https://www.engineeringnews.co.za

Gold Fields sells its stake in JV partner

23rd August 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold miner Gold Fields has sold more than 87.11-million of its shares in joint venture (JV) partner Gold Road Resources for A$126.3-million.

Gold Fields has told Gold Road that the share sale, which was conducted through an underwritten book build process led by Macquarie Capital, was part of a broader debt reduction strategy and capitalized on the significant gains from its original investment in Gold Road in 2017.

The sale of the Gold Road interest followed on from Gold Fields' disposal of its 19.9% interest in Maverix Metals for $68-million and its 19.9% interest in Red 5 for A$29.6-million.

Gold Fields has said that it remains fully committed to the Gruyere JV project, and had no intention of exiting the project. The JV partners are currently progressing the ramp-up of the Gruyere mill, in Western Australia.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Columbus Stainless
Columbus Stainless

Columbus Stainless, based in Middelburg, Mpumalanga, is Africa’s only producer of stainless steel flat products. In addition, Columbus is the only...

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.057 0.095s - 140pq - 2rq
Subscribe Now