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Risk Management Activities (Tables)
 12 Months Ended
Dec. 31, 2020
Statement [LineItems]  
Summary of gain loss from derivative financial instruments
The following table summarises the (loss)/gain on financial instruments recognised in profit or loss for the derivative financial instruments entered into by Gold Fields:
 
   
United States Dollar
 
Figures in millions unless otherwise stated
  
2020
   
2019
   
2018
 
South Deep gold hedge
  
 
(84.7
) 
   (25.8)    (3.2) 
Ghana gold hedge
  
 
(78.1
) 
   (36.6)    22.0 
Ghana oil hedge
  
 
(16.9
) 
   2.5    1.5 
Peru copper hedge
  
 
(14.0
) 
   —      9.2 
Australia gold hedge
  
 
(129.6
) 
   (178.8)    (4.6) 
Australia oil hedge
  
 
(8.9
) 
   2.3    1.4 
Australia foreign currency hedge
  
 
(0.3
) 
   (7.2)    (9.1) 
Salares Norte foreign currency hedge
  
 
91.2
 
   —      —   
Maverix warrants – gain on fair value
  
 
1.3
 
   4.2    3.8 
Gain on fair value on disposal of Maverix
  
 
—  
 
   2.5    —   
Other
  
 
1.1
 
   (1.1)    —   
   
 
 
   
 
 
   
 
 
 
(Loss)/gain on financial instruments
  
 
(238.9
) 
   (238.0)    21.0 
   
 
 
   
 
 
   
 
 
 
Comprised of:
               
Unrealised gain/(loss) and prior year
mark-to-market
reversals on derivative contracts
  
 
176.4
 
   (112.6)    (36.6) 
Rerealised (loss)/gain on derivative contracts
  
 
(416.6
) 
   (132.1)    53.8 
Maverix warrants – gain on fair value
  
 
1.3
 
   4.2    3.8 
Gain on fair value on disposal of Maverix
  
 
—  
 
   2.5    —   
   
 
 
   
 
 
   
 
 
 
(Loss)/gain on financial instruments
  
 
(238.9
) 
   (238.0)    21.0 
   
 
 
   
 
 
   
 
 
 
Schedule Of Effect Of A Change In Loss On Financial Instruments To Value The Gold Derivative Contracts
1
 
In determining the interest rate sensitivity of the AUD XAU Puts only the impact of the specified interest rate change on the risk free interest rate as used in the Black- Scholes Option pricing was considered. 
Credit risk [member]  
Statement [LineItems]  
Schedule of Combined Maximum Credit Risk Exposure
The combined maximum credit risk exposure of the Group is as follows:
 
   
United States Dollar
 
Figures in millions unless otherwise stated
  
20
20
   2019 
Environmental trust funds
  
 
79.3
 
   69.5 
Trade and other receivables
1
  
 
53.2
 
   74.2 
Loan advanced - contractor
  
 
68.4
 
   —   
Derivative financial assets
  
 
113.3
 
   1.1 
Cash and cash equivalents
  
 
886.8
 
   515.0 
   
 
 
   
 
 
 
 
1
 
Trade and other receivables above exclude VAT, import duties, prepayments, payroll receivables and diesel rebates amounting to US$186.9 million (2019: US$61.8 million).
Summary of the Exposure to Credit Risk for Trade Receivables by Geographic Region
At 31 December 2020, the exposure to credit risk for trade receivables by geographic region was as follows:
 
   
2020
US$ million
   2019
US$ million		 
South Africa
  
 
—  
 
   —   
Ghana
  
 
14.3
 
   0.8 
Australia
  
 
2.7
 
   —   
Peru
  
 
23.7
 
   22.8 
   
 
 
   
 
 
 
Total trade receivables
  
 
40.7
 
   23.6 
   
 
 
   
 
 
 
Summary of Analysis for Nonderivative Financial Liabilities and Derivative Financial Liabilities
The following are the contractually due undiscounted cash flows resulting from maturities of all financial liabilities, including interest payments:
 
   
United States Dollar
 
Figures in millions unless otherwise stated
  
Within one
year
   
Between one
and five
years
   
After five
years
   
Total
 
2020
                    
Trade and other payables
  
 
452.0
 
  
 
—  
 
  
 
—  
 
  
 
452.0
 
Oil and copper derivative contracts
  
 
21.8
 
  
 
7.3
 
  
 
—  
 
  
 
29.1
 
Borrowings
1
                    
- US$ borrowings
2
                    
- Capital
3
  
 
83.5
 
  
 
750.0
 
  
 
500.0
 
  
 
1,333.5
 
- Interest
  
 
62.0
 
  
 
188.6
 
  
 
103.4
 
  
 
354.0
 
- A$ borrowings
4
                    
- Capital
  
 
—  
 
  
 
200.0
 
  
 
—  
 
  
 
200.0
 
- Interest
  
 
4.5
 
  
 
8.6
 
  
 
—  
 
  
 
13.1
 
Environmental rehabilitation costs
5
  
 
19.6
 
  
 
34.3
 
  
 
412.7
 
  
 
466.6
 
Finance lease liabilities
  
 
88.4
 
  
 
228.7
 
  
 
261.2
 
  
 
578.3
 
South Deep dividend
  
 
0.9
 
  
 
3.6
 
  
 
2.3
 
  
 
6.8
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
  
 
732.7
 
  
 
1,421.1
 
  
 
1,279.6
 
  
 
3,433.4
 
   
 
 
   
 
 
   
 
 
   
 
 
 
2019
                    
Trade and other payables
   385.3    —      —      385.3 
Gold and foreign exchange derivative contracts
   127.6    —      —      127.6 
Borrowings
1
                    
- US$ borrowings
2
                    
- Capital
3
   685.9    500.0    500.0    1,685.9 
- Interest
   81.0    209.1    134.0    424.1 
- A$ borrowings
4
                    
- Capital
   —      168.5    —      168.5 
- Interest
   5.5    2.2    —      7.7 
Environmental rehabilitation costs
5
   11.9    28.4    396.0    436.3 
Finance lease liabilities
   63.9    178.2    205.3    447.4 
South Deep dividend
   1.4    3.8    3.3    8.5 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
   1,362.5    1,090.2    1,238.6    3,691.3 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
1
 
Spot Rate: R14.69 = US$1.00 (2019: R14.00 = US$1.00).
2
 
USD borrowings - Spot LIBOR (one month fix) rate adjusted by specific facility agreement: 0.14388% (2019: 1.7625% (one month fix)).
3
 
The capital amounts of the
5-year
notes issue and the US$500
10-year
notes issue (2019: US$1 billion notes issue, US$500 million
5-year
notes issue and the US$500
10-year
notes issue) in the table above represent the principal amounts to be repaid and differ from the carrying values presented in the statement of financial position due to the unwinding of transaction costs capitalised at inception.
4
 
AUD borrowings - Spot Bank Bill Swap Bid Rate (BBSY) (one month fix) rate adjusted by specific facility agreement: 0.06% (2019: 0.92%).
5
 
Although environmental rehabilitation costs do not meet the definition of a financial liability, the Group included the gross closure cost estimate in the undiscounted cash flows as it represents a future cash outflow (refer note 25.1). In South Africa and Ghana, US$79.3 million (2019: US$69.5 million) of the environmental rehabilitation costs is funded through the environmental trust funds.
Equity price risk [member]  
Statement [LineItems]  
Summary of Effect of Change in Finance Expense on Group's Shareholders' Equity
The table below summarises the impact of increases/decreases of the equity prices of listed investments at fair value through OCI on the Group’s shareholders’ equity. The analysis is based on the assumption that the share prices quoted on the exchange have increased/decreased with all other variables held constant and the Group’s investments moved according to the historical correlation with the index.
 
   
United States Dollar
 
Senstivity to equity security price
  
(Decrease)/increase in equity price
 
Figures in millions unless otherwise stated
  
(10.0%)
   
(5.0%)
   
5.0%
   
10.0%
 
2020
                    
(Decrease)/increase in OCI
1
  
 
(4.2
) 
  
 
(2.1
) 
  
 
2.1
 
  
 
4.2
 
2019
                    
(Decrease)/increase in OCI
1
   (4.8)    (2.4)    2.4    4.8 
   
 
 
   
 
 
   
 
 
   
 
 
 
1
 
Spot rate: R14,69 = US$1.00 (2019: R14.00 = US$1.00)
   
United States Dollar
 
Sensitivity to preference share price risk
  
(Decrease)/increase in discount rate
 
Figures in millions unless otherwise stated
  
(1.0%)
   
(2.0%)
   
2.0%
   
1.0%
 
2020
                    
Increase/(decrease) in OCI
  
 
4.1
 
  
 
8.4
 
  
 
(7.4
) 
  
 
(3.8
) 
2019
                    
Increase/(decrease) in OCI
   3.7    7.6    (6.7)    (3.4) 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
Sensitivity to preference share price risk
  
(Decrease)/increase in
timing of cash flows
 
Figures in millions unless otherwise stated
  
1 year earlier
   
1 year later
 
2020
          
Increase/(decrease) in OCI
  
 
6.4
 
  
 
(7.2
) 
2019
          
Increase/(decrease) in OCI
  
 
4.9
 
  
 
(7.5
) 
   
 
 
   
 
 
 
Sensitivity to interest rates [member]  
Statement [LineItems]  
Summary of Effect of Change in Finance Expense on Group's Profit or Loss had LIBOR and Prime Differed as Indicated
The table below summarises the effect of a change in finance expense on the Group’s profit or loss had LIBOR, JIBAR, Prime and BBSY differed as indicated. The analysis is based on the assumption that the applicable interest rate increased/decreased with all other variables held constant and is calculated on the weighted average borrowings for the year. All financial instruments with fixed interest rates that are carried at amortised cost are not subject to the interest rate sensitivity analysis.
 
   
United States Dollar
 
Sensitivity to interest rates
  
Change in interest expense for a nominal change in interest rates
 
Figures in millions unless otherwise stated
  
(1.5%)
  
(1.0%)
  
(0.5%)
  
0.5%
   
1.0%
   
1.5%
 
2020
                           
Sensitivity to LIBOR interest rates
  
 
(1.5
) 
 
 
(1.0
) 
 
 
(0.5
) 
 
 
0.5
 
  
 
1.0
 
  
 
1.5
 
Sensitivity to BBSY interest rates
1
  
 
(2.1
) 
 
 
(1.4
) 
 
 
(0.7
) 
 
 
0.7
 
  
 
1.4
 
  
 
2.1
 
Sensitivity to JIBAR and prime interest rates
2
  
 
—  
 
 
 
—  
 
 
 
—  
 
 
 
—  
 
  
 
—
 
  
 
—
 
   
 
 
  
 
 
  
 
 
  
 
 
   
 
 
   
 
 
 
Change in finance expense
  
 
(3.6
) 
 
 
(2.4
) 
 
 
(1.2
) 
 
 
1.2
 
  
 
2.4
 
  
 
3.6
 
   
 
 
  
 
 
  
 
 
  
 
 
   
 
 
   
 
 
 
2019
                           
Sensitivity to LIBOR interest rates
   (5.1)   (3.4)   (1.7)   1.7    3.4    5.1 
Sensitivity to BBSY interest rates
1
   (0.7)   (0.4)   (0.2)   0.2    0.4    0.7 
Sensitivity to JIBAR and prime interest rates
2
   (0.8)   (0.5)   (0.3)   0.3    0.5    0.8 
   
 
 
  
 
 
  
 
 
  
 
 
   
 
 
   
 
 
 
Change in finance expense
   (6.6)   (4.3)   (2.2)   2.2    4.3    6.6 
   
 
 
  
 
 
  
 
 
  
 
 
   
 
 
   
 
 
 
 
1
 
Average rate: A$0.69= US$1.00 (2019: A$0.70 = US$1.00)
2
 
Average rate: R16.38 = US$1.00 (2019: R14.46 = US$1.00)
Schedule Of Effect Of A Change In Loss On Financial Instruments To Value The Gold Derivative Contracts The tables below summarise the effect of a change in the loss on financial instruments on the Group’s profit or loss in case of changes in the key inputs used to value the gold derivative contracts. The first analysis is based on the assumption that the gold forward prices have increased/decreased with all other variables held constant. The second analysis is based on the assumption that the interest rates increased/decreased with all other variables held constant.
   
United States Dollar
 
Sensitivity to gold forward prices
  
(Decrease)/increase in gold forward prices
 
Figures in millions unless otherwise stated
  
(US$150)
   
(US$100)
   
(US$50)
   
US$50
  
US$100
  
US$150
 
2020
                            
(Increase)/decrease in loss on financial instruments
  
 
35.4
 
  
 
20.1
 
  
 
8.6
 
  
 
(6.5
) 
 
 
(11.4
) 
 
 
(15.0
) 
2019
                            
(Increase)/decrease in loss on financial instruments
  
 
120.8
 
  
 
85.7
 
  
 
45.4
 
  
 
(48.7
) 
 
 
(99.4
) 
 
 
(151.1
) 
   
 
 
   
 
 
   
 
 
   
 
 
  
 
 
  
 
 
 
  
   
United States Dollar
 
Sensitivity to interest rat
es
1
  
(Decrease)/increase in interest rates
 
Figures in millions unless otherwise stated
  
(1.5%)
   
(1.0%)
   
(0.5%)
   
0.5%
  
1.0%
  
1.5%
 
2020
                            
(Increase)/decrease in loss on financial instruments
  
 
(5.2
)
 
  
 
(2.9
)
 
  
 
(0.8
)
 
  
 
3.0
 
 
 
4.8
 
 
 
6.4
 
2019
                            
(Increase)/decrease in loss on financial instruments
  
 
5.9
 
  
 
4.0
 
  
 
2.0
 
  
 
(2.1
) 
 
 
(4.2
) 
 
 
(6.3
) 
   
 
 
   
 
 
   
 
 
   
 
 
  
 
 
  
 
 
 

1
 
In determining the interest rate sensitivity of the AUD XAU Puts only the impact of the specified interest rate change on the risk free interest rate as used in the Black- Scholes Option pricing was considered. 
Currency risk [member]  
Statement [LineItems]  
Schedule Of Effect Of A Change In Loss On Financial Instruments To Value The Gold Derivative Contracts
The tables below summarise the effect of a change in the loss on financial instruments on the Group’s profit or loss in case of changes in the key inputs used to value the Salares Norte foreign currency contracts. The first analysis is based on the assumption that the Chilean Peso exchange rates have increased/decreased with all other variables held constant. The second analysis is based on the assumption that the interest rates increased/decreased with all other variables held constant.
 
   
United States Dollar
 
Sensitivity to exchange rate
  
(Decrease)/increase in Chilean peso exchange rate
 
Figures in millions unless otherwise stated
  
(15.0%)
   
(10.0%)
   
(5.0%)
   
5.0%
  
10.0%
  
15.0%
 
2020
                            
(Increase)/decrease in loss on financial instruments
  
 
74.2
 
  
 
49.5
 
  
 
24.7
 
  
 
(24.7
)
 
 
 
(49.5
)
 
 
 
(74.2
)
 
   
 
 
   
 
 
   
 
 
   
 
 
  
 
 
  
 
 
 
  
   
United States Dollar
 
Sensitivity to interest rates
  
(Decrease)/increase in interest rates
 
Figures in millions unless otherwise stated
  
(1.5%)
   
(1.0%)
   
(0.5%)
   
0.5%
  
1.0%
  
1.5%
 
2020
                            
(Increase)/decrease in loss on financial instruments
  
 
(7.3
)
 
  
 
(4.8
)
 
  
 
(2.4
)
 
  
 
2.4
 
 
 
4.8
 
 
 
7.1