Gold Fields Limited
Gold Fields Limited is a globally diversified senior gold producer, NYSE/JSE-listed, with operations across South Africa (South Deep), Ghana (Tarkwa; Damang passed to the Government of Ghana on 18 April 2026 when its lease expired), Australia (St Ives, Gruyere), Peru (Cerro Corona) and Chile (Salares Norte, which achieved commercial production in late 2025). In Oct 2025 Gold Fields completed the $1.42 billion acquisition of Gold Road Resources, giving it full (100%) ownership of Gruyere (previously a 50/50 JV). Mike Fraser has been CEO since Jan 2024; Alex Dall is CFO (permanent appointment Mar 2025, after serving as interim CFO from May 2024). South Deep delivered 309koz in 2025, up 16% YoY. FY2026 guidance is 2.4-2.6 million oz production, $1.9-2.1B total capital, and AISC of $1,800-2,000/oz.
Notable vs. Peers
- Financials score of 4.6/10 is weaker than the peer average of 6.5/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Jan 2021 · Source
- Oct 2025 · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: grid power.
Not in place: grid power.
Combined view across 8 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
- 25%Salares Norte
- 24%Gruyere
- 11.5 yrsSalares Norte
- 85 yrsSouth Deep
- 13 yrsGruyere
Shown as separate totals, not summed together: these projects' studies used different discount rates, so a single combined NPV would not be a real number.
Jurisdiction (40%)7/10
Gold Fields' largest mine is now the wholly owned Salares Norte gold-silver mine in Chile's Atacama Region, which produced 336,900 gold-equivalent ounces in the first half of 2026. Chile is an established, generally mining-friendly jurisdiction, though water-rights, permitting and social-license risk is higher than in Canada or Australia; scored 7 in line with the other large Chilean producers on this site. Gold Fields is headquartered in South Africa and also mines in Australia (St Ives, Granny Smith, Agnew, Gruyere), Ghana (Tarkwa), South Africa (South Deep) and Peru (Cerro Corona); this single flagship-based score does not capture them.
Infrastructure (40%)7.1/10
A confirmed mill, confirmed road access, no confirmed grid power, and a confirmed tailings facility at Salares Norte.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: El Salvador (Corporacion Nacional del Cobre de Chile), 71 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:4.3/10
Nearest producing mine: El Salvador (Corporacion Nacional del Cobre de Chile), 71 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:7/10
Chile: jurisdiction score 7/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Chief Executive Officer of Gold Fields Limited since 1 Jan 2024. Before Gold Fields, CEO of Chaarat Gold Holdings Ltd (2022-2024); President & COO of South32 Limited's global aluminium, nickel, manganese and energy coal businesses (2015-2022, since South32's spin-off from BHP); and 2001-2015 at BHP rising through Human Resources, including GM of the Mozal Aluminium Smelter in Mozambique.
Chief Financial Officer and Executive Director of Gold Fields Limited, full-time appointment effective 1 Mar 2025 (interim CFO from Apr 2024). Joined Gold Fields in 2014 in SOX and technical accounting, promoted to VP Corporate Finance in 2022 -- his entire substantive career has been built inside Gold Fields; before that, completed his chartered-accountant articles at KPMG in the energy and natural resources department.
Independent Non-Executive Chair of Gold Fields Limited since 25 May 2026, succeeding Yunus Suleman. Experienced mining executive with 30+ years in mining operations and executive leadership across multiple commodities and jurisdictions; currently also Non-Executive Chairman of Capstone Copper Corporation.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Not scored. Smart-money tracking covers companies below about US$5B in market cap, where a single specialist fund or strategic investor taking a stake is a meaningful signal. This company was above that size when it was assessed.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Gold Fields reports resources exclusive of reserves: 48.3 Moz of proved and probable gold reserves plus 31.6 Moz of additional measured and indicated resources at its continuing operations, 79.9 Moz in total; Damang's 2.6 Moz left the portfolio with the mine in April 2026.