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:: Gold Fields Plans New Mill in Australia
Gold miner Gold Fields is to construct a new A$125 million, 4.5 million ton per year gold ore processing facility at its St Ives operation at Kambalda, south of Kalgoorlie in Western Australia.
The new mill will be designed to boost annual production to approximately 600 000 ounces per year and is expected to reduce plant-operating costs by between A$4 and A$5 per ton, the company said in a statement.
With the expectation of productivity improvements and further discoveries at St Ives, the mill will be designed for ready expansion to seven million tons per year throughput capacity, enabling the potential future exploitation of additional large, lower-grade areas of the resource.
John Munro, Head of International Operations for Gold Fields said the future for St Ives was exciting, driven primarily by the encouraging exploration results encountered since Gold Fields started an intensified drilling programme two years ago, and optimisation opportunities that are now being realised.
"This investment will provide the platform for ongoing optimisation of the site, ensuring that St Ives remains a world class gold asset", said Munro.
"This investment complements the recently announced $159-million expansion at the Tarkwa mine in Ghana. The commitment of some $250-million to these two mines underlines the potential of Gold Fields' offshore assets and the continued drive for organic growth at a time when acquisitions offer marginal returns", said Munro.
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