x100m Continues to deliver quality resources and future reserve growth WBD039UDW1 7.16m @ 16.06g/t Key Observations: WB3801UDW1 • Typical Wallaby-s
Slide 19: Granny Smith – Emerging projects
Granny Smith – Emerging projects Northern Fleet (Lake Carey area) ● 7.5km of anomalous gold zone Northern Fleet Overview ● Full field Aircore program continues ● On-going on-lake drilling programs in 2017 Lake Carey East Scamp Dallas West 8m at 4.28 g/t 14m at 0.65 g/t Dallas South Blurry Alabama BI
Slide 20: Granny Smith – Blurry BIF emerging Project
Granny Smith – Blurry BIF emerging Project Target Description: Contact between # of Holes Drilled: 6 (6/11) banded iron formation and intrusive Metres: 2768 (2768/4500) porphyry which is coincident with multiple Assays: 1 (1/11) highly anomalous gold intersections LCDD0056 (DD) VG at 140m Potential:
Slide 21: St Ives – Resource & Reserve growth
St Ives – Resource & Reserve growth Invincible Complex - Continues To Grow Underpinning growth at St Ives Key Observations: Invincible Open Pit • Economic mineralisation intersected over 1,400m strike and 800m depth Invincible South • Open up and down plunge • Strong geological continuity between ho
Slide 22: St Ives – “Greater” Invincible & Speedway Trend
St Ives – “Greater” Invincible & Speedway Trend “Greater” Invincible ● Resource growth to 1.427Moz Invincibl Reven since discovery e Mine ge ● Open Pit mining continues circa Victor mid-2019 y ● UG mine development Mill commenced July 2017 ● Future mine expansions at Invincible mid & Deeps ● Invinci
Slide 23: St Ives – Palaeochannel Project
St Ives – Palaeochannel Project Potential 5Moz; 44km drilled of 255km planned Drilling Completed Since Q2 2016 Aircore Holes Metres West 1,200 112,000 Kambalda Advanced Scoping Study Several semi-continuous mining Mining methods are being investigated. Revenge Invincible Neptune Ongoing options stud
Slide 24: Agnew – Emerging projects
Agnew – Emerging projects Waroonga North underground – Underpinning Growth Underpinning growth at Agnew Key Observations: ▪ Multiple mineralised quartz zone intersected ▪ Resource conversion in parallel to exploration ▪ Encouraging results incl. ▪ WNGC780155: 1.5m @ 16.3g/t ▪ WNGC780159: 2.2m @ 20.3
Slide 25: Tarkwa Exploration
Tarkwa Exploration Hydrothermal potential in a larger paleoplacer trend KD Far North CIL PLANT ● Drilling outlined gold mineralisation along 1.35km strike ● Kobada trend may run for more than North Hill KD East 7km in total ● New search area to Kobada North extend Kobada to the STARTER PIT North and
Slide 26: Regional Review
Gruyere, Western Australia South Deep, South Africa Regional Review
Slide 27: Regional overview
Regional overview Group: H1 2017 Group: Q2 2017 Attributable production 1,047koz Attributable production 550koz AIC US$1,103/oz AIC US$1,092/oz Mine net cash flow US$52m Mine net cash flow US$38m West Africa Region Att. production: 323koz (32% of group) All in costs: US$1,138/oz Americas Region Net
Slide 28: H1 2017: Australia
H1 2017: Australia H1 H1 Q2 Q1 Production (koz) and AIC (US$/oz) 2017 2016 2017 2017 550 1 200 Production koz 468.8 466.1 243.3 225.4 500 450 1 000 AIC* US$/oz 924 928 890 962 400 350 800 * Excluding Gruyere 300 600 250 ● H1 2017 TRIFR of 12.3 vs. 7.2 in H1 2016 200 400 150 ● FY17 production and cos
Slide 29: H1 2017: West Africa
H1 2017: West Africa H1 H1 Q2 Q1 Production (koz) and AIC (US$/oz) 2017 2016 2017 2017 350 1 400 Production koz 358.5 345.5 183.9 174.5 300 1 200 AISC US$/oz 995 1,052 955 1,037 250 1 000 200 800 AIC US$/oz 1,142 1,052 1,131 1,153 150 600 ● Focus on safety continues: TRIFR of 0.51 vs. 0.66 in H1 100
Slide 30: H1 2017: South America
H1 2017: South America H1 H1 Q2 Q1 Production (koz) and AIC (US$/oz) 2017 2016 2017 2017 160 1 000 140 900 Au Eq Prod koz 137.0 127.5 68.4 68.7 800 120 700 Au Eq AIC US$/oz 677 728 724 626 100 600 80 500 AU only Prod koz 69.9 70.5 36.1 33.8 60 400 AU only AIC US$/oz 253 489 380 118 300 40 200 20 100
Slide 31: H1 2017: South Africa
H1 2017: South Africa H1 H1 Q2 Q1 Production (koz) and AIC (US$/oz) 2016 2016 2017 2017 160 2 500 Production koz 119.3 140.0 73.5 45.8 140 2 000 120 AISC US$/oz 1,521 1,229 1,352 1,784 100 1 500 AIC US$/oz 1,557 1,257 1,389 1,821 80 60 1 000 40 ● Improved TRIFR performance 500 20 ̵ TRIFR of 2.18 (H1
Slide 32: Investor Relations Contacts
Gruyere Project, Western Australia Investor Relations Contacts Media Contact Avishkar Nagaser Thomas Mengel Sven Lunsche Tel: +27 11 562 9775 Tel: +27 11 562 9849 Tel: +27 11 562 9763 Mobile: +27 82 312 8692 Mobile: +27 72 493 5170 Mobile: +27 83 260 9279 E-mail: E-mail: E-mail: Avishkar.Nagaser@gol