Gold Fields weighs growth options
SOUTH Africa-headquartered Gold Fields said last week it would only consider developing its four growth projects if they met certain criteria.
Speaking to Mining Weekly on the sidelines of the Diggers and Dealers conference, in Kalgoorlie, Gold Fields Australia executive VP Richard Weston stated that the four projects had to meet a minimum of 20% to 25% notional cash expenditure or profit margin.
At the moment, none of the four projects meet the criteria.
In Peru, Gold Fields is undertaking a new scoping study on its Chucapaca project, after an initial feasibility study completed in 2012 was thought to be suboptimal.
The new study will evaluate various new mining configur- ations for Chucapaca, includ ing the possibility of a less capital-intensive, lower-volume, but higher-grade, underground mining operation, as well as additional exploration on early adjacent targets.
At the Far Southeast project, in the Philippines, Gold Fields will focus on limited surface geotechnical drilling, as well as securing free prior informed consent, which was a prerequisite for obtaining a financial technical assistance agreement.
In Finland, at the Arctic Platinum project, a prefeasi-bility study is under way, while the Yanfolila project, in Mali, had been advanced to a resource devel-opment stage and infill drilling has been planned, along with a technical-, environmental- and social-impact study to determine whether the project can be fast-tracked to a development decision by year-end.
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