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Gold Fields CEO Weighs Acquisitions to Replace Aging Assets

  • Miner to look for assets in regions it already operates in
  • Output may drop from 2024 peak of 2.7 million ounces: CEO
Updated on

Gold Fields Ltd. is looking at acquiring assets to replace depleting mines as the company’s new chief executive officer seeks to ensure that output doesn’t decline from a projected peak in three years time.

A new Chilean operation starting in 2023 and increasing production from its last South African mine will help the Johannesburg-based producer lift output to 2.7 million ounces by 2024. But as older mines near the end of their lives, Gold Fields will need to consider acquisitions to keep operations at or just above that level, said CEO Chris Griffith.