• Most Popular
  • Most Shared

Gold Fields holds forecast at new Peru mine steady

Thu Jun 18, 2009 10:26pm EDT

Stocks

   

LIMA, June 18 (Reuters) - Gold Fields (GFIJ.J), the world's No. 4 gold producer, said on Thursday its new Peruvian mine Cerro Corona should churn out around 350,000 equivalent ounces of gold per year in 2009 and 2010.

Of that total, the South Africa-based company expects to produce around 140,000 ounces of gold and 30,000 tonnes of copper, said the firm's Peru chief, Juan Luis Kruger.

"(Estimates) are in line with what we had forecast," he told reporters at a mining conference in Lima.

Gold Fields has so far invested $550 million in Cerro Corona, which began operations last year and has a 15-year life expectancy. The company plans to invest another $250 million over the full life of the mine, which is Gold Fields' first foray into Peru. (Reporting by Dana Ford; Editing by Clarence Fernandez)



More from Reuters

Photo

White House says Congress will pass health bill

WASHINGTON (Reuters) - The White House on Sunday urged support for a compromise that would allow healthcare reform legislation to pass the U.S. Senate and pushed back against other Democrats who said the compromise gives away too much.

» More Top News
A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

U.S.
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review