Gold Fields Considering More Possible Gaining Chances

(Miningweekly) – Gold miner Gold Fields has not ruled out further acquisition discussions following its $300-million buy-out of three mines from TSX-listed Barrick Gold last week.

talking on the sidelines of the Africa Down under seminar, Gold areas CEO Nick Holland said the company’s major focus now would, although, be to digest the lately acquired South Yilgarn assets, which accounted for some 400 000 oz/y of production.

The Yilgarn South assets comprised the Granny Smith, Lawlers and Darlot mines, which made 452 000 oz of gold in 2012 and 196 000 oz in the first half of 2013. The projects have a blended 2.6-million-ounce reserve and a 1.9-million-ounce asset.

Holland documented that Gold areas would aim on applying its own emblem of operational excellence at the freshly acquired assets, with procedures likely to resemble the company’s other Australian mines – Agnew and St Ives.

The company’s operational reconsider of the South Yilgarn tasks might encompass a staff restructure, Holland said, supplementing that the business had cut its head enumerate in Australia by some 24% over the last nine months as it restructured the business in the awaken of falling short product charges.

Meantime, Holland noted that the downward-spiraling gold price would not sway the company’s acquisition trail.