Peru - Gold Fields will duplicate gold-mine It closed Crown

The South African company Gold Fields will consider to duplicate the size of his golden project and copper for 450 million dollars of Hill Crowns in Peru, once the mine reaches the full production in December.

The chief of South American operations of Gold Fields, Juan Luis Kruger, declared Business Report of South Africa that the equivalent of the reservations of the company in Peru, which include gold and mineral rich in copper, they might reach up to 5,7 million ounces, superficially from 5 million ounces, due to the biggest prices of the metal.

The feasibility studies of the proposed expansion would be ready in a period of three years, said Kruger to the newspaper during a visit to the mine. The expansion costs would be known then, he added.

On having spoken from the north of Peru, Kruger said that to duplicate the production of the opencast, situated mine 90 kilometers to the north of Cajarmaca, in the mountain range of The Andes, Gold Fields would have to duplicate his reservations to 10 million ounces.

Kruger said that It Closed Crown he would contribute with 8 % to the production of Gold Fields and 20 % to the operative profit, once the mine reaches his full capacity of 140.000 ounces and 28.000 tons of copper.

Gold Fields, the fourth biggest world mine-layer of gold, with eight mines operating in South Africa, Ghana and Australia, has said that his ninth mine, Hill Crowns, she is on the way to beginning the production and the concentrate mailing in the first trimester, to finish in September, 2009.

The annual attributable production of Gold Fields is of about 4 million ounces. As his pairs of South Africa, the company has seen some fall of the mining production, later that the company of state electricity Eskom suffered almost a collapse in the electrical network in January, which led to a national closing of mines of five days

Eskom since then has given close to 90 95 % of electricity to the mines of the country, which is the biggest source of platinum of the world and the biggest golden producer, cutting more the production away.

10-07-2008 Reuters