Gold Fields

Organization type: Publicly listed company

Industry: Basic materials

Region: Africa

Integrated Report 2016

Integrated Report 2016

Overall Winner

Winner

Business model

IR Guiding Principles

  • Stakeholder relationships
Integrated Report 2015

Integrated Report 2015

Integrated Report 2014

Integrated Report 2014

Award: 2015 Excellence in Integrated Reporting - Top 10

Judge's comments

Gold Fields’ report commences with an excellent overview of its business that includes the group’s strategic priorities, global footprint, business model and a performance ‘dashboard’. The ‘dashboard’ clearly indicates the extent to which various financial and non-financial performance measures are deemed to have been acceptable or not. 

The group’s materiality determination process is well explained and the material issues are usefully scored and prioritized. The risk disclosures, which follow the explanation of strategic trends, are excellent. These disclosures include an explanation of the processes used to identify risk, a description of each risk and the mitigation strategy and a ‘heat map’ that visually presents the severity and probability of each risk. Risks are also separately presented for each geographical region within which the group operates. 

Annual Review 2013

Annual Review 2013

Award: 2014 Excellence in Integrated Reporting - Top 10

Judge's comments

Gold Fields’ report sensibly starts with the International Framework’s definition of an integrated report. This is followed by a clear diagrammatic explanation of the business model and how the model is implemented through a number of value-adding activities. 

The risk disclosures, which follow the explanation of strategic trends, are excellent. These risk disclosures include an explanation of the processes used to identify risk, a description of each risk and the mitigation strategy and a ‘heat map’ that visually presents the severity and probability of each risk. 
Furthermore, risks are categorized between ‘short-term’ and ‘long-term’ and clearly linked to the relevant strategy together with an indication of risk appetite, tolerance level, targets and the change in risk. Sustainability issues are particularly well integrated in the report, and there is a clear link between the external environment and the implications for the business. We also liked the way in which the financial statements are included within the Chief Financial Officer’s report.

Integrated Report 2012

Integrated Report 2012

Award: 2013 Excellence in Integrated Reporting - Top 10

Judge's comments

Overall, Gold Fields scored excellently in almost every aspect of the marking process, and the reader is left with a clear sense of how the various aspects of the business relate to each other. The report is extremely well structured and easily navigable. The report is crisp and concise, and readers are directed to more detailed financial and non-financial information that is contained in the Annual Financial Report and the Mineral Resources and Mineral Reserves Report, as well as additional information that is available online. The report commences with a brief high-level overview entitled “Our business,” that outlines how the company adds value, its global footprint, details of its restructuring, its vision, values and stakeholder promises, its strategy and, finally, a financial overview. This overview is followed by more detail on its three strategic pillars that includes an excellent integration of the impact of the external environment on the performance of the business. Risk disclosure was a significant contributor to the high ranking of Gold Fields, and it has one of the best risk reports that we saw. Particularly impressive was the table that concisely summarized the group’s risk appetite and tolerance. The “Strategic performance dashboard” in the stakeholder engagement section cleverly integrates strategy, shareholder risks, KPI’s, performance and forward-looking information by strategic requirement. Furthermore, it explains how these strategic requirements impact on the CEO’s remuneration.

Overseas award: towards integrated reporting

Winner

Judge's comments
 
Gold Fields of South Africa takes first place with a frank and visually attractive annual report that pulls no punches on its risks, including in health & safety. Opening with a superb overview of the company's broader context, the report makes Gold Fields' business model clear from the start and then links it closely to strategy, using innovative graphics - including heatmaps - to enliven its segment and risk disclosures. The judges were especially struck by the explicit quantification of the value put back into each country, a disclosure that one panel member described as "unbelievably powerful".
 

Integrated Report 2011

Integrated Report 2011