Gold Fields Limited
Gold Fields Limited
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Scheduled plant shutdowns for relines of the SAG and Ball mills, and the upgrade of the pebble crushing circuit has seen Gold Road Resources’ 50%-owned Gruyere project gold production in Western Australia's NE Goldfields, fall to 66,213oz (100% basis) for the Mar 2021 qtr (Q3 21) from Q2 21’s 70,794oz at AISC up to of $A1,386oz attributable from $1,265oz.
Galiano Gold preliminary Mar 21 qtr (Q1 21) production from its 50/50 J/V Asanko Gold Mine in Ghana, W Africa, with Gold Fields has fallen to 59,999oz from Q4 20’s 65,571oz on a 100% basis.
Gold Road Resources has completed the first full year of production from its 50%-owned Gruyere gold mine in Western Australia with the posting of an inaugural consolidated net profit of $A80.8M for the 12 months to Dec 2020, a turnaround from its $4.7M loss a year before.
The Gruyere JV with Gold Fields delivered 258,173oz gold for FY2020. Gold Road’s 126,434oz sales resulted in $294.7M revenue (FY2019: $75.4M).
International miner Gold Fields and its Australian JV partner Gold Road Resources are targeting up to 50% increases in annual production over the next three years after completing the first 18 months of operations at their Gruyere gold mine in WA’s NE Goldfields.
Gruyere produced 258,173oz gold in FY2020, lower than the JV’s original guidance due to mechanical issues.
Former Amplats chief Chris Griffith has been named CEO and executive director of Gold Fields, succeeding Nick Holland on his retirement after leading the South African-based international gold miner through significant changes since 2008.
Griffith will take up the position on April 1. Gold Fields says Holland agreed to retire six months earlier than required to facilitate the leadership transition.
Hard-rock underground specialist Barminco will continue to provide full underground mining services for Gold Fields at its 100%-owned Agnew gold mine at Leinster in Western Australia through to December 2023 with the award of a new contract extension valued at over $A200M.
The contract extension results from Gold Fields’ increase in development and production physicals at the 0.5Mozpa underground mine.
Australian hard-rock underground mining contractor Barminco has made its entry into the New South Wales mining industry for the first time with the award of an eight-month decline development contract by mid-tier miner Evolution Mining at its Cowal gold operation 350km west of Sydney.
The Perenti Group company has also been engaged by Evolution to participate in early contractor involvement processes as part of its underground feasibility study for the world-class openpit mine.
Western Australia’s Gruyere gold mine has met its revised production and costs guidance for the year to end December, posting FY2020 output of 258,173oz gold at AISC of $A1,265/oz for 50-50 JV partners Gold Fields and Gold Road Resources.
The forecasts for the NE Goldfields mine were reduced to 250,000-275,000oz at $1,250-1,350/oz last September, from the original 250,000-285,000oz at $1,150-1,250/oz, after a mechanical breakdown.
MACA is buying Downer EDI’s Western Australian surface contract mining business, Mining West, for $A175M, made up of an upfront $109M and $66M in deferred payments.
Gruyere gold mine partners Gold Fields and Gold Road Resources have awarded contracts for installation of a renewable energy hybrid power system that will support the expansion of the project in Western Australia to a targeted 10Mtpa plant throughput.
Current nameplate capacity at the project 200km E of Laverton is 8.2Mtpa.