According to Gold Fields Limited, it topped the Sunday Times Top 100 Companies list for 2023. The Johannesburg Stock Exchange (JSE) honors top-performing businesses with these awards, highlighting those that have produced the greatest shareholder value over the previous five years.
Assuming all dividends were reinvested, Gold Fields gave shareholders total returns of 668% over the five-year period from 1 September 2018 to 31 August 2023, based on the Sunday Times’ criteria. This indicates that a R10,000 investment made in Gold Fields shares five years ago would now be worth R76,827, representing a compound annual return of more than 50%.
“For us this award is a recognition of the consistent and sustainable operational and financial performance that the company has delivered over the past few years despite a challenging operating environment for gold miners over the period,” said Martin Preece, interim CEO of Gold Fields, upon accepting the award.
“It is credit to the strong operational teams across our mines and projects around the world. We are mining at South Deep at 3,000m below the surface and have nearly completed building a new mine on the Atacama Desert in the Andes at well over 4,500m above sea level. We have the skills and diversity in our business to run our operations safely, profitably and sustainably.”
“I want to assure our shareholders that our company is well managed for their benefit, and importantly for that of all our stakeholders, including our people, communities, business partners and governments. Our company could not also prosper if it did not continue to address some of the societal and environmental issues that impact our people and communities.”
“I believe corporates globally, and critically in South Africa, continue to be a force for good and will continue to make a positive impact,” Preece said.”
Six of the Sunday Times Top 10 companies were gold miners, and nine of the companies were mining companies. This illustrates the South African gold industry’s tenacity in the face of severe price volatility and challenging social and economic conditions.
