Gold Fields looks beyond Gruyere and Road ahead - The West Australian (Licensed by Copyright Agency)
New Gold Fields Australia boss Stuart Mathews has hinted at a long association with joint venture partner Gold Road Resources as the company looks to ramp-up development of the $532 million Gruyere gold project 200km east of Laverton.
The South African-headquartered company took a 50 per cent stake in Gruyere for $350 million in November but its interests lie beyond the initial 270,000oz/pa operation and into the exploration potential of the Gruyere project’s surrounds.
We saw the Gruyere investment as an opportunity to get a footprint on a new greenfields gold belt in Western Australia,” the New Zealand-born Mr Mathews said.
It adds a long-life project to our portfolio and we also see growth opportunities beyond the 13-year mine life and resource, which is well in excess of that (148mt at 1.3g/pt for 6.2moz).”
Gold Fields took a 10 per cent stake in its joint venture partner in May and is co-funding further exploration at Gruyere to the tune of $5.5 million.
But Mr Mathews’ more immediate attention will be on bringing Gruyere into production on time and within budget, with first gold expected in the first quarter of 2019.
One of his other goals will be to boost community awareness of Gold Fields, which has kept a low profile despite being WA’s second-biggest gold miner after Newmont.
I think we need to sell what we’re doing a bit better,” he said.
We’re producing 900,000oz/pa from our four WA mines, we’re making $343 million in revenue, we employ 2200 staff and contractors and we’ve steadily grown since we got here 15 years ago.”
Gold Fields’ South African-based chief executive Nick Holland will speak at the annual Diggers and Dealers Mining Forum in Kalgoorlie next month.
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