JOHANNESBURG (Commodity Online): Gold Fields Limited (JSE, NYSE, NASDAQ, Dubai: GFI) has made a second payment of US$66 million for a 60% interest in the undeveloped gold-copper Far Southeast (FSE) deposit located in the Philippines.
A final payment of US$220 million will be required within the first half of 2012. The acquisition will total US$340 million inclusive of payments.
Nick Holland, president and chief executive officer of Gold Fields says “we are pleased with the results to date and excited at the prospect of establishing a long-standing mutually beneficial relationship in a promising region in the Philippines.”
The option agreement was entered into with Lepanto Consolidated Mining and Liberty Express Assets.
