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Gold Fields lifts Invincible - Kalgoorlie Miner

Friday, 16 February 2018

South African mining giant Gold Fields has tipped dramatic developments at its Invincible underground mine, flagging its importance to ensuring St Ives’ longstanding production.

In a conference call from Johannesburg after the release of its qSouth African mining giant Gold Fields has tipped dramatic developments at its Invincible underground mine, flagging its importance to ensuring St Ives’ longstanding production.

In a conference call from Johannesburg after the release of its quarterly financial report yesterday, Gold Fields chief executive Nicholas Holland highlighted a long-term opportunity at Invincible.

Underground mining at the project, based within Gold Fields’ St Ives operation near Kambalda, started last quarter after the company bolstered expenditure at the site.

Invincible’s open pit is expected to be phased out in 2019, while the life of mine runs to 2020.

Mr Holland said the Invincible underground mine would be influential to future production at St Ives.

“We will be operating the last stages of the Invincible (open) pit along with the underground in tandem through to at least the end of 2019,” he said.

“When the pit ends we will have Invincible underground as the only Invincible pit, but at the same time we are looking to try and join the dots ... to try and create something bigger for a longer life of mine.

“There is quite a lot of dynamic changes that we will see over the next three or four years on Invincible.”

Invincible underground mine returned 2900 tonnes at 2.45g/t, delivering 231 ounces of gold, in the December quarter.

The haul comes after Gold Fields tipped $16 million more into St Ives last year, increasing the annual expenditure to $204 million from $188 million in 2016.

About $21 million was used to fund the Invincible’s underground operations. In the presentation to investors, Mr Holland said Goldfields would place a significant emphasis on Invincible as part of its scheduled work at St Ives.

“The big focus is on driving further extensions to Invincible,” he said.

“We have further targets along this trend, which is about 30km, we’ve got visible gold intercepts in multiple areas that we’ve drilled.”


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