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April 2 (Reuters) - Gold Fields GFIJ.J said on Tuesday it had started production at its Chile mine after several delays, but the group's first quarter output is seen 20% lower due to operational challenges in South Africa as well as bad weather in Australia and Peru.
The Salares Notre mine delivered its first gold on March 28, Gold Fields said in an update. The $1.2 billion Chile mine, whose construction started in 2020 with production initially expected early in 2023, missed several targets due to delays caused by COVID-19 and bad weather.
Salares Norte is vital to Gold Fields' long-term group output target of around 2.8 million ounces annually. The mine is expected to produce 250,000 ounces of gold this year, before ramping up to 580,000 ounces in 2025.
Gold Fields said gold production in the first quarter of 2024 was lower than expected, due to reduced access to the ore body at South Africa's South Deep mine, where operations were also affected by a mine fatality in January. The group expects quarterly output between 460,000 and 470,000 ounces, 20% lower compared to the first quarter of 2023.
Gold Fields, however, maintained its annual production target between 2.33 million and 2.43 million ounces for 2024.
The company's Australian mines, which produced 44% of the group's attributable output of 2.3 million ounces in 2023, were hit by flooding which damaged roads and restricted access to mining operations, particularly at Gruyere, a joint venture with Gold Road Resources (GOR) .
Gold Fields said bad weather had also limited mining operations to lower-grade zones at its Cerro Corona mine in Peru, impacting output.
