XML 83 R48.htm IDEA: XBRL DOCUMENT v3.3.1.900

Non-Current Investments (Tables)

12 Months Ended

Dec. 31, 2015

Non-Current Investments

		December 31, 2015				December 31, 2014
Listed investments a			7.8				4.4
Unlisted investments			3.1				1.1
Investments held by environmental trust funds b			35.0				30.5
Equity investees c			129.1				250.5
			175.0				286.5

(a) Listed investments consist mainly of:

		December 31, 2015								December 31, 2014
		Number of shares				Market value, $ per share				Number of shares				Market value, $ per share
Radius Gold Incorporated			3,625,124				0.05				3,625,124				0.07
Gran Columbia Gold Corporation			63,410				0.11				63,410				0.34
Sibanye Gold			856,330				1.59				856,330				1.92
Orsu Metals Corp.			26,134,919				0.01				26,134,919				0.02
Clancy Exploration Ltd.			17,764,783				0.01				17,764,783				0.01
Tocqueville Bullion Reserve Ltd.			1,339				1,043.64				1,339				1,178.73
Hummingbird Resources			21,258,503				0.19				—				—

Details of the listed investments are as follows:

		December 31, 2015				December 31, 2014
Fair value			7.8				4.4
Less: Cost			6.9				3.9
Net unrealized gain			0.9				0.5
The net gain comprises:
Gross unrealized gains			1.1				0.7
Gross unrealized losses			(0.2	)			(0.2	)
			0.9				0.5
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			2				3
Realized gain reclassified from equity on disposal of listed investments ($ million)			—				1.8

Investments acquired during fiscal 2015 comprised Consolidated Woodjam Copper Corporation. The investment comprised of 12,285,463 shares, which were acquired for $0.4 million. No investments were disposed during fiscal 2015.

As a result of the disposal of investments, a realized gain on disposal of listed investments before tax of $nil million (fiscal 2014: $1.8 million) was reclassified out of accumulated other comprehensive income to net income and is included in profit on disposal of investments and subsidiaries 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, 2015				December 31, 2014				December 31, 2015				December 31, 2014
Far South East		Exploration			40.0				40.0				128.6				*
Rusoro Mining Limited		Gold mining			26.4				26.4				5.0				1.8
Bezant Resources Plc1		Exploration			21.6				21.6				0.5				1.3
Hummingbird Resources Plc2		Exploration			—				25.1				—				10.9

* - Not readily determinable.

(1) During fiscal 2014, the investment in Bezant Resources Plc was impaired by $7.4 million to its fair value, as determined by its quoted market price. This impairment is considered other than temporary as the carrying value has been below the fair value for an extended period of time.

(2) During fiscal 2014, Gold Fields acquired a 25.1% interest in Hummingbird Resources Plc (Refer note 3(c) for further details).

Carrying Value of Equity Investment

Carrying amount		December 31, 2015				December 31, 2014
Far South East			128.6				230.0
Rusoro Mining Limited			—				—
Bezant Resources Plc			0.5				1.3
Hummingbird Resources Plc			—				19.2
Total			129.1				250.5

Far South East Project [Member]

Carrying Value of Equity Investment

Far South East

		December 31, 2015				December 31, 2014
Gold Fields interest in FSE on December 31, 2015 was 40.0% (2014: 40.0%).
Opening balance			230.0				230.0
Accumulated equity contribution			75.4				72.1
Impairment			(101.4	)			—
Share of accumulated losses brought forward			(72.1	)			(68.5	)
Share of losses recognized for the year			(3.3	)			(3.6	)
Closing balance			128.6				230.0

X

- 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

Name:	us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=50485924&loc=d3e611225-123010

+ Details

Name:	us-gaap_SummaryInvestmentHoldingsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=gfi_FarSouthEastMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: