Gold Fields is a South African-headquartered gold mining company with nine producing mines across Australia, South Africa, Ghana, Chile, and Peru, plus a major underground development project (Windfall) in Quebec, Canada. Gold Fields mines gold ore from underground and open-pit operations, processes it on-site, and sells gold at spot prices to bullion banks and refiners. The company is a price-taker with no meaningful pricing power, so profitability is primarily driven by the gold price and by keeping unit costs below the prevailing spot price. The key cost metric is AISC (all-in sustaining costs, which captures operating costs plus sustaining capital). Australia is the largest producing region, accounting for roughly 44% of attributable production, with key assets including Gruyere (recently consolidated to 100% ownership), St Ives, Granny Smith, and Agnew. South Deep in South Africa is one of the world's deepest bulk-mechanized gold mines, with an 83-year mine life and strong operating leverage. Salares Norte in Chile is one of the lowest-cost gold mines globally and recently reached steady-state production. Ghana is a near-term risk, as the Tarkwa mining leases expire in April 2027 and are subject to renewal negotiations amid rising resource nationalism. Gold Fields grows through bolt-on M&A, brownfields exploration near existing mines, and greenfields exploration through stakes in junior miners. The Windfall project targets first gold in 2029 at roughly 300koz per year.