Gold Fields Celebrates First Gold Pour At Salares Norte, Boosts Chilean Production Outlook
Portfolio Pulse from Stjepan Kalinic
Gold Fields (NYSE:GFI) has commenced production at its Salares Norte mine in Chile, marking a significant milestone with the first gold-silver doré pour. The project, which began over 13 years ago, represents a major investment exceeding $1 billion and is crucial for Gold Fields' goal of producing 2.8 million ounces of gold by 2025. Initial production is expected to be around 250,000 ounces this year, with a target of 580,000 ounces in full-year production next year. The mine is expected to create 900 permanent jobs, contribute nearly $800 million in taxes over its 11-year lifespan, and incorporate innovative technologies and environmental initiatives.
April 03, 2024 | 8:40 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Gold Fields has started production at its Salares Norte mine in Chile, a key step towards its goal of 2.8 million ounces of gold by 2025. The mine's initial production is expected to significantly contribute to the company's output and financial performance.
The commencement of production at Salares Norte is a significant development for Gold Fields, directly impacting its production capacity and financial outlook. The substantial investment and the expected production volumes highlight the project's importance to Gold Fields' strategic goals. The positive impact on the stock is anticipated due to the potential increase in production and revenue, alongside the demonstration of successful project execution and commitment to sustainability and social responsibility.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100