Gruyere project – 50% attributable to GFI
Gold Fields' 50% ownership is held by Gruyere Mining Co Pty Ltd and will be reported as managed, unless otherwise stated.
A long-life (13 years), low-cost gold project under construction in the eastern Yilgarn, Western Australia.
- The Gruyere project in Western Australia is a 50:50 joint venture between Gold Road Resources and Gruyere Mining Company Pty Ltd, a wholly owned Australian subsidiary of Gold Fields
- The Gruyere Gold Project is making significant headway, with construction on budget and schedule, the mining contract has been awarded and the process plant construction is progressing well
- Technical work and project preparation to optimise and deliver on the October 2016 feasibility study for Gruyere continues. This will be a low-cost operation, with average annualised production scheduled at 270koz
- Updated resource modelling in 2017 demonstrates robust geology and Reserves from the primary production pit
- First ore production from Gruyere is expected at the end of 2018. Project schedule remains on track to pour first gold at the end of the first quarter in 2019
- Drilling of six new boreholes below the Resource pit shell in 2017 returned nominally lower grades. At current gold prices and technical inputs, this resulted in a small decrease of Inferred Resources