Gold Fields : 1 July 2021 - Mine Week Ghana Presenter – Alfred Baku, EVP West Africa
July 02, 2021 at 08:44 am EDT
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Gold Fields Ghana:
Sustainability and Contribution to National Development
CEO Sustainability Review
CORPORATE
ALFRED BAKU, EVP & HEAD OF GOLD FIELDS WEST AFRICA
July 2021
18 March 2020
Our Vision, Our Responsibility
Our vision is to be the global leader in sustainable gold mining
We don't want to be the biggest, but we do want to be the best at what we do. We seek to create enduring value from gold mining for all of our stakeholders, including our employees, our communities, our shareholders and our host governments.
Sustainability is a business approach to creating long-term value, taking into consideration how an organisation operates in the social, environmental and economic environment. We do not want to compromise the ability of future generations to meet their own needs.
We seek to enhance the environment in which we operate and limit the impact mining can cause. We are committed to creating shared value for all our stakeholders. This is our legacy, and we measure ourselves by this.
Mining Week and Gold EXPO | Alfred Baku | July 2021
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Development Agreement with the Ghana Government
Gold Fields Ghana entered a Development Agreement with Government in April 2016 under section 49 of the Minerals & Mining Act, 2006 (Act 703), with stable fiscal terms following the increased investment by Gold Fields over the next few years.
Government has 10% freehold interest in both these mines. (Our 45% holding in the Asanko gold mine, a JV with Galiano Resources, is not covered by the Development Agreement).
Mining Week and Gold EXPO | Alfred Baku | July 2021
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Gold Fields Profile
1993 acquired the Tarkwa mine from Government
2002 acquired the Damang mine from Ranger Minerals
2017 Damang reinvestment project commenced: US$1.2bn in capital and operational expenditure
2018 entered into a JV with Galiano Gold for the Asanko mine
Our strategic objective is to grow our
business to
1Moz of gold
annually
Tarkwa maintains an estimated 500,000oz per annum with an estimated reserve of 6.1Moz
Damang has an estimated reserve of 1Moz
Approximately 860,000oz from our operations currently
Mining Week and Gold EXPO | Alfred Baku | July 2021
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Contribution to Ghana's National Development
US$1.5bn paid in corporate tax and royalties
Gold Fields is a major contributor to Ghana's
economic growth & US$116m paid in dividends to Government development since
operations begun
US$296m paid from employee pay-as-you-earn taxes
Mining Week and Gold EXPO | Alfred Baku | July 2021
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Disclaimer
Gold Fields Ltd. published this content on 01 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 July 2021 12:43:04 UTC.
Gold Fields Limited is one of the world's largest gold-mining groups. The group also produces and markets copper. Net sales break down by activity area as follows:
- Australia (42.9%): 0.9 million ounces of gold sold in 2021;
- Ghana (34%): 0.8 million ounces of gold sold;
- South Africa (13.3%): 0.3 million ounces of gold sold;
- Peru (9.8%): 0.2 million ounces of gold sold.
At the end of 2022, the group had 9 mines located in South Africa, Australia (4), Ghana (3) and Peru.
GOLD FIELDS LIMITED 
