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Westgold, S2R shake hands on gold tenements

By: Megan van Wyngaardt     13th February 2018 ASX-listed companies Westgold Resources and S2 Resources (S2R) have entered an agreement, whereby Westgold would acquire S2R's interest in the Polar Bear project, its 80% interest in the Eundynie joint venture and the Norcott project, in Western Australia. The company would take over all the... 

Gold Fields expects up to 12% decrease in FY17 HEPS

By: Megan van Wyngaardt     8th February 2018 Dual-listed Gold Fields on Thursday said it expected as much as a 12% drop in its headline earnings per share (HEPS) for the 2017 financial year. HEPS would be between $0.23 to $0.26 apiece. 

Gold Fields set for ‘year of reinvestment’, announces R2.28bn South Deep growth plan 

By: Natasha Odendaal     16th February 2017 The South Deep gold mine achieved several milestones in 2016 as interventions implemented over the past two years started yielding results and dual-listed Gold Fields will now embark on a new R2.3-billion rebase plan at the mine to create a defensive asset in a spiralling industry. Equipped with... 

Gold Fields applies for St Ives gold mine expansion

By: Esmarie Iannucci     9th January 2017 South Africa-based gold miner Gold Fields has applied to the Western Australian Environmental Protection Authority (EPA) to extend the life of its 400 000 oz/y St Ives gold mine to 2028. In its ‘Beyond 2018’ plan, which was submitted to the EPA in January, Gold Fields is seeking approval to... 

Australia’s Gold Production Hits 12-Year High

29th February 2016 Australia’s gold production in 2015 totalled 285 tonnes, almost two tonnes more than in 2014 and the highest annual total since 2003, according to Melbourne mining consultants Surbiton Associates Pty Ltd. Production in the December quarter 2015 was 73 tonnes, slightly above that produced in the... 

Australian gold production tops 12-year high

29th February 2016 Australia’s gold production reached its highest level in 12 months at the end of 2015, with the country producing 285 t of gold, nearly 2 t more than in 2014. Mining consultancy Surbiton Associates reported over the weekend that gold production during the December quarter reached 73 t, which was... 

Salt Lake’s Beta Hunt mine on track to double output by year-end

By: Henry Lazenby     16th February 2016 Takeover target Salt Lake Mining (SLM) is on track to double output from its Beta Hunt mine, a low-cost nickel and gold producer located in the prolific Kambalda mining district of Australia, even as TSX-listed Royal Nickel prepares to acquire the asset in a deal that would see it transform into... 

Gold Fields’ share soars as South Deep raises game, Damang tested

By: Martin Creamer     19th November 2015 Gold mining major Gold Fields saw its share price soar on Thursday owing to its South Deep mine raising its game and net earnings and cash flow lifting in the three months to September 30, which were also fatality-free. The Johannesburg- and New York-listed company’s only South African gold mine... 

Macmahon wins Gold Fields equipment contract

By: Esmarie Iannucci     19th November 2015 Gold miner Gold Fields has appointed ASX-listed Macmahon Holdings to provide a hire fleet of large-scale opencut mining equipment and associated services at the St Ives mine, in Western Australia. The fleet, which has been sourced from Macmahon’s idle equipment inventory, would be used to... 

Australian gold production on the rise

31st August 2015 Australian gold production rose nearly 3 t, or 4%, to 72 t in the three months to June 30, says mining consultancy Surbiton Associates. In its latest survey of the Australian gold mining industry, Surbiton found that gold output for the financial year ended June increased by 1% to around 285 t,... 

Gold Fields swings to black in Q2, but cuts guidance at South Deep

By: Natalie Greve     20th August 2015 While a solid showing from its Peruvian, Ghanaian and Australian operations pushed Gold Fields’ second-quarter earnings to $22-million, the company has cautioned of a likely output slip at its South Deep gold mine, located along the Witwatersrand basin, narrowing the operation’s forecast yearly... 

Gold Fields spends big on Oz exploration

By: Esmarie Iannucci     5th August 2015 Gold miner Gold Fields will continue with its massive exploration spend in Australia over the next three to five years. VP for Australian operations Stuart Mathews on Wednesday said the company would spend between $85-million and $90-million on exploration work during 2015, with spending levels... 

Seasonal weaknesses, mine scheduling swing Gold Fields to Q1 loss

By: Natalie Greve     7th May 2015 In line with its yearly guidance, Gold Fields on Thursday posted losses attributable to shareholders of $14-million for the quarter ended March 31, saying seasonal production weakness at its South African operations owing to the Christmas break and mine scheduling elsewhere had dampened overall... 

Phoenix raises cash for St Ives buy

By: Esmarie Iannucci     9th February 2015 Junior gold producer Phoenix Gold has placed about 50-million shares, at 10c each to raise A$5-million, with the miner on Monday announcing a share purchase plan (SPP) to raise a further A$1-million. The placement price represented a 13% discount to Phoenix’s last closing price on February 3,... 

Gold Fields set to mine new deposit at St Ives by year-end

By: Esmarie Iannucci     5th August 2014 South Africa-based gold miner Gold Fields was expected to start openpit mining at its Invincible deposit, at the St Ives project in Western Australia, by the fourth quarter of this year. St Ives exploration manager Julian Woodcock told delegates at the Diggers & Dealers conference that the... 

Metals X restructures Higginsville royalty, looks to reinvest

By: Esmarie Iannucci     22nd April 2014 Diversified junior Metals X has restructured the royalty over the Higginsville gold operation, held by Morgon Stanley. The Higginsville operation was acquired as part of Metals X’s A$44-million takeover of fellow-listed Alacer Gold’s Australian business unit in October of last year. 

Gold Fields sustainable at gold price of $1 300  

By: Leandi Kolver     20th November 2013 For the three months ended September 30, JSE-listed Gold Fields managed to reduce its all-in sustaining costs by 23% quarter-on-quarter, to $1 089/oz, which put the company in a sustainable business position at a gold price of $1 300/oz, CEO Nick Holland said on Wednesday. The company’s total... 

Gold Fields to consider further potential acquisition opportunities

By: Esmarie Iannucci     28th August 2013 Gold miner Gold Fields has not ruled out further acquisition negotiations following its $300-million buy-out of three mines from TSX-listed Barrick Gold last week. Speaking on the sidelines of the Africa Downunder conference, Gold Fields CEO Nick Holland said the company’s main focus now would,... 

South Africa now smallest piece of new Australia-heavy Gold Fields 

By: Martin Creamer     22nd August 2013 Gold Fields – once South Africa’s second-largest gold producer – said on Thursday that it had “improved its sovereign risk profile” by cutting its South Africa production the smallest of its four global regions – and dramatically increasing its Australian production base to its biggest by far.... 

Gold Fields plunges into Q2 loss, 5% employee cut

By: Martin Creamer     22nd August 2013 South African gold major Gold Fields on Thursday announced a announced a net loss from continuing operations for the June quarter, mainly as a result of impairments and the low gold price. The net loss for the June 2013 quarter of R1,169-million ($129-million) compared with earnings of... 

Barrick sells three Australian mines to Gold Fields

By: Esmarie Iannucci     22nd August 2013 South Africa-based Gold Fields has agreed to buy TSX-listed Barrick Gold’s Yilgarn South assets, in Western Australia, for $300-million. The Yilgarn South assets comprised the Granny Smith, Lawlers and Darlot mines, which produced 452 000 oz of gold in 2012 and 196 000 oz in the first half of 2013. 

Gold Fields weighs growth options

By: Esmarie Iannucci     6th August 2013 South Africa-headquartered Gold Fields on Tuesday said that it would only consider developing its four growth projects if they met certain criteria. Speaking to Mining Weekly Online on the sidelines of the Diggers and Dealers conference, in Kalgoorlie, Gold Fields Australia executive VP Richard... 

Healthy margins, cost-cutting cushion Gold Fields for future

By: Martin Creamer     10th May 2013 Slimmed-down gold major Gold Fields sat pretty on a 50% operating margin in the March quarter, the first quarter since the unbundling of its mature underground mines into Sibanye Gold. With cost reduction, Gold Fields is seen as positioned to absorb the pressure befalling South Africa’s gold... 

Gold Fields South African production now down to 13% – CEO 

By: Martin Creamer     14th February 2013 Production from South Africa is now down to 13% of its total production, Gold Fields CEO Nick Holland said on Thursday. Prior to Gold Fields’ the unbundling out of the company of its labour-intensive narrow-reef mines, South African production made up close to half of total production. 

Company Announcement: Focus Commences New Drill Programs; Targeting Expansion of Ore Reserves & Mineral Resources

15th January 2013 Drilling commences at Treasure Island, Coolgardie and Laverton 

Sibanye Gold promises leverage to high rand gold price – Holland

By: Martin Creamer     29th November 2012 A peer comparison shows that the gold mines of the newly launched Sibanye Gold, which promises strong leverage to the high rand gold price of R500 000/kg, produced more South African ounces, at lower cost, than the JSE-listed Harmony Gold in the six months to June. In announcing Sibanye’s... 

Gold Fields moves to owner-operator model at St Ives

By: Esmarie Iannucci     8th August 2012 Gold miner Gold Fields would move to an owner-operator model at its St Ives mine, in Western Australia, in the hopes of duplicating the success experienced at its Agnew operations. Addressing the last day of the Diggers and Dealers conference, Gold Fields Australia’s VP for operations, Timothy... 

Company Announcement: Treasure Island Drilling Update

22nd March 2012 Focus Minerals Ltd, is pleased to update the market with preliminary results from its recent infill drilling program at its 100% owned Treasure Island Gold Project on Lake Cowan 

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