[miningmx] — GOLD FIELDS has increased the initial investment for its Peruvian
Chucapaca project to $1.2bn, the company’s vice president for South American told
Reuters on Wednesday.
Initial investment at the Chucapaca gold project, which Gold Fields is developing with
Peruvian top precious metals miner Buenaventura , was previously reported at $750m.
“It’s a project that will require a substantial investment of resources … $1.2 billion
initially and then $300 to $400 million during the mine’s life to maintain operations,”
company Vice President Juan Luis Kruger said.
According to the Reuters report, Gold Fields expects to submit the
environmental impact study for the gold project, as well as the completion of the
feasibility study, during the second half of 2012.
Mineral resources at Chucapaca have increased to 7.6 million ounces from a prior
estimate of 5.6 million ounces.
