The Board of IronRidge Resources Limited, the African focussed minerals exploration company,...
Gold producer invests in Peruvian copper-gold-silver project
South American project Gold Fields, the world’s seventh largest gold miner by production, has signed a deal to invest in Canada’s Chakana Copper. The latest transaction will allow the Canadian busi-ness to advance its project in Peru.
“The net proceeds of the financing will be used to advance the explo-ration and development of the company’s Soledad copper-gold-silver project in central Peru,” Chakana Copper said in a statement.
Under the deal, Gold Fields will acquire a 16.14% stake in the Cana-dian miner for a total of C$8 million (US$6 million).
Gold Fields operates seven mines worldwide, located in Australia, Ghana, Peru, and South Africa, and is part of a joint venture on an operating mine. The group has a total attributable gold-equivalent production of some 2.2 million oz per year, according to data from Chakana Copper.