HomeEnergy MineralsGold Fields decision this year on uranium production

Gold Fields decision this year on uranium production

Goldfields Limited’s
South Deep gold
mine
 
Johannesburg, South Africa — MININGREVIEW.COM — 07 October 2010 – Gold Fields Limited “’ the world’s fourth-largest listed gold miner “’ plans to make a decision this year as to when it will proceed with its plan to build a uranium plant, which would amount to the group’s "fifth mine" in South Africa.

Confirming this here in an interview with Reuters, CEO Nick Holland said: “We are quite bullish on uranium, the price is certainly going to go higher.”

Gold Fields has said in the past that the proposed uranium plant would treat 402Mt of historical tailings dams on surface “’ sufficient to produce 58Mlbs of uranium and around 4.2Moz of gold in total.

“It is something that will definitely get off the ground, the only question is when,” said Holland, adding that the company might decide to develop the project with a partner.

Turning to gold, he said the company was on track to reach its annual production target of between 3.5 to 3.8Moz in the year to the end-June 2011, and was pushing ahead to reach its 1Moz per quarter goal within the next 12 to 24 months, largely dependent on the ramp-up at its South Deep mine in South Africa.

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