Gold Fields sells Finnish platinum project
JOHANNESBURG (miningweekly.com) – Dual-listed Gold Fields has sold its palladium-rich, polymetallic Arctic platinum project (APP), in northern Finland, to Finnish subsidiary of private equity fund CD Capital Natural Resources Fund III.
The purchase consideration includes $40-million in cash and a 2% net smelter return royalty on all metals, with 1% capped at $20-million and 1% uncapped.
“The divestment of APP is consistent with our strategy of divesting noncore assets, and reinforces the focus that Gold Fields continues to show in relation to its asset portfolio,” said Gold Fields CEO Nick Holland.
Gold Fields will maintain long-term exposure through the royalty, he added.
The sale includes all of the project assets for APP, including the Suhanko mining licence and associated real estate, all other mining and exploration properties, project permits and all other project-related assets.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation