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Non-Current Investments (Tables) | 12 Months Ended
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Dec. 31, 2013
Non-Current Investments |
|  | December 31, 2013 |  |  | December 31, 2012 |
Listed investments a |  |  | 3.2 |  |  |  | 36.2 |
Unlisted investments |  |  | 4.3 |  |  |  | 1.3 |
Investments held by environmental trust funds b |  |  | 23.9 |  |  |  | 165.3 |
Equity investees c |  |  | 237.5 |  |  |  | 254.4 |
Other investments |  |  | — |  |  |  | 0.8 |
|  |  | 268.9 |  |  |  | 458.0 |
(a) | Listed investments mainly consist of:
|  | December 31, 2013 |  |  | December 31, 2012 |
|  | Number of shares |  |  | Market value, $ per share |  |  | Number of shares |  |  | Market value, $ per share |
Northam Platinum |  |  | — |  |  |  | — |  |  |  | 7,820,169 |  |  |  | 4.55 |
Radius Gold Incorporated |  |  | 3,625,124 |  |  |  | 0.09 |  |  |  | 3,625,124 |  |  |  | 0.22 |
Gran Columbia Gold Corporation |  |  | 63,410 |  |  |  | 0.78 |  |  |  | 1,585,274 |  |  |  | 0.36 |
Sibanye Gold |  |  | 856,330 |  |  |  | 1.12 |  |  |  | — |  |  |  | — |
Orsu Metals Corp. |  |  | 26,134,919 |  |  |  | 0.05 |  |  |  | 1,134,919 |  |  |  | 0.10 |
Clancy Exploration Ltd. |  |  | 17,764,783 |  |  |  | 0.01 |  |  |  | 3,479,069 |  |  |  | 0.03 |
Details of the listed investments are as follows:
|  | December 31, 2013 |  |  | December 31, 2012 |
Fair value |  |  | 3.2 |  |  |  | 36.2 |
Less: Cost |  |  | 3.4 |  |  |  | 24.8 |
Net unrealized (loss)/gain |  |  | (0.2 | ) |  |  | 11.4 |
The net (loss)/gain comprises: |  |  |  |  |  |  |  |
Gross unrealized gains |  |  | 0.2 |  |  |  | 11.7 |
Gross unrealized losses |  |  | (0.4 | ) |  |  | (0.3 | )
|  |  | (0.2 | ) |  |  | 11.4 |
The gross unrealized loss comprises the following number of equity instruments none of which have been in a continuous unrealized loss position for more than 12 months: |  |  | 3 |  |  |  | 4 |
Realized gain reclassified from equity on disposal of listed investments ($ million) |  |  | 7.4 |  |  |  | 14.7 |
Investments acquired during fiscal 2013 comprised mainly Clancy Exploration Limited and some unlisted investments (fiscal year ended December 31, 2012: Cascadero Copper Corporation and Atacama Pacific Gold Corporation). Investments disposed during fiscal 2013 comprised mainly Northam Platinum Limited and Timpetra Resources Limited (fiscal year ended December 31, 2012: Evolution Mining Limited, GoldQuest Mining Corporation and Atacama Pacific Gold Corporation). As a result of the disposal of investments, a realized gain on disposal of listed investments before tax of $7.4 million (2012: $14.7 million and 2011: $12.8 million) was reclassified out of accumulated other comprehensive income to net income and is included in profit on disposal of listed investments in the consolidated statement of operations.
(b) | The environmental trust funds are irrevocable trusts under the Group’s control. The monies in the trusts are invested primarily in interest bearing term deposits and the costs of these investments approximate their fair value. The investments provide for the estimated cost of rehabilitation during and at the end of the life of the Group’s South African and Ghanaian mines. While the asset is under the Group’s control, it is not available for the general purposes of the Group. All income from this asset is reinvested or spent to meet these obligations. These obligations are described in note 17, “Provision for Environmental Rehabilitation”.
(c) | Equity investees comprise the following:
|  |  |  | Ownership % |  |  | Market value |
Investment |  | Description of business |  | December 31, 2013 |  |  | December 31, 2012 |  |  | December 31, 2013 |  |  | December 31, 2012 |
Far South East |  | Exploration |  |  | 40.0 |  |  |  | 40.0 |  |  |  | * |  |  |  | * |
Rusoro Mining Limited |  | Gold mining |  |  | 26.4 |  |  |  | 26.4 |  |  |  | 3.3 |  |  |  | 6.3 |
Rand Refinery Limited |  | Refining of gold bullion and by-products |  |  | 2.8 |  |  |  | 34.9 |  |  |  | * |  |  |  | * |
Bezant Resources Plc 1 |  | Exploration |  |  | 21.6 |  |  |  | — |  |  |  | 5.1 |  |  |  | — |
Timpetra Resource Limited 2 |  | Resource exploration |  |  | 1.8 |  |  |  | 21.8 |  |  |  | 0.1 |  |  |  | 1.0 |
* | - Not readily determinable
(1) | Gold Fields purchased a 21.6% shareholding in Bezant for $7.5 million in January 2013.
(2) | During 2013, 13.7 million shares out of the 15 million previously held were disposed of and due to the decrease in shareholding, Timpetra Resources Limited is no longer equity accounted. The remaining investment was reclassified to listed investments.
Carrying Value of Equity Investment |
Carrying amount |  | December 31, 2013 |  |  | December 31, 2012 |
Far South East |  |  | 230.0 |  |  |  | 230.0 |
Rusoro Mining Limited |  |  | — |  |  |  | — |
Rand Refinery Limited |  |  | — |  |  |  | 23.7 |
Bezant Resources Plc |  |  | 7.5 |  |  |  | — |
Timpetra Resource Limited |  |  | — |  |  |  | 0.7 |
Total |  |  | 237.5 |  |  |  | 254.4 |
Rusoro Mining Limited |
Carrying Value of Equity Investment | The carrying value of the equity investment in Rusoro Mining Limited, or Rusoro:
|  | December 31, 2013 |  |  | December 31, 2012 |
Opening balance |  |  | — |  |  |  | 13.2 |
Share of losses recognized 1 |  |  | — |  |  |  | (13.4 | )
Other comprehensive income |  |  | — |  |  |  | 0.2 |
Closing balance |  |  | — |  |  |  | — |
| (1) | The results of Rusoro for the Gold Fields’ fiscal year ended December 31, 2013 are for the twelve months to September 2013 (December 31, 2012: twelve months ended September 30, 2012).
Rand Refinery Limited |
Carrying Value of Equity Investment | The carrying value of the equity investment in Rand Refinery Limited, or Rand Refinery:
|  | December 31, 2013 |  |  | December 31, 2012 |
Opening balance |  |  | 23.7 |  |  |  | 12.9 |
Share of profit after taxation for continuing operations |  |  | — |  |  |  | 0.7 |
Share of profit after taxation for discontinued operations |  |  | 0.9 |  |  |  | 11.3 |
Spin-off of Sibanye Gold |  |  | (22.4 | ) |  |  | — |
Reclassification to unlisted investments |  |  | (2.5 | ) |  |  | — |
Translation |  |  | 0.3 |  |  |  | (1.2 | )
Closing balance |  |  | — |  |  |  | 23.7 |
Far South East Project [Member] |
Carrying Value of Equity Investment | Far South East Gold Resources Incorporated has a 31 December year end and has been equity accounted since April 1, 2012.
|  | December 31, 2013 |  |  | December 31, 2012 |
Gold Fields interest in FSE on December 31, 2013 was 40.0% (2012: 40.0%). |  |  |  |  |  |  |  |
Opening balance |  |  | 230.0 |  |  |  | — |
Investment |  |  | — |  |  |  | 230.0 |
Equity contribution |  |  | 68.5 |  |  |  | 50.1 |
Share of accumulated losses brought forward |  |  | (50.1 | ) |  |  | — |
Share of losses recognized |  |  | (18.4 | ) |  |  | (50.1 | )
Translation |  |  | — |  |  |  | — |
Closing balance |  |  | 230.0 |  |  |  | 230.0 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
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- Definition Tabular disclosure of the summary of investment holdings. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 4 -Subparagraph (SX 210.12-12C) -URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611225-123010 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12C -Article 12 + Details
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