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Gold Fields names adviser for Kyrgyzstan project review

24th May 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com)– JSE-, NYSE- and Nasdaq-listed Gold Fields has appointed investment banking group Jefferies International as exclusive financial adviser in the review of “potential strategic alternatives” for the Talas copper and gold project, in Kyrgyzstan. 

The review would examine and consider opportunities available to the company, with the objective of further enhancing shareholder value. As the review would not necessarily result in any specific strategic or financial transaction, no timetable had been set for its completion.

Gold Fields became the sole owner of the Talas project last year, after buying the remaining 40% interest from Orsu Metals for $10-million. The acquisition formed part of the South Africa-headquartered mining company’s geographic diversification strategy.

At December 31, 2012, the 100%-owned Talas project contained mineral resources of 1.7-billion pounds of copper and 6.7-million ounces of gold.

It is located in the Central Asian Orogenic Belt in Kyrgyzstan, which was widely recognised as the second-largest gold province, by endowment, outside the Witwatersrand, in South Africa.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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