This was primarily as a consequence of decrease anticipated output from Salares Norte, which is now seen at 90,000-180,000 ounces versus a earlier forecast of 220,000-240,000 ounces.
Decrease output from Salares Norte is brought on by the early onset and prolonged length of winter situations through the commissioning and ramp-up section, Gold Fields stated in an announcement.
“These climate occasions resulted within the freezing of fabric within the piping of the method plant inflicting short-term shutdown of the plant,” Gold Fields stated.
On account of its decrease output forecast, Gold Fields’ all-in sustaining prices are anticipated to be $1,470 to $1,530 per ounce versus its earlier steering of $1,410-$1,460.
The $1.2 billion Salares Norte mine delivered its first gold on March 28 after struggling a number of delays as a consequence of Covid-19 and dangerous climate.
Salares Norte is located in Chile’s Atacama area at excessive altitude in an space the place winters might be extraordinarily chilly.
Gold Fields appointed Mike Fraser as CEO from January to guide the Johannesburg-based firm’s growth within the Americas the place it’s investing in new mines in Chile and Canada.
(By Nelson Banya; Modifying by Tomasz Janowski)