Gold Fields Ltd. is seeking approval from the Environmental Protection Authority to extend its 400,000-ounce-per-annum St Ives gold operation in Western Australia until 2028, The West Australian reported Jan. 5.
The South African mining major plans to increase its footprint to over 7,000 hectares by 2028, from 2,061 hectares, including another 2,000 hectares on Lake Lefroy.
"This plan will also see the continuation over the next three to five years of the current investment in exploration of approximately [A]$38 million per annum," the company was quoted as saying.
Previously, Gold Fields executives signaled pledging nearly A$37 million for exploration this year to expand reserves, including the high-priority targets in the Speedway trend.
The proposal will remain open for public comment until Jan. 11.