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Gold Fields looking for "another Cerro Corona"

Bnamericas Published: Tuesday, February 24, 2009
South African miner Gold Fields (NYSE: GFI) is looking to acquire a property it could turn into "another Cerro Corona," company CEO Nick Holland said in a webcast speech at the BMO Capital Markets 2009 Global Metals and Mining Conference. Commissioned late last year, Peru's Cerro Corona is expected to produce 375,000oz/y of gold equivalent at a cash cost of US$270/oz. Once at full output, the mine is expected to bump Gold Fields' group output to 4.0Moz/y starting in March. Following Gold Fields' sale of the Choco 10 mine in Venezuela to Russian company Rusoro Mining (TSX-V: RML) in late 2007, Cerro Corona became the South African corporation's only producing asset in Latin America.

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