Gold Fields Limited · JSE:GFI
Gold Fields — OIM Conference (October 2023)
19 slides from Gold Fields's conference presentation, Oct 9, 2023
Slide 1: Unleashing the Potential of our People: The Key to Unlocking a Culture of Continuous Improvement
GOLD FIELDS Unleashing the Potential of our People: The Key to Unlocking a Culture of Continuous Improvement OIM CONFERENCE Martin Preece Page 1
Slide 2: Why is continuous improvement important?
Why is continuous improvement important? The world has changed… Workplace risks are increasing… Business Russian-Ukraine Interruption (incl Natural COVID-19 BREXIT Hyper Inflation War supply chain Catastrophes disruptions) Climate Change - Changes in Rise of the GIG and Mass Adoption of Pandemic Sev
Slide 3: South Deep annual net cash flow: This was our challenge
Annual Net Cash Flow 500 195 175 Gold Fields - ( 500) ( 206) South Deep Mine (1 000) (1 500) ( 814) ( 838) (1 054) (1 130) (1 257) (1 050) ( 804) (Worlds 3rd largest gold (2 000) (1 640) (1 762) resource) 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 fails to deliver for 12 years… This
Slide 4: Historic Context
Historic Context Context Challenges South Deep is a critical • South Deep touted as highly mechanized and efficient but delivered low mine in Gold Field’s productivities at high cost portfolio with strategic • Low capability levels in key technical and supervisory roles and commercial • Overall labo
Slide 5: Not a New Concept…
Continuous improvement plan Not a New Concept… act do It’s not finding a method that works and sticking with it. It’s looking at where you are today, setting check a goal and doing what needs to be done to reach that goal. Once that goal is met, you start again, finding ways to improve further. It d
Slide 6: South Deep Frontline Leadership Programme Results
South Deep Frontline Leadership Programme Results 28 30 202101 Daily Benefits Realisation Measures (BRM) BRM Measures Monitoring 2022 YTD 2022 YTD No Performance Metric Area Control Chart Change 2018 2019 2020 2021 Avg Act Avg BP Finance Average Gold Recovered 1 (Gold recovered in kilograms, Month)
Slide 7: When you change mindsets, you influence behaviour, which shifts culture
When you change mindsets, you influence behaviour, which shifts culture to drive continuous improvement. Page 7
Slide 8: Shaping the Culture
Shape the culture 1 Shaping the Culture Develop a capable, accountable and engaged workforce as a key enabler for the creation of sustainable improvement Strategic Intent Clarity: Sustainability Focus: • Defined and communicated • Cultivated synergies across a clear Purpose and improvement themes St
Slide 9: Building Capability
Build capability 2 Building Capability Empowering Excellence: Frontline Capability and Development as Catalysts for Continuous Improvement Role Assessments: How well I execute my role Competency assessment: Are there GAPs in required Effectiveness competencies Perceived Assessment: Leadership How we
Slide 10: Manage the Work
Manage the work 3 Manage the Work On-the-Job Coaching and Continuous Assessment for Toolsets, Skillset, and Mindsets against a maturity framework 5 Stages of Management Maturity Stage 4 + Leverages tools & skillsets through ongoing Stage 5 Innovation cinnovation. Advise others on continuous performa
Slide 11: Improve the Work
Improve the work 4 Improve the Work Anchoring Excellence: Key Management Routines and Consistent Monthly Assessments INVOCOM® Focus: Accountability Focus: Effective team engagement, Driving level appropriate Root Cause Analysis & actions, clarity, and Continuous Improvement responsibility SMB Focus:
Slide 12: INVOCOM® and Visual management
INVOCOM® and Visual management INVOCOM® Focus: • Effective team engagement • Root Cause Analysis INVOCOM® Team • Continuous Improvement Visual Management Meetings Visual Management Focus: Standardise for effective INVOCOM® support • Attendance • Progressive performance tracking • Effective Feedback
Slide 13: Shift Management Book and Team Code of Behavior
Shift Management Book and Team Code of Behavior SMB Focus: TCoB Focus: Effective use of Short Interval Control to Team members hold each other drive effective execution and escalation accountable in the Gold Fields way Shift Management Team Code of Book (SMB) Behaviour Page 13
Slide 14: Improve the Work
Improve the Work Training Alignment: In collaboration with OIM Safety, Supervisory and Management training follows the same improvement philosophy and approach Change Leadership: Managers trained as change leaders in Lean Six Sigma methodologies Practical Application: All training includes execution
Slide 15: Sustain the improvement – Gold Fields AO approach
Sustain the improvement 5 Sustain the improvement – Gold Fields AO approach Incremental Breakthrough Transformational “Unlocks potential from future “Delivering the current BP cycle: BP24 ” “Questions conventional wisdom” business plans:>12kt” Productivity Initiatives Productivity Initiatives Mine o
Slide 16: Gold Fields: AO approach
Gold Fields: AO approach 2024 2025 2026 Projects ready for Implementation Projects in Evaluating (Scope & Cost Benefit) Waste Reduction Productivity Improvement Mine of the Future Benefit built (Automation) Increasing in the budget FRD1 & 2 Treatment Inhouse Rates extraction IT and OT BP24: 100kt pa
Slide 17: Sustaining improvement
Sustaining improvement Results Actions Culture Beliefs Coaching is an ongoing long-term investment Experiences Establish a burning desire to Choose multiple frameworks Practice marginal gains Involve everyone win – clear and ambitious and train your team goals Create discipline and Show patience and
Slide 18: Annual net cash flow
Annual net cash flow 2 500 2 104 2 000 1 759 1 435 1 500 1 000 558 500 175 151 R Million - (500) (1 000) (804) (814) (838) (1 054) (1 050) (1 130) (1 500) (1 257) (1 640) (2 000) (1 762) (1 891) (2 500) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 23 June YtD It’s criti
Slide 19: THANK YOU
THANK YOU 19