Gold Fields Miner Plans To Extend Life Of A Gold Mine

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The South African mining company, Gold Fields, wishes to extend the life of the Cerro Corona gold mine in Peru with an investment of $240 million US dollars.

The company’s vice president for the Americas, Luis Rivera, said on Wednesday, according to Nasdaq, that this investment will allow the extension of the mine’s life through 2040.

“We’re doing studies with Peruvian consulting firms and international engineering companies to extend the life of Cerro Corona until 2040,” said Rivera to the media.

This project will develop by using new technologies. Last year, this company produced 5.1 million grams of gold, according to numbers from Peru’s Energy and Mines Ministry.

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

Rivera also believes that despite that the gold price has dropped, it is a short-term issue and that is why they are very active in exploration projects.

(Source)
(Cover Photo Flickr)

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Ermelinda is a journalist from Caracas, Venezuela. She has a Master’s degree in Digital Journalism and has recently finished a technical degree in Veterinary Assistance because of her love for animals. She likes to do sports, but especially ballet, which she has practiced for more than 17 years. Her passion is to read, write, and blog about different topics, as well as travel whenever she can.