Perth, Australia — MININGREVIEW.COM — 16 March 2010 – Gold Fields “’ Africa’s second biggest gold producer “’ is to spend around US$1,1-billion (R8.25 billion) over the next five years to reach production of 750 000 oz pa at its South Deep operation.
Addressing the Paydirt Gold conference here, company executive vice-president for exploration and business development Tommy McKeith said that production at South Deep had already increased from less than 30 000 oz a quarter to around 75 000 oz a quarter. The South Deep operation currently had a resource of around 30 million ounces, which would give the operation a life-of-mine of around 45 years, at 750 000 oz pa.
McKeith went on to say that Gold Fields was currently investigating the possibility of ramping up production at South Deep at a faster pace, by deepening and refurbishing the mine’s South Shaft.
By doing this, Gold Fields would be able to increase ore production from 330 000 t/m to around 450 000 t/m. But he hastened to point out that the deepening and refurbishing of the South Shaft had not been quantified at this stage, and did not make up part of the US$1.1-billion (R8.25 billion) spend.