Slide 1: Turning cash flow positive – H1 2019 Results
Turning cash flow positive H1 2019 RESULTS Nick Holland - CEO
Slide 2: Forward looking statement
Forward looking statement 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 a
Slide 3: Salient features of H1 2019
Salient features of H1 2019 Turning cash flow positive ● Turning cash flow positive after 2 years of reinvestment ̵ Net cash flow of US$49m in H1 2019 ● Gruyere commenced production and achieved practical completion on 10 August 2019 ● Damang continues to track ahead of plan ● South Deep showing inc
Slide 4: A globally diversified gold miner
A globally diversified gold miner H1 2019 results Gold Fields Group Mines: 8 Projects: 2 Countries: 5 Att. production: 1,083koz AIC: US$1,106/oz Mine net cash flow*: US$198m inflow West Africa region Mines: Tarkwa, Damang and Asanko Att. production: 400koz AIC: US$1,007/oz Net cash flow*: US$72m inf
Slide 5: Turning cash positive sooner than expected
Turning cash positive sooner than expected ● Gold Fields turned net cash flow positive in H1 2019 (after Net Cash Flow* two years of reinvestment), 400 earlier than originally 300 anticipated 200 ● Net cash flow* of US$49m in 100 H1 2019 ● Mine net cash flow of US$m 0 US$198m in H1 2019 -100 ● Group
Slide 6: Focus on balance sheet in H1 2019
Focus on balance sheet in H1 2019 New bonds issued ● Gold Fields successfully concluded the raising of two new bonds on 9 May 2019 for a total of US$1bn at an average coupon of 5.625% ̵ US$500m 5-year bond with a coupon of 5.125% ̵ US$500m 10-year bond with a coupon of 6.125% ̵ Proceeds were used to
Slide 7: Balance Sheet
Balance Sheet ● Net debt (before IFRS16 adjustments) of US$1,498m at Net debt (US$m) and Net debt/EBITDA – pre IFRS16 30 June 2019 US$m 2 000 2,0 ̵ Net debt to EBITDA of 1.59x 1 800 1 600 1,5 ● Net debt (after IFRS16 adjustments) of US$1,794m at 1 400 1 200 30 June 2019 1 000 1,0 ̵ Net debt to EBITD
Slide 8: Update on projects
Update on projects
Slide 9: Australia's newest gold mine
Australia’s newest gold mine Footprint of the Gruyere plant Gold Fields H1 2019 Results | 15 August 2019 9
Slide 10: Australia's newest gold mine
Australia’s newest gold mine Gold Fields H1 2019 Results | 15 August 2019 10
Slide 11: Gruyere
Gruyere ● Gruyere reached the milestone of pouring first gold post the close of the June 2019 quarter ̵ Three dore gold bars totaling 1,139oz produced from the Carbon-in-Leach and elution circuits ● Practical completion achieved on 10 August 2019 ● The full processing circuit is now in operation and
Slide 12: Update on Damang
Update on Damang ● Another strong performance by Damang in H1 2019, beating plan on both production and costs ̵ H1 2019 production of 112koz at AISC of US$652/oz and AIC of US$1,061/oz ̵ On track to meet full-year guidance of 218koz ● Encouragingly, the mine generated free cash after all capital dur
Slide 13: Update on Damang – Damang pit West wall
Update on Damang Damang pit West wall Gold Fields H1 2019 Results | 15 August 2019 13
Slide 14: Update on Damang – Damang pit East wall
Update on Damang Damang pit East wall Gold Fields H1 2019 Results | 15 August 2019 14
Slide 15: Update on Damang – pit North to South view
Update on Damang Damang pit North to South view Gold Fields H1 2019 Results | 15 August 2019 15
Slide 16: Regional overviews
Regional overviews
Slide 17: Australia
Australia H1 2019 H1 2018 2019 guidance* Att. Production koz 435 442 887 39% of Group managed AIC US$/oz 1,035 900 1,139 production A$/oz 1,465 1,166 1,518 Net cash flow US$m 92 86 ● Production commenced at Gruyere, with practical completion achieved ● St Ives continued to transition to a predominan
Slide 18: St Ives: Greater Invincible
St Ives: Greater Invincible Target Description: Brecciated mudstone hosted mineralisation Geological Opportunities: Time to mining: <2yr Potential: +2Moz • Multiple lodes UG Extensions • Down dip extensions of all lodes Open Pit extensions N S Greater Invincible North Mids Invincible Mids Greater In
Slide 19: Agnew exploration: Waroonga
Agnew exploration: Waroonga Exploration & Growth at Waroonga – focus areas Context Multiple narrow lode ore bodies (1-5 metres) Limited strike extents Large vertical extent (steeply dipping) Coarse gold 3 years reserves for 35 years Saint?? Potential new lode Open Open Open Open Mined since 1993 – R
Slide 20: Agnew exploration: Redeemer
Agnew exploration: Redeemer Greater Redeemer Complex Redeemer exploration South (1km to Crusader) targets North (3.5km to Waroonga) ● 1: Zone 2 Barren Lands Redeemer ● 2: Barren Lands Zone 2 North Zone 2 South ● 3: Extension of Zone 2 to the north 4 2 ● 4: Area of possible 3 decline from Barren 5 La
Slide 21: Americas
Americas H1 2019 H1 2018 2019 guidance Au Eq production koz 157 138 291 Au Eq AIC US$/oz 698 737 802 Au only production koz 81 61 153 14% of Group managed Cu only production tonnes 16,122 14,678 27,684 production Au only AIC US$/oz 290 197 566 Net cash flow US$m 52 41 ● Cerro Corona ̵ Feasibility st
Slide 22: Salares Norte District
Salares Norte District ● District drilling metres are 66% over budget YTD ● Horizonte DIA was approved on 17 July 2019. This DIA: ̵ Enables the development of Salares Norte Horizonte project by allowing 500 drilling platforms, all the associated access roads and support facilities ̵ Allows the const
Slide 23: Chakana Copper
Chakana Copper Emerging Copper/Gold/Silver project in Peru Soledad Project Location & Mining friendly; excellent road access, power lines, water; Infrastructure Established mining district, 3 active mines in vicinity. Rapidly expanding breccia pipe field, increasing search space; Geology Also epithe
Slide 24: West Africa
West Africa H1 2019 H1 2018 2019 guidance Managed production koz 438 354 838 39% of Group managed AISC US$/oz 892 924 919 production AIC US$/oz 1,007 1,114 1,102 Net cash flow* US$m 118 64 * Net cash flow excludes Damang project capital Numbers include 45% of Asanko Gold Mine ● Growing region for Go
Slide 25: Tarkwa exploration
Tarkwa exploration Paleoplacer drilling: potential 20km strike Gold Fields H1 2019 Results | 15 August 2019 25
Slide 26: South Africa
South Africa H1 2019 H1 2018 2019 guidance Att. Production koz 92 97 193 AISC US$/oz 1,529 1,699 1,394 8% of Group managed AIC US$/oz 1,529 1,816 1,394 production Net cash flow* US$m -17 -42 * Excluding project capital ● South Deep continued to make positive progress on most of the performance metri
Slide 27: Strong focus on ESG
Strong focus on ESG
Slide 28: Safety
Safety ● Maria Ramela lost her life in a mining incident at South Deep on 2 June 2019. The crew leader was fatally injured after being struck by a rock ejected from the rock-face following four seismic events in quick succession ● TRIFR regressed by 3% from 2.10 for H1 2018 to 2.17 for H2 2019 ● Gro
Slide 29: Environment and Social
Environment and Social ● No Level 3 – 5 environmental incidents H1 H2 H1 were reported in H1 2019 compared Key measurements 2019 2018 2018 with one for H1 2018 Environmental incidents - Level 3 0 1 1 ● June submission to ESG investors of detailed report on our 34 TSFs Water recycled/reused (% of tot
Slide 30: Member of the ICMM
Member of the ICMM Committed to responsible and sustainable mining Catalyst for change ● ICMM is a CEO-led international organisation that advocates responsible and sustainable mining Sustainable development framework ● 10 sustainability principles and 7 position statements - ethical business practi
Slide 31: Outlook
Outlook
Slide 32: 2019 outlook and guidance
2019 outlook and guidance 2019 Group guidance unchanged ● Attributable equivalent gold production: 2.13Moz – 2.18Moz ● AISC: US$980/oz – US$995/oz ● AIC: US$1,075/oz – US$1,095/oz (includes project capital of US$69m at Damang, US$74m at Gruyere and Salares Norte expenditure of US$57m) Focus areas fo
Slide 33: Thank you
Thank you QUESTIONS AND ANSWERS