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Gold Fields may look for buyers for its smaller mines in Ghana and Peru to focus on bigger operations and is hoping to make new mineral discoveries at both mines to enhance their appeal, CEO Mike Fraser said on Thursday.
The Johannesburg-based gold miner is shifting focus to advancing its new Salaries Norte mine in Chile as well as projects belonging to Osisko Mining, which it recently bought for about $1.6 billion. Gold Fields could potentially sell its Damang mine in Ghana where it is only processing stockpiled ore after stopping mining operations last year, Fraser said.
The miner could also seek buyers for its Cerro Corona in Peru operation in Chile – which has five years left on its lifespan – the CEO added.
Gold Fields is studying the potential for new mineral discoveries at both mines to help attract buyers, he said.
“We do want to set it up in a way that, if we keep it, we know we have unlocked the value,” Fraser told Reuters. “If we decide to sell it to someone else, we would have sold it with an embedded option for life extension.”
