Gold Fields plans to extend life of Peru mine through 2040

By Reuters

LIMA, Sept 13 (Reuters) – South African miner Gold Fields Ltd aims to extend the life of its Cerro Corona gold mine in Peru through 2040 with an investment of at least $240 million, the company’s vice president for the Americas said late on Wednesday.

“We’re doing studies with Peruvian consulting firms and international engineering companies to extend the life of Cerro Corona until 2040,” Luis Rivera told journalists at an event. “It’s going to involve the use of new technologies.”

Cerro Corona produced 5.1 million grams of gold last year, according to Peru’s Energy and Mines Ministry.

The gold mine in northern Peru that also produces some copper, had previously been scheduled to operate until 2023.

Rivera added that the company plans to spend $30 million next year to explore for gold, copper and other metals in the regions of Ancash and Pasco in central Peru.

“We’re very active in exploration projects,” Rivera said. “Despite the drop in the gold price, Gold Fields believes it will be a short-term issue.”

(Reporting By Marco Aquino; Writing By Mitra Taj)

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