Gold Fields was not necessarily aiming to be the biggest gold mining company in the world, but rather to be the best and most sustainable company in the business, stated Gold Fields CEO Nick Holland.

Speaking at the company’s analyst day in Johannesburg, Holland made it clear that the company plans to mine for the next 30 years and that it would do so in a responsible way.

He noted that Gold Fields plans to raise production to five-million ounces of gold by 2014. This will include one-million ounces from its South American, West African, and Australasia regions respectively, as well as between 2,2-million ounces and 2,5-million ounces from South Africa.

“This is not a ‘pie in the sky’ concept, but a gap that we intend to fill in the next five years,” commented Holland.

To reach this goal, Gold Fields intends to sweat its assets and especially build on the South African production machine, which he referred to as the bedrock of the company.

Current aspirations in the South African region, include the base-load delivery of between 17 t to 18 t of ore each quarter. Holland noted that the company would reach this goal, by the next quarter already. “By the end of 2014 the aim is to deliver 20 t for each quarter, by further increasing the flexibility of our operations and opening up our ore bodies.

Further, Holland stated that Gold Fields had a world-class growth pipeline emerging with its near mine and greenfield exploration programme. Currently, the company boasts four advanced projects and hopes to turn one of these programmes, the Chucapaca joint venture, into a mine in the near future. An interim resource and scoping study for the Chucapaca project, in Peru, will be delivered by the end of 2010.

Gold Fields has also defined its uranium resource and a feasibility study is due in the third quarter of 2010.

However, Holland pointed out that the most significant aspect of the business is its people. “We realise and emphasise that people is indeed the key driver to the success of Gold Fields.

“To secure our future, the company aspires to attract and retain scarce skills by improving employee relations practices, remuneration models, improving our health and safety environment, leadership development, education and training, employment equity and taking a total employee wellness approach,” said Holland.

Gold Fields went from having the worst safety record to being the best in the industry. “This was our best safety year ever, and the company has reduced fatalities from 47 in 2008 to 21 this year.”

Nevertheless, the company’s ultimate goal is to eliminate all serious and fatal accidents. “We will not mine, if we cannot mine safely,” Holland concluded.

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.