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Investments (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure of detailed information about financial instruments [abstract]  
Summary of investments
United States Dollar
Figures in millions unless otherwise stated
2023
2022
Listed
At fair value through OCI1
65.7
34.5
Unlisted
Asanko redeemable preference shares2
99.7
60.3
Other3
40.5
17.3
Investments
205.9
112.1
Asanko redeemable preference shares – recognised as an asset held for sale2
(99.7)
—
Total investments
106.2
112.1
1The listed investments comprise mainly investments in Galiano Gold Inc. (formerly Asanko Gold Inc.) of US$20.2 million (2022: US$11.7 million),
Magmatic Resources Limited of US$0.7 million (2022: US$1.2 million), Chakana Copper Corp of US$1.5 million (2022: US$2.0 million), Lefroy
Exploration Limited of US$2.6 million (2022: US$3.8 million,) Torq Resources Inc of US$2.5 million (2022: US$8.4 million), Tesoro Gold Limited of
US$4.1 million (2022: US$4.4 million) and Mineral Resources Limited of $31.2 million (2022: US$nil). Refer note 45 for further details of listed
investments.
2Consists of 132,439,999 (2022: 132,439,999) redeemable preference shares at par value for US$132,439,999 (2022: US$132,439,999).
3Other comprises bonds.
The following table shows a reconciliation from the fair value at the beginning of the year to the fair value of the redeemable preference shares at the
end of the year (level 3 financial instrument):
United States Dollar
Asanko redeemable preference shares
2023
2022
Fair value at beginning of the year
60.3
94.5
Net change in fair value (recognised in OCI)
39.4
(34.2)
Fair value at end of the year
99.7
60.3
The fair value is based on the expected cash flows of the Asanko Gold Mine and this resulted in a upward fair value adjustment through other
comprehensive income of US$39.4 million (2022: downward adjustment of US$34.2 million) in 2023, both years due to the change in the timing of the
expected cash flows.
The key inputs used in the valuation of the fair value are the discount rate of 19.9% (2022: 16.7%), the timing of the cash flows and gold price
assumptions.
Any reasonable change in the timing of the cash flows or market related discount rate could materially change the fair value of the redeemable
preference shares (refer to note 41 for sensitivity analysis performed).
On 21 December 2023, Gold Fields announced the divestment of its 45% shareholding in Asanko Gold (both the preference shares and equity-accounted
investee). The Asanko redeemable preference shares have been presented as an asset held for sale. Refer to notes 15 and 18 for further details.