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Gold Fields WA mines boost production during Q3 2024 - Countryman

Thursday, 21 November 2024

The four WA gold mines of South African giant Gold Fields all enjoyed production increases in the September quarter.

The third-quarter results for this year show the mines — St Ives near Kambalda, Agnew near Leinster, Granny Smith south of Laverton, and Gruyere north-east of Laverton — increased output by between 7 and 20 per cent.

Gold Fields reported St Ives produced 83,800 ounces in the September quarter, a 20 per cent increase on the 70,100oz churned out in the June quarter.

The company said this was because of more ore processed from underground sources.

It said it expected production to increase further in the current quarter when the Swiftsure and Invincible Footwall South open pits transitioned from capital waste mining to ore production.

The all-in-sustaining cost for the quarter was $3077/oz, 2 per cent lower than the $3132/oz of the June quarter,

Gold Fields said Granny Smith produced 74,400oz in the September quarter, up 16 per cent on output of 64,200oz during the June quarter.

The company said this was because of higher tonnes processed (up 12 per cent), and increased yield (up 4 per cent).

AISC was $1873/oz, 7 per cent lower than the June quarter figure of $1997/oz.

Gold Fields said Gruyere recovered from production being affected by heavy rainfall in March, with September quarter output being 10 per cent higher at 68,800oz, compared to 62,500oz churned out in the June quarter.

The company said this was because of more ore being processed, with total tonnes mined increasing by 38 per cent to 14.2 million tonnes compared to 10.3Mt in the June quarter.

AISC was $2915/oz, 7 per cent higher than the $2707/oz of the June quarter, mainly because of increased capital expenditure as prestripping of stages four and five of the Gruyere pit continued.

Gold Fields said production at Agnew increased by 7 per cent to 60,900oz in the September quarter, from 57,000oz in the June quarter, because of the increased grade of ore mined and processed.

AISC decreased 1 per cent to $2271/oz in September from $2303/oz in June.


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