Gold Fields enters into sustainability-linked facility for up to A$500m

2nd October 2023 By: Creamer Media Reporter

Gold Fields enters into sustainability-linked facility for up to A$500m

Among Gold Fields' investments in renewable energy projects is a solar and microgrid facility at the Agnew mine, in Australia

Gold miner Gold Fields has, along with certain of its subsidiaries, entered into a five-year sustainability-linked revolving credit facility (RCF) agreement for up to A$500-million with a syndicate of ten banks.

The funding will be used for general corporate and working capital requirements and the sustainability-linked key performance indicators for the term of the facility are aligned with the group's strategy; its 2030 environmental, social and governance (ESG) targets; and its recently refinanced dollar-denominated RCF.

The Commonwealth Bank of Australia was the mandated lead arranger, bookrunner and sustainability coordinator for this transaction.

Gold Fields in June announced that it had successfully refinanced its $1.2-billion 2019 RCF and that the facility would, for the first time, be linked to the achievement of three of Gold Fields' key ESG priorities – gender diversity, water stewardship and decarbonisation.

The group's three most material ESG priorities are to improve women's representation in its workforce from a level of 23% (as at June 2023); increase the amount of reused or recycled water from 75% of water consumption (as achieved in 2022); and up abatement in Scope 1 and 2 carbon dioxide emissions through renewable energy projects.