  | |
| |
 |
|
| ||
Gold Fields opens door to South Deep Posted: Thu, 07 Sep 2006 [miningmx.com] -- THE extension of Gold Fields’ Kloof gold mine could give it flexibility to access the neighbouring South Deep operation, owned jointly by Western Areas and Barrick Gold, it said. Presenting a R1.4bn decline shaft proposal at Kloof mine, Brendan Walker, head of Gold Fields’ South African operations, said: “The decline will not give us access to South Deep. But it does free up sub-vertical 4 shaft from a strategic point of view.” This means Gold Fields would be able to transport ore through the sub-vertical 4 shaft. Walker said, however, that Gold Fields “... does not own that land.” The interest in potential synergy between Gold Fields’ Kloof mine and South Deep is only likely to intensify amid speculation, reported by Miningmx, that Barrick Gold could be willing to sell its 50% stake in South Deep. South Deep has total gold reserves of 30 million ounces and many more at deeper levels that fall in the resource category. Analysts have observed that Gold Fields could provide cheaper access to these deeper levels through Kloof. It’s understood that Barrick Gold has invited interested parties for its South Deep stake to conduct due diligence studies ahead of submitting binding offers. Gold Fields and Harmony Gold are understood to have undertake the studies. AngloGold Ashanti may also complete a due diligence.Free news alerts: click here to subscribe
| ||||
1% 
