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GoldFields' Gruyere Gold Project on track for 2019 first pour

A globally diversified gold producer is on track to pour first gold at one of its Australian gold mines, as it continues its ambition to become a global leader in sustainable gold mining.

GoldFields announced in a statement this week that its Gruyere Project, currently under construction as part of a JV through Gold Road Resources and Gruyere Mining Company, is on track to achieve its June 2019 first gold pour target.

The Gruyere Project has a Mineral Reserve of 1.87Moz gold and Mineral Resource 3.13Moz gold. A feasibility study was completed on the project in October 2016, supporting an average annual gold production of 270koz over a LoM of approximately 13 years

Engineering and construction are around 96% and 71% complete respectively, with EPC (process plant and associated infrastructure) construction 57% complete. The company cites “supportive weather conditions” as a key contributor in enabling contractors on site to advance the development and maintain the 2019 target.

Construction activities include around 21,500 cubic metres of concrete foundation works, the installation of the SAG and Ball mill shells, ends and trunnions as well as the reticulation of electrical cabling and piping.

Mine site infrastructure also includes stage one construction of the run of mine (ROM) pad work, as well as a Tailings Storage Facility (TFS) and a 45MW Gruyere Power Station.

Gold Fields Executive Vice President Australasia, Stuart Mathews, said: “Construction of the Gruyere Gold Project, and preparations for the commencement of operations are progressing well, and we have welcomed the opportunity to recently showcase the quality of the Project to a broad group of stakeholders. Our own workforce, together with our contractor partners, are motivated to achieve the first gold production target next year, whilst maintaining continued focus on safety and quality.”

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Gold Road Managing Director and CEO, Duncan Gibbs, said: “As the new Managing Director and CEO, I have visited and been well briefed on progress at Gruyere. It is clear from my observations and discussions with both the Gold Fields and Gold Road teams that this world-class, long-life gold mine development will deliver significant and sustained value for our shareholders into the future. I look forward to providing future updates on Gruyere’s development as we approach the firstgold production target. I also want to take this opportunity to acknowledge the transformational and, indeed, inspirational efforts of my predecessor Ian Murray in delivering Gold Road to this highly prospective phase.”

Through a five-year mining services contract on the project, Downer has begun mobilising the mining fleet and operations team for commencement of mining operations in November 2018. Mining will initially focus on completion of the prestrip and second stage ROM pad development, with first ore to be mined early in the March 2019 quarter.

 

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