Major Group Investments - direct and indirect

12 Months Ended

Dec. 31, 2020

Major Group Investments - direct and indirect

42.	Major Group Investments - direct and indirect

for the year ended 31 December


						Group
						beneficial interest
		Shares held				2020			2019
	Notes	2020		2019		%			%
SUBSIDIARIES
Unlisted
Abosso Goldfields Ltd 6
- Class “A” shares	1		49,734,000		49,734,000		90.0	%		90.0	%
- Class “B” shares	1		4,266,000		4,266,000		90.0	%		90.0	%
Agnew Gold Mining Company Pty Ltd	2		54,924,757		54,924,757		100.0	%		100.0	%
Beatrix Mines Ltd 11	3		—		96,549,020		—			100.0	%
Beatrix Mining Ventures Ltd 11	3		—		9,625,001		—			100.0	%
Darlot Mining Company Pty Ltd	2		1		1		100.0	%		100.0	%
Driefontein Consolidated (Pty) Ltd 11	3		—		1,000		—			100.0	%
GFI Joint Venture Holdings (Pty) Ltd	3		311,668,564		311,668,564		100.0	%		100.0	%
GFL Mining Services Ltd	3		235,676,387		235,676,387		100.0	%		100.0	%
Gold Fields Ghana Ltd 7	1		900		900		90.0	%		90.0	%
Gold Fields Group Services (Pty) Ltd	3		1		1		100.0	%		100.0	%
Gold Fields Holdings Company Ltd	5		4,084		4,084		100.0	%		100.0	%
Gold Fields La Cima S.A. 8	4		1,426,050,205		1,426,050,205		99.5	%		99.5	%
Gold Fields Operations Ltd	3		156,279,947		156,279,947		100.0	%		100.0	%
Gold Fields Orogen Holding (BVI) Ltd	5		356		356		100.0	%		100.0	%
Gruyere Mining Company Pty Ltd	2		1		1		100.0	%		100.0	%
GSM Mining Company Pty Ltd	2		1		1		100.0	%		100.0	%
Kloof Gold Mining Company Ltd 11	3		—		138,600,000		—			100.0	%
Newshelf 899 (Pty) Ltd
- Class “A” shares 9	3		90,000,000		90,000,000		100.0	%		100.0	%
- Class “B” shares 10	3		10,000,000		10,000,000		—			—
St Ives Gold Mining Company Pty Ltd	2		281,051,329		281,051,329		100.0	%		100.0	%

Total

1	Incorporated in Ghana.

2	Incorporated in Australia.

3	Incorporated in the Republic of South Africa.

4	Incorporated in Peru.

5	Incorporated in the British Virgin Islands.

Abosso Goldfields Ltd (“Abosso”) owns the Damang operation in Ghana. The accumulated

non-controlling

interest of Abosso at 31 December 2020 amounts to US$12.0 million (2019: US$7.9 million). A dividend of US$4.5 million was advanced to

non-controlling

interest during 2020 (2019: US$nil). Refer to the segment reporting, note 41, for summarised financial information of Damang.

Gold Fields Ghana Ltd (“GFG”) owns the Tarkwa operation in Ghana. The accumulated

non-controlling

interest of GFG at 31 December 2020 amounts to US$142.7 million (2019: US$125.5 million). A dividend of US$5.1 million was advanced to

non-controlling

interest during 2020 (2019: US$2.0 million). Refer to the segment reporting, note 41, for summarised financial information of Tarkwa.

Gold Fields La Cima S.A. (“La Cima”) owns the Cerro Corona operation in Peru. The accumulated

non-controlling

interest of La Cima at 31 December 2020 amounts to US$1.9 million (2019: US$2.1 million). A dividend of US$0.5 million was paid to

non-controlling

interest during 2020 (2019: US$0.2 million). Refer to the segment reporting, note 41, financial information of Cerro Corona.

Newshelf is the holding company of GFIJVH and GFO which own the South Deep mine. In terms of the South Deep BEE agreement, there is an agreed

phase-in

participation of BEE partners over 20 years and at 31 December 2020 the BEE partners hold an economic interest of 3.33%. The accumulated

non-controlling

interest of Newshelf at 31 December 2020 amounts to US$20.0 million (2019: US$nil).

The class “B” shareholders are entitled to a cumulative preferential dividend of R20.0 million per annum for the first 10 years, R13.3 million per annum for the next five years and R6.7 million for the next five years. After 20 years, this preferential dividend ceases. The initial 10 year period expired on 6 December 2020. For the next 5 years, the holders of the “B” shares shall be entitled to the declaration and payment of a special cash dividend of R2 per “B” share in respect of 2/3 of the “B” shares, i.e. R13,3 million and in respect of one third of the “B” shares, any normal dividends declared and paid by Newshelf (ie a 3.33% economic interest in Newshelf).

11	These subsidiaries were in the process of voluntary liquidation at 31 December 2020.


					Group
	Shares held				beneficial interest
	2020		2019		2020 %			2019 %
OTHER 1
Listed associates
Rusoro Mining Limited		140,000,001		140,000,001		25.7	%		25.7	%

Joint ventures
Far Southeast Gold Resources Incorporated		1,737,699		1,737,699		40.0	%		40.0	%
Asanko Gold Ghana Limited		450,000,000		450,000,000		45.0	%		45.0	%
Adansi Gold Company Limited		100,000		100,000		50.0	%		50.0	%
Shika Group Finance Limited		10,000		10,000		50.0	%		50.0	%

Listed equity investments
Galiano Gold Inc. (formerly Asanko Gold Inc.)		21 971 657		22 354 657		9.8	%		9.9	%
Bezant Resources PLC		17,945,922		17,945,922		0.6	%		1.8	%
Cardinal Resources Limited 2		—		81,038,233		—			16.4	%
RareX Limited		710,592		710,592		0.2	%		0.2	%
Consolidated Woodjam Copper Corporation 3		16,115,740		16,115,740		16.3	%		19.9	%
Lefroy Exploration Limited 3		21,613,910		18,214,535		18.0	%		18.4	%
Magmatic Resources Limited		19,200,000		19,200,000		10.9	%		12.5	%
Orsu Metals Corp		2,613,491		2,613,491		6.1	%		6.2	%
Chakana Copper Corp 3		15,686,275		15,686,275		16.8	%		16.8	%
Amarc Resources Limited		5,000,000		—		2.8	%		0.0	%

1	Only major investments are listed individually.

2	Cardinal Resources PLC was disposed of during 2020.

3	An assessment has been performed and the Group does not have significant influence.