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Friday, 23rd February 2007 (3189 views)

South African mining group Gold Fields is looking to derive sound returns from its operating mines in the Witwatersrand Basin, South Africa.

This follows the accrual of its newly purchased South Deep mine - increasing the potential of its existing three mines - Driefontein, Kloof and Beatrix.

In order to continue the development of its operation approximately R303 million (£21 million) is set to be rolled out to increase productivity at the group's Driefontein mine in the coming year.

These funds will be spent on a tertiary shaft, a subvertical shaft, with the remainder being outlayed on general improvements to the mine.

The group has also announced that while production at the Kloof mine increased in the last quarter of 2006, underground yields reduced slightly at the Driefontein mine during the same period.

In the year up to June 2006, the three operating mines for Gold Fields produced 2.66 million ounces of gold in total.

 

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