Diversified gold producer Gold Fields has downgraded its 2023 and 2024 production expectations from its new Salares Norte mine, in Chile, owing to a delay in first gold from the project. In a project update on Friday, the JSE- and NYSE-listed mining firm explained that certain components required commissioning by the original equipment manufacturer (OEM) vendor to maintain the validity of their warranties.
Diversified gold producer Gold Fields has downgraded its 2023 and 2024 production expectations from its new Salares Norte mine, in Chile, owing to a delay in first gold from the project.
“Challenges in securing the OEM vendor representatives, due to previously announced delays by the main contractor, have resulted in an approximate two-month delay to commissioning of the mills and filter presses,” Gold Fields said. Gold Fields cautioned that the production outlook for next year had also been impacted and would fall in the range of 400 000 to 430 000 GEOs, from the previously forecast 500 000 GEOs.
Despite the downgrade in production for 2023 and 2024, steady state would be reached by the beginning of 2025. Production volumes for 2025 and 2026 remained unchanged at 600 000 GEOs.
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