Gold Fields (NYSE: GFI; JSE: GFI) expects to boost production by 600,000 oz. in the coming years, CEO Mike Fraser says in a new video. Its pending $2.2-billion acquisition of Osisko Mining’s (TSX: OSK) Windfall Lake project in Quebec and the expected Sept. 30 first gold pour at its Salares Norte mine in Chile will soon lift output.
Windfall is to add 300,000 oz. annually by 2027 at an all-in sustaining cost below US$800 per oz., while Salares Norte would hit full production of about 450,000 oz. gold-equivalent by 2026. Fraser says the two projects will lower costs and enhance the quality of ounces in the portfolio.
“High-margin ounces from Windfall and Salares Norte will drive cash flow and shareholder returns,” he said in an interview last week during the Gold Forum Americas in Colorado Springs.
With record gold prices providing a strong tailwind, Fraser says Gold Fields’ focus remains on “delivering predictable, high-quality returns rather than becoming the largest gold miner.”
Watch the full interview below with The Northern Miner’s western editor, Henry Lazenby.
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