Below is a summary of Gold Fields’ share of the joint operation and includes inter-company transactions and balances:
| UNITED STATES DOLLAR | ||||||||||||||||
| 2017 | 2016 | |||||||||||||||
| US$ | A$ | US$ | A$ | |||||||||||||
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Statement of financial position |
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Non-current assets |
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Property, plant and equipment |
374.9 | 485.7 | 268.6 | 1 | 372.4 | 1 | ||||||||||
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Current assets |
7.2 | 9.3 | 3.9 | 5.4 | ||||||||||||
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Cash and cash equivalents |
5.3 | 6.8 | — | — | ||||||||||||
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Prepayments |
1.9 | 2.5 | 3.9 | 5.4 | ||||||||||||
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Total assets |
382.1 | 495.0 | 272.5 | 377.8 | ||||||||||||
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Total equity |
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Retained earnings |
(2.3 | ) | (2.9 | ) | — | — | ||||||||||
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Non-current liabilities |
11.8 | 15.2 | 0.1 | 0.2 | ||||||||||||
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Deferred taxation |
4.2 | 5.4 | 0.1 | 0.2 | ||||||||||||
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Long-term incentive plan |
7.6 | 9.8 | — | — | ||||||||||||
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Current liabilities |
372.6 | 482.7 | 272.4 | 377.6 | ||||||||||||
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Related entity loans payable |
347.3 | 449.9 | 191.7 | 265.8 | ||||||||||||
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Trade and other payables |
14.1 | 18.3 | — | — | ||||||||||||
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Deferred consideration |
11.2 | 14.5 | 67.7 | 93.8 | ||||||||||||
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Stamp duty payable |
— | — | 13.0 | 18.0 | ||||||||||||
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Total equity and liabilities |
382.1 | 495.0 | 272.5 | 377.8 | ||||||||||||
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| 1 | The Gruyere Gold Project assets of A$372.4 million were capitalised at the exchange rate on the effective date of the transaction resulting in additions to property, plant and equipment of US$275.9 million (at 2016 closing exchange rate, the A$372.4 million assets amounted to US$268.6 million). The additions of US$275.9 million (A$372.4 million) are made up of US$197.1 million (A$266.0 million) cash additions and US$78.8 million (A$106.4 million) non-cash additions. Refer note 13. |