The mine is targeted to produce around 600 000 oz/y, before levelling out to 450 000 oz/y over the remainder of its 11.5-year mine life.
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Download for free now and have an organised plan for your business by the end of the day. Create a plan of attack to stop feeling overwhelmed, and all over the place. Avoid 'Shiny Object Syndrome' for good, and stop being distracted. So we are tracking very well according to plan, and depending on what happens with Covid, because we are starting to see another wave in Chile, but at this point we are still tracking to deliver Salares at the end of the first quarter of 2023.” Download it today, and use this Project Planner to: Get more done, and feel like you've achieved something each day. “Salares is one of the few projects in the world at the moment, and certainly in South America, that’s within spitting distance of its original capital and its original timeline. Meanwhile, Griffith on Tuesday told Mining Weekly Online that costs for the Salares Norte project were "within spitting distance" of the $860-million initially set aside for project development. The board of directors of both companies have backed the transaction, and Gold Fields shareholders are expected to vote on the takeover in October. Yamana has five producing mines, along with a pipeline of development assets, and currently produces around one-million ounces of gold a year.
The transaction implies a valuation for Yamana of $6.7-billion. Gold Fields in May announced its takeover offer for Yamana Gold, offering 0.6 of its own shares or 0.6 of a Gold Fields American depositary share for each Yamana share.
We will be much more strategic in the way that we spend our money,” he added. It's not just about having more toys to play with, and throwing more money at them. “I think we've got skill and expertise to get more for what we spend and use the group's technical ability and of course cross learnings across our groups to get more out of the assets. “The bigger group has got a potential to have more exploration done but we also have, we think, superior geotechnical expertise, which means that actually we can probably spend less and get more just with the techniques that we have perfected over many years. Griffith said that Gold Fields would invest in exploring the new assets following a successful takeover of Yamana Gold, but would use the company’s extensive experience while doing this. But we want to be sure that when we combine the assets that there is not a huge amount of latent potential that we inadvertently would give up.” “But there are opportunities for rationalisation - two of our own assets potentially, and potentially two of the new assets. You don’t want to give up any assets before understanding them. Some of these assets have had limited exploration, like Cerro Morrow, in Argentina, where less than 10% of the tenement has been explored.
“You don’t just look at production and say, well a 150 000 oz/y operation is too small for us.